Digital Banking in India, Digital transformation banking
Dcardfee means debit card charges. Bank of Baroda charges once in a year for ATM. (DCARDFEE चार्ज क्यूँ लगता है ?)
dcardfee means debit card in bank of baroda. You can check your passbook or statement. DCARDFEE Is 177 rupees for normal card and 236 rupees for platinum card.
LFCEV charge is Ledger folio charge. Bank of baroda takes ledger folio charges as per no. of transaction.
It is applicable to Current Account, CC, Over Draft account
Ledger folio charges (LFCEV remark in statement ) is Rs125/- per 25 entries (one folio).
| Av. Credit Bal (Rs) | folios (per quarter) in Every 3 months |
| Account balance Up to 25000 | All folios are chargeable |
| Above Rs 25000/- to Rs 1,00,000/- | Chargeable after 2 folios |
| Above Rs 1 to Rs 2 lac | Chargeable after 5 folios |
| Above Rs 2 to Rs 5 lac | Chargeable after 10 folios |
| Above Rs 5 lac | Folio Charges not applicable |
Folio means 25 entries per page.
Ledger folio charges to be recovered on a quarterly basis.
Interest rate in Fixed deposit in Bank of Baroda
| Time period – Tenors | Amount Below Rs 2 Crore (w.e.f. 26.11.2019) |
|---|---|
| from 7 days to 14 days | 4.50 percent |
| from 15 days to 45 days | 4.50 |
| from 46 days to 90 days | 4.75 |
| 91 days to 180 days | 5.50 |
| 181 days to 270 days | 5.90 |
| 271 days & above and less than 1 year | 5.90 |
| 1 year | 6.25 |
| Above 1 year to 400 days | 6.30 |
| Above 400 days and upto 2 Years | 6.25 |
| Above 2 Years and upto 3 Years | 6.25 |
| Above 3 Years and upto 5 Years | 6.25 |
| Above 5 Years and upto 10 Years | 6.25 |
| 444 days (Only for Baroda Samriddhi Deposit Scheme) | Discontinued |
RBI has decreased repo rate recently. Do you know how does it affect the bank interest rate on loan portfolio?
Normally, it has a positive effect on borrowers as they may get benefit in EMI. Every bank declares its new interest rate whenever RBI increases or decreases the repo rate.
Recently RBI reduces repo rate which is good for borrowers. All banks will announce low-interest rate soon.
Banks borrow money from RBI with this rate. It is announced by RBI. It is the opposite of reverse repo rate. RBI repo rate is changed by RBI during the monetary policy.
Friends if you have FD in any bank, this blog is for you.
As you know that if you have FD in any bank you need to submit 15G or 15H, according to your age. So that Bank does not deduct TDS on your FD interest. Read more about 15G or 15H form.
If your age is below 60 year, you need to submit 15G and if you are senior citizen that means your age is more than 60 years, you need to submit 15 H form.
From this year, government has made some changes, if your interest income is more than 40000 per year, then you need to submit 15G form and if you are senior citizen, and your interest income is more than 50000 rupees per year, then only you need to submit 15H.
Earlier this threshold limit was 10,000 only per year that means that if your annual interest exceeds more than 10000 in that case you need to submit 15g but as I told that this rule has been changed from this year only, which is from financial year 2019-20.
Now they there are two scenarios, from this financial year. First is, if your age is below 60 year and your income interest income exceeds 40000 then you need to submit 15g form. Second is, if your age is more than 60 and your interest income exceeds 50000 rupees, in that case only you need to submit 15H form in bank.
If your interest income exceeds threshold limit and you don’t submit 15g or 15h form in bank in that case bank will deduct 10% TDS from your interest income and bank will remit to Income Tax Department further you will have to claim back during ITR filing. If your income is not taxable and bank has deducted TDS in that case you need to file ITR and you can claim your deducted amount as refund.
If you still have any doubt then comment below with using your Facebook id I will reply.
Read also: 15G form new rule in 2019
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