Bank announces Financial Results for quarter ended, 31st December 2023.
Bank of Baroda (UK) Ltd announces its intention to wind down and close its UK retail banking activities Visit our website https://www.bankofbarodauk.com/ for any further information.
As per revised RBI directives all our Locker-holders are requested to visit Bank of Baroda, Base Branch.
With Bank Of Baroda personal loan, you get lowest interest rates, instant approval with minimal documentation. Checkout Bank of Baroda personal loan interest rates & eligibility. Apply now!
Apply for Bank of Baroda Home Loan online at the lowest interest rates. Checkout our home loan eligibility, interest rates, documentation. Get instant home loan approval. Apply now!
Car Loan: Apply for auto loan online by Bank of Baroda at an attractive interest rates & easy EMI option. Upto 90% financing on on-road price. Buy your dream car today!
Why should finance come in the way of future? Getting an education loan is an easy way to finance your dreams. A student loan can help you get into the university of your choice. Bank of Baroda is here to finance your dreams, education & career goals.
The easiest way to save for you, for your loved ones, and for your future. A savings account gives you the liberty to choose according to your needs and additionally give you benefits for all your transactions. With a gamut of savings account features on the table, Bank of Baroda is here to make your banking simple and easy!
Open Current Account online at Bank of Baroda to meet all your banking needs. Go to our website to learn more about the different types of current accounts we offer and apply now!
Bank of Baroda deposit plans offer convenient solutions to both working individuals as well as senior citizens. These deposits are categorised into deposits with a term period of less than 12 months, more than 12 months and recurring deposits.
An account for all. B3 Silver Account comes with maximum savings and zero Quarterly Average Balance (QAB). Also, make the most of coins and annual offers from Loyalty Rewardz to fulfill yearlong subscriptions and shopping.
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Bank of Baroda focuses on its employees, offering a career rather than just a job. Various initiatives are in place to groom employees throughout their life cycle. A comprehensive talent management system to groom future leaders of the bank.
Bank of Baroda offers various types of personal banking cards such as Credit, Debit, Prepaid, Business & Travel Cards. Choose the one best suited card for your needs.
Opt for Sukanya Samriddhi Yojana and get multiple benefits.
Devised for the welfare of the girl child through provision of finances at the time of important events of her life i.e. education and marriage. Sukanya Samriddhi Yojana scheme was launched on 02/12/2014 as part of the Beti Bachao Beti Padhao campaign. The Sukanya Samriddhi Account offers a competitive rate of interest of 8.2% along with tax benefits.
Parent of a girl child on behalf of the beneficiary can open the account any time after the birth of the girl child until she turns ten. At most, two account can be opened for up to 2 girl children each and three accounts in an exceptional case where girl children are born in the first or in the second order of birth or in both, on submission of an affidavit by the guardian supported with birth certificates of the twins/triplets regarding the birth of such multiple girl children in the first two orders of birth in a family. The beneficiary should be an Indian resident citizen.
Legal guardians or parents of the beneficiary can make the deposit until the beneficiary turns 18.
After she turns 18, she can operate the account.
The account may be opened with a minimum initial deposit of two hundred and fifty rupees and in multiples of fifty rupees thereafter and subsequent deposits shall be in multiples of fifty rupees subject to a minimum of two hundred and fifty rupees deposit in a financial year in one account. The total amount deposited in an account shall not exceed one lakh fifty thousand rupees in a financial year.
If deposit is not made each year, the account goes under default, which can be regularized by paying a small fine of Rs. 50 for each year of default along with the minimum annual deposit in respect of the defaulted years.
Yes, once the account matures, the beneficiary can collect the interest accrued along with the balance on providing the following documents:
Yes. It can be transferred to any branch/Post Office within India, once the beneficiary provides proof of change of residence.
Sukanya Samriddhi Yojana accounts can be opened with authorized commercial bank branches. These accounts can be opened, for example, at any of the Bank of Baroda’s branches. All you need to do is walk into a BOB branch with the following documents:
As per Government Savings Promotion General (Amendment) Rules, 2023 dated 03.04.2023 submission of Aadhaar Card and Pan Card/FORM 60 is mandatory for New & Existing Customers.
Frequently Asked Questions (FAQs)
Sukanya Samriddhi account is a savings scheme devised by the Government of India is to aid a girl child’s financial stability for education and marriage. The scheme encourages every girl child’s parent to deposit and create a corpus for her beneficial future.
Maturity amount entirely depends on the yearly contributions made to Sukanya Samriddhi Account. The interest earned on the account is 8.2%, but the Government of India decides Sukanya Samriddhi Yojana interest rate from time to time.
Sukanya Samriddhi Yojana Plan has a set of rules laid out by the Government of India. They include:
Under Sukanya Samriddhi Yojana Plan, a girl child’s parents can avail certain unique benefits, including – highest rate of interest amongst all savings schemes, gives financial security and stability to the child, and can reap tax benefits under section 80C of Income Tax Act, 1961.
The modality of opening a Sukanya Samriddhi Yojana account through online mode is under development.
A girl child who is a resident of India and ages between 0-10 years is eligible for opening Sukanya Samriddhi account.
Sukanya Samriddhi Account can be opened by any parent of a girl child between 0-10 years. It can be continued till maturity, I.e., 21 years post opening an account under Sukanya Samriddhi Yojna. Withdrawal of up to 50% deposit at the age of higher education is permitted. In the case of marriage, the account can be prematurely closed after attaining 18 years.
To open a Sukanya Samriddhi Account with any bank of post office, furnish documents including, account opening form, KYC complied documents of the parent of legal guardian, and birth certificate of the girl child.
The age limit is fixed by the National Savings Institution (NSI) which lies between 0-10 years.
The SSY scheme will abstain deposit for one fiscal year if it crosses 1.5 lakhs.
A parent or legal guardian can make deposits for 15 years from the date of opening Sukanya Samriddhi account.
The government of India has kept no cap on the frequency of deposits, except the payment amount in Sukanya Samriddhi yojana plan should be in multiples of Rs. 50.
Ideally, a deposit can be made at any time in a month, but it would be more beneficial to the account holder if deposits in SSA are made before the 5th of every month. As interest shall be calculated for the calendar month on the lowest balance in the account, i.e., between the close of the fifth day and the end of that month.
At Bank of Baroda, Sukanya Samriddhi Yojana plan matures after the girl child completes 21 years of age.
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