Monthly Income Plan Bank Of Baroda

Will you please give me some information about the Monthly Income Plan of the Bank Of Baroda? Who can apply for this Bank Of Baroda Monthly Income Plan, give me the complete details regarding to this? What it provides tell me about it?

Hii Guys , I want know information about Bank Of Baroda Monthly Income Plan , so for it will you plz give me Details for same ?

[Quick Sam]

friend On your demand Here I would like to tell you information about Monthly Income Plan of Bank Of Baroda , Have a Look :


Interest earned on your deposit becomes another source of income.


Benefits :

This plan does not demand any extra formalities, as concerns overdrafts and withdrawals, hence enabling you to withdraw as much as 95% of the deposit amount.

Provides you the comfort of liquidity along with a security of your money being in safe hands.

An additional 0.50% interest for senior citizens (applicable only for deposits of Rs. 10000/- and above).

Provision for nomination.



Terms & Conditions :

Deposit account can be opened with minimum amount of Rs. 1,000/- and subsequent deposits in multiples of Rs.100/-.

Deposit Tenure:

Minimum - 12 months.
Maximum - 120 months.

Interest will be paid on monthly basis at discounted rate.

No penalty for premature payment will be levied in case of premature payment of deposits up to Rs. 5 Lakhs provided it remained with the Bank for a minimum period of 12 months.

Interest payments are subject to TDS (Tax Deducted at Source).

Documents required:

Passport size photograph

Proof of residence

An Introduction as per bank's norms


Interest Rates on Deposits :

General Public: 9 Years 04 months and 00 days (112 months and 00 days)
7.50%

Senior Citizens: 8 Years, 9 months and 03 days (105 months and 03 days)
8.00%

Interest Rate on Term Deposits & NRO Deposits :


7 days to 14 days
4.50%

15 days to 45 days
4.50%

46 days to 90 days
6.50%

91 days to 180 days
6.75%

181 days to 270 days
7.30%

271 days & above and less than 1 year
7.50%

1 year and above upto 2 Years
7.75%

Above 2 Years and upto 3 Years
7.75%

1111 Days (Baroda Maha Utsav Deposit Scheme)
7.75%

Above 3 Years and upto 5 Years
7.75%

Above 5 Years and upto 8 Years
7.50%

Above 8 Years and upto 10 Years
7.50%