Baroda Double Dhamaka Fixed Deposit
This is a Term Deposit Product wherein Depositor gets more than double of his initial deposit amount, after a period of 7 years 8 months and 29 days.
Area of operation
The product shall be available at all CBS branches.
Eligibility and Target Group
Minimum Deposit Amount
Rs 5,000/- ( and further in multiple of Rs. 1000/-)
On Due date Rs. 1000/- shall accumulate into approximately. Rs. 2001/-
Maximum Deposit Amount
Less than Rs. 1.00 Crore
Rate of Interest
- 9.10% per annum for Residents & Non- Residents
- 9.60% per annum for Senior Citizens
- 7 Years 8 Months and 18 Days for Residents & Non- Residents
- 7 Years 3 Months and 24 Days for Senior Citizen
Payment of Interest
- Frequency of Interest payment in the account will be similar as applicable on RIRD.
Premature penalty as per Bank’s extant guidelines on Term Deposits shall be applicable.
Nomination facility will be available.
Tax Deduction at Source
TDS will be deducted on interest payments as per rules.
Availability of Loan/Overdraft
Loan / Overdraft facility to be permitted up to 95% of outstanding balance at interest rate 1.5% over interest rate paid on deposit (No processing Charges to be levied on such loan / Overdraft facility)
Closure of A/C
Rules applicable as per existing Term Deposit Account
Other Terms and conditions
Same terms as applicable to Term Deposit.
To know the current interest rates Click here.
For further details, please contact the Bank of Baroda Branch nearest to you.
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> Baroda Utsav Deposit Scheme > Baroda Double Dhamaka Fixed Deposit
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