Baroda Term Deposit Scheme For High Networth Individual

Term deposit means an interest-bearing deposit received by the bank for a fixed period.
Providing higher rate of interest with longer periods of deposit, with quarterly compounding & reinvestment of interest.

Benefits
Features
Terms and Conditions

Particulars	Key Features
Eligibility	NRIs/PIOs/OCIs are eligible to open and maintain these accounts singly or jointly. Joint account with Resident close relative may allow with the payment conditions of “Former or Survivor”
Currency	USD / EUR / GBP or Any other Freely Convertible currency acceptable to IBU.
Minimum Deposit Amount	USD 1.000 Mn or Equivalent in Other Currency (Per customer)
Maximum Amount of Deposit	No upper Limit.
Period of Deposit	Minimum – 12 months Maximum – 60 months
Repatriation	Repatriation of funds permitted freely in any Convertible Currency
Rate of Interest	Please “Click Here”
Nomination facility	Available
TAX Deduction at Source	No TDS on Interest Amount
Availability of Loan/ Overdraft	Loan and overdraft limits are granted against lien of deposit receipts.
Negotiable	Not negotiable nor transferable
Auto Renewal of Term Deposits	In absence of any instructions from the depositor to the contrary, the deposit shall be automatically renewed for 1 year period.
Premature Withdrawal	· For any premature withdrawal before completion of one year from date of deposit /Auto renewal date, no interest will be payable. · In case of any part closure or premature withdrawal, IBU shall pay the customer the rate of interest at the card rate prevailing on the date of deposit or the prevailing card rate, whichever is lower on the partially withdrawn amount. The interest shall be paid upto the period the deposit was placed with IBU on the amount partially withdrawn. The remaining portion of deposit with IBU shall continue to attract the original rate which was provided at the time of opening of deposit. · In case of complete pre-closer of deposit, IBU may charge premature penalty @ 0.25% p.a. on prevalent time deposit rate for corresponding period, whichever is lower.

Advance against Deposits: Loan and overdraft limits are granted against lien of deposit receipts.
Interest certificate available at request of customer
Mode of Payment: Maturity proceeds are credited to the SB/ CA account of the customer.
Telecommunication Mandate Facility available.