Bank of Baroda Yatha Shakti Jama Yojana RD 2025

How does the scheme work?

1. To open the deposit, you need an initial amount of at least Rs. 100.
2. You can choose your initial amount in multiples of Rs. 100 up to a maximum of Rs. 10,000.
3. The tenures for this deposit range from 10 months to 120 months. Terms can be chosen in chunks of 3 years such as 12 months, 15 months, 18 months, 21 months and so on.
4. After you have opened the deposit, every month, you can either deposit your core amount or you can choose to deposit up to 3 times your core amount. This is subject to a maximum of Rs. 10,000 per month.
5. For example, if you have chosen to start the deposit with Rs. 1,500, you can choose to deposit upto Rs. 4,500 on any subsequent month. But Rs. 1,500 should be contributed every month.

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What are the benefits?

There are multiple benefits under this scheme. Apart from having flexibility with your monthly instalments, some of the benefits have been listed below:

Interest rate - The main benefit is the interest rate which is credited to year bi-annually, once in September and once in March.

Additional interest rate is offered over and above the regular rate for the following applicants:

1. Senior Citizens are eligible to receive 0.50% additional interest on deposits below Rs. 1 crore.
2. Staff and Ex-staff members are eligible to receive additional interest.
3. Ex-staff members who are also senior citizens will receive both bonus interest rates.

Nomination - Bank of Baroda offers nomination facilities so that your nominee or loved one will receive the deposit amount in case of your unfortunate demise.

Premature Closure - You are allowed to close the deposit before the maturity date.

Loan and Overdraft - You can avail of a loan or overdraft facility against this deposit. Bank of Baroda will loan you up to 95% of the outstanding balance in your RD account. Your interest rate will be 1% above the interest rate given on FDs.

Delayed Payments - Bank of Baroda does not levy penalties for late payments.

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Points to Note About the Yatha Shakti Jama Yojana RD Scheme

1. The instalments must be paid monthly.
2. Select your core amount wisely keeping in mind that you can step up your deposit only up to three times that of your core amount.
3. The maximum monthly contribution cannot exceed Rs. 10,000.
4. Interest will be paid to you twice a year.
5. The deposit will mature one month after you make your last installment or on the deposit due date, whichever is later.
6. This deposit is liable for TDS on the interest payments as per the extant guidelines.
7. All other conditions applicable to the regular Bank of Baroda RD scheme will apply here as well.

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RD Article pages

1. How to Open a Recurring Deposit Online?
2. Flexi Recurring Deposit Schemes
3. Differences Between Recurring Deposit and Fixed Deposit
4. Tax on Recurring Deposit Interest
5. Comparison Between Recurring Deposit and Chit Fund
6. Recurring Deposit Interest Rates of All Banks
7. How to Open Recurring Deposit Account in SBI Online
8. Monthly Recurring Deposit
9. SBI Flexi Recurring Deposit Scheme
10. PNB Swechha Jama Yojna/Flexi RD Scheme
11. Bank of India Star Flexi Recurring Deposit Scheme
12. Baroda Samriddhi Half Yearly Recurring Deposit
13. Canara Dhanvarsha Flexi Recurring Deposit Scheme
14. Union Bank Cumulative Deposit Scheme
15. Union Monthly Plus Recurring Deposit Scheme
16. Indian Bank Swarna Nidhi Recurring Deposit
17. Difference Between LIC and Recurring Deposit
18. Indian Bank Variable Recurring Deposit Scheme
19. Baroda Samriddhi Quarterly Recurring Deposit
20. PNB Special Recurring Deposit Scheme
21. PNB Lakhpati Deposit Scheme

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FAQs on Bank of Baroda Yatha Shakti Jama Yojana RD

• What is the policy regarding premature withdrawal?

  A penalty will be imposed at 1% of the interest rate in the case of early withdrawal. The penalty amount will be deducted from the contracted rate or the applicable rate, whichever is lower, subject to penalty. 

• What is the minimum deposit required to open an RD account with the Bank of Baroda?

  The minimum instalment amount for a regular recurring deposit account is Rs. 50. For the Baroda Samriddhi Quarterly Recurring Deposit, the minimum instalment required is Rs. 500. If you opt for the Baroda Samriddhi Half Yearly Recurring Deposit, the minimum instalment required is Rs. 1000. Under the Flexible Recurring Deposit Scheme, known as the Yatha Shakti Jama Yojna, the minimum required instalment amount is Rs. 100. 

• What happens when the RD account matures?

  Once your RD account matures, the principal amount and the accumulated interest component can be directly transferred to your linked savings account. Alternatively, you can choose to invest the RD amount in fixed deposits after maturity. 

• Are additional interest rates provided to senior citizens and bank staff receive?

  Yes, bank staff, including ex-staff members and senior citizens, are eligible for additional interest rates based on the prevailing guidelines of the bank. Retired staff members who are senior citizens can avail the benefits of both the staff rate and the senior citizen benefits. 

• After opening the account, can I convert the regular RD scheme into the Yatha Shakthi Jama Yojana RD scheme?

  Yes, you can request to convert a regular RD account into the Yatha Shakthi Jama Yojana at any time after opening the account. For more information on the conversion process, please get in touch with the bank representatives. 

• How is the penalty calculated for late payments?

  Deposits made within the calendar month in which they are due will be considered as timely payments without any penalty. However, if the payment is delayed until the next calendar month or later, a penalty of Re. 1 for every Rs. 100 per month will be applied. Any fraction of a month will be considered as a full month for calculating the penalty. 

• Does the Bank of Baroda provide a nomination facility for RD accounts?

  Yes, the Bank of Baroda offers a nomination facility for recurring deposit accounts. Whether the RD is opened in a single name or joint name, only one nominee per account is allowed. 

• Who is eligible to apply for an RD account?

  Indian residents, Hindu Undivided Families (HUF), as well as NRIs through NRO and NRE accounts, are eligible to open an RD account with the Bank of Baroda.