Key facts
What the official sources publish
Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.
EligibilityIndividuals, including minors through a guardian, in a single name as directed by the Court/Government order; linked MACT Claims Savings Bank account is required.View source
The official product table states claimant eligibility, single holding and linked account prerequisite.
- Source
- Motor Accident Claims Annuity Deposit ()
- Page / section
- Product nature / Eligibility
- Accessed
- 23 Aug 2026
- Confidence
- high
Deposit amountAmount ordered by the Court/
The official table ties the amount to the court order and ₹1,000 minimum monthly annuity.
- Source
- Motor Accident Claims Annuity Deposit ()
- Page / section
- Deposit amount
- Accessed
- 23 Aug 2026
- Confidence
- high
Tenure36–120 months. Less than 36 months is booked as a normal FD; a longer period may be booked when directed by the Court.View source
The official product table publishes the 36–120-month range and court-directed exception.
- Source
- Motor Accident Claims Annuity Deposit ()
- Page / section
- Duration
- Accessed
- 23 Aug 2026
- Confidence
- high
Interest ratePrevailing term-deposit rate for the selected tenure, with an additional 0.50% for senior citizens.View source
The official table publishes tenure-linked card rates and the senior-citizen add-on.
- Source
- Motor Accident Claims Annuity Deposit ()
- Page / section
- Rate of interest
- Accessed
- 23 Aug 2026
- Confidence
- high
Annuity payoutMonthly annuity comprising principal and interest is credited to the linked MACT Claims Savings Bank account; principal becomes nil at the end of the term. No deposit receipt is issued; passbook is provided for the linked account. Nomination follows the Court direction.View source
The official table describes monthly credit, principal amortisation, documentation and nomination.
- Source
- Motor Accident Claims Annuity Deposit ()
- Page / section
- Interest payment / Deposit receipt / Nomination
- Accessed
- 23 Aug 2026
- Confidence
- high
Senior-citizen rateNot applicable — the reviewed scheme page does not publish a separate senior-citizen rate or age-based rate uplift for this product.View source
The reviewed official scheme pages describe the applicable government or product rate but do not provide a separate senior-citizen rate column.
- Source
- Bank of Baroda government deposit scheme catalogue and linked scheme pages
- Page / section
- Rate / eligibility sections
- Accessed
- 29 Aug 2026
- Confidence
- high
Premature withdrawalMACAD deposits are court-directed annuity deposits; premature closure or withdrawal is not available as an ordinary customer option and is governed by the motor-accident-claims order and scheme rules.View source
The product is an annuity deposit created under a motor-accident claims award, not a freely withdrawable retail deposit.
- Source
- Motor Accident Claims Annuity Deposit ()
- Page / section
- Features / withdrawal rules
- Accessed
- 29 Aug 2026
- Confidence
- high
Eligibility
- Individuals, including minors through a guardian, in a single name as directed by the Court/Government order
- linked Claims Savings Bank account is required.
Passing a listed condition does not mean the bank will approve an application.
Related official documents
Bank of Baroda government schemes and deposit product pagesofficial-product-pages · current · accessed 29 Aug 2026
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