Bank Of Baroda Bob 360 will provide higher returns to the customers in its new fixed deposit scheme. It came into action on 15 January offering 7.10% of annual interest to the holders. FD is often considered one of the safest and best ways to grow our money. It often beats inflation by a few percent. People consider it better than a normal savings account. Bank of Baroda’s new scheme attracts people to know more about its eligibility criteria, features, and benefits. We will be sharing more about the new Bank Of Baroda Bob 360 scheme below.
Bank Of Baroda Bob 360 New FD Scheme, Features, Benefits, And Eligibility Criteria:
Bank of Baroda Bob 360 Benefits & Features:
Bank of Baroda Bob 360 scheme will provide different interest rates as per the citizenship. The General and NRO will get an interest rate of 7.10%. Whereas Special interest rates will be available for senior citizens who are Indian Residents at 7.60%. The maximum deposit amount is limited to less than Rs. 2 crores in retail, with the Minimum deposit amount being Rs. 1,000. The nomination and auto-renewal facility will also be available.
Benefits
Rate of Interest (ROI) for Callable Deposit
For General and Non-Resident Ordinary (NRO): 7.10
Senior Citizen: 7.60 (only for Resident Indian Sr. Citizen)
Features
Maximum Deposit Amount: less than 2 crores
Minimum Deposit Amount: Rs. 1,000/- ( and further in multiples of Rs. 1/- ) for callable deposits only
Nomination Facility: Available
Auto-renewal facility: Available
Bank Of Baroda Bob 360 Eligibility:
The eligibility criteria for the scheme follow the individual to apply in his own name. The joint account should have more than one individual. The Bank of Baroda rules will apply to all deposits in the name of any party or organization. The Bob 360 scheme applies only to residents/NRO, and Resident Senior Citizens. It does not apply to NRE Deposits. You must carry all the documents required for applying similar to any normal FD with the bank.
Bank Of Baroda Current Interest Rates:
7 days to 14 days: 4.25%
15 days to 45 days: 4.50%
46 days to 90 days: 5.50%
91 days to 180 days: 5.60%
181 days to 210 days: 5.75%
211 days to 270 days: 6.15%
271 days and above and less than 1 year: 6.25%
1 year: 6.85%
1 year to more than 400 days: 6.75%
More than 400 days and up to 2 years: 6.75%
2 years to more than 3 years and up to 5 years: 7.25%
Above 3 years and up to 5 years: 6.50%
Above 5 years to 10 years: 6.50%
Above 10 years ( Court Order Scheme): 6.25%
399 days (Baroda Triclor Plus Deposit Scheme): 7.16%
The bank’s new FD scheme is available for new customers and the existing ones as well, making the people excited about it. The new Bob 360 scheme is for the tenure of 360 days. It is offering a good percentage of interest in comparison to its existing offers for the same tenure. Many banks have recently revised their interest rates touching 7% or above to attract the market again towards the fixed deposits. It has led to a shift in the FD’s demand, increasing it more than earlier.
