Bank FD Scheme : If you are planning to invest 10% to 20% of your income in a government fund or a bank fixed deposit in order to secure your future, then you can consider investing your money in Bank of Baroda’s Fixed Deposit (FD) scheme. Let us tell you that your money remains completely safe in Bank of Baroda’s fixed deposit, and you receive a good return along with attractive interest on the amount you deposit. Let’s understand the complete details below.
Whenever people think about safe investments, fixed deposits (FDs) offered by banks come to mind first. Investing in an FD often gives good benefits even in a short period. If you invest ₹200,000 in Bank of Baroda’s fixed deposit, you can earn up to ₹47,015 as profit. Let’s explore the full details below.
Bank of Baroda is a public sector bank that provides services on behalf of the Central Government. Public sector banks offer attractive interest rates on fixed deposits to their customers. Bank of Baroda allows you to invest in fixed deposits for a minimum of 7 days and up to a maximum of 10 years. Let’s learn more below.
Bank FD Scheme : Earn High Returns by Investing ₹200,000 in Bank of Baroda’s FD Scheme
Bank of Baroda offers interest rates ranging from 3.50% to 7.20% on fixed deposits. By investing just ₹200,000 in its FD scheme, you can earn fixed interest of up to ₹47,015. Let’s understand it in detail below.
Bank FD Scheme : Interest Rates for Different FD Tenures
Customers receive fixed interest on their FD accounts for a chosen tenure. Bank of Baroda offers the highest interest rate on its 444-day fixed deposit. On this FD, the bank offers:
- 6.60% interest to regular citizens
- 7.10% interest to senior citizens
- 7.20% interest to super senior citizens
For a 3-year fixed deposit, the bank offers:
- 6.50% to regular citizens
- 7.00% to senior citizens
- 7.10% to super senior citizens
Interest Earnings on a ₹200,000 Investment
- Regular Citizens (below 60 years):
If you invest ₹200,000 in a 3-year FD, you will receive a total maturity amount of ₹242,682, which includes ₹42,682 as interest.RBI’s New Guideline on 500 Rupees Note, Know the Complete Information - Senior Citizens (60 years and above):
On investing ₹200,000, you will get a total maturity amount of ₹246,288, including ₹46,288 as interest. - Super Senior Citizens:
If you invest ₹200,000 in a 3-year FD, you will receive a total maturity amount of ₹247,015, including ₹47,015 as interest.