Baroda Monthly Deposits
Baroda Monthly Deposits enable customers to earn monthly interest on their fixed deposits.
- Minimum deposit required is NZ $1000. However, there is no maximum ceiling for Baroda Monthly.
- Customers may fix their deposits from 1 to 5 years.
- Rate of interest depends on the amount of the deposit and the maturity period.
- Interest will be paid every month after the date of the initial deposit and will be credited to the customer’s respective operative account. Tax, if applicable, will be deducted as per tax norms. Since Interest is compounded quarterly on term deposits and paid on monthly basis, the yield in the account may be lesser than the applied rate of interest.
- Overdrafts or loans secured against the deposit are offered on demand for up to 90% of deposit amount.
- Payment of the deposit prior to the maturity date is permitted, with the Bank’s consent. However, in such cases a lesser rate of interest will be paid (see Fees and Charges below).
- Automatic renewal of the deposit.
- Facility to view account balance & transactions over Internet.
Fees and Charges
- Where the deposit is paid to the customer prior to the maturity date, interest will be paid at 1% per annum below the applicable rate for the actual period the deposit was kept with the Bank.
- Our fees and charges are subject to change from time to time. For all charges please see our service charges.