Features & Benefits Flexible Recurring Deposit Scheme

By: Bank of Baroda
Wed Jul 3, 2019
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Flexible Recurring Deposit Scheme (Yatha Shakti Jama Yojana)

Bank of Baroda offers its customers a unique scheme that makes it possible for you to save money flexibly, month after month. You can avail the attractive Yatha Shakti Jama Yojana - a flexible recurring deposit scheme which comes with a host of benefits and salient features. Under the flexi recurring deposit scheme, depositors may choose a small core amount to open their deposit and increase the core amount subsequently, up to three times.

Features of the Flexible Recurring Deposit Scheme

Opening the flexi RD

The flexi RD can be opened with a small initial amount of Rs.100 only

Amount of deposit

Depositors may choose their initial amounts in multiples of Rs 100, up-to a maximum amount of ₹10,000. You may choose to deposit either your core amount or up-to 3 times your core amount. Core amount contributions are mandatory in this scheme.

Tenure of deposit

The tenure of the recurring deposit schemes range from 12 months to 120 months.

Interest payment

Interest on the flexi RD will be paid and credited on a half yearly basis in the months of September and March. The interest paid is calculated on daily balances, with half yearly compounding of interest.

Benefits of the Flexible Recurring Deposit Scheme

Additional interest rate benefits

Senior citizens with deposits below ₹1 crore are eligible for 0.50% additional interest. Staff and ex-staff members of Bank of Baroda are also provided with additional interest. Ex-staff members who are senior citizens can avail both bonus interest rates.

Nomination facility

Nomination facility is also offered to flexi RD holders.

Premature withdrawal facility

Interest is paid after deducting a penalty of 1% from applicable rates or contracted rates, whichever is lower in only those cases that are subject to charging penalty.

Loan and overdraft facility

You may avail a loan or overdraft facility against the flexi RD of up to 95% of the outstanding balance in your account at interest rates as per Bank of Baroda guidelines.

No penalty

No penalties are levied for delayed payments of monthly instalments.


No TDS will be deducted for persons submitting forms 15G/15H as applicable

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