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Baroda Mahila Shakti Saving Account

An account that Goes
beyond saving. It empowers.

Baroda Mahila Shakti Savings Account
with Multiple Benefits.

  • Higher Interest with Flexi-Fixed Deposit Facility
  • Attractive Offers on Beauty, Lifestyle, Groceries etc.
  • Complementary Zero Balance Accounts for Children
  • Personal Accidental Insurance
  • Concessional Interest Rate on Two Wheeler and Educational Loan
  • Attractive discounts on Locker Rentails
*T&C Apply

Woman- Mahila Shakti

Baroda Mahila Shakti Saving Account

  • 25% waiver on annual locker rental charges
  • 1st Year free RuPay Platinum Debit Card with 2 lacs accident insurance upto 70 years of age (subject to one successful financial or non-financial transaction at any channel in the last 45 days prior to the incident; subject to change as per NPCI guidelines)
  • Free SMS Alert facility for the 1st year
  • Discount of 0.25% on rate of interest on Two Wheeler Loan. 25 % waiver on processing charges for Auto Loan and Mortgage Loans. 100% waiver in Processing charges for Personal Loan.
  • Sweep facility is available on request only over & above Rs.50,000/- in multiple of Rs.10,000/- for 181 days & reverse sweep in multiple of Rs.1000/-
  • 25% waiver on issuance charges of Travel/ Gift Card
  • Waiver on 1st year DEMAT annual maintenance charges.
  • No Joining Fees on Bank of Baroda Easy Credit Card

Most Important Terms & Conditions (MITC) of Baroda Mahila Shakti Saving Account:

  • Transactions of saving oriented nature are permitted. Commercial transactions are non allowable transactions. If non allowable transactions are noticed then Bank may close the account with prior notice/intimation citing reasons thereof.

Cash Deposit

  • At Base/Local non-base branch: Any amount free of charge.
  • At Out-station branches:Up to Rs. 30000/- per day per account free of charge, thereafter chargeable @ Rs. 2.50 plus service tax per thousand or part thereof.
    • Cash deposit with debit card up to Rs.2,00,000/- (2 Lacs) per day where PAN is registered and Rs.49,999/- where PAN is not registered in account.
    • Card less transaction (by feeding account number) up to Rs. 20,000/- per day.
    • Fake note, Suspicious Note is impounded and receipt is given to the customer. Torne/Mutilated/Taped notes are not accepted by these machines.

Cash Withdrawal:

  • At Base/Local Non Base branches and outstation branches – No Charge.
  • Maximum Rs. 50000/- per day withdrawal allowed to A/c holder only at outstation branches.
  • Third party cash payment at local non-base branches and outstation branches is totally restricted.

Interest calculation and frequency

  • Interest is calculated on daily product basis and credited to accounts quarterly. For this purpose Bank’s quarters are May-July, August to October, November to January and February to April. 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.

Withdrawal(s) & use of Withdrawal Form (Slip)

  • Withdrawals will be allowed either by withdrawal forms or by cheques. Payment against withdrawal form along with passbook is allowed for self only with per day limit of Rs. 25000/- (Minimum Rs. 25/- in Rural/SU and Rs. 50/- in Metro/Urban)

Passbook and statement of account

  • Free Pass Book
  • Rs. 100/-- per duplicate Pass Book / Statement with latest balance only. Charges for previous entries (if required) Rs. 75/- per ledger page (25 entries per page) or part thereof.

Transaction Charges

  • Out of total 100 allowable withdrawals, 50 withdrawals are free in a calendar half year thereafter charges @ Rs.15 per transaction will be levied.

Free cheque book

  • facility upto 30 leaves in a financial year, charges will be levied @ Rs. 5/- per leaf thereafter.

Registration and execution of Standing instructions

  • A) No charge within the same branch
    B) Rs. 50/- for any other branch within the bank.
    C) Rs. 100/- for outside the Bank.
  • Rs. 100/- per occasion will be levied for Standing instruction failure because of insufficient funds.

Transfer of account/ scheme

  • upon submission of application along with pass book and unused cheque leaves the account can be transferred to another branch/ scheme free of charge.

Closure of account and charges

  • All the authorized signatories of the account will give in writing his/her/their intention to close the account. The relative passbook, Debit Card and the unused cheque leaves should be surrendered along with the letter requesting closure.
    In case of pre-mature closure of the account no charges will be levied if the account is closed within 14 days of first customer induced credit into the account. However, charges @ Rs.300/- plus service tax will be levied if account is closed beyond 14 days but within 1 year of the first customer induced transaction. In case of death of account holder no charges will be levied.

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, 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).

SMS Alerts and Charges

  • Free for the first year. Thereafter, charges @ Rs. 15/- per quarter are levied.
  • 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 Form.: Available separately.
  • The Bank will notify, 30 days in advance, any change in terms and conditions/ Fees and charges on its website.
  • All deposits to the extent of Rs.1/- lac per depositor of our bank (except Deposits of Central/State/Foreign Governments and commercial banks) are covered under Deposit Insurance & Credit Guarantee Corporation (DICGC).
  • Minimum Quarterly average balance requirement: Metro/Urban – Rs.3000/- and S. Urban – Rs.2000/- and Rural – Rs.1000/-
  • Charges for not maintenance of minimum balance: Metro/Urban – Rs.300/- per quarter, Rural/ Semi urban – Rs.150/- per quarter.
    Computation: Minimum QAB requirement is calculated on the basis of summation of closing balance of number of days divided by number of days. For purpose of arriving at Quarterly Average Balance/Minimum Balance charges, the period of quarters are considered as 16th Mar to 15th Jun, 16th Jun to 15th sep, 16th sep to 15th Dec and 16th Dec to 15th Mar of a particular year.
  • Nomination facility available.
  • Immediate Credit of outstation cheques upto Rs. 20000/- as per Bank norms.

Debit card and Charges

  • Free Debit card for first year then charges @ Rs. 150 per annum will be levied.
  • ATM Transactions at other bank ATM (India) – free upto 3 transactions in a month both Financial and Non Financial) at 6 centres viz, Mumbai, Delhi, Kolkata, Chennai, Bengaluru, Hyderabad and thereafter Rs. 20/- for every transaction will be charged. For any other centre (except these 6 centres) upto 5 transactions (both Financial and Non Financial) are free in a month thereafter Rs. 20/- for every transaction will be charged.
  • Card Replacement charges (in India) - Rs. 200/- per replacement.
  • Pin Generation - Rs. 150/- per regeneration.

Auto / Reverse Sweep:

  • Sweep facility available on request only over & above Rs.50,000/- in multiple of Rs.10000/- i.e. first Sweep out for Rs.10,000 will happen only when account balance reaches Rs.60,000. The duration of Fixed Deposit will be 181 days and in case of requirement of funds in SB A/c, auto reverse sweep in multiple of Rs.1,000/- on LIFO pattern (last in first out).
  • However, for premature withdrawals of all deposits, interest will be paid one per cent less than the rate which is applicable at the time of placing the deposit, for the period for which the deposit has actually run.

Cheque Return:

  • (Inward Return): per instrument charges.
    a) Upto Rs.1 Lac – Rs. 125/-
    b) Above Rs. 1 Lac to less than Rs. 1 Crore: - Rs. 250/-
    c) Above Rs. 1 Crore – Rs. 500/-
  • (Outward Return) per instrument charges.
    a) Upto Rs.1 Lac – Rs. 250/-
    b) Above Rs. 1 Lac to less than Rs. 1 Crore: - Rs. 500/-
    c) Above Rs. 1 Crore – Rs. 750/-
  • In case bank remains out of funds: Actual interest @ 7.5 % over Base rate is to be charged extra.
  • Cheque returned due to technical reason – not at the fault of customer – No Charges.
  • Charges for Copy of original of cheque (paid by the Bank – a) Rs.100 upto 6 months old record. b) Rest - Rs. 250/-

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.

*All Charges are exclusive of GST.
*All charges are subject to changes from time to time.
*For latest service charges, please visit our website www.bankofbaroda.com

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