The returns generated are high compared to regular savings or a fixed deposit account. Present Rate of Interest Offered by Bank of Baroda As of September 13th, 2020, the rate of interest for Senior Citizen Savings Scheme is 7.4% for the second quarter (July to September 2020) of the financial year 2020-2021. Discount of 0.25% on rate of interest on Two Wheeler Loan Discount on processing charges for Auto, Mortgage and Personal Loans Baroda Platinum Saving Bank Account.
Depends on interest rate charged on term deposit: Baroda Loan / 0D against Bank's own deposit to third party up to $5000.00: 3.75% over term deposit (variable) Depends on interest rate charged on term deposit: Baroda Loan / 0D against Bank's own deposit to third party above $5000.00 and all loans/0D for business purposes. For Baroda Advantage Fixed Deposit (domestic) Accounts (Non Callable)(Deposit amount: Rs. And above) Non-Callable Bulk deposits of Rs.2.00 crore and above will also have additional interest upto 10 bps over the applicable rate of interest for Normal Bulk Deposits (callable) as per the maturity period of deposits as decided by The Treasury Department, BCC. You can earn an interest in the range of 3.5-6% on your savings accounts, depending on the amount and the bank.Kotak Mahindra Bank has lowered rate of interest on savings account deposits of up to.
Where your money is fully safe, earns interest and is convenient to withdraw.
CRITERIA FOR OPENING A SAVINGS BANK ACCOUNT
- National Identity Card (NIC) for a Mauritian Citizen
- Passport (for a foreigner residing in Mauritius ) along with work permit/ resident permit
- Proof of Residential Address
- Original of recent Utility Bills /Local Authority tax bill etc.
BENEFITS
- Easy to operate.
- Provides liquidity to meet with all types of payment obligations and gateway for other banking services.
- Tool to cultivate Banking habits in your kith and kin.
- Free issuance of ATM/Debit cards, accepted worldwide.
- Direct debit facilities to meet various bill payments.
TERMS AND CONDITIONS
- No minimum and maximum period.
INTEREST PAYMENT TO INDIVIDUAL CUSTOMERS ONLY
- 0.50% per annum W E F 05.05.2020 payable on 1st June and 1st December
- Balance of Rs 5000.00 and above would only be eligible for payment of interest
Interest Rates on Savings Bank Deposit :
| Term Deposit Interest Rates | ||||||
| Tenor | Existing Rate w.e.f. 2O.O4.2O20 | REVISED Rate w.e.f 08.06.2020 | ||||
| For below Rs. 15 lakh | For Rs.15 Lakh to below 100 Lakh | For Rs. 1 Cr. And above | For below Rs.15 lakhs | For Rs.l5 Lakh to below 100 Lakh | For Rs. 1 Cr. and above | |
| 7 to 45 days | 4.00% | 4.00% | 4.00% | 3.00% | 3.00% | 3.00% |
| 46 to 90 days | 4.75% | 4.75% | 4.75% | 4.00% | 4.00% | 4.00% |
| 91 to 269 days | 5.50% | 5.50% | 5.50% | 4.50% | 4.50% | 4.50% |
| 270 days to less than 1 year | 5.50% | 5.50% | 5.50% | 4.50% | 4.50% | 4.50% |
| 1 Year | 6.00% | 6.00% | 6.00% | 5.30% | 5.30% | 5.30% |
| Above 1 year to less than 2 yrs | 6.00% | 6.00% | 5.50% | 5.30% | 5.30% | 5.30% |
| 2 yrs to up to 3 yrs | 6.00% | 6.00% | 5.50% | 5.30% | 5.30% | 5.30% |
| Above 3 yr to less than 5 yrs | 6.00% | 6.00% | 5.50% | 5.30% | 5.30% | 5.30% |
| 5 yrs to upto 10 yrs | 6.00% | 6.00% | 5.50% | 5.30% | 5.30% | 5.30% |
| Aditional Interest | ||||||
| Senior Citizens (For all Tenure) | 0.60% | 0.60% | NIL | 0.60% | 0.60% | NIL |
| Staf (For all Tenure) | 1.00% | 1.00% | NIL | 1.00% | 1.00% | NIL |
| Senior Citizens Staf (For all Tenure) | 1.60% | 1.60% | NIL | 1.60% | 1.60% | NIL |
| Premature Penality | ||||||
| For All | 1.00% | For All | 1.00% | |||
| No additional interest for senior citizen, staffetc. is applicable on deposits in the category for more than Rs.l Cr. | ||||||
Bank Of Baroda Online Account
| (Interest Rate On Saving Bank Deposits) | ||
| Existing Rate w.e.f. 01.04.2020 | Reversed Rate w.e.f. 08.06.2020 | |
| Amount Up to Rs.35 lakh3.50% | For All Amounts | |
| Amount Up to Rs.35 lakh and above 4.00% | 3.25% | |