BOB Suvidha Fixed Deposit Scheme
This is a fixed deposit scheme with competitive interest rates that offers easy liquidity. The scheme is ideal for both long-term and short-term investment objectives. The withdrawal limit is flexible, and along with the preferential interest rates this plan is designed to give you financial security.
Features of BOB Suvidha fixed deposit scheme
Account Type | Single/Joint |
Amount | Min - Rs.5,000 Max- No upper limit |
Rate of Interest | 6.75% p.a. for general public For senior citizens, additional 0.50% per annum |
Period/Tenure | Min - 12 months Max - 60 months |
TDS | TDS applicable as per regulations from the Income Tax department. |
Nomination | Nomination facility available |
Eligibility criteria for BOB Suvidha fixed deposit scheme
- The scheme can be opted by individuals who are residents of India.
- This account may be opened either singly or jointly.
- An adult can also open the account on behalf of a minor.
BOB Suvidha fixed deposit scheme interest rates
- The interest rates* in this scheme will be calculated on a quarterly compounding basis and credited to the account every 6 months or half yearly.
- The interest rates will be as per the maturity period of the deposit.
- The interest will be paid half-yearly compounded quarterly.
- Senior citizens will receive interest at an additional 0.50% above the rates for non-senior citizen depositors. The minimum amount of deposit for senior citizens to avail additional rate is Rs.10,000.
FAQs on BOB Suvidha fixed deposit scheme
- What are the criteria for premature withdrawal?
There is no penalty on premature withdrawal for amounts up to Rs.5 lakhs, which has been deposited with the bank for a minimum tenure of 12 months. All other premature withdrawals will attract a penal interest rate of 1% below the applicable rate as mentioned in terms of the deposit.
- What is the flexibility in making withdrawals?
A part of the overall deposit may be withdrawn as per the terms of premature withdrawal, with you still earning interest at the stipulated rates.
- How are the interest calculations made?
Interests are calculated on a quarterly basis and credited to your account on a half-yearly basis.
- Which forms do I need to fill to apply for BOB Suvidha fixed deposit scheme?
For individuals, form 401 has to be submitted while non-individual applicants need to submit form 401A.
- What are the available modes of payment of deposits?
You can pay deposits multiple means.
- Credit of your account with the bank.
- Credit of your account in other banks through NEFT or RTGS.
- DD or bankers cheque.
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