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BOB Liquid Fixed Deposits: Bank of Baroda Introduces Flexible Partial Withdrawal Option

Mumbai, 13 Jan, 2025: In today’s dynamic financial environment, customers are seeking innovative deposit solutions that blend assured & competitive returns, liquidity and flexibility. To cater to the evolving needs of savers, Bank of Baroda has introduced a unique alternative to the traditional fixed deposit (FD) —bob Liquid Fixed Deposits.

bob Liquid FD combines the benefits of earning higher returns from Fixed Deposits with the convenience of easy liquidity associated with a Savings Account. It gives depositors the flexibility of a partial withdrawal facility without having to close the entire FD, which ensures that depositors can address their urgent financial needs as and when required, while the balance funds continue to earn interest at the contracted rate in the same FD. This ensures that depositors get the benefits of higher returns, lower prepayment penalty and quick access to funds when needed.

Addressing Changing Financial Needs

India’s financial landscape is witnessing significant shifts in consumer behaviour. Customers are in search of more flexible deposit products that prioritize both returns and liquidity. Whether it’s to address an unexpected emergency or meet an unforeseen expense, the bob Liquid FD gives quick access to part fund withdrawals without having to close the FD from where the partial withdrawal is made.

For example, in a bob Liquid FD of Rs. 5.00 lakh, a customer can prematurely withdraw Rs. 1.00 lakh. The remaining deposit of Rs 4 lakh will continue to earn interest at the original rate, and the customer will have to pay the prepayment penalty, if applicable, on the withdrawn amount of Rs 1 lakh only, and not on the entire amount.

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