Terms & Conditions

• Minimum deposit required is Rs. 1000/- followed by regular deposits in multiples of Rs. 100/-.
  
  
• Deposit Tenure:
  
  
  • Minimum period of deposit - 12 months.
  • Maximum period of deposit - 120 months.
    
    
• Compound interest is calculated quarterly and can be paid on a monthly (discounted value of the interest amount is payable), quarterly, half-yearly basis or on maturity.
  
  
• Rate of interest depends on maturity period.
  
  
• Interest payments are subject to TDS (Tax Deducted at Source).
  
  
• Income from interest is exempted from income tax up to a limit of Rs. 9000 under the section 80 L. However, deposits that earn over Rs. 5,000/- per year are subject to TDS.
  
  
• An additional interest of .5% is paid to the senior citizens for their deposits above Rs. 10000/-.
  
  
• Documents required:
  
  
  • Passport size photograph
  • Proof of residence
  • An introduction as per Bank's norms

For further details, please contact the Bank of Baroda Branch nearest to you.



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