Baroda Shule Savings Account

• Saving Bank Shule Account will carry interest of 5% p.a. i.e. applicable for Savings Bank deposit.
• FDR will be kept for 9 months and carry interest rate of 5% p.a. Interest will be added to FDR every nine months and renewed for further 9 months automatically.
• 9 months tenure for FDR is kept for the following reasons
• To coincide with the academic year
• To have deposits for longer period at lower costs
• In case of premature payment penalty of 1% interest will be charged. i.e. 1% less interest than the applicable rate for the relevant period will be credited to the

• One Baroda Shule Account – it is an operative Savings Bank Account. Money can be used for the child.
• One Short Term Account containing SDRs of TZS 100,000/- each linked to Savings Bank Shule Account. Account can be held only in joint name of child / natural parent or guardian.
• However, name of the designated person / s for insurance shall be declared at the time of opening the Account.

• All students in the age group of 3 to 18 years jointly with parents.
• This is suitable for the students of salaried persons, higher and middle income groups who earn regular incomes.

• Filled Account opening form,
• Parents need to submit 2 passport size photo,ID proof and Address proof
• Child need birth certificate .

• Saving Bank Shule Account will carry interest of 5% p.a. i.e. applicable for Savings Bank deposit.
• SDR will be kept for 9 months and carry interest rate of 5% p.a. Interest will be added to SDR every nine months and renewed for further 9 months automatically.
• No charges

Minimum and Maximum Amount

Short Term Deposit