bggb.in Ichha Shakti Jama Yojna : Baroda Gujarat Gramin Bank

Organisation : Baroda Gujarat Gramin Bank
Facility : Ichha Shakti Jama Yojna

Details : https://www.bggb.in/government-schemes.php
Website : https://www.bggb.in/

Ichha Shakti Jama Yojna :

Target Group :
Individuals, Salaried Class, People with ranging monthly income, Minors, Housewives, Clubs, Associations, Educational Institutions, Partnerships and joint stock Cons etc.

Related : Gujarat Gramin Bank Baroda Gujarat Kisan Credit Card Scheme : www.statusin.in/21636.html

Purpose :
FOR REGULAR SAVINGS WITH FLEXIBILITY IN MONTHLY INSTALMENTS AND HALF YEARLY COMPOUNDED INTEREST FOR A HIGHER YIELD AS COMPARED TO SAVINGS BANK DEPOSIT.

Minimum Amount :
For a minimum deposit of Rs.100/- per month or in multiple of Rs.100/-, thereafter up to a maximum deposit of 3 times subject to Rs.10000/- per month.

Minimum/Maximum Period :
From a period of 12 months up to a maximum period of 36 months.

Rate of Interest/Rests :
Applicable rate of interest of Bank’s term deposits depending upon the maturity period of the account with half yearly rests as per pattern of Savings Bank deposit.
Interest is calculated on monthly product basis and compounded and credited in the account every six months in the month of July and January for the period January to June and July to December respectively.

Prepayment :
Prepayment of deposit amount allowed affording interest at @1% below the rate applicable for the period the account has run with the bank.
However, there will be no penal interest, if the prematurely withdrawn deposit is reinvested for a period longer than the remaining period of the original contract of the deposit.

Overdraft/Loan Facility/Interest Rate :
Please refer Circular No. BGGB: HO: ADV: 03: 15 dated 30.04.2007

Cheque Book Facility : N. A.
Convenient Features :
A separate Passbook is issued to the depositors.
Scheme where the minimum monthly amount is fixed for chosen period, and the depositor is allowed to deposit variable amount every month.

Easy Access Features :
The monthly installments to be deposited every month on or before 10th to be considered eligible for interest for that month.

Other Special Features :
Higher interest on deposit with a choice to alter the deposit amount every month.
Nomination facility in case of individual & sole proprietorship accounts only.

About Us :
The Central Government vide its Notification No.F.No.1 (2) 2001/RRB dated September 12, 2005, in exercise of the powers conferred by Sub-section (1) of section 23A of the RRBs Act, 1976 (21 of 1976) and also in consultation with National Bank for Agriculture & Rural Development (NABARD), Government of Gujarat and Bank of Baroda, being the Sponsor Bank of Panchmahal Vadodara Gramin Bank, Surat Bharuch Gramin Bank and Valsad Dangs Gramin Bank, in the public interest and in the interest of the development of the area served by the aforesaid RRBs as also in the interest of said RRBs themselves, it had been decided that the said RRBs should be amalgamated in to a single Regional Rural Bank and named as Baroda Gujarat Gramin Bank with its Head office at Bharuch w.e.f September 12, 2005.