Bank of Baroda has launched the Bob Golden Goal deposit scheme. Under this FD scheme, Bank of Baroda is offering FD interest rates up to 7.40%. In this article, we will have a look at the benefits of this scheme.
Interest rate on Callable Deposits (555 Days)
| Category | Interest Rate |
|---|---|
| General / NRO / NRE | 6.75% p.a. |
| Resident Senior Citizen | 7.25% p.a. (6.75% + 0.50%) |
| Resident Super Senior Citizen | 7.35% p.a. (6.75% + 0.60%) |
Interest rate on Non-Callable Deposits (555 Days)
| Category | Interest Rate |
|---|---|
| General / NRO / NRE | 6.80% p.a. (6.75% + 0.05%) |
| Resident Senior Citizen | 7.30% p.a. (6.75% + 0.50% + 0.05%) |
| Resident Super Senior Citizen | 7.40% p.a. (6.75% + 0.60% + 0.05%) |
A callable FD allows the depositor to withdraw the money before the maturity date. A non-callable FD does not allow premature withdrawal before maturity.
Important Points:
Premature withdrawal of Deposits (at the Discretion of Bank):
- No penalty for premature payment will be levied in case of premature payment of deposits up to Rs 5 lacs provided it remained with the bank for a minimum period of 12 months.
- For Deposits not remained with the Bank for 12 months or having Deposits Amount above Rs. 5.00 Lakh but less than Rs. 1.00 Crores, Interest will 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.
- Premature closure of Deposits of Rs. 1.00 Crore and above is allowed only with 31 days prior notice, and Penalty @1.5% on applicable rate of interest for the period for which the deposit has remained with the bank or the contracted rate of deposit whichever is lower.
- NRE term deposits should be opened for a minimum term of one year.
- No interest is payable on NRE term deposits pre-closed before one year from the date of opening of the said deposit.
Advance against “bob golden goal” Deposits
Advance against Callable Deposits: This facility is not available to a minor account in single name and HUF. If the interest is not deposited for more than 2 quarters, term deposit will be apportioned immediately.
Advance against (Except Non-Callable Deposits): Loan / Overdraft / Advance facility is not available against the security of Non-Callable Deposits as per Bank’s guidelines.
How to open Bob Golden Goal deposit Account?
You can easily open the FD under this scheme by visiting your nearest branch. Just visit the branch, submit the application form and get FD with high interest rate. Alternatively, you can use the mobile application of Bank of Baroda to open FD digitally.
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