Deposit Rates & Service Charges

Interest Rates and Service Charges

Fixed Deposits (Callable):

Domestic Term Deposits including NRO Deposits below ₹ 3.00 Crores, ROI in % [Fresh & Renewal] - (w.e.f 14-10-2024)

Tenors	Residents / General Public	Resident Indian Sr. Citizen	Resident Super Senior Citizen
7 days to 14 days	4.25	4.75*	4.75*
15 days to 45 days	4.50	5.00*	5.00*
46 days to 90 days	5.50	6.00*	6.00*
91 days to 180 days	5.60	6.10*	6.10*
181 days to 210 days	5.75	6.25*	6.25*
211 days to 270 days	6.25	6.75*	6.75*
271 days & above and less than 1 year	6.50	7.00*	7.00*
1 year	6.85	7.35*	7.35*
Above 1 year to 400 days (except 400 Days)	7.00	7.50*	7.60 ^$
Above 400 days and upto 2 Years	7.00	7.50*	7.60 ^$
Above 2 Years and upto 3 Years	7.15	7.65*	7.75 ^$
Above 3 Years and upto 5 Years	6.80	7.40 ^#	7.50 ^$
Above 5 Years and upto 10 Years	6.50	7.50**	7.50**
Above 10 years (MACAD only)	6.25	6.75*	6.75*

(* incl. additional ROI 0.50% for RTD upto 3 Years and additional ROI 0.50% for Above 10 Years, # incl. additional ROI of 0.50+0.10 (reduced from 0.15%) for RTD above 3 Years and upto 5 Years w.e.f 14.10.2024, **incl. additional ROI of 0.50%+0.50% for RTD above 5 Years and upto 10 Years to Resident Senior Citizens and $ includes 0.10% for Super Senior Citizens for Deposits above 1 year and upto 5 years)

bob Utsav Deposits Scheme

Tenors	Residents / General Public / NRO ROI (%)	Resident Indian Senior Citizen ROI (%)*	Residents Super Senior Citizen ROI(%)*
Bob Utsav Deposit Scheme (400 Days)	7.30	7.80 ^*	7.90 ^$

(* incl. additional ROI 0.50% for RTD upto 3 Years and additional ROI 0.50% for Above 10 Years, $ includes 0.10% for Senior Citizens for Deposits above 1 year and upto 5 years)

bob earth Green Term Deposits - Domestic & NRO Deposits below ₹ 3.00 Crores, ROI in % [Fresh & Renewal] - (w.e.f 14-10-2024)

Tenure of Green Deposit	Resident/General Public/NRO/NRE	Resident Indian Sr. Citizen	Resident Indian Super Sr. Citizen
12 months	6.80	7.30*	7.30*
1.5 years	6.95	7.45*	7.55 ^*
777 days	7.10	7.60*	7.70 ^*
1111 days	6.75	7.35#	7.45 ^#
1717 days	6.75	7.35#	7.45 ^#
2201 days	6.45	7.45**	7.45**

Domestic Term Deposits & NRO Deposits ₹ 3.00 Crores to ₹ 10.00 Crores [Fresh & Renewal] ROI in % - (w.e.f. 12.12.2024)

	₹ 3.00 Crores up to ₹ 5.00 Crores			₹ Above 5.00 Crores up to ₹ 10.00 Crores
TENOR	Rs. 3.00 Crs to upto Rs. 4.00 Crs	Above Rs. 4.00 Crs to upto Rs. 5.00 Crs	Above Rs. 5.00 Crs to upto Rs. 6.00 Crs	Above Rs. 6.00 Crs to upto Rs. 7.00 Crs	Above Rs. 7.00 Crs to upto Rs. 8.00 Crs	Above Rs. 8.00 Crs to upto Rs. 9.00 Crs	Above Rs. 9.00 Crs to upto Rs. 10.00 Crs
7D to 14D	5.00	5.00	5.00	5.00	5.00	5.00	5.00
15D to 45D	5.00	5.00	5.00	5.00	5.00	5.00	5.00
46D to 90D	6.00	5.75	6.00	5.75	5.75	5.75	5.75
91D to 180D	5.75	5.75	5.75	5.75	5.75	5.75	5.75
181D to 210D	6.50	6.50	6.50	6.50	6.50	6.50	6.50
211D to 270D	6.75	6.75	6.75	6.75	6.75	6.75	6.75
271D to less than 1Y	6.75	6.75	6.75	6.75	6.75	6.75	6.75
1 Year	7.45	7.45	7.55	7.55	7.75	7.55	7.80
Above 1Y to 15M	6.85	6.85	6.75	6.75	6.75	6.75	6.75
Above 15M to 2Y	6.85	6.85	6.75	6.75	6.75	6.75	6.75
Above 2Y to 3Y	6.50	6.50	6.50	6.50	6.50	6.50	6.50
Above 3Y to 5Y	6.00	6.00	6.00	6.00	6.00	6.00	6.00
Above 5Y and upto 10Y	5.00	5.00	5.00	5.00	5.00	5.00	5.00

Note:

*Bulk Deposit rates are indicative, For the latest rates, Kindly contact the Nearest Branch.

bob earth Green Term Deposits - Domestic & NRO Deposits ₹ 3.00 Crores to ₹ 10.00 Crores [Fresh & Renewal] ROI in % - (w.e.f. 12-12-2024)

BUCKET	Rs. 3.00 Crs to upto Rs. 4.00 Crs	Above Rs. 4.00 Crs to upto Rs. 5.00 Crs	Above Rs. 5.00 Crs to upto Rs. 6.00 Crs	Above Rs. 6.00 Crs to upto Rs. 7.00 Crs	Above Rs. 7.00 Crs to upto Rs. 8.00 Crs	Above Rs. 8.00 Crs to upto Rs. 9.00 Crs	Above Rs. 9.00 Crs to upto Rs. 10.00 Crs
1 Year i.e 12 months	7.40	7.40	7.50	7.50	7.70	7.50	7.75
1.5 years i.e. 18 months	6.80	6.80	6.70	6.70	6.70	6.70	6.70
777 days	6.45	6.45	6.45	6.45	6.45	6.45	6.45
1111 days	5.95	5.95	5.95	5.95	5.95	5.95	5.95
1717 days	5.95	5.95	5.95	5.95	5.95	5.95	5.95
2201 days	4.95	4.95	4.95	4.95	4.95	4.95	4.95

Domestic NRE Term Deposits ₹ 3.00 Crores to ₹ 10.00 Crores [Fresh & Renewal] ROI in % - (w.e.f. 12.12.2024)

	₹ 3.00 Crores up to ₹ 5.00 Crores			₹ Above 5.00 Crores up to ₹ 10.00 Crores
TENOR	Rs. 3.00 Crs to upto Rs. 4.00 Crs	Above Rs. 4.00 Crs to upto Rs. 5.00 Crs	Above Rs. 5.00 Crs to upto Rs. 6.00 Crs	Above Rs. 6.00 Crs to upto Rs. 7.00 Crs	Above Rs. 7.00 Crs to upto Rs. 8.00 Crs	Above Rs. 8.00 Crs to upto Rs. 9.00 Crs	Above Rs. 9.00 Crs to upto Rs. 10.00 Crs
1 Year	7.45	7.45	7.55	7.55	7.75	7.55	7.80
Above 1Y to 15M	6.85	6.85	6.75	6.75	6.75	6.75	6.75
Above 15M to 2Y	6.85	6.85	6.75	6.75	6.75	6.75	6.75
Above 2Y to 3Y	6.50	6.50	6.50	6.50	6.50	6.50	6.50
Above 3Y to 5Y	6.00	6.00	6.00	6.00	6.00	6.00	6.00
Above 5Y and upto 10Y	5.00	5.00	5.00	5.00	5.00	5.00	5.00

Note:

*Bulk Deposit rates are indicative, For the latest rates, Kindly contact the Nearest Branch.

Domestic Term Deposits including NRO Deposits of Above Rs 10 Crores to upto Rs 1000 Crores, ROI in % [Fresh & Renewal] - (w.e.f. 13-12-2024)

Maturity Range	Amount of Deposit Per receipt
Maturity Range	Above Rs 10 cr. to upto Rs 25 cr.	Above Rs 25 cr. to upto Rs 50 cr.	Above Rs 50 cr. to upto Rs 100 cr.	Above Rs 100 cr. to upto Rs 500 cr.	Above Rs 500 cr. to upto Rs 1000 cr.	Above Rs 1000 cr.
7 days to 14 days	4.50	4.50	4.50	4.50	4.50	4.50
15 days to 45 days	5.00	5.00	5.00	5.00	5.00	5.00
46 days to 90 days	5.50	5.50	5.50	5.50	5.50	5.50
91 days to 180 days	6.00	6.00	6.00	6.00	6.00	6.00
181 days to 270 days	7.00	7.00	7.00	7.00	7.00	7.00
271 days & above and less than 1 year	7.25	7.25	7.25	7.25	7.25	7.25
1 year	7.60	7.70	7.70	7.80	7.45	7.45
Above 1 Year and upto 2 Years	7.00	7.00	7.00	7.00	7.00	7.00
Above 2 Years and upto 3 Years	6.00	6.00	6.00	6.00	6.00	6.00
Above 3 Years and upto 5 Years	5.25	5.25	5.25	5.25	5.25	5.25
Above 5 Years and upto 10 Years	**	**	**	**	**	**

Bulk Deposit rates are indicative, For the latest rates, Kindly contact the Nearest Branch.

NRE Term (Rupee) Deposits Below ₹ 3.00 Crore, ROI in % [Fresh & Renewal] – (w.e.f. 14-10-2024)

Tenors	ROI (%)
1 year	6.85
Above 1 year to 400 days	7.00
Above 400 days and upto 2 Years	7.00
Above 2 Years and upto 3 Years	7.15
Above 3 Years and upto 5 Years	6.80
Above 5 Years and upto 10 Years	6.50

Tenors	ROI (%)
Bob Utsav Deposit Scheme (400 Days)	7.30

bob earth Green Term Deposits - NRE Term Deposits of ₹ 3.00 Crores to ₹ 10.00 Crores [Fresh & Renewal] ROI in % - (w.e.f. 12-12-2024)

BUCKET	Rs. 3.00 Crs to upto Rs. 4.00 Crs	Above Rs. 4.00 Crs to upto Rs. 5.00 Crs	Above Rs. 5.00 Crs to upto Rs. 6.00 Crs	Above Rs. 6.00 Crs to upto Rs. 7.00 Crs	Above Rs. 7.00 Crs to upto Rs. 8.00 Crs	Above Rs. 8.00 Crs to upto Rs. 9.00 Crs	Above Rs. 9.00 Crs to upto Rs. 10.00 Crs
1 Year i.e 12 months	7.40	7.40	7.50	7.50	7.70	7.50	7.75
1.5 years i.e. 18 months	6.80	6.80	6.70	6.70	6.70	6.70	6.70
777 days	6.45	6.45	6.45	6.45	6.45	6.45	6.45
1111 days	5.95	5.95	5.95	5.95	5.95	5.95	5.95
1717 days	5.95	5.95	5.95	5.95	5.95	5.95	5.95
2201 days	4.95	4.95	4.95	4.95	4.95	4.95	4.95

NRE Term Deposits of Above Rs. 10 crores to upto Rs.1000 Crores, ROI in % [Fresh & Renewal] - (w.e.f. 13-12-2024)

Maturity Range	Amount of Deposit Per Receipt
Maturity Range	Above Rs.10 cr. to upto Rs.25 cr.	Above Rs.25 cr. to upto Rs.50 cr.	Above Rs.50 cr. to Rs.100 cr .	Above Rs.100 cr. to Rs.500 cr .	Above Rs.500 cr. to Rs.1000 cr.	Above Rs.1000 cr.
1 year	7.60	7.70	7.70	7.80	7.45	7.45
> 1 year up to 2 years	7.00	7.00	-	-	-	-
> 2 years up to 3 years	6.00	6.00	-	-	-	-
> 3 yrs. upto 5 yrs.	-	-	-	-	-	-
> 5 yrs. upto 10 yrs.	-	-	-	-	-	-

Bulk Deposit rates are indicative, For the latest rates, Kindly contact the Nearest Branch.

Fixed Deposits (Non-Callable):

* Premature withdrawal of fixed deposits is not permitted under 'non-callable' deposit schemes.

Baroda Advantage Fixed Deposit (Domestic, NRE & NRO) Accounts, ROI in % (Minimum Single Deposit above ₹1 crores & below ₹3 Crores) [Fresh & Renewal] - (w.e.f. 14-10-2024)

Tenors	General/NRE/NRO	Senior Citizen	Residents Super Senior Citizen
1 Years	6.90	7.40*	7.40*
Above 1 year to 400 days (except 400 days)	7.05	7.55*	7.65 ^$
Above 400 days and upto 2 Years	7.05	7.55*	7.65 ^$
Above 2 Years and upto 3 Years	7.20	7.70*	7.85 ^$
Above 3 Years and upto 5 Years	6.85	7.45^#	7.55 ^$
Above 5 Years and upto 10 Years	6.55	7.55**	7.55**

Note :
(* incl. additional ROI 0.50% for RTD upto 3 Years and additional ROI 0.50% for Above 10 Years, # incl. additional ROI of 0.50+0.10 (reduced from 0.15%) for RTD above 3 Years and upto 5 Years w.e.f 14.10.2024, **incl. additional ROI of 0.50%+0.50% for RTD above 5 Years and upto 10 Years to Resident Senior Citizens and $ includes 0.10% for Super Senior Citizens for Deposits above 1 year and upto 5 years)
.

bob Utsav Deposits Scheme

Tenors	General/NRE/NRO	Senior Citizen	Residents Super Senior Citizen
Bob Utsav Deposit Scheme (400 Days)	7.35	7.85 ^*	7.95 ^$

(* incl. additional ROI 0.50% for RTD upto 3 Years and additional ROI 0.50% for Above 10 Years, $ includes 0.10% for Senior Citizens for Deposits above 1 year and upto 5 years)

Domestic Term Deposits including NRE/NRO of ₹ 3.00 Crores to ₹ 10.00 Crores [Fresh & Renewal] ROI in % - (w.e.f. 12.12.2024)

	₹ 3.00 Crores up to ₹ 5.00 Crores			₹ Above 5.00 Crores up to ₹ 10.00 Crores
TENOR	Rs. 3.00 Crs to upto Rs. 4.00 Crs	Above Rs. 4.00 Crs to upto Rs. 5.00 Crs	Above Rs. 5.00 Crs to upto Rs. 6.00 Crs	Above Rs. 6.00 Crs to upto Rs. 7.00 Crs	Above Rs. 7.00 Crs to upto Rs. 8.00 Crs	Above Rs. 8.00 Crs to upto Rs. 9.00 Crs	Above Rs. 9.00 Crs to upto Rs. 10.00 Crs
1 Year	7.55	7.55	7.65	7.65	7.85	7.65	7.90
Above 1Y to 15M	6.95	6.95	6.85	6.85	6.85	6.85	6.85
Above 15M to 2Y	6.95	6.95	6.85	6.85	6.85	6.85	6.85
Above 2Y to 3Y	6.60	6.60	6.60	6.60	6.60	6.60	6.60
Above 3Y to 5Y	6.10	6.10	6.10	6.10	6.10	6.10	6.10
Above 5Y and upto 10Y	5.10	5.10	5.10	5.10	5.10	5.10	5.10

Note:

*Bulk Deposit rates are indicative, For the latest rates, Kindly contact the Nearest Branch.

bob earth Green Term Deposits - Domestic, NRE & NRO Deposits below ₹ 3.00 Crores, ROI in % [Fresh & Renewal] - (w.e.f 14-10-2024)

Tenure of Green Deposit	Resident/General Public/NRO	Resident Indian Sr. Citizen	Resident Super Senior Citizen
12 months	6.95	7.35*	7.35*
Above 1 Yr to 400 days (ecxept 400 days)	7.00	7.50*	7.60 ^$
Above 400 days to 2 Yrs	7.00	7.50*	7.60 ^$
Above 2 Yr to 3 Yr	7.15	7.65*	7.80 ^$
Above 3 Yr to 5 Yr	6.80	7.40^#	7.50^$
5 Yr to 10 Yr	6.50	7.50**	7.50**

bob earth Green Term Deposits - Domestic Term Deposits (including NRE/NRO of ₹ 3.00 Crores to ₹ 10.00 Crores [Fresh & Renewal] ROI in % - (w.e.f. 12-12-2024)

BUCKET	Rs. 3.00 Crs to upto Rs. 4.00 Crs	Above Rs. 4.00 Crs to upto Rs. 5.00 Crs	Above Rs. 5.00 Crs to upto Rs. 6.00 Crs	Above Rs. 6.00 Crs to upto Rs. 7.00 Crs	Above Rs. 7.00 Crs to upto Rs. 8.00 Crs	Above Rs. 8.00 Crs to upto Rs. 9.00 Crs	Above Rs. 9.00 Crs to upto Rs. 10.00 Crs
1 Year i.e 12 months	7.50	7.50	7.60	7.60	7.80	7.60	7.85
1.5 years i.e. 18 months	6.90	6.90	6.80	6.80	6.80	6.80	6.80
777 days	6.55	6.55	6.55	6.55	6.55	6.55	6.55
1111 days	6.05	6.05	6.05	6.05	6.05	6.05	6.05
1717 days	6.05	6.05	6.05	6.05	6.05	6.05	6.05
2201 days	5.05	5.05	5.05	5.05	5.05	5.05	5.05

Baroda Advantage Fixed Deposit (Domestic) Accounts of Above Rs. 10 crores to upto Rs.1000 Crores, ROI in % - (w.e.f. 13-12-2024)

Tenors	Above Rs. 10 Cr. to upto Rs. 25 Cr.	Above Rs. 25 Cr. to upto Rs. 50 Cr.	Above Rs. 50 Cr. to upto Rs. 100 Cr.	Above Rs. 100 Cr. to upto Rs 500 Cr.	Above Rs. 500 Cr. to upto Rs 1000 Cr.	Above Rs. 1000 Cr.
1 year	7.60	7.70	7.70	7.80	7.45	7.45
Above 1 Years and upto 2 Years	7.00	7.00	7.00	7.00	7.00	7.00
Above 2 Years and upto 3 Years	6.00	6.00	6.00	6.00	6.00	6.00
Above 3 Years and upto 5 Years	5.25	5.25	5.25	5.25	5.25	5.25
Above 5 Years and upto 10 Years	-	-	-	-	-	-

Bulk Deposit rates are indicative, For the latest rates, Kindly contact the Nearest Branch.

Fixed Deposits (Tax Saving):

Baroda Tax Savings Fixed Deposit, ROI in % [Fresh & Renewal] - (w.e.f. 14-10-2024)

Tenors	Residents / General Public / NRO ROI (%)	Resident Indian Senior Citizen ROI (%)*	Residents Super Senior Citizen ROI(%)*
For 5 years	6.80	7.40 ^#	7.50 ^$
Above 5 years to up to 10 years	6.50	7.50**	7.50**

FCNR(B) - Deposits:

Foreign Currency Non-resident Deposit - FCNR(B) - Deposits w.e.f. 16^th November, 2024 . The rates shall be effective up to 15^th December, 2024. (Rates are subject to change as per Bank’s discretion)

Maturity Period	LESS THAN USD 2 LACS	USD 2 LACS TO 10 LACS	ABOVE USD 10 LACS	GBP	EUR	AUD	CAD
1 Year	5.25 (5.50)	5.50 (5.80)	5.50 (5.80)	4.75 (5.00)	-	-	-
Above 1 Yr. to less than 2 yrs.	5.25 (5.50)	5.25 (5.50)	5.25 (5.50)	4.50 (4.75)	1.50 (1.50)	3.60 (3.60)	4.00 (4.50)
2 Yrs. to less than 3 yrs.	3.95 (3.95)	3.95 (3.95)	3.95 (3.95)	2.35 (2.35)	1.50 (1.50)	3.50 (3.50)	4.10 (4.10)
3 Yrs. to less than 4 yrs.	3.80 (3.80)	3.80 (3.80)	3.80 (3.80)	2.45 (2.45)	1.50 (1.50)	3.00 (3.00)	3.85 (3.85)
4 Yrs. to less than 5 yrs.	3.85 (3.85)	3.85 (3.85)	3.85 (3.85)	2.45 (2.45)	1.50 (1.50)	3.00 (3.00)	3.90 (3.90)
5 Years	3.90 (3.90)	3.90 (3.90)	3.90 (3.90)	2.45 (2.45)	1.50 (1.50)	3.00 (3.00)	3.95 (3.95)

(Figures in bracket indicate rate of interest before revision)

The above rates will be applicable for fresh and existing FCNR (B) deposits which are renewed on maturity.

Please note that no additional interest is permitted to Senior Citizen and Staff.

Premature withdrawal of FCNR (B) deposit:

The rate of interest applicable in the case of FCNR (B) deposits will be one 1% less than the actual interest payable for the period for which it has run prevailing on the date of issue of receipt or on the date when the depositor seeks premature withdrawal, whichever is lower, provided the deposit has run for a minimum period of one year.
No interest will be payable on premature withdrawal of deposit within twelve months from the date of deposit.

SB Deposits:

Slab wise Revised Rate of interest on SB Deposits, ROI in % - (w.e.f 27.02.2024)

Present SB Interest Rate Slab on O/s Balance	Interest Rates
Upto Rs. 1.00 lakh	2.75
Above Rs 1.00 Lakh to less than Rs. 10 Crores	2.75
Rs. 10 Crores and above to less than Rs. 50 Crores	2.75
Rs. 50 Crores and above to less than Rs. 100 Crores	3.00
Rs.100 Crore and above to less than Rs.200 Crores	3.00
Rs 200 crores and above to less than Rs 500 crores	3.05
Rs 500 crores and above to less than Rs 1,000 crores	4.10
Rs 1,000 crores and above	4.50

Notes:

Capital Gain Account Scheme, 1988:
For all Deposits under Capital Gain Accounts Scheme, 1988, interest rate will be applicable as per normal time & period. It will also not be in order to offer higher/differential rate of interest on deposits received under the Capital Gains Accounts Scheme, 1988.
Premature withdrawal of Deposits:
- No penalty for premature payment will be levied in case of premature payment of deposits up to Rs 5 lacs provided it remained with the bank for a minimum period of 12 months
- Interest should be paid after deducting penalty of 1% from such applicable rate or the contracted rate whichever is lower in the cases which are subject to charging penalty.
- Condition for premature closure of Deposits of Rs. 1.00 Crore and above i.e. 31 days prior notice, and Penalty @1.5% on applicable rate of interest for the period for which the deposit has remained with the bank.

Interest Payment:
In terms of Reserve Bank of India directives, interest shall be calculated at quarterly compounding intervals on Term Deposits and paid at the rate decided by the Bank depending upon the period of deposits. In case of Monthly Deposit Scheme, the interest shall be calculated for the quarter on compounding basis and paid monthly at discounted value. The interest on Term deposits is calculated by the Bank in accordance with the formulae and conventions advised by Indian Banks' Association.

Accordingly Bank has adopted following methodology.

In all cases of Domestic Term Deposits (period of deposit more than a year) where the terminal quarter is incomplete, interest should be calculated for complete quarter and 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.

Deposit placed for more than two quarters/six months but less than one year interest will be calculated first for completed quarters and for terminal incomplete quarter, actual number of days reckoning the year at 365/366 days. Interest will be calculated and compounded at quarterly rests.

The Maturity Amount mentioned in the receipt is calculated without giving TDS effect. While calculating interest for half year(Quarterly compounded), the interest calculated for previous half year (quarterly compounded) minus TDS will be added to principal amount for calculating interest for current Half Year.

Deposit placed for more than one quarter/3 months to less than or equal to 181 days/6 months interest will be calculated first for completed quarter and thereafter for actual number of days if terminal quarter is incomplete reckoning year at 365/366 days. While calculating interest for days the interest calculated for quarter will be added to principal amount for calculating interest for remaining days of terminal quarter.

Deposit placed for period less than one quarter/3 months interest will be calculated for the actual number of days on the basis of 365/366 days in a year.

Interest rates on NRE/ NRO deposits shall not be higher than those offered by the bank on comparable domestic rupee term deposits.

The interest on FCNR (B) deposits shall be paid at the rates calculated in accordance with the basis prescribed by the Reserve Bank of India (RBI) from time to time for various maturities. The FCNR (B) interest rates shall not be subject to negotiation between the depositors and the bank. Interest on the FCNR (B) deposits accepted under the scheme shall be calculated on the basis of 360 days to a year. The interest on FCNR (B) deposits shall be calculated and paid at intervals of 180 days each and thereafter for the remaining actual number of days. The FCNR (B) interest rates offered shall be reasonable, consistent, transparent and available for supervisory review/scrutiny as and when required. All transactions, involving payment of interest on FCNR (B) deposits shall be rounded off to two decimal places.

further, details can be found at bankofbaroda.in/hi-in/customer-support/policy-documents

The interest on FCNR deposits shall be paid at the rates calculated in accordance with the basis prescribed by the Reserve Bank of India (RBI) from time to time for various maturities. The interest on FCNR deposits shall be paid on the basis of 360 days to a year and shall be calculated at intervals of 180 days each.

Deduction of Income tax at source from payment of interest on time deposits (section 194A of income tax act 1961) w.e.f 1st July 1995

Income Tax is to be deducted in cases where the total interest paid or credited on all time deposits in the name of a depositor with Bank as a whole, whether singly or jointly (as first named person) exceeds the specified limit per financial year as under income tax act 1961, Tax is to be deducted either at the time of credit to the account or payment of interest to the depositor whichever is earlier subject to change in limits of interest eligible for tax limit from time to time.

In case the depositor submits following Form before end of April every year, no tax may be deducted.

Non-corporate customers other than Senior Citizens - Form No.15G along with PAN (w.e.f. 1st April 2010).

Senior Citizens i.e. individuals of the age of -60- years or more - Form No.15H along with PAN (w.e.f. 1st April 2010) w.e.f. 1st April 2010 I.T. Department has made it mandatory to quote Permanent Account No. (PAN) by deductees in all cases where TDS is applicable, failure of which would attract the TDS at a higher rate of 20% (against normal rate of 10%) or normal rate whichever is higher. Further it has also been made compulsory to mention PAN on form No.15G / 15H w.e.f. 1st April 2010.

The Bank will issue a system generated tax deduction certificate (TDS Certificate) for the amount of tax deducted on quarterly basis.

Interest earned/accrued on NRE & FCNR Term Deposits is tax free in India under the relevant provisions of Income Tax Act in India and hence no tax at source is deductible in respect of these deposits. “In case of NRO deposits” The depositor can claim the benefit of reduced rates of tax under Double Tax Avoidance Agreement (DTAA), which India has with the governments of various countries, by submitting the documents prescribed by the Bank at the beginning of every financial year.

However, Bank has statutory obligation to deduct tax at source on any interest paid / payable on NRO Term Deposits at the specified rates. If PAN is submitted with a declaration applicable under Double Tax Avoidance Treaty - TDS is deducted @ applicable rate for the country of residence of the customer.

If PAN is submitted without declaration - TDS is deducted @30%

If declaration is submitted without PAN - TDS @normal rate or 20% whichever is higher.

If PAN and declaration is not submitted - TDS @30%

All interest payments will be rounded off to the nearest rupee.

The Term Deposit account holders at the time of placing their deposits can give instructions with regard to closure of Deposit account or renewal of deposit for further period on the date of maturity. In absence of such mandate, the Bank will automatically renew the deposit as under.

If Deposit is placed for more than one year it will be automatically renewed for one year at the prevailing rate on due date.

If Deposit is placed for less than one year it will be automatically renewed for same period at the prevailing rate on due date.

In case, the customer wishes to make changes in the tenure or wants premature proceeds of the Term deposit, the same is allowed at the written request of the customer. In case of deposits under callable scheme premature withdrawal of bulk deposit is done as per Bank’s discretion.

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