Baroda Super Savings Account
The Baroda Super Savings Account is a product with an auto sweep facility to short-term deposits. The product has 2 components – a savings account component and a fixed deposit component.
This account is offered to individuals including minors, salaried people, businessmen, self-employed, professionals, and traders. A Baroda Super Savings account offers customers the dual benefits of liquidity through the savings bank and high returns through the linked fixed 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 will be calculated on daily balance and paid every month (subject to deduction of tax).
- Cheque and Cash deposit facility.
- Internet banking facility available.
- Deposits above and in multiples of NZ$1000 will automatically be swept from savings account to the linked fixed 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.
- Free Visa Classic debit card provided for NZ dollar accounts.
- Unlimited No. of remittance to any personal account of any bank in India per month .
Fees and Charges
- 150 free debit transactions every quarter and NZ$0.50 per transaction thereafter with free standing instructions.
- Quarterly account maintenance fee reduced to ZERO from quarter ending December 2010.
- Service charge of NZ$10 per month for not maintaining minimum balance.
|Subsequent Months||NZD 10 per month|
- No charges for closure of account
- Our fees and charges are subject to change from time to time. For all charges please see our service charges.