Short Deposits

Secure Your Money
And Watch It Grow Too.

Baroda Fixed Deposit Accounts

Short Deposits

A Scheme for High Return on your savings even for a short period of less than 1 year. An ideal option for all transitory savings to meet the requirements. An ideal option for all transitory savings.

  • Overdraft / loan against deposit provided on demand upto 95% of deposit amount without any guarantor and processing fee, filling of any forms etc. even for 1 day and upto the maturity period of deposits to meet short term requirements and needs.
  • For such advances interest shall be charged 1.5% over the deposit rate with monthly rests in case of depositor -borrower and in case your friends want to avail loan against your deposit the rate of interest will be a little higher depending on loan amount.
  • Accepted as a Security by Govt. Dept.
  • Accepted as margin for Non-fund based facilities.
  • Nomination facility is available.
  • Minimum deposit amount of Rs.1000/-
  • Minimum period of deposits - 7 days
  • Maximum - less than 12 months. ( period of 7 days to 14 days - applicable for deposits of Rs. 15 lacs and above)
  • For opening of the account - two passport size photographs, documents relating to proof of residence, and introduction from a person known to the Bank (bank's customer/ existing account holder) are required.
  • Rate of interest depends on maturity period.
  • An additional interest @ 0.50% for Senior Citizens against their deposits of Rs. 10,000/- and above.
  • Interest payment is subject to Tax Deducted at source(TDS) as per prevailing Income Tax ACT.
  • However, tax is deducted at source (TDS) on deposits that earn interest more than Rs.10,000/- per year.

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