If you’re looking for a secure investment with high returns, Bank of Baroda’s 444-Day FD scheme is a great choice. Named the Baroda Tiranga Plus Deposit Scheme, it offers attractive interest rates for both regular and senior citizen customers. This short-term deposit promises better returns without locking your funds for a long period.
Here are the official highlights of the scheme:
- Tenure: 444 days (approx. 1 year and 2 months)
- Interest Rates:
- For regular customers – 7.15% p.a.
- For senior citizens – 7.65% p.a.
- Validity: Interest rates are applicable till March 2025 (subject to change based on bank policy).
Why This FD Scheme Stands Out
This FD is ideal for investors who want short-term returns without taking risks. Since it’s slightly longer than 1 year, it appeals to those unwilling to lock their money for 2-3 years.
Senior citizens get a 0.50% higher interest rate, making it a secure and profitable option for fixed-income individuals. The scheme also offers auto-renewal, so you don’t miss out on returns if you forget the maturity date.
Investors can choose to apply offline by visiting a Bank of Baroda branch, or book online via Baroda Connect, the M-Connect Plus app, or through NetBanking.
Investment Limits
- Minimum Amount: ₹5,000 (for online booking)
- Maximum Limit: No upper limit (TDS applies on large deposits)
Premature Withdrawal Rules
You can withdraw your FD early, but a penalty of up to 1% less interest will apply.
Tax Implications
- TDS is deducted if your interest income exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year.
- You can submit Form 15G or 15H to avoid TDS if you’re not liable to pay income tax.
Who Should Invest?
- People seeking safe, guaranteed returns in a short time.
- Senior citizens wanting stable, extra income.
- Cautious investors looking for low-risk profits.
How to Invest
- Visit your nearest Bank of Baroda branch.
- Carry your ID proof (Aadhaar, PAN) and passbook.
- Fill the FD form or apply online through the bank’s official platforms.
Note: Always verify details at your nearest branch before investing.
Conclusion
In times of market uncertainty, Bank of Baroda’s 444-day FD scheme offers a reliable, guaranteed return with minimal risk. With high interest and easy options to invest, it’s a smart move for anyone looking to secure their savings and earn more from their idle funds.
