Baroda Startup Current Account

• No charges for NEFT/ RTGS/IMPS transactions up to 2 years.
• Auto and Reverse Sweep facility enabling Current account holder to earn interest.
• Monthly statements: Two times in a month free of charge.
• Balance Certificate: Free.
• Folio Charges: Free.
• Signature verification: Free.
• Cheque book: 200 cheque leaves are free per month upto 2 years.
• Free Baroda Connect (Internet Banking)
• Value added SMS Alert Facility: Allowed.
• POS, Bharat QR Code & BHIM QR Code: 50% of POS (one machine) monthly charges.
• 50% discount on issuance of Demand Draft / Bankers cheque.
• Demat Services: Waiver of 25% of annual custody charges to partners and directors.
• Processing charges: 100% waiver in case Car Loans are in the name of Partners and directors of the Company.
• Collection of outstation cheques by sending cheques physically through post - 50% of Normal collection charges.
• Credit Card: Complimentary credit card (free for first year) limited to two partners or two directors with free personal accidental insurance facility.
• 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.

• Dedicated Relationship Manager.
• Hand-crafted startup kit with exclusive offerings for select customers.
• Waiver of non-maintenance charges upto 2 years of account opening.
• Free NEFT/RTGS/IMPS transactions upto 2 years of account opening.
• Business Debit card with multiple offers.
• Auto sweep facility enabling current account holders to earn attractive returns.

• A private limited company (as defined in the Companies Act, 2013) or a partnership firm (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2008) and
• The entity should be 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 and
• Turnover as per last ABS should not be more than Rs. 25.00 Crore and
• The entity should not be more than 5 years old.

• Non- interest bearing account

Transactions

• All genuine purpose oriented transactions are allowed. There is no restriction on number of transactions in the current account

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

Minimum Balance Requirement

• After 2 years from date of opening of current account, minimum QAB to be maintained is Rs.75,000/-. Service Charge of Rs 1000/-+ GST for Non-maintenance of QAB.

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.

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.

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.

Statement of Account

• Statement of Account is provided twice a month free of cost.

Transfer/ Closure of Accounts

• A/c cannot be transferred from one Branch to another Branch. For closure of Current account within one year @ Rs. 600/-+ GST will be deducted.

Unclaimed Deposit

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

NEFT/RTGS/IMPS (Outward and Inward)

• Free for 1st 2 years from the date of account opening, thereafter 50% of applicable charges

Sweep facility

• The threshold limit in this account is Rs. 5,00,000/- which can be increased in multiples of Rs.1000/- at the choice of the customer.
• First Sweep out for Rs. 25,000 will take place only when account balance reaches Rs. 5,25,000/- for 30 days by default though it may change at customer’s request between 15 to 45 days.
• Sweep out amount of Rs. 25,000/- can be increased in multiples of Rs. 25,000/-
• Sweep will take place on every Monday. In case of holiday, sweep will take place on the next working day.

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

Note

• *All Charges are exclusive of Taxes.
• *All charges are subject to changes from time to time.
• *For latest Service Charges please visit our website https://www.bankofbaroda.in/