Initiative- Bank of Baroda

Terms & Conditions

  • Rate of Interest mentioned on the advice is in percentage per annum (% p.a.). Please check the latest Rate of Interest of Term Deposits at Deposit Rates & Service Charges | Bank of Baroda.
  • Rate of Interest on Monthly Interest deposits is paid at discounted rates. For detailed methodology of calculation of payment of Interest on Term Deposits, please visit Interest payment tab at URL Deposit Rates & Service Charges | Bank of Baroda.
  • Please inform us of any change in your Resident / Non-Resident status as and when such changes take place. The status declaration on the Account opening form shall remain in force until such time as a change is advised to us.
  • Additional rate for Senior Citizen (60 Years & Above) & Super Senior Citizen (80 years & Above) (as decided by the Bank from time to time) is applicable based on the 1st named Account holder only and applicable for KYC Compliant Resident Customers only and on the basis of Date of Birth available in Bank's CBS system.
  • TDS is applicable on the Term Deposits as per Income Tax guidelines. For exemption from TDS, a fresh 15G / 15H (Resident Senior Citizens only) / 15AA (if applicable) has to be submitted by Resident individuals for each Financial Year, prior to crossing the threshold limit, failing which TDS will be deducted.
  • The maturity date is recorded on the certificate to enable the depositors to receive the maturity on the due date. The Bank is not bound to give further intimation of the due date.
  • Term Deposit will be disposed of according to the maturity instructions given at the time of opening of the deposit. These instructions will continue to be executed till termination by the deposit account holder(s).

  • Premature Withdrawal Clause for (Callable Deposits)

    1. Deposit less than Rs. 1.00 Crore will attract 1% penalty from card rate as on the date of deposit, for the period for which deposit has remained with Bank or the contracted rate whichever is lower.
    2. 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 whichever is lower.
    3. No Interest is payable for NRE Term Deposits and FCNR (B) Term Deposits closed before completion of minimum term of -1- Year as per RBI Guidelines.
    4. For more details of the same, please check our detailed Deposits Policy guidelines available at Policy Documents - Your Guide to Customer-Centric Banking | Bank of Baroda.
    5. For verifying the Reserve Bank of India (Commercial Banks – Interest Rate on Deposits) Directions, 2025, please visit Master Directions - Reserve Bank of India.
  • Please note that above Terms & Conditions are subject to change from time to time. For latest Terms & Conditions of Term Deposits, please contact your Branch or call Toll Free Number 1800 5700.

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