Those looking for the sources of an additional income, BOB Regular Income Plan can provide them with a supplementary income as per their tenures (monthly, quarterly, half-yearly and yearly). This is an ideal scheme as the depositors can add additional earnings to their regular earnings and in return can keep their finances on track. Moreover, the depositor can withdraw the maximum of 95% from their total amount in the deposit.
Minimum: Rs.1,000/- with subsequent withdrawals in multiples of Rs.100
Rate of Interest
Minimum: 1 Year
Maximum: 10 Years
Under the Income Tax department rules and regulation, TDS is applicable
Loan against ICICI Money Multiplier Plan
Yes, except if not mentioned
The Regular Income Plan offered by Bank of Baroda provides with competitive rates which are compounded on a three-month basis.
Deposits below Rs.1 crore
Rs.1 crore to Rs.10 crores
Rs.10 crores to Rs.50 crores
Above Rs.50 crores
Above 365 Days to 3 Years
Above 3 Years and up to 5 Years
Above 5 Years and up to 8 Years
Above 8 Years and up to 120 Months
Kindly Note: The mentioned rates in the Band of Baroda Regular Income Plan are subject to change in accordance with the bank’s market conditions and liquidity requirements.
Furthermore, the BOB Regular Income Plan provides the senior citizens with an additional 0.5% interest on all their deposits mentioned under this scheme.
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