Baroda Bachat Mitra facilitates with overdraft facility in Saving Account secured with the agreement of Term Deposit.
Features
| Eligibility | Individuals(sole or jointly)
Minimum age must 18 years |
| Minimum Amount | Saving Account : Nil
Fixed Deposit : Rs 10,000 and in multiples of rs 1000 thereafter |
| Tenure | Minimum time range is 12 months to a maximum time range of 120 months |
| Maximum Amount | No limitation for the maximum amount to be deposited |
| Overdraft limit | To an extent of 80% of Fixed Deposit (minimum Rs 8000 and maximum Rs 1,00,000)
Third party FDR are not eligible under this scheme. |
| Processing and Documentation Charge | Nil |
| Security for Overdraft Facility | Pledge of FDR duly discharged by the depositor.Letter of pledge of FDR ( LDOC -16 A) |
| Nomination Facility | Available |
Terms and Conditions
- At the request of the customer on the due date FDR facility shall be renewed. If there is no instruction then the overdraft facility may be liquidated by appropriation of proceeds of FDR after giving due notice to the borrower or else the FDR will be auto-renewed.
- If the borrower misses its payment of the interest in the overdraft account then the bank has full right to cancel the facility.
The deposit accounts shall be transferable from one branch to another branch of the bank, together with overdraft facility, free of charge.
Get More Details About Saving Accounts Schemes
Bank of Baroda Current Account
Bank of Baroda Jeevan Suraksha Savings Bank Account
Bank of Baroda Pensioners Savings Bank Account
Bank of Baroda Salary Advantage Saving Account
Bank of Baroda Baroda Basic Saving Account
Bank of Baroda Super Saving Account
