This is a term deposit scheme offered by Bank of Baroda. Baroda Double Dhamaka Fixed Deposit, as the name implies, provides double reruns on your investments. A term/fixed deposit is a financial instrument by investing in which you can get assured returns on your investments. What you have to do is to invest for a particular period at a fixed rate of interest. The bank of Baroda Double Dhamaka Fixed Deposit scheme is open for general public and senior citizens.
The eligibility criteria for applying for Baroda Double Dhamaka Fixed Deposit include:
Listed below are the key features of Baroda Double Dhamaka Fixed Deposit:
|Account Type||Both Single and Joint.|
Minimum amount: Rs. 5,000
Maximum amount: Less than Rs. 1.00 crore.
|Rate of Interest|
Minimum : 7.50%
Maximum : 8.00%
Minimum: 8 Years, 9 months and 03 days for senior citizens.
Maximum: 9 Years 04 months and 00 days for general public.
TDS will be deducted on interest amount.
|Loan against Baroda Double Dhamaka Fixed Deposit Scheme||Available. It is permitted up to 95% of outstanding balance at interest rate 1.5%.|
|Nomination (if any)||Yes, nomination facility is available under this policy.|
The interest rates of Baroda Double Dhamaka Fixed Deposit Scheme vary based on the tenure of your deposit and age. Currently, the following interest rates are applicable on this scheme:
|Maturity range||Interest rate|
|For General Public:||7.50%|
|For Senior Citizens:||8.00%|
The above mentioned rates are applicable as on 1/12/2015. However, the above-mentioned fixed deposit interest rates are subject to change from time to time without giving you any prior notification by the bank.
The Bank of Baroda Double Dhamaka Fixed Deposits are available at all CBS branches.
The minimum deposit required for investing in a Bank of Baroda Double Dhamaka Fixed Deposit is Rs.5000.
Yes, the bank allows premature withdrawal.
Yes, TDS is applicable on the interest payment of Bank of Baroda Double Dhamaka Fixed Deposit.
Yes, you can. The Baroda Double Dhamaka Fixed Deposit accepts nomination.
Yes, you can take loans against your Baroda Double Dhamaka Fixed Deposit. You can get loan up to 95% of your total deposit.
Yes, a minor is also eligible for opening a Baroda Double Dhamaka Fixed Deposit.
Useful Information on BOB Fixed Deposit