With it’s arrey of fixed deposit schemes, fitting every customer budget and spectrum, your money is no idler. Get both security and competitive rates of interest on your deposits with some of the most popular Fixed Deposit Products from the bank:
Scheme Name:
Baroda Double Dhamaka Fixed Deposit
This is a Term Deposit Product wherein Depositor gets more than double of his initial deposit amount, after a period of 7 years 8 months and 29 days.
Key Features:
§ The Minimum deposit amount with the product is Rs 5,000/- ( and further in multiple of Rs. 1000/-)
§ The Maximum deposit amount shall be Less than Rs. 1.00 Crore.
§ The maturity value shall be Rs. 1000/- on due date, and shall accumulate into approximately. Rs. 2001/-
§ Loan / Overdraft facility also to be permitted up to 95% of outstanding balance at interest rate 1.5% over interest rate paid on deposit.
Eligibility Criteria and Documentations Required:
§ An individual in his own name.
§ Jointly by more than one individuals.
§ Minor of age 10 and above on terms laid down by the Bank.
§ Account in the name of minor with their father/mother, as guardian.
§ In the names of Clubs, associations, Educational Institutions, Partnerships and joint stock companies and any other institutions, which are eligible to open a Term Deposit, account as per Bank rules.
Maturity Period and Interest Rates:
| Interest Rate on Baroda Double Dhamaka Fixed Deposit (w.e.f. 02.05.2014) | |
| Maturity Range | Less than Rs. 1 Cr. |
| General Public: 7 Years 9 months & 02 days | 9.05% |
| Senior Citizens: 7 Years 4 months & 05 days | 9.55% |
Scheme Name:
BOB Subhidha Fixed Deposit Scheme
It is a product offering a combination of competitive interests as well as easy liquidity. A convenient way of utilising your deposits giving you the best of both, long-term as well as short-term deposit plans.
Key Features:
§ A highly flexible product offering you a dual advantage of attractive rate of interest as well as flexible withdrawal limit.
§ A deposit product that keeps your money safe, ensures good returns and provides you with a choice to withdraw as per your needs.
§ Minimum amount required to open an account - Rs. 5000/- (deemed as 5 units of Rs. 1000/- each).
§ Subsequent deposits in multiples of Rs.1000/-.
§ Deposit Tenure:
o Minimum - 12 months
o Maximum - 60 months.
§ Interest will be compounded quarterly & credited to your account half yearly.
Eligibility Criteria and Documentations Required:
§ The eligibility criteria, of availing the bank of Baroda Subhidha Fixed Deposit Scheme, is the same as BOB Double Dhamaka Scheme.
§ Documents Required:
o Passport size photograph
o Proof of residence
o An Introduction as per
Maturity Period and Interest Rates:
| Interest Rate on Term Deposits & NRO Deposits (w.e.f. 02.05.14) | | |
| Maturity Range | Below Rs 1 Cr. | 1 crore to 10 crores |
| 7 days to 14 days | 4.50% | 4.50% |
| 15 days to 45 days | 4.50% | 4.50% |
| 46 days to 90 days | 6.50% | 6.50% |
| 91 days to 180 days | 7.30% | 7.25% |
| 181 days to 270 days | 7.75% | 7.75% |
| 271 days & above and less than 1 year | 8.25% | 8.50% |
| 1 year and above up to 6 years 3 months | 9.05% | 8.75% |
Scheme Name:
Baroda Tax Saving Term Deposit Scheme
Make Your return immune to interest rate fluctuation, with Bank of Baroda . tax saving Tem Deposit Schemes.
Key Features:
§ The Period of deposit of the product is a minimum 5 years with a maximum tenure up to 10 years.
§ Minimum amount shall be Rs. 100/- & in multiples of Rs. 100/- .
§ For availing Tax benefit maximum amount in a financial year - Rs. 1/- lac.
§ Premature withdrawal of the deposits made under the scheme shall not be allowed before completion of 5 years except in case of death of the depositor.
§ Interest will be computed on quarterly rest basis, and is liable to tax / TDS.
Eligibility Criteria and Documentations Required:
§ All individuals and HUF are eligible to invest in the product. It is most suitable for income tax payers like salaried persons, higher and middle-income group, retired persons etc.
§ Joint account may be in the name of maximum two adults or jointly to an adult and a minor. As per Government’s present Guidelines, in case of joint account/ joint holding of deposit, income tax relief will be available only to the first holder of the deposit.
§ The firms, companies, trust, societies, clubs, institutions, corporates etc. are not allowed to invest under the product.
Maturity Period and Interest Rates:
| Baroda Tax Savings Term Deposit (w.e.f. 02.05.2014) | |
| Maturity Range | Deposit [Per Annum] less than Rs 1 Cr. |
| Tax Savings Scheme: For 5 years | 9.05% |
| Above 5 years and upto 6 years 3 months * | 9.05% |
| Above 6 years 3 months and upto 10 years * | 9.05% |
