Looking for a safe investment with solid returns? The Bank of Baroda’s 444-day Fixed Deposit (FD) Scheme might be the perfect choice for you. With attractive interest rates and flexible options, this FD is designed to help you grow your money without the risk of market fluctuations.
If you’re tired of unpredictable investments and want guaranteed returns, this scheme could be your golden opportunity. Let’s break down everything you need to know before investing.
Why Choose Bank of Baroda’s 444-Day FD?
Higher Interest Rates Than Regular Savings
- General customers: 7.15% p.a.
- Senior citizens (60+ years): 7.65% p.a. (an extra 0.50% benefit!)
Short-Term Commitment, Better Returns
- Unlike long-term FDs that lock your money for years, this 444-day (approx. 1 year 2 months) scheme is ideal if you want good returns without a long wait.
Safe & Guaranteed Returns
- No stock market risks—just fixed, reliable interest paid at maturity.
Key Features of Bank of Baroda’s 444-Day FD
| Feature | Details |
|---|---|
| Scheme Name | Baroda Tiranga Plus Deposit Scheme |
| Tenure | 444 days (1 year 2 months) |
| Interest Rates | 7.15% (General), 7.65% (Senior Citizens) |
| Minimum Deposit | ₹5,000 (₹1,000 for online renewal) |
| Maximum Deposit | No upper limit (TDS applies on interest over ₹40,000/₹50,000) |
| Premature Withdrawal | Allowed with a penalty (1% lower interest) |
| Tax Implications | TDS deducted if interest exceeds ₹40,000 (₹50,000 for seniors) |
Who Should Invest in This FD?
- Risk-averse investors who want stable returns.
- Senior citizens looking for regular, secure income.
- Short-term savers who don’t want to lock funds for too long.
How to Open a Bank of Baroda 444-Day FD?
- Visit your nearest Bank of Baroda branch.
- Carry ID proof (Aadhaar/PAN), address proof, and a passport photo.
- Fill out the FD application form and submit it with your deposit.
FAQs: Your Questions Answered
Can I withdraw my FD before 444 days?
Yes, but a 1% penalty on the interest rate will apply.
Is the interest rate fixed for the entire tenure?
Yes, the rate is locked in when you open the FD.
Are there tax benefits on this FD?
No, but senior citizens can submit Form 15H to avoid TDS if their income is below taxable limits.
Can I take a loan against this FD?
Yes! Bank of Baroda offers up to 90% loan against your FD.