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Baroda Salary Privilege

A salary account that
equals as status

Privilege Salary Account

Eligibility & Benefits Baroda Salary-Privilege
Salary Band Net Monthly Salary credit more than 2.00 Lakh
Suitable For Top Management
Relationship Manager Relationship Managers available on call
Overdraft Facility Available immediately after first salary credit. Maximum- Rs.3.00 lacs.
Waiver in processing charges on retail loans 100 % waiver on processing charges for Housing Loan, Auto Loan, Education Loan, Mortgage Loans and Personal Loan
Credit card Life time free Baroda Premier Credit Card with 5x reward points
Discount on Depository Services / Demat AMC Waiver of 100% in charges
Insurance Accidental Death Insurance Cover
Lockers Discounted rate on locker rentals.
Other Benefits Free Alerts.

Complimentary Zero Balance Account for spouse.

Sweep facility available on specific request

75% waiver on issuance charges for Gift/Travel card

Baroda Rewardz Program.
  • Inbuilt Overdraft facility, limits ranging from Rs 50,000.00 to Rs 3.00 lacs according to salary band (application form and guidelines for granting overdraft enclosed)
  • Discounts on locker rentals, Demat AMC, Debit card issuance and renewal fee and issuance fee of prepaid cards.
  • Free remittance facility – RTGS/NEFT/IMPS
  • Waiver on processing charges on retail loans.
  • Discounts on issuance of DD/BC
  • Different variants of debit cards available specific to each scheme with issuance fee waived for first year
  • Lifetime free credit cards (Easy/Select/Premier) according to salary bands. (Branch to super scribe the salary scheme on Credit Card Application form for customer to avail benefit of fee waiver)
  • Free insurance facility linked to credit card.
  • RM on call for privilege and premium segment.


All Customers in Age Group of 18-70 are eligible to avail the Life Insurance benefits Any resident individual who has attained the age of 18 years and has not completed the age of 70 yrs can avail the facility of Life Insurance Cover from “IndiaFirst Life Insurance Co. Ltd” (IFLIC) upto an amount of Rs.5.00 lac after payment of required premium and submission of simple Health Declaration Form (DOGH)

Sum Assured

The Sum assured starts at a minimum of Rs.1.00 lac and goes up to Rs.5.00 lacs (in multiples of Rs. 1.00 lac).

Under the Scheme, Only one insurance cover per person shall be allowed.


Period of Insurance is one year from 01st January to 31St December every year and is annually renewable. In case of those accounts which are opened in due course in the middle of the year, premium shall be paid on prorata basis only for the year in which the insurance is subscribed as per details mentioned below:

Premium Table

Insurance premium chart - 1 Lac
Age in Years
18-35 36-50 51-59 60-70
Month of joining the Scheme Premium ( Inclusive of GST )
with effect from 01.01.2020
Coverage in Months
Jan 138 276 768 1,975 12
Feb-20 127 253 704 1,811 11
Mar-20 115 230 640 1,646 10
Apr-20 104 207 576 1,482 9
May-20 92 184 512 1,317 8
Jun-20 81 161 448 1,153 7
Jul-20 69 138 384 988 6
Aug-20 58 115 320 823 5
Sep-20 46 92 256 659 4
Oct-20 35 69 192 494 3
Nov-20 23 46 128 330 2
Dec-20 12 23 64 165 1

From second year onwards the premium for the full year will be auto debited at central level in the month of January.

Insurance cover shall be available only till the Savings Account is active and Premium amount once collected shall not be refunded even if the account is closed.

Baroda Salary Privilege (SB177 ) - Net monthly salary more than Rs 2.00 lacs

DICGC Insurance Cover

Deposits along with interest kept in different branches of our Bank is insured by Deposit Insurance & Credit Guarantee Corporation (DICGC) maximum upto Rs. 5,00,000( Rs 5 lakh)

Salary Band

Net Monthly Salary credit more than Rs 2.00 lakh


Age of the applicant should be 18 years and above

Suitable for

Top Management

KYC Norms

Aadhar is must as KYC to open account under the scheme.One proof of Address and Proof of Identity is required.

Minimum Deposit Amount

Allowed to open with zero balance subject to immediate salary credit in the following month

Minimum Quarterly Average Balance QAB

Zero balance account

Charges for Non-maintenance of QAB

Not applicable as account type is zero balance account

Cheque Books

Free 150 cheque leaves per year, thereafter Rs. 5.00 per leaf.

Interest Payable in SB

3.25% for balances upto Rs 50.00 lacs and 3.75% for balances above 50.00 lacs.


NEFT/RTGS free for online & through branch

Inbuilt- Overdraft Facility

  • Available immediately after first salary credit.
  • Amount of overdraft equivalent to net credit of first salary rounded off to nearest figure in thousands.
  • Maximum- Rs.3.00 lacs.
  • Clean Overdraft.
  • Overdraft is to be adjusted in full once in 60 days of availment of the same.

Demand Draft/Banker's Cheque

Six DD/BC free per quarterfor personal use.Maximum Amount Rs 500000/-

Internet Banking/Mobile Banking


Debit Card

Free VISA Platinum Debit Card for life. Daily Cash Withdrawal limit Rs 100000.00 and Online Purchase limit is Rs 200000.00, Attractive offers linked to Debit card card .

ATM Withdrawals

  • Free unlimited transactions at Bank of Baroda ATMs
  • Other Bank ATM- 5 free transactions per calendar month.

Waiver in Processing Charges on Retail Loans

  • 100 % waiver on processing charges for Housing Loan, Auto Loan, Education Loan, Mortgage Loans and Personal Loan
  • Subject to recovery of minimum Rs. 7500.00 per property * to be mortgaged as out of pocket expenses (for legal, valuation etc).

* Applicable on mortgage based retail loans

Concession in Rate of Interest for Auto Loans

For the employees who has availed Home Loan, a concession of 0.25% in applicable ROI of Auto Loan

Discount on Depository Services/ Demat AMC

Waiver of 100% in charges,

Credit Card

Free Premier credit card subject to eligibility critirieon of minimum income of Rs 60000/month and signing of auto debit mandate for debit of minimum due amount on card from salary account.

*Insurance Only for Primaary Card Holder* ( Insurance linked to credit card)

Compementary Air Accidental Insurance of Rs 50.00 lac and other accidental insurance cover of Rs 10.00 lacs .


20% discount on locker rentals.

Other Benefits

  • Free Alerts.
  • Sweep facility availaible on specific request.
  • 75% waiver on issuance charges for Gift/Travel card
  • Free M connect
  • Baroda Rewardz Program.

Relationship Manager

RM with wealth management advisory services.

A/c Opening

Fully Digitised

A/c Activation


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