BOB Regular Income Plan
The BOB Regular Income Plan is Bank of Baroda's fixed deposit scheme that pays supplementary income monthly through its Monthly Income Plan or quarterly through its Quarterly Income Plan, while keeping your principal secure. You can also access up to 95% of your deposit as a loan whenever you need liquidity, and senior citizens earn an additional 0.50% interest on deposits below Rs.3 crore.
Senior citizens get an additional 0.50% interest rate for deposits below Rs.1 crore.
Eligibility criteria for BOB Regular Income Plan
The account can be opened by individuals and non-individuals. The account requires minimal formalities in terms of documentation such as:
- Proof of residence
- Passport size photograph
- Introduction as per norms of the bank
- Filled in application form
Minors aged ten and above can also open the account through a guardian, along with entities such as clubs, associations, educational institutions, partnerships and companies.
Features of BOB Regular Income Plan
Account Type | Single/Joint |
Amount | Min - Rs.1,000 with subsequent withdrawals in multiples of Rs.100 Max - N/A |
Rate of Interest | Min - 6.00% p.a. Max - 6.30% p.a. |
Period/Tenure | Min - 12 months Max - 120 months |
TDS | TDS applicable as per regulations from the Income Tax department |
Nomination | Nomination facility available |
Auto Renewal | Yes, unless otherwise mentioned |
Note: The interest rates are effective from 12 June 2026.
Premature withdrawal follows a tiered penalty structure: deposits up to Rs.5 lakh held for at least 12 months attract no penalty, deposits between Rs.5 lakh and Rs.1 crore attract a 1% penalty, and deposits of Rs.1 crore and above require 31 days' notice and attract a 1.5% penalty.
BOB Regular Income Plan interest rates
The plan offers competitive interest rates which are compounded quarterly, allowing you to accrue more interest than on a purely annual compounded scheme. The FD interest rates for different slabs of deposits are as follows:
Bank of Baroda offers this as two named schemes: the Monthly Income Plan (MIP), which pays a discounted monthly-equivalent of the rate below, and the Quarterly Income Plan (QIP), which pays the full quoted rate every quarter.
Tenure | Deposits below Rs.3 crore (p.a.) |
1 year | 6.25% |
Above 1 year to 2 years | 6.25% |
Above 2 years and up to 3 years | 6.25% |
Above 3 years and up to 5 years | 6.30% |
Above 5 years and up to 10 years | 6.00% |
Note : Above mentioned rates are linked to the bank's base rate and are subject to change as per the bank's discretion.
Note: The interest rates are effective from 12 June 2026.
Apart from the rates discussed above, senior citizens will receive an additional interest rate of 0.50% above normal rates.
Summary
The BOB Regular Income Plan gives you a secure Bank of Baroda fixed deposit that pays supplementary income either monthly through the Monthly Income Plan or quarterly through the Quarterly Income Plan, with senior citizens earning an extra 0.50% and up to 95% liquidity against the deposit. Check the current interest rates above and the eligibility details before you open your account. Explore BankBazaar's fixed deposit tools to compare rates and calculate your expected returns.
FAQs on BOB Regular Income Plan
1.What is the BOB Regular Income Plan?
The BOB Regular Income Plan is a Bank of Baroda fixed deposit that pays you supplementary income at regular intervals instead of only at maturity. It keeps your principal secure while giving you either a monthly or a quarterly payout option.
2.What is the difference between the Monthly Income Plan and the Quarterly Income Plan under the BOB Regular Income Plan?
The Monthly Income Plan pays interest every month at a discounted equivalent of the standard rate, while the Quarterly Income Plan pays the full quoted rate once every quarter. Both fall under Bank of Baroda's Regular Income Plan umbrella and share the same eligibility and tenure rules.
3.Who is eligible to open a BOB Regular Income Plan account?
Individuals, including minors through a guardian, and non-individual entities such as clubs, associations, educational institutions, partnerships and companies can open a BOB Regular Income Plan account. Both single and joint account holders are permitted.
4.What documents are required to open a BOB Regular Income Plan account?
You need proof of residence, a passport-size photograph, an introduction as per the bank's norms, and a duly filled application form. These minimal formalities apply to both the Monthly and Quarterly Income Plan variants.
5.What is the deposit and tenure range for the BOB Regular Income Plan?
The plan accepts deposits starting from a low minimum amount, payable in fixed multiples, with no upper limit on the deposit size. The tenure ranges from a minimum of twelve months up to a maximum of ten years.
6.Can I withdraw my BOB Regular Income Plan deposit before maturity?
Yes, premature withdrawal is permitted once the deposit has completed its minimum holding period. Withdrawing early may reduce the interest you earn or attract a penalty, with the exact terms depending on the deposit amount as set out in the plan's features.
7.Do senior citizens get a higher interest rate on the BOB Regular Income Plan?
Yes, senior citizens earn an additional interest rate over the normal rate offered to other depositors. The exact preferential rate and the deposit limit it applies to are listed in the interest rate table above.
8.Is nomination available on the BOB Regular Income Plan?
Yes, the BOB Regular Income Plan offers a nomination facility so you can designate a beneficiary for the deposit. This is available on both the Monthly and Quarterly Income Plan variants.
9.Does the BOB Regular Income Plan renew automatically?
Yes, the deposit renews automatically on maturity unless you instruct the bank otherwise. You can also request renewal in writing using the format specified by Bank of Baroda.
10.Can I take a loan against my BOB Regular Income Plan deposit?
Yes, the BOB Regular Income Plan lets you borrow against your deposit for added liquidity without breaking it prematurely. You can access a large proportion of your deposit value this way, as outlined at the top of this page.
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