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Baroda UP Gramin Bank

Baroda UP Gramin Bank Fixed Deposit Scheme

Baroda UP Gramin Bank: For your information, let us tell you that customers have to deposit a lump sum amount in bank FD only once. After that customer cannot deposit any additional amount in that account. The option to invest in FD is given to customers through banks. Customers can earn more interest by investing in Fixed Deposits. Baroda Gramin Bank Fixed Deposit

What is the benefit of Baroda UP Gramin Bank Fixed Deposit?

Baroda Uttar Pradesh Gramin deposits ( Baroda UP Gramin Bank Fixed Deposit higher than the savings bank account customers) account interest (Interest) is achieved. That is to say, the customers of the savings bank account get a lower rate of interest while the customers of the fixed deposit account get a higher rate of interest. Even if the customer comes under senior citizens, the customer will get more interest.

Things to keep in mind about investing in fixed deposits

Before investing in a fixed deposit, you have to compare the interest rate of all other banks side by side so that you can get a high-interest rate on a good fixed deposit. If you need money urgently then you can avail of the facility of a Loan against a Fixed Deposit or Overdraft. You must also make a nomination in your Fixed Deposit. To avoid TDS, customers can submit by filling out Form 15G or Form 15H. Senior citizens should lose their fixed deposit account in such banks where they give extra interest ranging from 0.25% to 0.75%. You can give information regarding what you need to do on maturity while applying for Fixed Deposit offline or online. If you do not give any information in this regard, then the FD will be automatically renewed on maturity.

Baroda UP Gramin Bank FD Interest Calculator

FD Interest Calculator is a financial tool that allows online calculation of the maturity rate of FDs on interest paid by banks on fixed deposits. The maturity amount of the fixed deposit is decided on the basis of the fixed deposit, interest rate, period of deposit, compound interest, etc.

Baroda UP Gramin Bank FD Interest Rates

maturity timeInterest Rate (Annual)
30 (in days)3.00 %
453.00 %
604.50%
904.50%
1204.50%
6 months)4.50%
94.25%
125.30%
2 (years)5.30%
35.30%
45.30%
55.30%
105.30%

Senior Citizen Fixed Deposits

Fixed deposits for senior citizens have some features that differentiate them from fixed deposits for the general public, such as:

  • The depositor should be 60 years and above at the time of opening the fixed deposit account
  • Depending on the bank, interest rates are higher by 0.25% to 0.50%
  • The tenure is between 7 days and 10 days
  • Loan against FD can be availed
  • Penalties for premature withdrawal are the same as for the general public

Eligibility Criteria for FD investment

The following entities are eligible to open an FD account in India:

  • Indian resident
  • NRI
  • Minors
  • Senior citizens
  • Companies
  • Partnership firms
  • Individuals or joint investors
  • Societies or clubs
  • Sole proprietorship

Documents Required for opening an FD account

The documents required for opening an FD account are as given below:

  • Proof of identity: Voter ID, PAN card, Aadhaar card, driving license, photo ration card, senior citizen ID card, etc.
  • Proof of address: Utility bills, bank statement with cheque, Post-office issued identification card or certificate, etc.

How to open a Fixed Deposit

You can open an FD in two ways: online and offline.

Online: To open an FD account online, it would be easiest to do so with the bank where you already have an account. All you have to do is use the net banking facility, fill up the online form for opening an FD, and submit it. In such cases, KYC will not be required as your bank will already have the details. You can transfer the funds through your account using the internet banking facility.

Offline: Visit the nearest branch of your bank and fill up the application form for opening an FD account. Submit it to the concerned official with the required documents. Deposit the required amount and you will receive the FD receipt.

FAQs

Investing in fixed deposits is one of the safest investment options. The interest offered on FDs by Baroda UP Gramin Bank or other banks makes it a good option.

A fixed deposit account can be opened for a minimum period of 7 days.