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Baroda SB Self Help Group

Baroda SB Self Help Group

  • Available in two variants
    • SB Self Help Group General
    • SB Self Help Group – Women empowerment
  • Minimum Balance Requirement:Rs.1000/-
  • 30 cheque leaves will be free in a financial year
  • OD facility available
    • Up to Rs.3.00 Lacs ROI is One year MCLR+ Strategic premium+ 0.50%
    • For limit above Rs.3.00 Lacs ROI is One year MCLR+ Strategic premium+ 1.00%
Sr. No. Parameter Details of BARODA SB SELF HELP GROUP
1 Eligibility Self Help Groups including Women SHGs subject to submission of resolution and list of members of the SHG.
2 Mode of Operation Jointly as per resolution.
3 Minimum balance Rs.1,000/- (QAB)
4 Maximum Amount There is no ceiling on the amount deposited / held in the account.
5 Non- maintenance charges Branch Category With Cheque Book Without Cheque Book
Metro/Urban 1000 500
Rural /Semi Urban 500 0
6 Debit Card Variant & Annual Fee Not Applicable
7 Cheque book Non -Personalized Cheques – (30 leaves per calendar year not chargeable) Beyond that Rs.3.00 per leaf. *Total 30 leaves will be free for financial year for personalized and non-personalized cheque book
8 Value Added SMS alert facility Rs.10 + GST charged quarterly
9 Auto sweep facility Not Available
10 Overdraft Facility Available
  • Limit up to Rs.3.00 Lacs: As applicable to Agriculture/Other Priority Sector Advances, as the case may be, presently One year MCLR+ Strategic premium+ 0.50%
  • Limit above Rs.3.00 Lacs: One year MCLR+ Strategic premium+ 1.00%
11 Internet Banking/Mobile Banking Not Available
12 Collection of outstation cheque Available
13 Nomination facility Not Applicable
14 Convertibility of existing accounts Not Permissible
15 Pre- closure charges
  • If an account is closed after 14 days or before 1 year of first customer induced credit transaction in the account, a service charge of Rs.200/- plus GST will be levied.
  • SHG account is to be closed on receipt of written request with resolution.
  • Staff to verify that there is no outstanding amount in the name of SHG.

Most Important Terms & Conditions (MITC) of Baroda Self Help Group

Interest calculation and frequency

Interest is calculated on daily product basis and credited to accounts quarterly. For this purpose Bank’s quarters are April to June, July to September, October to December and January to March. 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.

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, and 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).
  • 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 Forms 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 Rs 5,00,000 ( Rs 5 lakh).

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