New FD scheme launched : Bank of Baroda’s BOB Liquid FD can be opened easily through the bank’s digital channels, such as BOB World App and Internet Banking, and by visiting any branch. For this, you must complete the necessary KYC
New FD scheme launched : 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 earning high returns from FD with the easy liquidity facility associated with a savings account. Also, it provides partial withdrawal facility to the customers 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 and minors in single or joint names, 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 for 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
One can deposit a minimum of Rs 5000 in BOB Liquid FD. There is no maximum investment limit. The investment period is minimum 1 year and maximum 5 years. The scheme will attract interest rates prevailing on fixed deposits as decided by the bank from time to time. Currently, fixed deposits of 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 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 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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