Liquid FD: You can withdraw money from this FD of Bank of Baroda like a savings account, how much interest will you get?

Bank of Baroda Liquid Fixed Deposits:Bank of Baroda, one of the major public sector banks of the country, has started a new facility for its customers, in which it has been promised to give higher interest rates i.e. better returns like fixed deposits along with liquidity like savings account. Under this scheme started in the name of Bank of Baroda Liquid Fixed Deposit (BoB Liquid FD), customers can get better interest rates on their deposits and if needed, they can make partial withdrawal of the required amount without breaking the FD. Withdrawal) can also be done. This facility is very beneficial for those people who, along with safe investment, also need the facility to withdraw money when needed.

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What is Bank of Baroda Liquid FD?

Bank of Baroda’s Liquid FD is a flexible investment option, in which customers can make partial withdrawals from their FD. This means that if you suddenly need money, you can withdraw some money without breaking your entire FD. Even after this, the remaining amount deposited in the liquid FD account will continue to receive interest as per the pre-determined interest rate. With this, customers can not only earn better returns but also get money easily at the time of need.

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Special features of liquid FD

The most special thing about Bank of Baroda’s liquid FD is its flexibility. This liquid FD account can be opened with a minimum of Rs 5,000. The tenure of this FD can be kept from 12 months to 60 months. However, customers can make partial withdrawals in multiples of Rs 1,000 at any time if required. If a customer withdraws money before maturity after 12 months of opening a liquid FD up to Rs 5 lakh, then he will not have to pay the penalty for premature withdrawal.

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What will be the interest rate?

The interest rate available on liquid FD of Bank of Baroda will be as per the existing term deposit interest rates of the bank. This interest rate for ordinary citizens ranges from 4.25% to 7.15%. At the same time, senior citizens are given the benefit of additional interest rate. You can see the interest rates available on different tenures in the table given below.

(Source: Bank of Baroda website)

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How much penalty will be charged for withdrawing money before maturity?

If a customer depositing money in BoB Liquid FD withdraws the money partially after completion of 12 months in FD up to Rs 5 lakh, then no penalty is imposed on him. In case of FDs of more than Rs 5 lakh and less than Rs 1 crore, there will be a reduction of 1% in the interest rate for premature withdrawal of money, whereas on FDs of Rs 1 crore and above this reduction will be 1.5%.

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For whom is Bank of Baroda’s liquid FD suitable?

Liquid FD of Bank of Baroda can be a better option for those people who want to deposit money in FD for safe investment and better fixed returns, but along with this they also need the facility to withdraw money when needed.