Baroda Pensioners Savings Bank Account

03 Jul 2019

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Pensioners can avail the Bank of Baroda Pensioners Savings Bank Account. This is an ideal retirement savings account. All pensioners, including Bank of Baroda staff pensioners may open this account. The Baroda Pensioners Savings account is especially created to provide necessary banking facilities and benefits to pensioners and is meant only for savings oriented transactions.

Key features of the Baroda Pensioners Savings Bank Account

Initial deposit:

The pension savings account can be opened with a minimum deposit of Rs. 5 only.

Free pass book and cheque book:

All account holders are provided with a free passbook and chequebook with an unlimited supply of cheque leaves. The free cheques facility is only reserved for the literate pensioners.

Debit card:

All account holders get a debit card which can be used for cash withdrawals, ATM transactions, balance enquiries etc. The debit card can also be used for making online and retail transactions.

Overdraft facility:

Pensioners may avail overdraft facility up-to a maximum of 2 months’ pension amount as per the net credit to savings account in the previous month, only if no other credit facility is availed by the pensioner.

Benefits of the Baroda Pensioners Savings Bank Account

No Minimum Balance requirement in the account.

Net banking

Customer get access to net banking facility for paying utility bills, online shopping and making other online transactions.

Outstation cheque

Customers can enjoy immediate credit of outstation cheques for up to Rs. 25,000

Nomination facility

Nomination facility is also available under this account

Cash deposit

Customers can deposit unlimited cash in their home branch and up-to ₹25,000 in outstation branches free of charge.

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