Bank of Baroda offers you with a flexible Recurring Deposit Account that attributes Flexible Monthly Installments mode.
Features
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Eligibility |
· Individual(his/her own name) or joint · Minor of the age of 10 and above according to the terms and condition of the bank. · Minors can open their account with the name of their father/mother as guardian. · Clubs, Association, Educational Institution, Partnership and joint stock companies that registered and the bank must be satisfied that the account is opened for genuine savings purposes only. |
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Installment Frequency |
Monthly |
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Installment Amount |
· The minimum amount to open an account is Rs 100 and thereafter you have to pay in multiples of Rs 100. · the maximum amount is Rs 10,000 per month. |
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Tenure |
Minimum of 12 months to maximum 120 months |
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Maturity of Deposit |
One month after payment of last installments or the due date whichever is later. |
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Senior Citizen Facility |
Senior citizens get’s to enjoy additional interest rate as per guidelines from time to time. |
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TDS |
TDS is deducted on the interest payment as per the guidelines of the bank. |
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Premature Payment |
Available, as per extant guidelines. |
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Overdraft/Loan facility |
Available up to 95% of the outstanding balance at rate of interest as provided by the guidelines of the bank. |
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Nomination facility |
Available. |
