If you are looking for a deposit scheme that contributes yo with security, relaxation and liquidity Baroda Fast Access Deposit Scheme is a wise option. This scheme facilitates you with the option of overdrawing your account up to 95% of your deposit.
Features
Benefits | · No requirement of additional documentation for availing overdraft. · Senior citizen gets to enjoy an additional 0.50% interest. |
Minimum Deposit | Rs 10,000 and multiples of Rs 1000(under RIRD plan) thereafter. |
Overdraft Facility | Available up to 95% of the deposit amount right from the first day. |
Nomination Facility | Available |
Tenure | Minimum of 12 months and maximum of 120 months. |
Documents Required | · Passport size photo · Address Proof · An introduction as per bank norms |
TDS | TDS is deducted on the interest payment as per the guidelines of the bank. |
Terms and Condition
- Interest under this particular scheme is compounded quarterly depending upon the maturity period of the deposit.
- There is no penalty for pre mature payment of deposit up to an amount of Rs 5 lacs provided that the amount must remain with the bank for a minimum period of 12 months.
- A minimum amount of Rs 10,000 must be deposited at the opening of the account.