Deposit

Deposit

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

Apart from competitive interest rates and convenient withdrawal options, our deposit plans offer other features such as cheque book facility in all current accounts and saving products, sweep in and sweep out from current to call and vice versa, accounts of individuals etc.

Fixed Deposit AccountThis product is available for the deposit holders to keep fixed sum of money for a definite period of time at a fixed rate of interest

  • Eligibility:
    Individuals, business firms, company, association, society etc.
  • Deposit amount:
    Minimum P500
    Maximum No Limit
  • Period:
    Minimum 91 says
    Maximum 36 month
  • Rate of interest:
    As applicable for deposit rates for one month and other periodic slots from time to time.
  • Prepayment facility is available. Rate of interest on prepayment will be 1%less than the applicable rate for the terms of deposit remained with the bank
  • Overdraft/ loan facility Interest rate:
    Available
    – Up to 90% of the deposit amount
    – 2% over the deposit rate of interest applicable
  • Special features:
    1. Deposit can be renewed with interest on due date.
    2. The principal amount of deposit can be renewed and interest is paid separately to the customer
    3. The principal amount and interest due thereon will be paid to the customer on due date.
    4. Special rates for deposits of P0.5 mn and above.
  • Other terms and conditions:
    If the entire amount is withdrawn within one month from the date of deposit, no interest will be payable on deposit. However, if the deposit remains with the Bank prepayment may be considered with interest @1% below the rate applicable for the period for which the deposit has remained with the Bank.
CONTACT

Current Account (Business Account)Current Deposit product is ideal for firm, companies, institutions, HUF, individuals etc., who need banking facility more frequently. This is one of the most basic and flexible deposit options, allowing transaction without limiting the numbers.

  • Eligibility:
    Individuals business firms companies, associations, society etc.
  • Deposit amount:
    Minimum P3000
    Maximum No Limit
  • Interest:
    No interest is payable in the A/C
  • Cheque Book Facility:
    Available
  • Overdraft/ loan facility:
    Overdraft facility available by arrangement
  • Special features:
    1. Any number of debits and credits are allowed in the account
    2. Debits in the account will be allowed without service fees which are related to business or personal loans availed from the Bank and also transfer of funds from one account to another account maintained within Bank of Baroda (Botswana)ltd of the same customer or any other customer.
  • Sweep in Sweep out facilities:
    Sweep in Sweep out facility is available on balance above BWP3000 on request in from call account. Interest is payable on call account as per applicable rate.
  • Service Charges:
    As declared by the Bank from time to time
CONTACT

Call AccountThis product is designed for the deposit holders to enable them to deposit funds keep them liquid continue to earn interest and use the funds as and when needed.

  • Eligibility:
    Individuals, business firms, company, corporate, association, society etc.
  • Deposit amount:
    Minimum P1000
    Maximum No Limit
  • Period:
    No minimum or maximum period is stipulated
  • Rate of interest Rests:
    Interest is paid on the outstanding balance in the account on daily basis and is paid at monthly intervals. However, balance less than P1000 does not attract interest
  • Special features:
    1. The customer can deposit money at any time.
    2. Withdrawals can be made in multiples of P 1000.
    3. No interest is payable if the balance in the account goes below P 1000 at the end of any day during the month.
    4. Special rates for deposit amount P0.50 mn and above.
CONTACT

Poelo SavingA savings account with high liquidity, highest returns and cheque book facility

  • KEEP YOUR ASSETS LIQUID:
    Bank of Baroda (Botswana) Ltd is the only bank who offers you to open Savings Bank account with Cheque Book facility and no restriction on withdrawal. Poelo Savings Account earns for you rate of interest maximum up to 5% p.a. with full liquidity invested in the account and the depositor can draw money any number of times without restrictions of number of withdrawals.
  • HIGHEST RETURN:
    Depositors earn very high return on their balances in Poelo Savings Bank Account. Interest is applied from day one, every month on daily product basis. Annual yield therefore works out to even more.
  • For latest rate of interest please click here
  • OTHER POSITIVE FEATURES:
    1. Full access to your money deposited in the account.
    2. Debit Card/ATM is available on request
    3. Free internet banking facility
    4. Saving of precious time every month by giving standing instructions for your periodical payments/remittances for utilities, insurance premium, etc.
    5. Employer of the depositors can pay salary directly into account.
    6. Free transfer of funds within the branch & other branches of our bank.
    7. No account maintenance charges if minimum balance of P 1000 is maintained in the account.
    8. Minimum Charges for various services.
    9. No hidden cost unlike other banks.
    10. Inter-bank transfer of funds at minimum cost
  • Account may be opened by individuals – Singly or jointly, trusts, associations, clubs
CONTACT

Isago Saving AccountUnique Savings account with P100 Minimum balance and No account maintenance charges with Debit Card facility and Free Internet Banking facility

  • Eligibility to Open the account:
    Account may be opened by any individual either singly or jointly. Monthly income of the depositor should not exceed P5000 and annual credit in account should not exceed P60000.
  • Special Features of the account:
    1. Bank of Baroda (Botswana) Ltd offers you Isago Savings Bank account with P100 only
    2. Minimum balance required is P100
    3. Customer can open account with zero balance and the minimum initial deposits may be made within 3 days of opening the account.
    4. No restrictions on number of withdrawals
    5. Full liquidity and flexibility in operation of the account.
  • Highest Return:
    Depositors earn very high return on their balances in Isago Savings Bank Account. Rate of interest varies with the average balance in the account as under:
    Interest is applied from day one, every month on daily product basis. Annual yield therefore works out to even more.
  • Conversion facility to Poelo Saving or Premium Saving Account:
    The Isago Saving account may be converted into Poelo Saving Bank account or Premium Saving Bank account after depositing the required minimum amount.
  • Other Positive Features:
    1. Debit Card/ATM card is available on request.
    2. Free Internet banking facility.
    3. Saving of precious time every month by giving standing instructions for your periodical payments/remittances for utilities, insurance premium, etc.
    4. Employer of the depositors can pay salary directly into account through EFT.
    5. Free transfer of funds within the Branch and other branches of our Bank.
    6. Inter bank fund transfer allowed at minimum cost
    7. No hidden cost.
CONTACT

Premium Saving AccountA unique Savings Bank account which gives you much higher interest rate coupled with high liquidity and cheque book facility

  • OTHER POSITIVE FEATURES:
    1. Unlimited free cheque books.
    2. Unlimited number of withdrawals without any restrictions.
    3. Free and at par issue of Banker’s cheque for their personal use.
    4. Full access to your money deposited in the account.
    5. Saving of precious time every month by giving standing instructions for your periodical payments/remittances for utilities, insurance premium, etc.
    6. Employer of the depositors can pay salary directly into account.
    7. Free transfer of funds within the Branch and other branches of our Bank.
    8. Inter bank fund transfer allowed at minimum cost
    9. Minimum Charges for various services.
    10. No hidden cost unlike other banks
  • Account may be opened by individuals – Singly or jointly, trusts, associations, clubs
  • Minimum balance:
    Minimum balance for the above account should not be less than BWP 100,000.00. Account maintenance charges of BWP 700 + Vat per quarter is chargeable if minimum balance of BWP 100,000.00 is not maintained in the account.
  • Closure of account:
    100 + vat if account is closed after 12 months of opening. Charges for closure of account within 12 months of opening of account will be P 500 + vat.
  • Interest is subject to withholding tax as applicable from time to time.
CONTACT

Motswedi (RD) AccountA unique product developed for the customers who wishes to contribute small savings every month for their large future requirementsYou may contribute as small amount as P 50 per month which earns good return every month and on maturity the whole savings may either be reinvested or utilized.

  • Key benefits:
    • Monthly contribution may be as low as P 50 per month or in multiple of P 5. Maximum amount that can be contributed per month is pegged at P 100,000/-
    • Earn higher interest on monthly basis on outstanding balance as on the last day of the preceding month.
    • Hassel free loan/overdraft facility up to 90% of the deposit amount available. Interest on loan/overdraft will be charged only @ 2% over the deposit interest rate on monthly basis.
    • Accounts may be opened by any individual, firm, organization, trust, society.
    • Deposit tenure ranges from minimum of 12 months and up to 60 Months in multiple of 3 months.
  • OTHER TERMS AND CONDITIONS:
    • Contribution may either be made in cash or transfer from existing accounts with our bank. Customers may also give standing instructions from their account with us without any extra charges/stop order from other bank.
    • Interest payment is subject to withholding tax.
    • Premature payment in case of exigencies is permitted. Interest will be calculated at 1% below the rate applicable for the period of deposit.
    • Monthly minimum contribution as per the original contract should be deposited latest by 7th of the month. No penalty on default in payment of installment. However, interest is not payable for the default month installment.
    • No premature payment penalty will be levied in case of the same is reinvested in any other deposit plan of our bank.
    • Simple application form.
  • * Interest will be compounded on monthly basis.
CONTACT

Deposit at NoticeThis product is made for depositors to keep deposit for a certain period which can be withdrawn by giving notice i.e 31 OR 88 days

  • Eligibility:
    Individuals, business firms, company, association, society etc.
  • Deposit amount:
    Minimum P1000
    Maximum No Limit
  • Period:
    Notice of 14 or 88 days for withdrawals of funds
  • Rate of interest:
    As applicable for the notice period as notified from time to time.
  • Prepayment facility:
    Allowed 0.5% penal interest will be charged if withdrawal is made without giving any notice.
  • Special features:
    Special rates for deposits exceeding P 0.50 Mn
CONTACT