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Short Deposits

Secure Your Money
And Watch It Grow Too.

Baroda Fixed Deposit Accounts

Short Term Deposit

A Scheme for High Return on your savings even for a short period of less than 1 year. An ideal option for all transitory savings to meet the requirements. An ideal option for all transitory savings.

  • Overdraft / loan against deposit provided on demand upto 95% of deposit amount without any guarantor and processing fee, filling of any forms etc. even for 1 day and upto the maturity period of deposits to meet short term requirements and needs.
  • For such advances interest shall be charged 1.5% over the deposit rate with monthly rests in case of depositor -borrower and in case your friends want to avail loan against your deposit the rate of interest will be a little higher depending on loan amount.
  • Accepted as a Security by Govt. Dept.
  • Accepted as margin for Non-fund based facilities.
  • Nomination facility is available.
  • Minimum deposit amount of Rs.1000/-
  • Minimum period of deposits - 7 days
  • Maximum - less than 12 months. ( period of 7 days to 14 days - applicable for deposits of Rs. 15 lacs and above)
  • For opening of the account - two passport size photographs, documents relating to proof of residence, and introduction from a person known to the Bank (bank's customer/ existing account holder) are required.
  • Rate of interest depends on maturity period.
  • An additional interest @ 0.50% for Senior Citizens against their deposits of Rs. 10,000/- and above.
  • Interest payment is subject to Tax Deducted at source(TDS) as per prevailing Income Tax ACT.
  • However, tax is deducted at source (TDS) on deposits that earn interest more than Rs.10,000/- per year.


All Individuals and Non-individuals

Amount of Deposit

  • Minimum
    • Rs.1000/- and in multiples of Rs.100/-
  • Maximum
    • No upper limit

Tenure of Deposit

Minimum : 7 Days

Maximum : Less than 12 Months

Rate of interest

As per the maturity period of the deposit

Payment of Interest

Interest will be paid half-yearly compounded quarterly

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.


Deposit will be auto-renewed for the same period for which it was opened

Availability of Loan/ Overdraft

Overdraft / Loan against deposit provided on demand upto 95 % of the outstanding balance in the account as on date of loan. Interest will be charged as per Bank’s extant guidelines from time to time



  • 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.

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