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Baroda Advantage Fixed Deposits NRO-Non Callable

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  • Features
  • Most Important Terms and Conditions (MITC)

Baroda Advantage Fixed Deposits NRO-Non Callable : Features

  • Depositor gets differential rate of interest over regular fixed deposit rate.
  • Deposit Amount: Minimum ₹ 1.0001 Crore (Rupees One Crore and One Thousand) further Multiple of ₹ 1000
  • Minimum Period: NRO - 7 Days and NRE - 12 Months
  • Maximum Period: NRE / NRO - 120 Months
  • Deposits available under RIRD/MIP/QIP/ Scheme
  • Funds cannot be withdrawn before the maturity date.
  • Interest earned on NRO FDs is taxable as per Indian Income Tax Act.
  • Funds and interest parked in NRE Term Deposits are fully repatriable upon maturity.
  • Interest earned in NRE term deposit is tax-free in India.

Baroda Advantage Fixed Deposits NRO-Non Callable : Most Important Terms and Conditions (MITC)

  • An individual NRI/PIO in his own name.
  • Jointly by more than one individual (with resident or NRI).
  • TDS will be deducted on interest payment on NRO term deposit but interest payment on NRE term deposit are exempted from TDS as per income tax rules.
  • Frequency of interest payment in the account will be similar as applicable to normal term deposit (callable) product.
  • Eligibility norms and all other instructions applicable to 'Fixed Deposit' will apply mutatis mutandis to these deposits.

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