Bank announces Financial Results for quarter/year ended, 31st March 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.
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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 Flexible Recurring Deposit Scheme and get multiple benefits.
The Yatha Shakti Jama Yojana is a flexible recurring deposit account with attractive offerings like monthly instalments. Eligibility is simple and can be opened by any individual in his/her name or more than one individual in joint name. Clubs, associations, educational institutions, partnerships are also eligible to open an account.
All individuals and non-individuals
Minimum : 12 months
Maximum : 120 months
As per the maturity period of the deposit
Interest should be paid after deducting a penalty of 1% from such applicable rate or the contracted rate whichever is lower in the cases which are subject to charging penalty.
Loan/overdraft facility is permitted up to 95% of outstanding balance at interest rate as per bank's guidelines issued from time to time.
One month after payment of the last instalment or due date, whichever is later.
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.
Rate of Interest to Senior Citizen: An additional interest @ 0.50 % is payable for deposits below Rs. 1 crore. only
Payment of Instalments:The instalment for any calendar month must be paid on or before the last working day of that month. In case of delay in payment of any instalment, penalty shall be charged which is at present, `.1.00 + GST for every `.100 p.m., fraction of a number being treated as a full month for the purpose of calculating such penalty.
Instalments paid during the course of the calendar month in which it is due, shall be deemed as payment made in time.
Alternatively, the depositor may continue the account till maturity without regularising it (i.e., without paying the amount of instalment in arrears plus penal interest). In such cases deposits are to be treated at par with Yatha Shakti Jama Yojana for the purpose of calculation of interest.
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.
TDS Certificate: TDS certificate will be provided to all customers.
Advance Against Deposits:This facility is not available to a minor account in single name and HUF. For advances taken against deposits, if the depositor does not settle the account within 90 days, bank has the right to settle the overdraft account against his term deposit.
Mode of Payment: Maturity proceeds are credited to the 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
A regular RD can be converted to Baroda Yatha Shakti Jama Yojana Scheme.
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