Fixed Deposit

BOB DEPOSITS – GREAT RATES, CONVENIENT AND FLEXIBLE

• Bank of Baroda offers several fixed deposit schemes to choose from, depending on your chosen preferred term period (short-term or long-term). This range of choices makes fixed deposits a convenient option for a range of investors, from salaried employees to self-employed professionals to senior citizens.

• As low-risk instruments, fixed deposit investments offer both, security and competitive interest rates on your principal amount.

• For Present rate offered, please visit our Interest rate page.

AVAILABLE SERVICES FOR TERM DEPOSIT ACCOUNT HOLDER

• Loan upto 90% of the Deposit amount
• Locker Facility
• Free Internet Banking
• Free SMS alert before maturity date

ELIGIBILITY

• All Individuals and Non-individuals

AMOUNT OF DEPOSIT

• Minimum
  • SCR 5000.00 and in multiples of SCR 100/-
• Maximum
  • No upper limit

TENURE OF DEPOSIT

• Minimum : 1 Month

• Maximum : 120 Months

RATE OF INTEREST

• As per the maturity period of the deposit

PAYMENT OF INTEREST

• Interest will be paid half-yearly.

PREMATURE CLOSURE

• No Interest is paid if the deposit is withdrawn before the maturity date.

AVAILABILITY OF LOAN/ OVERDRAFT

• Overdraft / Loan against deposit provided on demand upto 90 % 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

OTHERS

• Accepted as security by Government departments.
• Accepted as margin for non-fund based activities.
• Withholding Tax: Withholding Tax will be deducted as per Seychelles Revenue Commission guidelines.

• 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 . 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 for all fresh deposit.
• Mode of Payment: Maturity proceeds are credited Saving/ Current account of the customer. In cases where there are no operative accounts of the customer, maturity proceeds can be given in cash below SCR 20,000 above which DD/ Banker’s Cheque will be issued.

BULK DEPOSITS (MORE THAN SCR 1 MILLION)

• 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 SCR 5 Million.
• Rate of interest for Bulk deposits is different from retail time deposits.For interest rate on bulk deposit, please contact the branch.
• 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, no interest will be paid on such prematurely withdrawn deposits.