Bank of Baroda Yatha Shakti Account Form
This is an application form for Yatha Shakti Jama Yojana form issued by the Bank of Baroda and this form can be downloaded from the Bank’s official website i.e. www.bankofbaroda.in, or it can be directly downloaded from the link given below.
Bank of Baroda Yatha Shakti Account Form Eligibility
- An individual in his/her own name.
- More than one individual in joint name.
- Minor of age 10 and above on terms laid down by the bank. Accounts can also be opened in the name of minors with their father/mother, as guardians as per Bank’s extant guidelines.
- Clubs, associations, Educational Institutions, Partnerships, and joint-stock companies, provided they are registered and the bank is satisfied that the account is opened for genuine savings purposes.
- The product is not available for NRE deposits.
Yatha Shakti Jama Yoajan Interest Rate and Charges
- Interest will be paid and credited half-yearly (Sept & March).
- Senior Citizen shall get the benefit of additional interest as per guidelines effective from time to time (As applicable on Recurring Deposit account).
- Staff members (including ex-staff) shall get the benefit of additional interest as per guidelines effective from time to time (As applicable on Recurring Deposit account). Retired Staff Members who are Senior Citizen shall get both benefits of Staff rate and Senior Citizen interest rate benefit.
Amount of Deposit
- Minimum:- The minimum amount of core installment required to open an account is Rs.100/- thereafter in multiple of Rs.100/- above core installment. (flexibility of changes in installment amount)
- Maximum:- The monthly deposit amount can be increased only up to 3 times of the core installment subject to a maximum of Rs.10,000/- per month
- Tenure of Deposit:- Minimum: 12 Months
- Maximum: 120 Months
- Premature Closure:-Interest should be paid after deducting a penalty of 1% from such applicable rate or the contracted rate whichever is lower in the cases which are subject to charging penalty
- Availability of Loan/ Overdraft:- Loan/overdraft facility is permitted up to 95% of the outstanding balance at an interest rate as per Bank’s guidelines issued from time to time.
- Maturity of Deposit:- One month after payment of last installment OR Due date, whichever is later
- Penalty on delayed Payment of Installments:-No Penalty
Rate of Interest to Senior Citizen: An Additional interest @ 0.50 % is payable for deposits below Rs.1 crore only
Payment of Installments: The installment for any calendar month must be paid on or before the last working day of that month. In case of delay in payment of any installment, the penalty shall be charged which is at present, `.1.00 + GST for every `.100/- p.m., a fraction of a number being treated as a full month for the purpose of calculating such penalty.
Installments paid during the course of the calendar month in which it is due shall be deemed as payment made in time.
Download the Bank of Baroda Yatha Shakti Account Form in PDF format using the link given below or an alternative link for more details.