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Baroda Tax Savings Term Deposit
Invest Long.. Get More on our Term deposit

Make Your return immune to interest rate fluctuation,
BARODA TAX SAVINGS TERM DEPOSIT ACCOUNT.

ELIGIBLE PERSONS :

  • 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.

  • Deposit can be made in single name of an individual for himself or in the name of the Karta of the HUF OR in joint name.

  • 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.

PERIOD of the deposit:

Minimum 5 years with a maximum tenure up to 10 years.

MINIMUM & MAXIMUM AMOUNT:

  • Minimum amount shall be Rs. 100/- & in multiples of Rs. 100/- .

  • For availing Tax benefit maximum amount in a financial year - Rs. 1.50/- lacs

TO KNOW THE CURRENT INTEREST RATES:  Click here.

PREMATURE WITHDRAWAL OF THE DEPOSIT:

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 PAYMENT & TAX LIABILITY:

  • Interest will be computed on quarterly rest basis.

  • Deposit can be made under RIRD/MIP/QIP scheme.

  • In case of any request for prepayment of any time deposit before its due date, the Bank may do so after completion of minimum 5 years period, at its discretion and pay interest at 1% below the rate ruling on the date of making deposit, for the period for which the deposit has actually remained with the Bank.

  • Interest on the deposit is liable to tax / TDS.

LOAN / OVERDRAFT AGAINST THE SECURITY OF THE DEPOSIT:

NO loan and/ or any type of credit facility shall be considered against the security of the deposit.

Nomination facility is available.



> Short Deposits >Baroda Utsav Deposit Scheme > Baroda Double Dhamaka Fixed Deposit
> Fast Access Deposit Scheme > Regular Income Plan > Monthly Income Plan
> Regular Income Cum Recurring Deposit > Capital Gain Account Scheme, 1988
> Term Deposits > General Scheme > Baroda Flexible Recurring Deposit Account





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