Baroda Bachat Mitra

• Product Nature : Overdraft facility in Savings Account secured by Pledge of Term Deposit
  
  
• Eligibility Criteria : Individuals eligible to open Savings Account singly / jointly and having attained the age of 18 years
  
  
• Minimum Amount : Savings Account: There shall be no minimum balance requirement for Savings Account, as such no service charges shall be levied towards maintenance of minimum balance.
  Fixed Deposit: Minimum amount of deposit accepted for the facility would be Rs10000/- and thereafter in multiples of Rs1000/- with a minimum period of 12 months and maximum period of 120 months.
  
  
• Maximum Amount : There shall be no ceiling on the maximum amount to be deposited as Fixed deposit and credit balance in Savings Account.
  
  
• Overdraft Limit : To the extent of 80% of Fixed Deposit with a minimum limit of Rs8000/- and maximum of Rs100000/- .
  Third party FDRs are not eligible under this scheme.
  FDRs issued by any other branch /bank can not be pledged and accepted as security, as per extant guidelines of the bank.
  
  
• Interest Rate : Fixed deposit: As per contractual rate, at the time of accepting deposit.
  Savings A/c : As per existing rules for credit balance in SB A/cs and for debit balance in Savings A/c 1.5% over Fixed Deposit rate with monthly rests and a minimum of Rs25/- will be charged during a month if overdraft facility is availed.

Identity proof :

    * Passport
    * PAN card
    * Voter ID card
    * Driving licence
    * Government ID card
    * Photo ration card
    * Senior citizen ID card


Address proof :

    * Passport
    * Telephone bill
    * Electricity bill
    * Bank Statement with Cheque
    * Certificate/ ID card issued by Post office