Bank Of Baroda - Introduction of FD Advice in lieu of FD Receipt

Bank Of Baroda – Introduction of FD Advice in lieu of FD Receipt

Dear Customer,

In its transformation journey, the endeavor of Bank of Baroda is to digitize processes with a view to deliver ease of Banking to its customers. In this direction, we are pleased to inform that Bank has introduced the facility of FD Advice in lieu of FD Receipt.

Features of FD Advice:

The FD advice is a computer generated statement of the FD account which contains all information of the account such as Name of customer, Branch, Linked Savings account, Amount of Deposit, Duration, Rate of interest, Maturity Value, PAN details, Terms & Conditions etc.
FD Advice contains all information that is present in FD Receipt and the only difference is that FD advice is printed on normal paper and not security paper.
As advice is computer generated, there is no requirement of signature from Branch official.
In near future, FD advice will also be sent to your registered email.
Benefits of FD advice:

Green Initiative – Once we start to send the advice on your email, there will not be any need to take a print out and you will be contributing in saving the environment.
Presently in case of FD Receipt, customer has to provide an indemnity bond in case of loss of receipt on closure of FD or for duplicate receipt. There will NOT be any requirement of indemnity and customer can get a duplicate advice by submitting an application in the branch.
Ease of Banking to customer especially to Sr. Citizen as there will be no security paper involved and customer is free from worrying of loss or destruction of receipt.
The advice is very much valid and good as receipt.
In view of the benefits of the advice, we trust that you will find FD advice more convenient than receipt. It is our firm belief that you will accept the new initiative whole heartedly and this great initiative will be a huge success.

Sincerely,

Bank of Baroda