New FD scheme: Bank of Baroda’s BOB Liquid FD can be easily opened through the bank’s digital channels, such as BOB World App and Internet Banking, and by visiting any branch. For this, you are required to do the necessary KYC.
New FD scheme: Public sector Bank of Baroda has introduced a special FD scheme. The name of this scheme is BOB Liquid FD. BOB Liquid FD combines the benefits of getting high returns from FD with the facility of easy liquidity associated with a savings account. Also, customers get partial withdrawal facility without closing the entire FD, which ensures that the customer does not face any hindrance in meeting his immediate financial needs when needed.
Who can invest in it?
According to the news, non-individuals including individuals in single or joint names and minors, Hindu Undivided Families (HUF), sole proprietorship and partnership firms, public / private limited companies, associations, clubs, trusts and registered societies etc. are eligible for this fixed deposit (FD). However, this scheme is not available to NRIs (NRE and NRO) and banks. BOB Liquid FD can be easily opened through the bank’s digital channels, such as BOB World App and Internet Banking, and by visiting any branch.
How much can you invest
You can deposit a minimum of Rs 5000 in BOB Liquid FD. There is no maximum investment limit in this. The investment period in this is a minimum of 1 year and a maximum of 5 years. The prevailing interest rates on fixed deposits as decided by the bank from time to time will be applicable in the scheme. Currently, fixed deposits of an amount less than Rs 3.00 crore will be treated as retail deposits and deposits of Rs 3.00 crore and above will be treated as bulk deposits as per RBI guidelines. Premature payment/partial withdrawal facility is allowed in multiples of ₹ 1,000/-, as many times as required during the tenure of the FD.
Bank of Baroda’s BOB Liquid FD
Bank of Baroda’s BOB Liquid FD is a versatile FD variant. It is particularly suitable for individuals who wish to lock in their funds for a longer period for higher returns, while also balancing savings for long-term goals and maintaining flexibility to address unforeseen expenses. Interest payments are subject to Tax Deduction at Source (TDS) as per the prevailing Income Tax Act.
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