Deposits > Baroda MIP - QIP Deposits

Baroda Term Deposit MIP / QIP

Minimum Opening Balance
$500.00
Prepayment - (before maturity)
$25.00

Maturity Withdrawal
Nil
Baroda Term Deposit MIP / QIP is a regular income Term Deposit Account where interest on principal amount is paid to the customer regularly on Monthly or Quarterly basis.

Key Features:
  • Minimum Deposit  $500
  • Period 1 Month to 120 Months
  • Loan facility against the security of Deposit
  • Prepayment option available

Individuals ( Singly or Jointly) including minors

 
How to open account
The account can be opened in any of the branches of Bank of Baroda in Fiji by submitting following documents :
  1. MIP/QIP Term Deposit Account Opening Form.
  2. Deposit of Funds.
  3. Know your customer information / Documents in support of following to the satisfaction of the Bank:
a. Name b. Address c. Date of Birth d. Occupation
e. Specimen Signature f. Citizenship g. TIN h. Source of Funds
  1. Customer will be issued a Term Deposit Acknowledgement/Receipt containing the details of Term Deposit Account. This acknowledgement is required at the time of payment / renewal / obtaining loan. Therefore customer to keep the acknowledgement / Receipt safe and secure.

Additional Information
  • Customer should have Saving / Current Account where interest will be credited monthly / Quarterly.
  • Simple Interest on Term Deposit is paid regularly after deduction of applicable Withholding Tax (RIWT / NRIWT) at following intervals:
    • Monthly    - Every Month at the end of the month
    • Quarterly - Every Quarter at the end of the quarter(March / June / September/ December)
  • Premature payment of Term Deposit can be made at the sole discretion of the bank on payment of premature charges of $10.00.
  • Deposit can be renewed at the rate applicable on the renewal date.
  • The deposit will be automatically renewed at maturity for similar tenure under similar terms at the prevailing interest rate if no instruction for payment/renewal is received from deposit holder.
  • For interest rate, please click on the link at end.
  • For Clarification or any other information please contact any of our branches in Fiji.
  • Terms and Conditions apply

Fees and Charges

© 2020 Bank of Baroda, Fiji Territory, GPO. Box.57, Suva, Fiji Islands.