Baroda Super Savings Account
Baroda Super Savings Account is a product with an auto sweep facility to short-term deposits.
This account is offered to individuals including minors, salaried people, businessmen, self-employed, professionals, and traders. The product has 2 components – a savings account component and a short-term deposit component. Baroda Super Savings account offers customers the dual benefit of liquidity through the savings bank and higher returns through the linked short-term deposit component.
- Super Savings Accounts can be opened in NZ dollars only.
- Minimum balance required of NZ$1000.
- Account can be opened with zero balance. Minimum balance to be maintained from subsequent month.
- Interest at 2%p.a on saving account component will be calculated on daily balance and paid every month (subject to deduction of tax).
- Deposits above and in multiples of NZ$1000 will automatically be swept from savings account to the linked short-term deposit account for a period of 181 days, earning higher returns.
- If and when the customer needs funds more than his savings account balance, a reverse sweep order will immediately be auto-triggered to meet the customers liquidity needs.
- To benefit customers with maximum returns, a LIFO (Last In, First Out) system is followed in the reverse-sweep where the most recent deposits are returned to the savings account while older deposits remain in the fixed deposit account to maximize interest.
- Unlimited number of remittance without any fees to any personal account of any bank in India.
- Internet banking and Mobile App available
Fees and Charges
- Our fees and charges are subject to change from time to time. For all charges please see our service charges.