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Open a Bank of Baroda Current Account.

  • Bank Of Baroda with Spice Agile Platform of MCA

    An instant current account opened and allotted at the time of incorporation of companies.

  • Baroda Start-up Current Account

    A company working towards innovation, development, or improvement of products or processes or services, or having a scalable business model with a high potential of employment generation or wealth creation can hold this current account.

  • Baroda Scale-Up Current Account

    For a company with the last year turnover of more than Rs. 25 crores and working towards innovation, development, or improvement of products or processes or services, or having a scalable business model with a high potential.

  • bob GOLD Current Account

    Ideal for customers with Small and Medium business, this Current Account offers a number of free Services and Benefits

    • Free 10 Sound box QR and free 2 MPOS/POS
    • Sweep Facility Available and Free NEFT/RTGS/UPI
    • SMS Alert/Email/Monthly statement Free and Collateral Free Overdraft up to Rs.25Lakhs
  • bob DIAMOND Current Account

    Ideal for Elite Business man, E-Commerce Company and Large Traders, this Current Account offers a number of free Services and Benefits.

    • Free 50 Sound box QR and free 10 MPOS/POS
    • Sweep facility available and Free NEFT/RTGS/UPI
    • 100% discount in Retail Loan Processing Charges, Collateral Free Overdraft up to Rs.25Lakhs and SMS Alert/Email/Monthly statement Free
  • bob PLATINUM Current Account

    Ideal for customers with Small and Medium Business, this Current Account offers a number of free services and benefits

    • Free 20 Sound box QR and free 4 MPOS/POS
    • 50% discount in Retail Loan Processing Charges and Free NEFT/RTGS/UPI
    • Sweep facility available and collateral free overdraft up to Rs.25Lakhs
  • bob RHODIUM Current Account

    Ideal for customers with Medium and Large Business, this Current Account offers a number of free Services and Benefits

    • Free 30 Sound box QR and Free 8 MPOS/POS
    • Free NEFT/RTGS/UPI and free Cash withdrawal up to 50 transaction/month
    • Sweep Facility Available and 75% discount in Retail Loan Processing Charges
  • bob LITE Current Account

    Zero balance Current Account with no Minimum balance Requirement

    • Free one Sound box QR and free 50 Cheque leaves
    • Zero monthly average balance and Collateral Free Overdraft up to Rs.25Lakhs
    • VISA Vyapaar DI Debit Card and BCMS,IPG,POS,BHIM facilities available
  • bob SMART Current Account

    Current Account Satisfying Digital requirements

    • Free Two Sound box QR and free 50 Cheque leaves
    • Sweep facility available and 10% discount in Retail Loan Processing Charges
    • NEFT/RTGS/UPI Online Free and Collateral Free Overdraft up to Rs.25Lakhs
  • bob WOMEN POWER Current Account

    Our women current account is a continuous effort to support Women Empowerment and mahila shakti!

    • Free Two Sound box QR and free QR Code Generation
    • 50 Cheque leaves Free and Sweep Facility Available
    • NEFT/RTGS/UPI Online Free and Collateral Free Overdraft up to Rs.25Lakhs
  • bob Family Current Accounts Segment

    Now connect your Family Members Accounts under One Family to avail maximum benefits from your relationship.

    • This segment gives an opportunity to all connected accounts to enjoy benefit such as concession in manual NEFT/RTGS charges,DD/PO charges,Locker Rent Charges and Demat AMC.
    • No need to Maintain Minimum Balance in every account of the Family Members plus get attractive benefits for your family accounts.
  • bob ADVANTAGE CURRENT ACCOUNT

    A current account that offers a wide range of benefits to both, rural and urban customers, such as free mobile and internet banking and a low minimum quarterly average balance.

    • 50 free cheque leaves and BCMS,IPG,POS,BHIM facilities available
    • Free One Sound box QR and free Credit Card
    • Immediate credit of outstation cheques up to Rs. 20,000 and Collateral Free Overdraft up to Rs.25Lakhs
  • bob PREMIUM CURRENT ACCOUNT

    A current account that includes unlimited chequebooks, free signature verification, free account statements twice a month, and discounts on demand draft and banker’s cheque facilities.

    • Auto and reverse sweep facility enabling Current Account holder to earn interest
    • Free Unlimited cheque leaves and Free SMS Alert/Email and Standing Instructions
    • 50% waiver in charges for NEFT/RTGS/UPI and 25% discount in Retail Loan Processing Charges
  • bob SUPREME CURRENT ACCOUNT

    The key features of this current account include unlimited chequebooks, free signature verification and 100% waiver in case car loans are in the name of proprietor, firm and company.

    • Auto and reverse sweep facility enabling Current Account holder to earn interest
    • Free unlimited cheque leaves and free NEFT/RTGS/UPI
    • Free 5 Sound box QR and free 1 MPOS/POS
  • bob RERA Current Account Scheme

    Open Collection Account, Project Account & Operative Account with simple documentation

    • No minimum balance condition and earn Interest in CA (FFD)
    • Cash withdrawal and Cash Deposit allowed and Compliant with RERA guidelines*
    • BCMS, Doorstep Banking facilities available
  • bob Start-up Current Account

    A company working towards innovation, development, or improvement of products or processes or services, or having a scalable business model with a high potential of employment generation or wealth creation can hold this current account.

    • Sweep Facility Available and 200 Free cheque leaves
    • 100% discount in Retail Loan Processing Charges and free Credit Card
    • NEFT/RTGS/IMPS/UPI free for 1st and 2nd year from the date of account opening
  • bob Scale-Up Current Account

    For a company with the last year turnover of more than Rs. 25 crores and working towards innovation, development, or improvement of products or processes or services, or having a scalable business model with a high potential.

    • Sweep Facility Available and free unlimited cheque leaves
    • 100% discount in Retail Loan Processing Charges
    • Free Credit Card and Free NEFT/RTGS/UPI
  • bob Current Account for Other Banks

    Any scheduled commercial bank which is included in the second schedule of RBI Act 1934 can have this current account with us. Enjoy its many benefits as a current account holder in Bank of Baroda.

    • Minimum Balance: Rs. 5000 and Maximum Balance: No limit
    • POS, Bharat QR Code & Bhim QR Code available
    • Immediate credit of outstation cheque upto ₹ 20,000/- and First cheque Book of 50 leaves free
  • Salary And Pension Solutions For Central State Government Employees

    bob Govt Bodies Current Account

    Current Account designed for Govt. Bodies with inbuilt Free services such as Ledger Folio charges, Cash Handling charges, Collection of Outstation Cheques charges, SMS Alerts charges and Sweep Facility on Request.

    • Minimum QAB balance Nil and Sweep Facility Available
    • NEFT / RTGS / IMPS through Branch/Internet Banking / Cheque book / Ledger Folio/ SMS & Email Alerts - Free
    • Cash deposit - Free in Base Branch and BCMS, IPG, POS, QR code facilities available
  • bob Current Account for LIC/Other Insurance

    A current account for life and general Insurance companies. Apart from the many benefits, this current account holds, key features of this account are Internet Payment Gateway (IPG) facility available and immediate credit of outstation cheques.

    • Minimum Balance: Nil and Maximum Balance: No limit
    • Immediate credit of outstation cheque upto ₹ 20,000/-
    • First cheque Book of 50 leaves free and SMS Alerts / Email Alerts, Standing Instruction (within Bank), BCMS, IPG facility available

Frequently Asked Questions (FAQs)

  • What are the criteria for micro & small Enterprises?

    Gazette notification S.O. 2119(E) dated 26.06.2020

    1. Classification of enterprises.-An enterprise shall be classified as a micro, small or medium enterprise on the basis of the following criteria, namely:--

      (i) a micro enterprise, where the investment in plant and machinery or equipment does not exceed one crore rupees and turnover does not exceed five crore rupees;

      (ii) a small enterprise, where the investment in plant and machinery or equipment does not exceed ten crore rupees and turnover does not exceed fifty crore rupees; and

      (iii) a medium enterprise, where the investment in plant and machinery or equipment does not exceed fifty crore rupees and turnover does not exceed two hundred and fifty crore rupees.

    2. Becoming a micro, small or medium enterprise.—

      (1) Any person who intends to establish a micro, small or medium enterprise may file Udyam Registration online in the Udyam Registration portal, based on self-declaration with no requirement to upload documents, papers, certificates or proof.

      (2) On registration, an enterprise (referred to as ―Udyam‖ in the Udyam Registration portal) will be assigned a permanent identity number to be known as ―Udyam Registration Number.

      (3) An e-certificate, namely, ―Udyam Registration Certificate‖ shall be issued on completion of the registration process./p>

    3. Composite criteria of investment and turnover for classification.--

      (1) A composite criterion of investment and turnover shall apply for classification of an enterprise as micro, small or medium.

      (2) If an enterprise crosses the ceiling limits specified for its present category in either of the two criteria of investment or turnover, it will cease to exist in that category and be placed in the next higher category but no enterprise shall be placed in the lower category unless it goes below the ceiling limits specified for its present category in both the criteria of investment as well as turnover.

      (3) All units with Goods and Services Tax Identification Number (GSTIN) listed against the same Permanent Account Number (PAN) shall be collectively treated as one enterprise and the turnover and investment figures for all of such entities shall be seen together and only the aggregate values will be considered for deciding the category as micro, small or medium enterprise.

    4. Calculation of investment in plant and machinery or equipment.--

      (1) The calculation of investment in plant and machinery or equipment will be linked to the Income Tax Return (ITR) of the previous years filed under the Income Tax Act, 1961.

      (2) In case of a new enterprise, where no prior ITR is available, the investment will be based on self-declaration of the promoter of the enterprise and such relaxation shall end after the 31st March of the financial year in which it files its first ITR.

      (3) The expression ―plant and machinery or equipment‖ of the enterprise, shall have the same meaning as assigned to the plant and machinery in the Income Tax Rules, 1962 framed under the Income Tax Act, 1961 and shall include all tangible assets (other than land and building, furniture and fittings).

      (4) The purchase (invoice) value of a plant and machinery or equipment, whether purchased first hand or second hand, shall be taken into account excluding Goods and Services Tax (GST), on self-disclosure basis, if the enterprise is a new one without any ITR.

      (5) The cost of certain items specified in the Explanation I to sub-section (1) of section 7 of the Act shall be excluded from the calculation of the amount of investment in plant and machinery.

    5. Calculation of turnover.--

      (1) Exports of goods or services or both, shall be excluded while calculating the turnover of any enterprise whether micro, small or medium, for the purposes of classification.

      (2) Information as regards turnover and exports turnover for an enterprise shall be linked to the Income Tax Act or the Central Goods and Services Act (CGST Act) and the GSTIN.

      (3) The turnover related figures of such enterprise which do not have PAN will be considered on self-declaration basis for a period up to 31st March, 2021 and thereafter, PAN and GSTIN shall be mandatory.

      (4) The exemption from the requirement of having GSTIN shall be as per the provisions of the Central Goods and Services Tax Act, 2017 (12 of 2017). [This paragraph(4) is an amendment dt 05.03.2021].

    6. Registration process.—

      (1) The form for registration shall be as provided in the Udyam Registration portal.

      (2) There will be no fee for filing Udyam Registration.

      (3) Aadhaar number shall be required for Udyam Registration.

      (4) The Aadhaar number shall be of the proprietor in the case of a proprietorship firm, of the managing partner in the case of a partnership firm and of a karta in the case of a Hindu Undivided Family (HUF).

      (5) In case of a Company or a Limited Liability Partnership or a Cooperative Society or a Society or a Trust, the organisation or its authorised signatory shall provide its GSTIN and PAN along with its Aadhaar number.

      (6) In case an enterprise is duly registered as an Udyam with PAN, any deficiency of information for previous years when it did not have PAN shall be filled up on self-declaration basis.

      (7) No enterprise shall file more than one Udyam Registration: Provided that any number of activities including manufacturing or service or both may be specified or added in one Udyam Registration.

      (8) Whoever intentionally misrepresents or attempts to suppress the self-declared facts and figures appearing in the Udyam Registration or updation process shall be liable to such penalty as specified under section 27 of the Act.

      (9) In case of any proprietorship enterprise not registered under any Act or rules of the Central Government or the State Government, the proprietor may use his or her PAN for registration of the enterprise in the Udyam Registration portal and for all other types of enterprises PAN shall be mandatory [This paragraph(9) is an amendment dt 05.03.2021].

    7. Registration of existing enterprises.---

      (1) All existing enterprises registered under EM–Part-II or UAM shall register again on the Udyam Registration portal on or after the 1st day of July, 2020.

      (2) All enterprises registered till 30th June, 2020, shall be re-classified in accordance with this notification.

      (3) The existing enterprises registered prior to 30th June, 2020, shall continue to be valid only for a period up to the 31stday of March, 2021 31stday of December, 2021 [Extension of date from March to December is through Amendment dated 16.06.2021]

      (4) An enterprise registered with any other organisation under the Ministry of Micro, Small and Medium Enterprises shall register itself under Udyam Registration.

    8. Updation of information and transition period in classification.--

      (1) An enterprise having Udyam Registration Number shall update its information online in the Udyam Registration portal, including the details of the ITR and the GST Return for the previous financial year and such other additional information as may be required, on selfdeclaration basis.

      (2) Failure to update the relevant information within the period specified in the online Udyam Registration portal will render the enterprise liable for suspension of its status.

      (3) Based on the information furnished or gathered from Government’s sources including ITR or GST return, the classification of the enterprise will be updated.

      (4) In case of graduation (from a lower to a higher category) or reverse-graduation (sliding down to lower category) of an enterprise, a communication will be sent to the enterprise about the change in the status.

      (5) In case of an upward change in terms of investment in plant and machinery or equipment or turnover or both, and consequent re-classification, an enterprise will maintain its prevailing status till expiry of one year from the close of the year of registration.

      (6) In case of reverse-graduation of an enterprise, whether as a result of re-classification or due to actual changes in investment in plant and machinery or equipment or turnover or both, and whether the enterprise is registered under the Act or not, the enterprise will continue in its present category till the closure of the financial year and it will be given the benefit of the changed status only with effect from 1st April of the financial year following the year in which such change took place.

    9. Facilitation and grievance redressal of enterprises.--

      (1) The Champions Control Rooms functioning in various institutions and offices of the Ministry of Micro, Small and Medium Enterprises including the Development Institutes (MSME-DI) shall act as Single Window Systems for facilitating the registration process and further handholding the micro, small and medium enterprises in all possible manner.

      (2) The District Industries Centres (DICs) will also act as Single Window facilitation Systems in their Districts.

      (3) Any person who is not able to file the Udyam Registration for any reason including for lack of Aadhaar number, may approach any of the above Single Window Systems for Udyam Registration purposes with his Aadhaar enrolment identity slip or copy of Aadhaar enrolment request or bank photo pass book or voter identity card or passport or driving licence and the Single Window Systems will facilitate the process including getting an Aadhaar number and thereafter in the further process of Udyam Registration.

      (4) In case of any discrepancy or complaint, the General Manager of the District Industries Centre of the concerned District shall undertake an enquiry for verification of the details of Udyam Registration submitted by the enterprise and thereafter forward the matter with necessary remarks to the Director or Commissioner or Industry Secretary concerned of the State Government who after issuing a notice to the enterprise and after giving an opportunity to present its case and based on the findings, may amend the details or recommend to the Ministry of Micro, Small or Medium Enterprises, Government of India, for cancellation of the Udyam Registration Certificate.

    Registration on Udyam Registration Portal

    The portal can be accessed at https://udyogaadhaar.gov.in/

    • An enterprise for the purpose of this process will be known as Udyam and its Registration Process will be known as 'Udyam Registration'
    • Registration Process is free, fully online, paperless and based on self-declaration.
    • No documents or proof are required to be uploaded for registering an MSME.
    • Only Adhaar Number will be enough for registration (To Log in to Portal).
    • The Aadhaar number shall be of the proprietor in the case of a proprietorship firm, of the managing partner in the case of a partnership firm and of a karta in the case of a Hindu Undivided Family (HUF).
    • In case of a Company or a Limited Liability Partnership or a Cooperative Society or a Society or a Trust, the organisation or its authorised signatory shall provide its GSTIN and PAN along with its Aadhaar number.
    • PAN & GST linked details on investment and turnover of enterprises will be taken automatically from Government data bases.
    • Having PAN & GST number is mandatory from 01.04.2021.
    • A permanent registration number will be given after registration.
    • After completion of the process of registration, a certificate will be issued online.
    • This certificate will have a dynamic QR Code from which the web page on our Portal and details about the enterprise can be accessed.
    • There will be no need for renewal of Registration.
    • Single window systems at Champions Control Rooms and at DICs will help the applicants in the process.
    • Those who have EM-II or UAM registration or any other registration issued by any authority under the Ministry of MSME, will have to re-register themselves.
    • No enterprise shall file more than one Udyam Registration. However, any number of activities including manufacturing or service or both may be specified or added in one Registration.
    • In case an enterprise is duly registered as an Udyam with PAN, any deficiency of information for previous years when it did not have PAN shall be filled up on self-declaration basis.
    • No enterprise shall file more than one Udyam Registration: Provided that any number of activities including manufacturing or service or both may be specified or added in one Udyam Registration.
    • Whoever intentionally misrepresents or attempts to suppress the self-declared facts and figures appearing in the Udyam Registration or updation process shall be liable to such penalty as specified under section 27 of the Act.
  • Whether term finance and working capital finance is sanctioned by the Bank?

    Yes. Both term finance and working capital facilities are sanctioned by the Bank.

  • Is collateral security required?

    No collaterals/third-party guarantee for loans under Micro & Small Enterprises segment which are covered under CGTMSE guarantee cover. For other accounts which are not covered under CGTMSE, the Bank may stipulate collaterals as per Bank’s guidelines.

  • Whether a borrower, who has availed certain credit facilities secured by collaterals and/or third party guarantees and is sanctioned distinct/separate credit facility without collateral security/third party guarantee, can be covered under CGTMSE scheme?

    Yes

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