RD in Bank of Baroda

What are the terms & conditions for Recurring Deposits (RD) at Bank of Baroda ? Also tell about the benefits to customer from this deposit?

[Rajkumar Agarwal]

Recurring Deposits (RD) at Bank of Baroda helps customer to regulate savings and reap its benefits from time to time.

Benefits

Encouraging a saving habit.

Loan/Overdraft facility up to 95% of the deposit amount.

Terms & Conditions

Minimum amount required to open an account –
Rs. 50/- (rural and semi-urban)
Rs. 100/- (Urban and Metro).

Subsequent deposits in multiples of
Rs. 50/- (rural and semi-urban)
Rs. 100/- (Urban and Metro).

Deposit Tenure:
Minimum - 6 months.
Maximum - 120 months.

Documents required:
Passport size photograph
Proof of residence
An introduction as per Bank's norms

Interest Rates on Deposits:

Sir I want to know about the Recurring Deposits in Bank of Baroda so can you please give me the details

[Quick Sam]

Recurring Deposits is a basic saving plan, which helps you regulate your savings and reap its benefits from time to time. Also avail up to 95% of the deposit amount by way of loan/overdraft.

Benefits

Loan/Overdraft facility up to 95% of the deposit amount.

Regularises savings by encouraging a saving habit.


Provision for nomination.

Terms & Conditions

Minimum amount required to open an account - Rs. 50/- (rural and semi-urban) and Rs. 100/- (Urban and Metro).

Subsequent deposits in multiples of - Rs. 50/- (rural and semi-urban) and Rs. 100/- (Urban and Metro).

Deposit Time


Minimum - 6 months.

Maximum - 120 months.

Interest will be compounded quarterly and paid on maturity.(Click here for current interest rates).

On pre-matured withdrawal of your deposit amount, interest will be calculated at 1% below the rate applicable for the period of deposits.

Documents required:

Passport size photograph

Proof of residence

An introduction as per Bank's norms