Bank of Baroda Flexi Deposit
The Bank of Baroda Flexi Deposit, offered as the bob Flexi Systematic Deposit Plan, is a recurring deposit that lets you vary your monthly instalment above a core amount. You can open it for 6 to 60 months with instalments from Rs.500 up to Rs.1 lakh a month. Interest is paid at the bank's term deposit card rate for your chosen tenure.
Features of the Bank of Baroda Flexi Deposit
- You have the flexibility to deposit any amount you want from Rs.500 to Rs.1 lakh in one calendar month, in multiples of Rs.100 above your core instalment.
- Please note that this is subject to a ceiling of 10 times of your initial amount that is committed when you open the account.
- The initial minimum deposit you can make is Rs.500.
- Your flexible deposit period is from 6 months to 60 months for resident and NRO accounts, and NRE accounts need a minimum of 12 months.
- Please note that you can make up to ten deposits during one month. This is subject to a ceiling of Rs.1 lakh.
- There is a penalty for a non-deposit in any month.
- There is also an auto renewal facility.
- You can open the account at any Bank of Baroda branch or apply online.
- There is a facility of loans/overdraft up to 95% of the balance of your deposit.
- You can set a standing instruction 'free of charge' for the fixed amount payable. This can be on a monthly basis from any operative account.
- You can also set up a standing instruction with your existing bank and transfer the fixed amounts every month to credit your Baroda Flexi account.
- Individuals in single or joint names, minors with a parent or guardian as per the bank's rules, registered clubs, associations, educational institutions, partnerships and joint stock companies, and NRIs through NRE and NRO accounts can open the Bank of Baroda Flexi Deposit.
- You need to submit your PAN or Form 60, along with a valid identity proof and address proof, to open the Bank of Baroda Flexi Deposit.
- Tax Deducted at Source (TDS) applies to the interest as per Income Tax rules, and eligible depositors can submit Form 15G or Form 15H to avoid it.
Bank of Baroda Flexi Deposit Interest Rates
The Bank of Baroda Flexi Deposit earns the bank's term deposit card rate for your chosen tenure. The card rates for resident general public deposits below Rs.3 crore are given below, and resident senior citizens earn higher rates.
Tenure | General public (p.a.) |
181 days to 210 days | 5.50% |
211 days to 270 days | 5.75% |
271 days and above and less than 1 year | 6.00% |
1 year | 6.25% |
Above 1 year to 400 days | 6.25% |
Above 400 days and up to 2 years (except 444 and 555 days) | 6.25% |
Above 2 years and up to 3 years | 6.25% |
Above 3 years and up to 5 years | 6.30% |
Note: The interest rates are effective from 12 June 2026.
Summary
The Bank of Baroda Flexi Deposit, or bob Flexi SDP, suits you if you want to save every month but need room to deposit more when your cash flow allows. Instalments range from Rs.500 to Rs.1 lakh a month for 6 to 60 months, with an overdraft facility against the balance. Check the interest rate table above, then apply online or at a Bank of Baroda branch.
FAQs on Bank of Baroda Flexi Deposit
1.What is the Bank of Baroda Flexi Deposit?
The Bank of Baroda Flexi Deposit is the bank's bob Flexi Systematic Deposit Plan, a recurring deposit in which you pay a core monthly instalment and can add more in the same month. It encourages regular saving while giving you room to deposit extra when you have spare cash. The monthly limits are listed in the features section above.
2.Who can open a Bank of Baroda Flexi Deposit?
Individuals in single or joint names, minors with a parent or guardian, registered clubs and associations, and NRIs through NRE and NRO accounts can open a Bank of Baroda Flexi Deposit. The bank's eligibility terms apply to every applicant.
3.How is the Bank of Baroda Flexi Deposit different from a regular recurring deposit?
A Bank of Baroda Flexi Deposit lets you raise your monthly deposit above the core instalment, whereas a regular recurring deposit asks for the same fixed amount each month. The extra amount you can add is capped as described in the features section above.
4.How is interest calculated on a Bank of Baroda Flexi Deposit?
Interest on a Bank of Baroda Flexi Deposit is based on the bank's term deposit card rate for your chosen tenure and is compounded quarterly. Resident senior citizens can earn a higher rate on eligible deposits. The current rates are given in the interest rate table above.
5.What happens if I miss an instalment on a Bank of Baroda Flexi Deposit?
The bank charges a penalty on a Bank of Baroda Flexi Deposit if you do not pay the instalment within the same calendar month. The penalty is calculated on the instalment amount as per the bank's terms.
6.Can I get a loan or overdraft against a Bank of Baroda Flexi Deposit?
Yes, the bank offers an overdraft facility against the balance in your Bank of Baroda Flexi Deposit at its prevailing rate. The facility is not available for some account types, such as single-name minor accounts and HUF accounts. The share of the balance you can borrow is listed in the features section above.
7.Can I close a Bank of Baroda Flexi Deposit before maturity?
Yes, you can close a Bank of Baroda Flexi Deposit before maturity, subject to a premature closure penalty under the bank's guidelines. Check the bank's service charges before you decide.
8.How do I open a Bank of Baroda Flexi Deposit?
You can open a Bank of Baroda Flexi Deposit online through the bank's website or at any Bank of Baroda branch. Keep your PAN or Form 60 and your identity and address proof ready.
9. Is TDS deducted on Bank of Baroda Flexi Deposit interest?
Yes, TDS applies to the interest earned on a Bank of Baroda Flexi Deposit as per Income Tax rules. Eligible depositors can submit Form 15G or Form 15H to avoid it, and the bank issues a TDS certificate.
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