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    BOB Suvidha Fixed Deposit Scheme

    This is a fixed deposit scheme with competitive interest rates that offers you easy liquidity. The scheme is ideal for both long term and short term investment objectives. The plan offers a high degree of flexibility allowing you to choose the terms that best fit your needs. The withdrawal limit is flexible, and along with the preferential interest rates this plan is designed to give you financial security.

    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. The application form for the same can be downloaded online or availed from a branch of the bank and duly filled and submitted. In addition, applicants have to provide a passport size photograph along with a copy of the proof of residence. An introduction is also required as per the bank’s norms.

    Features of BOB Suvidha fixed deposit scheme

    Account Type Single/Joint
    Amount

    Min – Rs.5,000 (counted as 5 units of Rs.1,000 each). Subsequent deposits in multiples of Rs.1,000.

    Max – N/A. Deposits above Rs.10 crore have to be requested individually

    Rate of Interest

    Min – 6.75%

    Max – 6.75%

    Period/Tenure

    Min – 12 months

    Max – 60 months

    TDS TDS applicable as per regulations from the Income Tax department.
    Loan against ICICI Money Multiplier Plan Loans available up to 95% of the value of the deposit
    Nomination Nomination facility available
    Auto Renewal Yes, unless otherwise mentioned

    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.

    Tenure Deposits below Rs.1 crore Rs.1 crore to Rs.10 crores Rs.10 crores to Rs.50 crores Above Rs.50 crores
    1 year 7.75% 6.75% 6.75% 6.75%
    Above 1 year and up to 3 years 7.75% 6.75% 6.75%
    Above 3 years and up to 5 years 7.75% 6.75% 6.75%

    *Above mentioned rates are linked to the bank’s base rate and are subject to change as per the bank’s discretion. Rates are as of December 2015.

    Apart from these rates, 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.

    BOB Suvidha fixed deposit scheme FAQs

  • 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.

    Useful Information on BOB Fixed Deposit

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