Bank of Baroda (BOB), the largest public sector bank in India, has introduced a new fixed deposit (FD) scheme called the BOB Liquid Fixed Deposit.
This scheme provides secure returns like traditional FDs but also allows partial withdrawals at any time, just like a savings account. You can access your money without closing the FD.
Key Features of BOB Liquid FD
The BOB Liquid FD offers the benefits of traditional FD returns along with the flexibility of a savings account.
You can withdraw a portion of your deposit without affecting the interest on the remaining amount.
For example, if you have an FD of ₹5 lakh and withdraw ₹1 lakh, the remaining ₹4 lakh will still earn interest at the original FD rate.
Important Details of BOB Liquid FD
Minimum Deposit: ₹5,000 (in multiples of ₹1,000)
Maximum Deposit: No limit
Minimum Tenure: 12 months
Maximum Tenure: 60 months
Interest Rate: Based on the bank’s term deposit rates, which may change over time.
Partial Withdrawals: Withdrawals allowed in multiples of ₹1,000 during the FD tenure.
Pre-Payment Penalties for BOB Liquid FD
There is no penalty for pre-payment if the FD has completed a minimum tenure of 12 months and the amount is up to ₹5 lakh. However, penalties apply for early withdrawal in other cases:
For FDs less than ₹1 crore: A penalty of 1% over the applicable interest rate.
For FDs of ₹1 crore or more: A penalty of 1.5% over the applicable interest rate.
This version keeps all the important details intact while making the information clearer and more organized.
This scheme gives you the advantage of higher returns than a savings account while offering the flexibility to access your money when needed.
