Baroda Platinum Saving Bank Account

Baroda Platinum Saving Bank Account

Baroda Platinum Saving Bank Account

  • Free Personalized VISA Platinum Chip Debit Card with following feature:-
  • Cash withdrawal limit up to Rs 1,00,000/- per day (ATM)
  • Purchase limit of Rs 2,00,000/- per day (POS)
  • Free unlimited NEFT/RTGS/IMPS through Internet Banking/Mobile Banking/Branch Channel.
  • Unlimited cheque-books for routine requirement
  • Sweep facility available on request over & above Rs.2,00,000/- in multiple of Rs.10000/- for 181 days. Reverse sweep will happen in multiple of Rs.10000/-
  • No charges for cash deposit in base branch.
  • No charges for cash deposit upto Rs 1.00 lac per day in non-base branch.
  • 50% waiver on issuance charges of gift and travel card.
  • 10% discount on annual locker charges.
  • Free SMS/E-mails alerts.
  • No ledger folio charges.
  • Waiver of 100% in DEMAT AMC charges, discount on charges from subsequent years in case account is operated with min QAB of Rs 1.00 lacs in preceding year.

Transactions of saving oriented nature are permitted. Commercial transactions are non- allowable transactions. If non allowable transactions are noticed then Bank may close the account with prior notice/intimation citing reasons thereof

Cash Deposit

  • At Base/Local non-base branch: Any amount free of charge.
  • At Out-station branches: Up to Rs. 1,00,00/- per day per account free of charge, thereafter chargeable @ Rs. 2.50 plus service tax per thousand or part thereof.
    • Cash deposit with debit card up to Rs.2,00,000/- (2 Lacs) per day where PAN is registered and Rs.49,999/- where PAN is not registered in account.
    • Card less transaction (by feeding account number) up to Rs. 20,000/- per day.
    • Fake note, Suspicious Note is impounded and receipt is given to the customer. Torne/Mutilated/Taped notes are not accepted by these machines.

Cash Withdrawal:

  • At Base/Local Non Base branches and outstation branches – No Charge.
  • Maximum Rs. 50000/- per day withdrawal allowed to A/c holder only at outstation branches.
  • Third party cash payment at local non-base branches and outstation branches is totally restricted.

Interest calculation and frequency

  • Interest is calculated on daily product basis and credited to accounts quarterly. For this purpose Bank’s quarters are May-July, August to October, November to January and February to April. Interest is credited to the account within 15 days of end of quarter. However, Value date effect as of 1st day of the month is given while crediting interest.

Withdrawal(s) & use of Withdrawal Form (Slip)

  • Withdrawals will be allowed either by withdrawal forms or by cheques. Payment against withdrawal form along with passbook is allowed for self only with per day limit of Rs. 25000/- (Minimum Rs. 25/- in Rural/SU and Rs. 50/- in Metro/Urban)

Passbook and statement of account

  • Free Pass Book
  • Rs. 100/-- per duplicate Pass Book / Statement with latest balance only. Charges for previous entries (if required) Rs. 75/- per ledger page (25 entries per page) or part thereof.

Transaction Charges

  • No transaction charges, subject to maintenance of QAB.

Cheque Book Charges

  • Unlimited cheque books are free in a financial year, subject to maintenance of QAB

Registration and execution of Standing instructions

  • A) No charge within the same branch
    B) Rs. 50/- for any other branch within the bank.
    C) Rs. 100/- for outside the Bank.
  • Rs. 100/- per occasion will be levied for Standing instruction failure because of insufficient funds.

Transfer of account/ scheme

  • Upon submission of application along with pass book and unused cheque leaves the account can be transferred to another branch/ scheme free of charge.

Closure of account and charges

  • All the authorized signatories of the account will give in writing his/her/their intention to close the account. The relative passbook, Debit Card and the unused cheque leaves should be surrendered along with the letter requesting closure.
    In case of pre-mature closure of the account no charges will be levied if the account is closed within 14 days of first customer induced credit into the account. However, charges @ Rs.1000/- plus GST will be levied if account is closed beyond 14 days but within 1 year of the first customer induced transaction. In case of death of account holder no charges will be levied.

Dormant/ Inoperative Account

  • Account becomes inoperative/dormant if there are no customer induced transactions in Savings account for over a period of two years. Interest is continued to be applied in all such Savings Bank accounts. No charges are levied for in-operation of accounts.
  • Activation/Closure of Dormant/Inoperative accounts will be done after submission of necessary KYC documents, photo, fresh specimen signature, subject to satisfaction of the Bank.
  • All Accounts which have remained inoperative/dormant for a period of 10 years and above will be treated as unclaimed deposits and will be transferred to RBI. Upon receipt of the request from the customer such deposits will be returned subject to conditions.

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).

SMS Alerts and Charges

  • SMS alerts are free of charges , subject to maintenance of QAB
  • 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 in Application Form.: Available separately.
  • The Bank will notify, 30 days in advance, any change in terms and conditions/ Fees and charges on its website.
  • All deposits to the extent of Rs.1/- lac per depositor of our bank (except Deposits of Central/State/Foreign Governments and commercial banks) are covered under Deposit Insurance & Credit Guarantee Corporation (DICGC).
  • Minimum Quarterly average balance requirement: Metro/Urban/S. Urban/Rural –Rs.1,00,000/-
  • Charges for not maintenance of minimum balance: Metro/Urban/S. Urban/RuralRs.1000/- + GST per quarter.If the balance remains below the benchmark level continuously for –3- months, Bank will transfer this account to normal savings bank account and shall recover the charges. All the facilities of Platinum Saving Bank account will be withdraw
  • Computation:Minimum QAB requirement is calculated on the basis of summation of closing balance of number of days divided by number of days. For purpose of arriving at Quarterly Average Balance/Minimum Balance charges, the period of quarters are considered as 16th Mar to 15th Jun, 16th Jun to 15th Sep, 16th Sep to 15th Dec and 16th Dec to 15th Mar of a particular year.
  • Nomination facility available.
  • Immediate Credit of outstation cheques upto Rs. 50,000/- as per Bank norms.

Debit card and Charges

  • Free VISA Platinum Debit card, subject to maintenance of QAB
  • ATM Transactions at other bank ATM (India) – free upto 3 transactions in a month both Financial and Non- Financial) at 6 centres viz, Mumbai, Delhi, Kolkata, Chennai, Bengaluru, Hyderabad and thereafter Rs. 20/- for every transaction will be charged. For any other centre (except these 6 centres) upto 5 transactions (both Financial and Non -Financial) are free in a month thereafter Rs. 20/- for every transaction will be charged.
  • Card Replacement charges (in India) - Rs. 200/- per replacement.
  • Pin Generation - Rs. 150/- per regeneration.

Auto / Reverse Sweep:

  • Sweep facility available on request only over & above Rs.2,00,000/- in multiple of Rs.10000/- i.e. first Sweep out for Rs.10,000 will happen only when account balance reaches Rs.2,10,000. The duration of Fixed Deposit will be 181 days and in case of requirement of funds in SB A/c, auto reverse sweep in multiple of Rs.10,000/- on LIFO pattern (last in first out).
  • However, for premature withdrawals of all deposits, interest will be paid one per cent less than the rate which is applicable at the time of placing the deposit, for the period for which the deposit has actually run.

Cheque Return:

Inward Return: per instrument charges.

  • Upto Rs.1 Lac – Rs. 125/-
  • Above Rs. 1 Lac to less than Rs. 1 Crore: - Rs. 250/-
  • Above Rs. 1 Crore – Rs. 500/-

Outward Return : per instrument charges

  • Upto Rs.1 Lac – Rs. 250/-
  • Above Rs. 1 Lac to less than Rs. 1 Crore: - Rs. 500/-
  • Above Rs. 1 Crore – Rs. 750/-
    • In case bank remains out of funds: Actual interest @ 7.5 % over Base rate is to be charged extra.
    • Cheque returned due to technical reason – not at the fault of customer – No Charges.
    • Charges for Copy of original of cheque (paid by the Bank – a) Rs.100 upto 6 months old record. b) Rest - Rs. 250/-

Rules for Transfer/ inter-sol transfer/clearing transactions and charges

  • Transfer Transaction at base branch  Allowed freely without any limit 
  • Transfer Transaction at Non-base branch (local as well as outstation)
    Normally allowed only at a branch where either drawer or payee maintains account. However, for genuine transactions, Branch Head is authorized to allow transactions at non-base branch (where neither drawer nor payee maintains account) on case to case basis subject to certain conditions.
    There are no charges for Inter-sol transfer transactions.
  • Clearing Transactions: There is no restriction for clearing transactions.

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