Bank Of Baroda: Bank of Baroda is one of the third largest public sector banks in India. The bank offers good interest rates while offering attractive recurring facilities. Investing in it gives attractive profits. The great thing is that people from middle class families in a country with limited income can earn good profits after a certain tenure.
Good profit can be made by opening a recurring deposit in Bank of Baroda. It is proving to be helpful for people from middle class families who have limited income. Today it becomes difficult to save with limited income. If a small amount is invested every month in a recurring deposit, a large amount can be easily accumulated by maturity. Which can be used by middle class families for any big work.
It has been said that joining Bank of Baroda’s RD scheme offers a number of benefits to one. You can invest in the scheme without any risk. It is said that loan facility up to 90 percent of the deposit amount is available. An investor can nominate any member of his family or his spouse.
Bank of Baroda has different interest rates on deposits of different tenures. Senior citizens are also given some special benefits. It said that regular RD interest rate on 180 days deposits is 3.70 percent and senior citizens get 4.20 percent interest.
Similarly for regular deposits of 181 to 270 days, the interest rate is 4.30 percent and for senior citizens, 4.80 percent interest is given. Interest rate for regular OD from 171 days to 364 is 4.40 percent and senior citizens get 4.90 percent interest. The regular RD interest rate for 1 year is 4.90 percent and for senior citizens it is 5.40 percent. From 1 year 1 day to 400 days and 401 days to 2 years, regular ID interest rate is 5 percent and senior citizens get 5.50 percent interest.
Regular RD interest rate for 1 day to 3 years is 5.10 percent and senior citizens get 5.60 percent interest. Regular RD interest rate is 5.25 percent for 3 years 1 day to 5 years and 5.75 percent for senior citizens. The regular RD interest rate for 5 years, 1 day to 10 years is 5.25 percent and for senior citizens it is 5.75 percent.
There are some necessary documents required to open an account in Bank of Baroda. It has been stated that for this, PAN Card, Voter ID Card, Driving License, Aadhaar Card, Passport Size Photo, Electricity Bill and Certificate issued by Post Office have to be deposited.