Bank of Baroda (BoB)has launched a brand new fixed deposit (FD) plan. This is completely different from traditional FD. In this, investors will be able to easily withdraw money at the time of their need. This means that they will not need to break the FD prematurely and pay penalty. According to the information given by the bank, on this liquid FD, the bank will give interest at the rate of 6.85% on the deposit of 1 year to the general customers. At the same time, senior citizens will get 7.35% interest on 1 year deposit and 7.40% interest on 5 year deposit.
Partial withdrawal facility will be available
The bank said the Liquid FD scheme provides depositors with the facility of partial withdrawal without closing the entire FD, which ensures that depositors can meet their immediate financial needs as per requirement, while maintaining the balance in the same fixed deposit at the contracted rate. Continues to earn interest. According to the bank, this FD scheme will ensure that depositors benefit from higher returns, lower prepayment penalties and instant access to money when needed.
Key Features of Liquid FD
Liquid FD has been designed keeping the customers in mind. You can start investing in this FD with Rs 5,000. Investors can get FD for a tenure ranging from 12 to 60 months. At the same time, if needed, you can withdraw money in multiples of Rs 1,000. Additionally, no pre-payment penalty will be imposed for premature withdrawal on FDs up to Rs 5 lakh which have completed a maturity period of at least 12 months.
- Minimum Deposit Amount: Rs 5,000/-
- Maximum Deposit Amount: No upper limit
- Minimum period: 12 months
- Maximum period: 60 months
- Premature Payment/Partial Withdrawal Facility: Allowed in multiples of Rs 1,000/- as many times as required during the tenure of the FD.
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