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Bank of Baroda Yatha Shakti Jama Yojana

Recurring deposits are a great way to save regularly and to build up a savings funds which might not have been possible otherwise. Bank of Baroda offers you an even better scheme which allows you to save flexibly every month. The Yatha Shakti Jama Yojana Scheme makes recurring deposits are more attractive scheme. Under this scheme, depositors must choose a core amount which is required to open the deposit. Subsequently, the core amount can be increased up to three times as and when the depositor has more to save.

Who can apply for a Yatha Shakti Jama Yojana RD?

The Yatha Shakti Jama Yojana RD scheme is open to all under the following guidelines:

  • An individual can open the account in his or her own name.
  • Individuals can open the account jointly.
  • If the individual is a minor who is at least 10 years old, the deposit can be opened on conditions specified by the bank.
  • Minors can also open this RD in their own name along with their parent or guardian.
  • This scheme is not available for NRE deposit holders.

How does the scheme work?

  • To open the deposit, you need an initial amount of at least Rs. 100.
  • You can choose your initial amount in multiples of Rs. 100 up to a maximum of Rs. 10,000.
  • The tenures for this deposit range from 10 months to 120 months. Terms can be chosen in chunks of 3 years such as 12 months, 15 months, 18 months, 21 months and so on.
  • After you have opened the deposit, every month, you can either deposit your core amount or you can choose to deposit up to 3 times your core amount. This is subject to a maximum of Rs. 10,000 per month.
  • For example, if you have chosen to start the deposit with Rs. 1,500, you can choose to deposit upto Rs. 4,500 on any subsequent month. But Rs. 1,500 should be contributed every month.

What are the benefits?

There are multiple benefits under this scheme. Apart from having flexibility with your monthly instalments, some of the benefits have been listed below.


The main benefit is the interest rate which is credited to year bi-annually, once in September and once in March.

Additional interest rate is offered over and above the regular rate for the following applicants:

  • Senior Citizens are eligible to receive 0.50% additional interest on deposits below Rs. 1 crore.
  • Staff and Ex-staff members are eligible to receive additional interest.
  • Ex-staff members who are also senior citizens will receive both bonus interest rates.


Bank of Baroda offers nomination facilities so that your nominee or loved one will receive the deposit amount in case of your unfortunate demise.

Premature Closure

You are allowed to close the deposit before the maturity date.

Loan and Overdraft

You can avail of a loan or overdraft facility against this deposit. Bank of Baroda will loan you up to 95% of the outstanding balance in your RD account. Your interest rate will be 1% above the interest rate given on FDs.

Delayed Payments

Bank of Baroda does not levy penalties for late payments.

Points to Note about the Yatha Shakti Jama Yojana RD Scheme

  • The instalments must be paid monthly.
  • Select your core amount wisely keeping in mind that you can step up your deposit only up to three times that of your core amount.
  • The maximum monthly contribution cannot exceed Rs. 10,000.
  • Interest will be paid to you twice a year.
  • The deposit will mature one month after you make your last installment or on the deposit due date, whichever is later.
  • This deposit is liable for TDS on the interest payments as per the extant guidelines.
  • All other conditions applicable to the regular Bank of Baroda RD scheme will apply here as well.

Read More Article on Recurring Deposit

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Customer Reviews

Page 1 of 1
  • Bank of Baroda
    "Good investment for future"
    0.5 5.0/5 "Blown Away!"
    Percentage of interest in Bank of Baroda around 7% for one year, generally I deposit the amount around Rs.4000, I opened for one year. They have good online options, I can track the RD details. They take some charge for the premature of recurring deposit.
    Was this review helpful? 6
    , jaipur
    Reviewed on Dec 20, 2018
  • Bank of Baroda
    Bank of Baroda
    "Good Bank"
    0.5 5.0/5 "Blown Away!"
    I had Recurring Deposit account with Bank of Baroda. RD period was one year and every month I used to pay 2500 rupees. The interest rate was around 6% which is the same like other banks I believe. At the end of the year, they were able to release the amount on time.
    Was this review helpful? 11
    , hyderabad
    Reviewed on May 09, 2017
  • Bank of Baroda
    "Nice Bank"
    0.5 5.0/5 "Blown Away!"
    Recently I invested in Recurring Deposit account with Bank of Baroda. The monthly payment was around 1000 rupees, therefore they did not deduct anything from my salary account. The tenure period is for five years. After five years, they would return my money 86000 rupees. Interest rate provided by them is very much nominal.
    Was this review helpful? 16
    , bangalore
    Reviewed on May 09, 2017
  • Bank of Baroda
    "Easy EMI for Start saving for future"
    0.5 5.0/5 "Blown Away!"
    It is easy process to open RD through Netbaking in Bank of Baroda. I used to make the through auto debit in monthly bases with good interest rates. I could pay minimum of 500 to 1 Lakhs according to my convenient. Service and response was really good and supportive.
    Was this review helpful? 10
    , jaipur
    Reviewed on Nov 14, 2016
  • Bank of Baroda
    0.5 4.0/5 "Great!"
    Two months ago I used the Bank of Baroda to open recurring deposit for the amount of seven thousand and another is for 500. Interest rate is very less as that is 7.5%. It is online recurring deposit so every time I am paying payment through ecs. Date of payment is 5th.
    Was this review helpful? 11
    , kolkata
    Reviewed on Dec 11, 2015
  • Bank of Baroda
    "Double on Double "
    0.5 5.0/5 "Blown Away!"
    We had an good scheme for the recurring deposit account. YSJY scheme is an government plan which starts from 1000 rupees where I can deposit some amount to them and at the end i will be getting some good benefits. This was there with BANK OF BARODA only where other banks is not having it. Financially I am getting good benefits from this account.
    Was this review helpful? 12
    , chennai
    Reviewed on Nov 27, 2015
  • Bank of Baroda
    0.5 4.0/5 "Great!"
    I had the recurring the deposit with the Bank of Baroda. The rate of interest is around 9% for an year of time. Services are good with them. Customer service and the service are quiet good with them. Its easy to track my recurring deposit account through their online portal.
    Was this review helpful? 7
    , bhubaneshwar
    Reviewed on Sep 21, 2015
  • Bank of Baroda
    "Excellent !!!!!"
    0.5 4.0/5 "Great!"
    From bank of Baroda I have taken a Recurring deposit plan in which the interest rate offered is 8% for the minimum lock in period 1 year. In case we break the lock in period so the interest rate will be reduced. No activation or any processing fee is not covered.
    Was this review helpful? 10
    , nagpur
    Reviewed on Sep 16, 2015
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