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Give your startup a strong foundation with Baroda Startup Current Account.

Baroda Startup Current Account

  • Benefits
  • Features
  • Eligibility
  • Interest Rates and Charges
  • Documentation
  • Most Important Terms and Conditions (MITC)
  • 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
  • As per KYC guidelines issued by the Bank.
  • Any one of
    1. Recommendation letter from Incubator established in a post-graduate college in
      India/Incubator recognized by Government of India/Incubator funded by Government of India or State Government or
    2. Evidence of being funded by recognized funds or
    3. Certificate of recognition from DIPP/DPIIT
  • 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 -


  • 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 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

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अक्सर पूछे जाने वाले प्रश्न

  • Who can open a current account?

    An individual, proprietorship and partnership firm, limited company and even a limited liability partnership can open a current account. For specific eligibility criteria on current account opening, contact the nearest branch.

  • What is the minimum balance needed for a current account?

    One of the benefits of a current account is the low minimum average quarterly balance. However, this amount varies based on the type of current account you hold. Ask your relationship manager or bank executive for more details.

  • What are the benefits of a current account ?

    With a current account, you can do a large number of transactions in a single day. You also access several banking services free of charge, depending on the type of current account. This includes applying for overdraft facilities on your current account.

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