Bank of Baroda Recurring Deposit Form
This is an application form for the Recurring Deposit account opening form issued by the Bank of Baroda and this form can be downloaded from the bank’s official website i.e. https://www.bankofbaroda.in/, or it can be directly downloaded from the link given below.
Bank of Baroda Recurring Deposit Form Benefits
- Open a recurring deposit account with Bank of Baroda and create a habit of saving regularly. The monthly installments on RD accounts especially, encourage new investors to set aside money throughout the year.
The key benefit of recurring deposit accounts is that you receive better returns on your investment compared to other financial instruments. This is because recurring deposit schemes have higher rates of interest as compared to savings accounts. - You can choose from a variety of recurring deposit accounts to suit your financial outlook and investment goals, since we offer recurring deposit schemes with varying principal amounts, monthly installments, and time periods. The tenure on our RD accounts can range from 6 months to 120 months. There is no upper limit on the amount of money you can invest in recurring deposit schemes.
- Additionally, Bank of Baroda offers a loan and overdraft facility up to 95% of the recurring deposit amount, which can help you in times of urgent financial need.
Bank of Baroda Recurring Deposit Form Features
- All individuals are eligible to open recurring deposit accounts at the Bank of Baroda. The minimum monthly deposit on RD accounts is Rs.50 and multiples of Rs.50 in rural and semi-urban branches. In urban and metro branches, Rs.100 and multiples of Rs.100 are the lower limits on recurring deposit accounts. There is no upper limit on the monthly deposits in RD accounts.
- The tenure or time period of recurring deposit accounts ranges from 6 months to 120 months, which is determined at the time of opening the RD account. However, you can opt for premature withdrawal on your recurring deposit account, in case you need funds urgently. Closing your recurring deposit early may be subject to a penalty.
- We offer attractive interest rates on recurring deposits, which are determined on the basis of the maturity period or tenure of the deposit. The interest on recurring deposit accounts is compounded quarterly and paid on maturity of the RD.
- The nomination facility is available on recurring deposit accounts at the Bank of Baroda.
Maturity proceeds are credited to SB/ CA account of the customer. In cases where there are no operative accounts of the customer, maturity proceeds can be given in cash below Rs.20,000 above which DD/ Pay Order will be issued. Minor Accounts can be opened for individuals above 10 years subject to a maximum cap of Rs.1,00,000/-
Download the Bank of Baroda Recurring Deposit Form in PDF format using the link given below or an alternative link for more details.
