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Baroda Samriddhi Deposit

Baroda Samriddhi Deposit

  • Special Term Deposit with higher rate of interest on shorter period.
  • Rate of interest payable from 7.00% to 7.65% per annum
  • Minimum Deposit Amount – Rs.1000 and in multiples of Rs.1000. Rs.15.01 Lakhs for Non-Callable Deposits and further in multiple of Rs.1000/- Maximum deposit amount is Rs.99.99 lakhs.
  • Loan / Overdraft facility to be permitted up to 95%
  • Pre-mature Withdrawal allowed on normal deposit (not allowed on non-callable deposits)


Baroda Samriddhi Deposit Scheme


  • An individual in his own name.(Including NRE & NRO)

  • Jointly by more than one individuals.

  • Minor of age above 14 years on terms as laid down by the Bank.

  • In the names of Clubs, associations, Educational Institutions, Partnerships and joint stock companies and any other institutions, which are eligible to open a Term Deposit, account as per Bank rules.

  • The product is available for minor account having age of 14 years and below with a maximum amount that can be accepted in minor account of this age group is Rs.1,00,000/-

Amount of Deposit

  1. Minimum

  1. Maximum

  1. Rs.1,000/- (and further in multiple of Rs.1000/-) For Callable Deposits

  2. Rs.15.01 Lakhs (and further in multiple of Rs.1000/-)for Non-Callable Deposits)

Rs.99.99 lakhs

Tenure of Deposit

444 days

Rate of interest

7.00% p.a. for Callable Deposit & 7.15% p.a. for Non-Callable Deposits.(Plus Additional ROI for Senior Citizen, Staff and Staff Senior Citizen as applicable from time to time).

Payment of Interest

Frequency of Interest payment in the account will be similar as applicable on Normal Term Deposit (callable deposits) product.

Premature Closure

Premature withdrawal of the deposits allowed as per normal fixed deposit.

No Premature withdrawal of deposits allowed in case of Non-Callable Deposits.


Deposits will be automatically renewed for 12 months under normal fixed deposit scheme.

Availability of Loan/ Overdraft

Loan / Overdraft facility to be permitted up to 95% (90% in case interest is not serviced within 7 days) of outstanding balance for Callable Deposits and at 85% of outstanding balance for Non-Callable Deposits, at applicable interest rate over interest rate paid on deposit as per Bank’s extant guidelines.


  • Accepted as security by Government departments

  • Accepted as margin for non-fund based activities

Common MITC to all Fixed Deposits:

  • Rate of Interest to Senior Citizen: An Additional interest @ 0.50 % is payable for deposits below Rs.1 crore only.
  • Nomination Facility: Nomination facility will be available
  • Tax Deduction at Source: TDS will be deducted as per income Tax rules. No TDS will be deducted if a person submits form 15G/ 15H as applicable.
  • Method of Calculation of Interest on or before Maturity: “In all cases of domestic term deposits where the terminal quarter is incomplete, interest should be calculated for the actual number of days, reckoning the year 365/366 days viz the calculation of interest on such deposits should be in order of completed quarters and days.” Interest will be calculated and compounded at quarterly rests.
  • TDS Certificate: TDS certificate will be provided to all customers.
  • Overdue Deposit: If renewal request is received after date of maturity, such overdue deposits will be renewed with effect from date of maturity at interest rate applicable as on due date provided such request is received within 14 days of maturity of deposit, after which interest for overdue period will be paid at the rate decided by Bank from time to time.
  • Advance against Deposits: This facility is not available to Minor account in single name and HUF. If the interest is not deposited for more than 2 quarters, term deposit will be apportioned immediately.
  • Interest Certificate available at request of customer
  • Deposit Certificate – Term Deposit Receipt is provided
  • Term Deposits can be transferred from one branch to other branch at the request of the customer.
  • Mode of Payment: Maturity proceeds are credited SB/ CA account of the customer. In cases where there are no operative accounts of the customer, maturity proceeds can be given in cash below Rs.20,000 above which DD/ Pay Order will be issued.
  • Minor Accounts can be opened for individuals above 10 years subject to maximum cap of Rs.1,00,000/-

Bulk Deposits (More than Rs.1 crore):

  • Bulk deposits can be opened under any of the above mentioned schemes under retail time deposits.
  • Bank reserves the right to accept the deposits above Rs.25 crores.
  • Rate of interest for Bulk deposits is different from retail time deposits and is regularly updated on Bank’s website
  • Bank reserves the right to accept request for premature payment as the same is agreed at the time of account opening by the customer. On acceptance of premature payment request, the penal clause will be same as in schemes under retail time deposits.

Premature Closure

No penalty for premature payment will be levied in case of premature payment of deposits upto Rs.5 lacs provided it remained with the bank for a minimum period of 12 months

For premature closure of deposits of more than Rs.5 lac and less than Rs.1 crore, interest should be paid after deducting penalty of 1% from such applicable rate for the period the deposit has remained with the Bank, or the contracted rate whichever is lower in the cases which are subject to charging penalty

For premature closure of Deposits of Rs. 1.00 Crore and above the following conditions will apply:

  • 31 days prior notice from customer is required, and
  • Penalty @1.50% on applicable rate of interest for the period for which the deposit has remained with the bank.

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