Baroda Term Deposit MIP / QIP

• Minimum Deposit $500
• Period 1 Month to 120 Months
• Loan facility against the security of Deposit
• Prepayment option available (Terms & Conditions apply)

• Individuals ( Singly or Jointly) including minors

Instructions

• Authority to transfer funds from Saving/Current account to Term Deposit account by way authority letter or Cheque if funds are transferred.
• Customer will be issued a Term Deposit Receipt / Acknowledgement containing the details of Term Deposit Account. This acknowledgement to be produced to the bank the time of payment / renewal / obtaining loan. Customer to keep the Receipt / acknowledgement safe and secure.
• At the time of maturity or Withdrawal of Deposits, the deposit needs to be retruned back to the bank.

Customer to provide documents in support of following

Residents

• Name of Customer
• Permanent Residential Address in Fiji
• Date of Birth
• Occupation , Business , Service or Princial Activity
• Citizenship
• Source of Funds

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Non Residents / Non-Fiji Citizens

• Name of Customer
• Permanent Residential Address in Fiji
• Date of Birth
• Occupation , Business , Service or Princial Activity
• Citizenship
• Source of Funds
• Current and valid Passport or any other travel document issued by a foreign government or recognised international Organisation
• Current and valid Work, Business or Other Permit or Visa issued by the Fiji Immigration Department
• Current and valid Employment or Student Status Document issued by the Customer’s Employer or the Education Institute in Fiji.
• Any other document stipulated by regulatory agencies from time to time.

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For PEP Account (Following Information needs to be provided)

• Name of Customer in Full
• Details of Position holds lds or has held a senior government, political or military position
• Title of Position held
• If held in Past (From - Upto)

Compulsory Documents to be submitted

• Tax Identification Number (Tin Letter)
• A valid Joint Fiji Revenue and Customs Authority & Fiji National Provident Fund ID card
• Birth Certificate issued by the Births, Deaths & Marriages Registry.
• In case of married women, Marriage Certificate along with Photo Identity of the Groom & Address Proof is must, if Account is to be opened in name with Groom’s Name)
• Two Latest Colour Photograph
• Atleast -1- Document each from List A (FTR Regulations 8(1)) & List B (FTR Regulations 8(2)

• 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)
• Interest is credited in the account at the end of every month.
• Deposit can be renewed at the rate applicable on the renewal date.
• Please refer interest rate brochure for rate of interest.

• Operative Account is must for placing the deposits.
• Resident Individual Withholding Tax (RIWT)/ Non Resident Individual Withholding Tax (NRIWT) will be applicable as per FRCS guidelines issued from Times to Time.
• Simple interest on Principal Amount of Term Deposit will apply at the time of maturity, after deduction of applicable Withholding Tax (RIWT/NRIWT).
• Premature payment of Term Deposit can be made at the sole discretion of the bank.
• Deposit can be renewed further with interest 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 its renewal / payment is received from depositor.
• Prepayment Charge of F$25/- would be recovered from the deposit holder
• At the time of maturity / withdrawal of deposit the deposit needs to be returned back to branch.
• For Clarification or any other information please contact any of our branches in Fiji.
• Terms and Conditions apply