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– bob Flexi SDP gives customers the flexibility to increase their monthly deposit by up to 10 times the core monthly instalment, helping them build a substantial corpus over time
Bengaluru, 24 June 2025 – In today’s evolving financial environment, customers are increasingly looking for savings solutions that are tailored to align with their individual financial goals. Recognising this need, Bank of Baroda has introduced the bob Flexi Systematic Deposit Plan (bob Flexi SDP) – an innovative and flexible recurring deposit product that empowers customers to increase their monthly investment whenever they have the capacity to do so.
The bob Flexi Systematic Deposit Plan offers customers a higher fixed rate of interest for the entire tenure of the SDP – providing stability to one’s investment portfolio, inculcates the habit of disciplined monthly savings and provides customers the flexibility to increase their monthly contributions when possible based on their financial situation.
Blending Discipline with Flexibility
Traditional recurring deposits (RDs) are designed to encourage regular savings through fixed monthly contributions. The bob Flexi SDP goes a step further by allowing customers to increase their monthly deposits by up to 10 times their core instalment amount, subject to a maximum of ₹1 lakh per month. This feature makes bob Flexi SDP an ideal instrument for goal-based savings such as education, marriage, travel or building a financial corpus for emergencies.
Lock in Higher Interest Rates
Another important feature of bob Flexi SDP is that customers can lock in a fixed and higher rate of interest on each monthly contribution made for the full duration of the deposit, even though contributions are made in monthly tranches. Hence, while each subsequent deposit is made for a shorter duration, customers continue to earn a higher rate of interest applicable for that tenor.
For e.g. If a customer opts for a for a 2-year bob Flexi SDP, as per the current interest rates, she/he will earn an interest rate of 6.50% p.a. (7.00% p.a. for senior citizens and 7.10% p.a. for super senior citizens) on all the 24 contributions, even though each successive monthly deposit is made by the customer for a progressively shorter period of time.
Key Features of bob Flexi SDP
- Flexible Deposits: increase monthly deposits by up to 10 times of the core monthly instalment, subject to a maximum deposit of ₹1,00,000/- per month.
- Higher Interest Rates: A higher rate of interest is locked for the entire period opted for, even though contributions are made monthly.
- Assured Returns: Offers assured returns, with no market risk.
- Start Small, Scale Anytime: Minimum monthly contribution starts at ₹500; additional deposits in multiples of ₹100.
- Tenure: Customers can choose from a wide range of tenures, starting from 6 months to 5 years.
- Additional Benefits: Loan/Overdraft facility of up to 95% of the deposited amount and Nomination facility available
bob Flexi SDP introduces a new level of personalisation to recurring deposit products. Customers can increase their monthly contributions when the opportunity arises, helping them to achieve their financial goals more quickly and with ease.
bob Flexi SDP is available at Bank of Baroda branches across the country, making it easily accessible to all.
With this addition to its term deposits portfolio, Bank of Baroda continues to introduce smart, goal-oriented and customer-centric financial solutions.
