Deposits

Bank of Baroda, Sydney Branch offers various deposit plans that you can choose from depending on the term period, nature of deposit and its unique saving and withdrawal features.

Following are the variants of deposits:  

  • Current Accounts.
  • Fixed Deposits.

Below mentioned are some of the reasons for the popularity for our deposits:

  • The paramount interest rates on long term deposits.
  • Flexible repayment and reinvestment options at the end of the term.
  • Friendly and professional customer service.
  • Safe and Sound investment in one of the prominent Public Sector bank of India.

Setting up a Term Deposit with Bank of Baroda, Sydney Branch

Our products offer competitive interest rates and convenient withdrawal options to our valued customers. For a resident individual a minimum of $250,000 is required to open a fixed deposit account.

For non-residents and other incorporated entities the minimum requirement is $10,000.

As per the regulatory requirements, Banks have to collect the necessary documentation to follow KYC norms and satisfy AML/CTF obligations for which following documents will be required to open an account with us:

  • The copy of the Passport.
  • The copy of the Australian Driver’s Licence, above 18 Card for Identification purpose.
  • A copy of any utility bill for address identification purpose.
  • Completed Account Opening Form.
  • TFN ^

^ Tax File Number Notification/Exemption:

You need to provide the Tax File Number (TFN) or if you are exempt, please provide us with a reason. It is not an offence if you do not quote your TFN or do not give the reason for exemption. Bank of Baroda will deduct Withholding Tax at the top marginal rate in case we are not provided with it.