Bank announces Financial Results for quarter ended, 30th September 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.
NOTIFICATION DATED 27.06.2023 FOR SALE / ASSIGNMENT OF FINANCIAL ASSET (NPA) to ARCs (E-AUCTION ON 14.07.2023)
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.
Locate Us, Anytime, Anywhere
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 Baroda Advantage Fixed Deposits and get multiple benefits.
A domestic term deposit wherein depositor gets differential rates interest over normal FD Deposit’s rate for deposits of Rs. 1,00,01,000 and above for foregoing premature withdrawal option. Baroda Advantage Fixed Deposits (non-callable) shall be available at all domestic branches. Open a Baroda Advantage Fixed Deposit account with us today and enjoy special benefits we have to offer!
Domestic Term Deposit Product wherein Depositor gets preferential rate of interest over normal FD Deposit’s rate for deposits of Rs 1,00,01,000 and above (for NRE Deposit – Rs. 2.00 Crores only) for foregoing premature withdrawal option.
The product shall be available at all domestic branches.
Minimum Deposit Amount
(further in multiple of Rs. 1,000/-)
Maximum Deposit Amount
(for NRE Deposits – Below Rs. 2.00 Crores only)
Minimum – 12 months
Maximum – 120 Months
Rate of Interest
Preferential rate of interest as decided by Bank from time to time will be applicable to these FDR, over the card rate. Presently “Non-Callable Terms deposits” will get additional interest as under:
For latest rates, please refer to latest circular regarding Rate of Interest.
Note: Additional interest to Senior Citizens & Staff members (including ex-staff & Retired Staff Members who are Senior Citizen) will continue as per guidelines effective from time to time.
Frequency of interest payment
Frequency of Interest payment in the account will be similar as applicable on Normal Term Deposit (Callable Deposits) product.
Tax Deduction at Source
TDS will be deducted on interest payments as per rules.
Availability of Loan/Overdraft
Loan / Overdraft facility is available as per Bank’s guidelines.
Premature Payment Facility and Penal interest
Premature withdrawal of the deposits made under the scheme is not allowed. However, Head Retail Liability Vertical is authorised to grant permission for premature withdrawal after assessing the exceptional condition and after being satisfied with the reason. Following are the exceptional conditions which can be taken into consideration while allowing the branches for premature payments of Non-Callable Term Deposits: -
In case of Premature Withdrawal, the deposit will be treated as Callable Term Deposit and the ROI applicable to Non- Callable shall not be applicable.
2% Penal Interest will be applicable for premature payment of deposits and ROI applicable will be the Contracted ROI (at time of opening of deposit) or for the period for which the deposit has actually remained with the Bank, whichever is lower.
Penalty will not be applicable in case of error made by the branch.
Auto Renewal facility
In the absence of clear renewal instructions by customers, Deposits having value less than Rs. 2.00 Crores on date of maturity, shall be renewed automatically for 12 months at prevailing rate of interest applicable for 12 months period as on the date of maturity in corresponding Normal FD scheme (Callable FD Scheme - RIRD / MIP / QIP).
In case of deposits having Principal value Rs. 2.00 Crore & above, it will be renewed automatically on maturity under respective Normal FD scheme (callable FD Scheme) if such instruction are given by depositor at time of opening the account. In the absence of any renewal instructions, the proceeds of such deposits will be credited to depositor’s operative account on maturity.
Special terms & conditions
Accepted as security by Government departments & as margin for non-fund based activities subject to their acceptance for not demanding pre-mature payment.
Accepting the deposits in the revised Application cum Deposit Slip
(F. No. 410)
To avoid any disputes in future, the main feature of Non-Callable TD “No premature withdrawal allowed under any reason whatsoever”, has to be brought to the notice of customer, following procedure should be adopted:
Other Terms and conditions
Eligibility norms and all other instructions applicable to 'Term Deposits' will apply to these deposits.
Note: The product is not available for minors age of 14 years & below as the maximum amount that can be accepted in minor account of this age group is Rs. 1,00,000/-
For Interest Rates & Charges Please. Click Here
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.”
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.
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.
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.
Please fill in these details, so we can call you back and assist you.
Frequently Asked Questions (FAQs)
Non-callable deposits are those that cannot be withdrawn before the maturity date. If non-callable deposits are redeemed prematurely due to extraordinary circumstances, they are subject to a penalty and the danger of receiving a lower-than-guaranteed interest rate. It is a term lock deposit that will last until its maturity.
This is a domestic term deposit with higher interest rates than standard FDs because this deposit prohibits premature withdrawals. The minimal down payment is Rs. 15.01 lakhs.
There is no upper limit for non–callable FD and the minimum is Rs 15.01 Lakhs that can be increased to the multiple of Rs 1000.
Premature withdrawal of the deposits made under the scheme shall not be allowed before maturity for any reason whatsoever except in the following exceptional cases such as:
Non-Callable fixed deposits offer a differential rate of interest over normal rate FDs as this deposit forgoes premature withdrawals. The minimum deposit is Rs. 15.01 lakhs.
The minimum tenure in non-callable bulk term deposit is 1 year.
The maximum non-callable FD has no limit. For NRE, deposits should be below Rs. 2 crores only.
In the event of an early withdrawal, the deposit will be classified as a Callable Term Deposit, and the ROI applicable to Non-Callable deposits would be forfeited. Premature payment of deposits will result in a 2% penalty interest charge, and the ROI applicable will be the contracted ROI (at the time of deposit opening) or the period for which the deposit has actually been with the bank, whichever is less. Premature withdrawals of Non-Callable FDs are severely discouraged by the bank.
Yes, loan and overdraft facilities are available as per the bank’s guidelines.
This is to inform you that by clicking on continue, you will be leaving our website and entering the website/Microsite operated by Insurance tie up partner. This link is provided on our Bank’s website for customer convenience and Bank of Baroda does not own or control of this website, and is not responsible for its contents. The Website/Microsite is fully owned & Maintained by Insurance tie up partner.
Proceed to the website
Thank you for visiting www.bankofbaroda.in