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, it is mandatory for you to complete the required KYC.
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 easy liquidity facility associated with a savings account. It also provides the facility of partial withdrawal to the customers without closing the entire FD. Which ensures that the customer does not face any hurdle in meeting his immediate financial needs as and when required.
Who can invest in it?
According to the report, 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 non-individual fixed deposits (FDs). Also, this scheme is not available for NRIs (NRIs and NROs) and banks. BOB Liquid FD can be opened easily through digital channels like the bank’s BOB World app and internet banking and by visiting any branch.
How much can you invest?
A minimum deposit of Rs 5000 can be deposited in Bob Liquid FD. There is no limit on the maximum investment. The investment tenure is minimum 1 year and maximum 5 years. In the scheme, the prevailing interest rates on fixed deposits as decided by the bank from time to time will be applicable. Currently, fixed deposits of less than Rs 3.00 crore are considered as retail deposits and deposits of Rs 3.00 crore and above are considered as large deposits as per RBI guidelines. Premature withdrawal/partial withdrawal facility is allowed in multiples of Rs 1,000/- as many times as required during the tenure of the FD.
Bank of Baroda BOB Liquid FD
BOB Liquid FD from Bank of Baroda is a versatile FD variant. It is especially suitable for individuals who want to lock their funds for a long period for higher returns. Also want to save for long-term goals and maintain flexibility for unexpected expenses. Interest payment is subject to tax deduction at source (TDS) as per the prevailing income tax laws.
