Bank Of Baroda Launches BoB 360 FD Scheme With High Interest Rates --Check Latest ROI, Tenor, Other Details

Under the bob360 special FD scheme, customers are allowed minimum deposit amount of Rs 1,000 and maximum deposit amount upto Rs 2 crore.

New Delhi: Public sector lender Bank of Baroda has launched a Special Short Term Deposit Product offering higher Rate Of Interest in Short Term deposits.

The Bank of Baroda special FD scheme --“bob360 Term Deposit” -- is available for a tenor of 360 days. bob360 Term Deposit offers high rate of interest for Domestic Term Deposits to Residents/NRO and Resident Senior Citizen. It is not available for NRE Deposits as per RBI guidelines, said the bank.

Rate of Interest for bob360 will be 7.10 percent for General public and NRO while senior citizen can avail 7.60 percent interest on the FD scheme.

Under the bob360 Term Deposit scheme, customers are allowed minimum deposit amount of Rs 1,000 (and further in multiples of Rs 1) for callable deposits and maximum deposit amount-less than Rs 2 crore. Non-callable deposits are not applicable. Senior Citizen Preferential Rate is applicable only for Resident Indian Sr. Citizen.

The Tenor of Deposit is 360 Days with nomination and auto-renewal facility will be available.

bob360 can be availed by an individual in his own name or jointly by more than one individuals. BoB said that the special FD scheme is also available in the names of Clubs, associations, Educational Institutions, Partnerships and joint stock companies and any other institutions, which are eligible to open a Term Deposit, account as per Bank rules.

As per existing terms for FDR All documents applicable to 'Fixed Deposits' will apply.