Bank of Baroda, also known as BOB, is a leading public sector bank in India. It is the country’s third-largest bank after State Bank of India (SBI) and HDFC. This page is dedicated to providing you with BOB savings account interest calculator as per latest interest rates Use our Bank of Baroda savings bank account interest calculator to determine the interest you earn on your Bank of Baroda savings account.
Bank of Baroda Savings Account Interest Calculator
The idea is simple. You specify, how much amount is in your Bank of Baroda Bank account and based on the current interest rate, the calculator provides you the interest you can earn on that amount. The important part here is the interest rate. This calculator uses the latest and updated interest rate so that you always get the accurate value.
You can use the calculator below. Simply enter the Principal amount and click on Calculate. The calculator then displays the Total interest you can earn and the Maturity value.
Interest Rate Offered by BOB to Savings Bank Account Holders
Many people are not sure about the interest rate offered by Bank of Baroda to savings account holders. In this section, we will clear your doubts regarding the BOB savings account interest rate.
The latest update in the interest rates was on 14th November 2022. As per the update, the interest rates are as follows:
| Balance in Savings Account | Applicable Interest Rate |
| Upto Rs. 1 Lakh | 2.75% |
| Above 1 Lakh to Less than Rs. 10 Crores | 2.75% |
| Rs. 10 Crores and above to less than Rs. 50 Crores | 2.75% |
| Rs. 50 Crores and above to less than Rs. 100 Crores | 3 % |
| Rs.100 Crore and above to less than Rs.200 Crores | 3 % |
| Rs 200 crores and above to less than Rs 500 crores | 3.05 % |
| Rs 500 crores and above to less than Rs 1,000 crores | 3.35 % |
| Rs 1,000 crores and above | 3.35 % |
Our calculator takes these slabs into consideration and presents you with the interest that you will get.
About Bank of Baroda Interest Payments
- Interest on Term Deposits is calculated quarterly and compounded, with rates depending on deposit periods.
- For Monthly Deposit Schemes, interest is calculated quarterly on a compounding basis but paid monthly at a discounted rate.
- Interest is calculated based on completed quarters and actual days using a 365/366-day year.
- If a terminal quarter is incomplete, interest is calculated proportionally for the actual days.
- The maturity amount on receipts doesn’t include the TDS effect.
Tax Deduction at Source (TDS):
- TDS is deducted from interest payments on time deposits that exceed the specified limit as per Section 194A of the Income Tax Act 1961, starting from July 1, 1995.PAN is required for all TDS cases. Without PAN, a higher TDS rate of 20% is applied.
- Individual customers can submit Form No. 15G and senior citizens can submit Form No. 15H with their PAN to avoid TDS.
For Other Banks Calculators, refer to our Dedicated section.