Baroda Holiday Saving Recurring deposits

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Baroda Fixed Deposit Accounts

Baroda Holiday Saving Recurring deposits

  • Bank of Baroda now presents holidaying experience to its customers through Baroda Holiday Saving Recurring Deposit Account.
  • Thomas cook India Ltd. (TCIL) is the partner for offering host of domestic/international holiday packages.
  • This scheme allows one to plan his/her holidays next year at today's price.
  • The cost of the package chosen by the customer is divided into 13 equal contributions for which a customer is required to open a Recurring Deposit for 12 months with Bank.
  • 13th contribution will be funded by interest earned on 12 montly contribution of RD.
  • The shortfall towards 13th contribution of package will be funded by TCIL.
  • Monthly contribution : Minimum Rs 100/- per month & further in multiples of Rs 100.
  • Actual contribution per person per package will be conveyed by Thomas Cook India Ltd. (TCIL) at the time of online/offline booking of package.
  • Duration : Maximum/Minimum – 12 months (by default).
  • Interest in the account will be paid on a quarterly compounding interval as per rates applicable to Recurring Deposit from time to time.
  • Senior Citizens will get benefit of additional interest of 0.50% subject to changes from time to time.
  • Interest payment is subject to Tax Deducted at Source (TDS) as per Income Tax Act 1961.
  • Default in payment of monthly contributions is liable to application of penal charges and maturity value will get affected to that extent.
  • Customer has the freedom to change the standing instructions anytime before maturity.
  • Upon Cancellation of trip the customer may:
    • Continue the RD.
    • Discontinue the RD (Premature withdrawal)
  • Premature Closure: Interest will be paid after deducting penalty of 1% from such applicable rate as on date of opening the account or the contracted rate whichever is lower .
  • Maturity proceeds = Principal plus accrued interest less TDS less penal charges towards default in payment/s, if any, will be remitted to TCIL towards cost of package booked by the customer.

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