This article offers a brief summary of the key aspects of the Bank Of Baroda’s Senior Citizen Savings schemes. Since these details are subject to frequent updates, please refer to the bank’s official website for the most current information on features and interest rates.
Bank Of Baroda – Senior Citizen Savings Scheme Features:
- This scheme is for individuals aged 60 and above.
- They can earn 8.2% interest on their deposits, paid quarterly and fully taxable.
- Open the account with a minimum deposit of Rs. 1,000 or any multiple of Rs. 1,000 up to Rs. 30,00,000.
- The deposit lasts 5 years, extendable by an additional 3 years.
- Withdrawals and account closure are allowed with certain conditions.
- Nominees can be appointed, and after the initial 5-year term, the account can be extended for one more 3-year period.
How to invest?
Click here to invest in the Bank Of Baroda’s Senior Citizen Savings schemes.
Note: The information presented here is sourced from publicly available data. We cannot be held responsible for any inaccuracies in the details. For the most current and accurate information, please visit the official website of the respective bank/institution.