Your business deserves the right financial partner.


Opt for BOB Advantage Current Account and get multiple benefits.

  • Benefits
  • Features
  • Eligibility
  • Documents Required
  • Fees & charges
  • Most Important Terms and Conditions (MITC)

bob ADVANTAGE CURRENT ACCOUNT : Benefits

  • Internet Banking Facility available.
  • Mobile Banking (for Individual/ Proprietorship accounts only).
  • Missed Call Facility available.
  • Value added SMS Alert Facility .
  • Debit/ATM Card: Baroda Vyapaar Card .

bob ADVANTAGE CURRENT ACCOUNT : Features

  • POS, Bharat QR Code & BHIM QR Code: Applicable charges.
  • Internet Payment Gateway (IPG) facility available.
  • Baroda Cash Management Services: Enjoy the convenience of BCMS services for bulk payment & collection at competitive rates offered by the Bank.
  • Baroda Payment Gateway: Accept online payments through all modes through state of art payment gateway of the Bank.
  • Baroda Pay Point: Accept online/offline payment through all modes with Low transaction fee and initial investments.

bob ADVANTAGE CURRENT ACCOUNT : Eligibility

  • All Individuals including Minors of age 14 years and above.
  • Registered & Un-registered Trust.
  • Businessman and professionals.
  • Hindu Undivided Family (HUF).
  • Proprietorship / Partnership firms.
  • Private / Public Ltd Cos.
  • Clubs & Association.
  • Government Departments.
  • Panchayat Samities.
  • Charitable & Public Trusts.
  • Registered & unregistered Societies.
  • Banks and Financial Institutions.

bob ADVANTAGE CURRENT ACCOUNT : Documents Required

List Of Valid KYC Documents For Account Opening
Permanent Account Number (PAN)/ FORM60 is mandatorily to be obtained while opening of the accounts as per extant Reserve Bank of India Guidelines.
Officially Valid Documents (OVDs) for Accounts of Individuals
  • Passport
  • Driving license with photo
  • Proof of possession of Aadhaar Number
  • Voter’s Identity Card issued by Election Commission of India,
  • Job card issued by NREGA duly signed by an officer of the State Government.
  • Letter issued by the National Population Register containing details of Name and Address.
Deemed Officially Valid Documents, In case OVD does not contains current/ updated address. (At least one document from the list is Required.)
  • Utility bill of any service provider i.e. electricity, telephone, postpaid mobile phone, piped gas, water bill (not more than two months old)
  • Property or Municipal Tax receipt;
  • Pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings, If they contain the address;
  •  Letter of allotment of accommodation from employer issued by State or Central Government departments, statutory or regulatory bodies, and public sector undertakings, scheduled commercial banks, financial institutions and listed companies. Similarly, leave and license agreements with such employers allotting official accommodation;
In case of Foreign Students
  • Copy of Passport and copy of Visa.
  • An Identity Card issued by college / institution.
  • An admission letter for the course mentioning duration of course for which he/ she is admitted by the Institute / College.
  • An allotment letter on letter head of the institution/ college for allotment of hostel accommodation duly singed by the authorized signatory, mentioning detailed address and location of hostel, room no. etc. and date of allotment of hostel accommodation etc. or a valid address proof giving local address in form of rent agreement within 30 days of opening of the account.
For NRI / Foreign Tourist For PIO/OCI
  • Passport
  • Valid Visa
  • PAN/FORM60
Address proof mentioning the current overseas address (any one of the below) Documents issued by Govt. Deptt. of foreign jurisdictions i.e. Driving License, National Identification Card, Social Security Card, Employee Card and Labour Card, Tax Residency Certificate etc. having Name and Address of the Applicant Letter Issued by Foreign Embassies or Mission in India having Name and Address of the Applicant Utility bill of any service provider i.e. electricity, telephone, postpaid mobile phone, piped gas, water bill (not more than two months old) Property/ Municipal Tax Receipt
Letter of allotment of accommodation/ Leave and License agreements allotting official accommodation from employer issued by State or Central Govt. departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions and listed companies.
For Foreign Nationals
  • PAN/FORM60
  • Valid Foreign Passport
  • Valid Indian Visa
Address proof mentioning the current overseas address (any one)
  • Foreign Driving License
  • Documents issued by Govt. Deptt. of foreign jurisdictions i.e. National Identification Card, Green Card and Social Security Card etc. having Name and Address of the Foreign National.
  • Letter Issued by Foreign Embassies or Mission in India having Name and Address of the Applicant

(FRRO/ FRO Certificate/ Permit/ Indian Driving License/ OVDs/ any Deemed OVD mentioned herein above, is required to be provided for Indian Address Proof.)

Accounts of Companies
  • Certificate of Incorporation
  • Memorandum & Articles of Association.
  • PAN No. of the Company
  • Resolution of the Board of Directors and Power of Attorney granted to its managers, officers or employees to transact on its behalf; and
  • Any one of the OVDs and PAN/FORM60 of the managers, officers or employees, as the case may be, holding an attorney to transact on its behalf with his / her photograph
Accounts of Sole Proprietary firms.

(Any two of the following documents to be obtained)

  • Registration Certificate
  • Certificate/ license issued by the municipal authorities under Shop & Establishment Act,
  • Sales and income tax returns,
  • CST/ VAT/GST Certificate (Provisional/Final),
  • Certificate / registration document issued by Sales Tax / Service Tax / Professional Tax authorities.
  • IEC (Importer Exporter Code) issued to the proprietary concern by the office of DGFT or License/ certificate of practice issued in the name of proprietary concern by any professional body incorporated under statute
  • Complete Income Tax return (not just the acknowledgement) in the name of Sole Proprietor where the Firm’s income is reflected, duly authenticated/ Acknowledged by the Income Tax Authorities.
  • Utility bills such as electricity, water, and landline telephone bills in the name of the proprietary concern. In case where the branches are satisfied that it is not possible to furnish two such documents from the above list, they would have the discretion to accept only one of those documents as activity proof. In such cases, the branches would have to undertake contact point verification, collect information to establish the existence of such firm, confirm, and satisfy itself that the business activity has been verified from the address of the proprietary concern.

    AND

    Any one of the OVDs along with PAN/ FORM60 of the proprietor.

Accounts of Partnership firms. (Registered)
  • Registration certificate,
  • Partnership deed; and
  • PAN No. of the Partnership Firm,
  • Any one of the OVDs and PAN/ FORM60 of the person holding an Attorney to transact on its behalf with his/ her photograph
Accounts of Trusts
  • Registration Certificate
  • Trust Deed
  • PAN/ FORM60 of Entity
  • Any one of the OVDs and PAN/FORM60 of the person holding an Attorney to transact on its behalf with his/her photograph.
Accounts of Unincorporated Associations or body of individuals includes unregistered
  • Resolution of the Managing body of such association or body of individuals;
  • PAN/ FORM60 of Unincorporated Associations or body of individuals
  • Power of Attorney granted to transact on its behalf;
Partnership firm/ trusts and societies.
  • Any one of the OVDs and PAN/ FORM60 of the Office bearers / Signatories and persons holding Power of Attorney, if any with his/her photograph in respect of the person holding an Attorney to transact on its behalf;
  • Any one of the below mentioned list of documents to collectively establish the legal existence of such an associations or body of individuals.
  • Partnership Deed/ Trust Deed/ Bye Laws
  • Certificate/ license issued by the municipal authorities under Shop & Establishment Act,
  • Sales Tax Returns,
  • CST/ VAT/ GST certificates (Provisional/ Final)
  • Certificate/ registration document issued by Sales Tax/ Service Tax/ Professional Tax authorities.
  • License/ certificate of practice issued in the name of proprietary concern by any professional body incorporated under statute.
  • Complete Income Tax return (not just the acknowledgement) in the name of Sole Proprietor where the Firm’s income is reflected, duly authenticated/ Acknowledged by the Income Tax Authorities.
  • Utility bills such as electricity, water, and landline telephone bills in the name of the concerns.
Accounts of Hindu Undivided Family
  • PAN Card of HUF.
  • Declaration from the Karta.
  • HUF Letter/ Declaration signed by all the coparcener and Karta.
  • Any one of the OVDs and PAN/ FORM60 of the Karta with his / her photograph
Accounts of the Government or its Departments, societies, universities and local bodies like village panchayats etc.
  • Document showing name of the person authorized to act on behalf of the Government or its Departments, societies, universities and local bodies like village panchayats;
  • Any one of the OVDs and PAN/FORM60 of the person holding an attorney to transact on its behalf and
  • Any document to establish the legal existence of such an entity/ juridical person.
Account of Political Parties
  • Duly signed resolution of the working committee/ managing body as per bye- laws indicating details of the party president/ authorized signatory, tenure etc.
  • PAN of the Political Party
  • Power of Attorney granted to transact on its behalf;
  • Duly authenticated copy of Constitution/ Bye laws of the Party
  • Duly authenticated copy of Registration of Party with election commission
  • Authority letter, on party letter head, from Party president/ Authorized signatory as per Bye-laws for opening of account mentioning address of the State Unit, Title of Account and operating instructions for authorized signatory with attestation of their signature and photograph.
  • Any one of the OVDs and PAN/ FORM60 of the Office bearers / Signatories and persons holding Power of Attorney, if any with his/her photograph in respect of the person holding an Attorney to transact on its behalf;

bob ADVANTAGE CURRENT ACCOUNT : Fees & charges

Minimum Balance Requirement:-

Individual / Non Individual
Rural / Semi-UrbanRs 2000/-
UrbanRs 5,000/-*
MetroRs 10,000/- *

* Quarterly Average Balance


Charges for not maintaining minimum balance:-

Metro

Quarterly Average Balance (QAB) of Rs 10000/- is not maintainedRs 800/- per quarter

Urban:

Quarterly Average Balance (QAB) of Rs 5000/- is not maintainedRs 600/- per quarter

Rural/Semi Urban

Quarterly Average Balance (QAB) of Rs 2000/- is not maintainedRs 400/- per quarter

Cash Handling Charges-FOR CASH DEPOSIT:-
  • Applicable to Base Branch, Local Non-Base Branches:- Beyond Cash Deposit of Rs. 50000/- Or above 10 packets i.e. 1000 pieces of notes of any denominations taken together, whichever is higher charges will be levied as under – Above 10 packets – i.e. 1000 pieces of notes charges will be levied @ Rs.10/- per packet or a part thereof. (Min. Rs.10/- Maxi. Rs.10000/- (per day per Txn.)
  • Applicable to Outstation Branches:- Chargeable in case of cash deposit in excess of Rs 25000/- per day per account at Rs 2.50 per thousand or part thereof at outstation branch.
  • At Cash Machines: Cash deposit with Debit Card is allowed up to Rs.2,00,000/- (2 Lacs) per day where PAN is registered and Rs.49,999/- where PAN is not be registered in account. Card less transaction (by feeding account number) is allowed up to Rs. 20,000/- per day. Fake note, Suspicious Note is impounded and receipt will be given to the customer. Torne/Mutilated/Taped notes are not accepted by this machine.

Debit Card
  • VISA Vyapaar Business Debit Card will be issued. Debit card will be issued free for the 1st year and thereafter charges will be levied.

Cheque Book:
  • First cheque book of 50 leaves free.
  • Subsequent cheque charge @ Rs.5/- per leaf.
  • Quarterly Average balance of Rs.2 lakhs and above : no charges

Transfer/ Closure of Accounts:

A/c can be transferred/ closed at the written request of customers only. New cheque book will be issued to him. No charges required for transfer of an account. For closure of Current account within one year @ Rs.800/-+GST will be deducted.


Withdrawal(s)

Withdrawal allowed by cheque only. No upper limit for cash withdrawing at base branch. At local non-base branch and outstation branches Cash withdrawal up to Rs.25,000/- per day per account is free of charges thereafter service charges is levied. Third party cash payment at non-base branches is not allowed.


Charges for Standing Instructions:

Within the Bank - Not chargeable Rs 50/- per transaction plus applicable remittance charges in case of credits for outside the branch whether in same city or other cities i. e in other Branches / Offices such as LIC etc. plus actual postage charges.

bob ADVANTAGE CURRENT ACCOUNT : Most Important Terms and Conditions (MITC)

Interest Payment

No interest is payable in current account except in case of deceased account where interest @ of saving banks is paid from the date of death of the account holder till the settlement of the account.


Transactions

All genuine purpose oriented transactions are allowed. There is no restriction on number of transactions in the current account subject to ledger folio charges.


Transfer transaction

In case of transfer transaction one entry i.e. either debit or credit entry of the transaction must be in the branch transferring the fund.


Unclaimed Deposit

Account remaining Dormant for 10 years are treated as unclaimed deposits and are transferred to RBI.


Disclosure of information
  • The Bank may disclose information about customer’s account, if required and permitted by law, rule or regulations, or at the request of any public or regulatory authority or if such disclosure is required for the purpose of preventing frauds, or in public interest, without specific consent of the account holder(s).
  • All relevant policies including code of commitments to customers and grievance redressal policy are available at the branches.
  • MITCs OF ATM/DEBIT Card/ Mobile Banking/Net Banking are available separately.
  • The Bank will notify, 30 days in advance, any change in terms and conditions/ Fees and charges on its website.
  • Deposits along with interest kept in different branches of our Bank is insured by Deposit Insurance & Credit Guarantee Corporation (DICGC) maximum upto ₹ 5,00,000 (₹ 5 lakh).

Note:

Frequently Asked Questions (FAQs)

  • What is BOB's advantage current account?

    BOB advantage Current account is a basic current account and ideal for firms, companies, institutions, HUF, individuals, etc., who need banking facility more frequently. This is one of the most basic and flexible deposit options, allowing transactions without limiting the numbers.

    Other benefits

    Monthly statement –free once a month.

    Cheque Book – First cheque book of 50 leaves free. Subsequent cheque charge @5 per leaf. Quarterly Average balance of `2 lakhs and above: no charges.

     A nomination facility is available. etc

  • What is the minimum balance in the Bank of BOB advantage current account?

    The minimum quarterly average balance is listed below:

    • 2,000 in Semi-urban or Rural branches.
    • 5,000 in Urban branches.
    •     10,000 in Metro branches
  • What are the current account advantages and disadvantages?

    The advantages of current accounts are as follows –

    • Allows for prompt business transactions
    • No limit on withdrawals
    • No limit on deposits in the base branch
    • Enables businessmen to make direct payments using cheques, demand drafts, or pay orders
    • Provides overdraft facility
    • Provides internet banking and mobile banking facilities

    The disadvantages of current account are as follows –

    • No interest on deposits
    • High cost of bank services
    • Limit free cheque books and free demand drafts
    • Charges on cash deposits  
  • What are the benefits of opening a BOB advantage current account?

    A few of the benefits of opening a Baroda advantage current account are as follows -  

    • Monthly statement –free once a month.
    • Cheque book – first cheque book of 50 leaves free. Subsequent cheque charge @5 per leaf. The quarterly average balance of `2 lakhs and above: no charges.
    • Nomination facility is available.
    • Change of authorized signatory-allowed 250/- per occasion
    • Issuance of balance certificate can be issued.
  • What documents are required to open an advantage current account in BoB?

    The basic KYC documents are required for opening a current account in BoB as per the entity. Refer to “Documents Required” tab for more details.  

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