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Public Provident Fund 1968 Scheme

Bank of Baroda operates PPF Scheme across its network of select -1077- branches all over India. To see a detailed list of these branches, CLICK HERE.


Any adult in his / her name or in minor's name in the capacity of guardian of the minor. HUF and NRIs cannot open PPF account.

Online subscription facility

Existing customers having PPF account with Bank of Baroda can deposit online in PPF account from Bank of Baroda savings account.

Minimum amount

Rs. 500/- per annum is required to be deposited. The accounts in which deposits are not made for any reason are treated as discontinued accounts and such accounts cannot be closed before maturity. The discontinued account can be activated by payment of the minimum deposit of Rs.500/- with default fee of Rs.50/- for each defaulted year.

Maximum amount

Rs. 1.5 Lacs per annum (FY 2014-15). The depositor has flexibility and freedom for depositing any amount in a maximum of 12 installments in a financial year.

Maturity period

15 years. An Account, on the expiry of fifteen years, can be extended for a further period of five years at a time.

Interest Rate

The interest is paid as per the rates declared by the Government from time to time.
The interest has revised to g.1 % p.a.w.e.f. 01 .04.2016
The interest is compounded annually.
The interest for the month is calculated on the minimum balance available in the account from 5th of a month to the last date of the month.
In case of cheques drawn on other Banks date of realisation of the cheque shall be the date of deposit.

Nomination facility



A PPF account can be transferred from a branch of an authorised bank to Post Office and vice versa and also from a branch of the bank to another branch.
A PPF account cannot be transferred from one person to another. Even in the case of death of a depositor, the nominee cannot continue the account.

Loan facility

A depositor can avail of loan facility in the third financial year from the financial year in which the account was opened.
Application in prescribed form is to be made for loan along with the pass book of the account.
In case, the loan is sought from minor's Account, the guardian has to make a declaration that the money is required for the use/benefit of the minor. The loan can be taken up to 25% of the amount in the account at the end of the second year immediately preceding the year in which the loan is applied for.
The loan is repayable in lump sum or convenient instalments. Where loan is repaid within 36 months, interest is charged at 2% over PPF interest rate. The interest is to be paid in not more than two instalments after the loan amount is fully repaid.
Once the first loan is repaid, second loan can be obtained on same terms. This facility is available till the end of 5th financial year from the end of the financial year in which initial subscription was made. Such loan can be taken only once a year.

Withdrawal facility

A depositor can make partial withdrawals, once every year from his PPF account after expiry of five years, from the end of Financial Year, in which the initial deposit was made. The amount of withdrawal is restricted to 50% of the credit balance at the end of the fourth year immediately preceding the year of withdrawal or the year immediately preceding the year of withdrawal, whichever is lower.
In case, the withdrawal is sought from minor's Account, the guardian has to make a declaration that the money is required for the use/benefit of the minor.
In case of accounts extended beyond Maturity period partial withdrawals are allowed once in a year with the condition that the amount of withdrawal during a five year block period should not exceed 60% of the balance in the account at the commencement of the block period.

Premature Encashment

A subscriber shall be allowed pre mature closure of his account or the account of a minor of whom he is the guardian only after completion of 5 financial years, on a written application to the Accounts Office on any of the following grounds namely:-

  1. That the amount is required for the treatment of serious ailments or life threatening diseases of the account holder, spouse or dependent children or parents. On production of supporting documents from competent medical authority.
  2. That the amount is required for higher education of the account holder or the minor account holder, on production of documents and fee bills in confirmation of admission in a recognized institute of higher education in lndia or abroad.

Tax benefits

Interest income is totally tax free.

Other features

The benefits of exemption of interest from Income Tax is not available on deposits made in a PPF account after expiry of fifteen years without exercising option in writing for continuance of the account within one year.
The deposit in a minor account is clubbed with the deposit of the account of the guardian for the limit of Rs. 1,50,000/- per annum .
On death of the account holder his nominee(s)/legal heir(s) cannot continue the account. The account has to be closed in such case.
Deposits in excess of Rs. 1,50,000/- per annum in a financial year in a PPF account are refunded without interest and the excess amount is not considered for income tax rebate.

Deposit at any Branch of Bank

The PPF account holders can deposit subscription at any branch of the Bank.


Senior Citizens Savings Scheme 2004

To see a detailed list of these branches, CLICK HERE.

Tenure of the scheme

5 years which can be extended by 3 more years

Rate of interest

9.2 per cent per annum. The rate of interest for every financial year will be notified by RBI before 1st April of that year. Rate of interest remains unchanged for the entire duration of the investment till maturity irrespective of the revision in subsequent years.

Frequency of computing interest



Interest is fully taxable.

Whether TDS is applicable

Yes, Tax will be deducted at source.

Investment to be in multiples of

Rs. 1000/-

Maximum investment limit

Rs. 15 lakh

Minimum eligible age for investment

60 years (55 years for those who have retired on superannuation or under a voluntary or special voluntary scheme). The retired personnel of Defence Services (excluding Civilian Defence Employees) shall be eligible to invest irrespective of the age limits subject to the fulfilment of other specified conditions

Premature withdrawal facility

Available after one year of holding but with penalty

Transferability feature

Not transferable to others


Not tradable

Nomination facility

Nomination facility is available

Modes of holding

Accounts can be held both in single and joint holding modes. Joint holding is allowed but only with spouse.

Application forms available with

At any of the -913- designated branches

Applicability to NRI, PIO and HUFs

Non resident Indians, Persons of Indian Origin and Hindu Undivided Family are not eligible to open an account under the scheme.

Transfer from one deposit office to another

Transfer of account from one deposit office to another in case of change of residence is permitted


Sukanya Samriddhi Account(SSA)

Bank of Baroda operates SSA scheme across its network of select -1077- branches all over India. To see a detailed list of these branches, CLICK HERE


A Natural/ Legal Guardian can open account in the name of the girl child from the birth of the girl child till she attains the age of ten years.

Minimum amount

Rs. 1000/- per annum is required to be deposited. The accounts in which minimum deposit is   not made are treated as discontinued accounts. Such accounts can be regularised by payment of the minimum deposit of Rs. 1000/- with a penalty of Rs. 50/- for each defaulted year.

Maximum amount

Rs. 1.5 Lac can be deposited in a financial year. The amount can be deposited in multiples of hundred on a single occasion or on multiple occasions but should not exceed the maximum limit.

Maturity period

The account shall mature on completion of 21 years.

Income Tax benefit

Deposits under ‘Sukanya Samriddhi Account’ scheme are eligible for Income tax deduction under 80C of Income-tax Act, 1961.

Interest Rate

The interest is paid as per the rate declared by Government of lndia from time to time. Present rate of interest is 8.6% p.a.(2016-17)

Other features

Partial withdrawal, maximum up to 50% of balance standing at the end of the preceding financial year can be taken after Account holder’s attaining age of 18 years to meet the financial requirements of the account holder for the purpose of higher education and marriage.
If account is not closed after maturity, balance will continue to earn interest as specified for the scheme from time to time.
Normal premature closure will be allowed after completion of 18 years of age of account holder, provided that girl is married.

CLICK the individual titles to know more about these services.


Government of India 8% Savings Bonds 2003 (Taxable)

Bank of Baroda offer facility of issuance of GOI 8% Savings Bonds 2003 (Taxable) through its network of select -70- branches all over India. To see a detailed list of these branches CLICK HERE.

Key Benefits

  • Bonds can be issued to resident Indian, in individual or joint names/on behalf of a minor as father/mother/legal guardian.
  • Bonds can also be issued to Hindu Undivided Family, Charitable Institution and University.
  • Bonds bear interest @ 8% p.a. No interest would accrue after the maturity of Bonds.
  • Bonds (Non-Cummulative) -Interest will be payable at half yearly intervals upto 31st July and 31st January by crediting holder's a/cs or issuing cheque.
  • Bonds (Cummulative) -Interest will be compounded with half yearly rests and payable on maturity along with the principal amount.
  • The interest earned under this scheme is taxable under the Income Tax Act, 1961, according to the relevant tax status of the Bondholder.
  • The Bonds shall not be tradable in secondary markets and will not be available as collateral for loans.
  • The bond shall be repayable on the expiry of -6- years from the date of the issue.
  • The maturity value of the bond shall be Rs.1601/- for every Rs.1000/-.
  • These Bonds are non-transferable.
  • Investment can be made with minimum Rs.1000/- and in multiple thereof with no maximum limit.
  • Nomination facility is available.
  • The Government of India has now vide Notifications dated July 29, 2013 and August 16, 2013, decided to provide the facility of premature encashment of these bonds to individual investors in the age group of sixty years and above, after a minimum lock-in period of three years from the date of issue as indicated below:-
    1. Lock-in period for investors in the age bracket of 60 to 70 years shall be 5 years from the date of issue.
    2. Lock-in period for investors in the age bracket of 70 to 80 years shall be 4 years from the date of issue.
    3. Lock-in period for investors of the age of 80 years and above shall be 3 years from the date of issue.

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