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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


All Customers in Age Group of 18-70 are eligible to avail the Life Insurance benefits Any resident individual who has attained the age of 18 years and has not completed the age of 70 yrs can avail the facility of Life Insurance Cover from “IndiaFirst Life Insurance Co. Ltd” (IFLIC) upto an amount of Rs.5.00 lac after payment of required premium and submission of simple Health Declaration Form (DOGH)

Sum Assured

The Sum assured starts at a minimum of Rs.1.00 lac and goes up to Rs.5.00 lacs (in multiples of Rs. 1.00 lac).

Under the Scheme, Only one insurance cover per person shall be allowed.


Period of Insurance is one year from 01st January to 31St December every year and is annually renewable. In case of those accounts which are opened in due course in the middle of the year, premium shall be paid on prorata basis only for the year in which the insurance is subscribed as per details mentioned below:

Premium Table

Insurance premium chart - 1 Lac
Age in Years
18-35 36-50 51-59 60-70
Month of joining the Scheme Premium ( Inclusive of GST )
with effect from 01.01.2020
Coverage in Months
Jan 138 276 768 1,975 12
Feb-20 127 253 704 1,811 11
Mar-20 115 230 640 1,646 10
Apr-20 104 207 576 1,482 9
May-20 92 184 512 1,317 8
Jun-20 81 161 448 1,153 7
Jul-20 69 138 384 988 6
Aug-20 58 115 320 823 5
Sep-20 46 92 256 659 4
Oct-20 35 69 192 494 3
Nov-20 23 46 128 330 2
Dec-20 12 23 64 165 1

From second year onwards the premium for the full year will be auto debited at central level in the month of January.

Insurance cover shall be available only till the Savings Account is active and Premium amount once collected shall not be refunded even if the account is closed.

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

  • For Rs.50000/- and above PAN is required to be submitted as per requirement of Income Tax.
  • At Cash machines:
    • 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:

  • 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.

Minimum Quarterly Average Balance Requirement:

  • Metro/Urban – Rs.3000/-
  • S. Urban – Rs.2000/-
  • Rural – Rs.1000/-

Charges for not maintenance of Minimum Balance:

  • Metro/Urban – Rs.300/- per quarter,
  • Rural/Semi-Urban –Rs.150/-per quarter.


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 March of a particular year.

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.

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.

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.

SMS Alerts and Charges

  • Free for the first year. Thereafter, charges @ Rs. 15/- + GST per quarter are levied.

Nomination Facility

Nomination facility available.

Debit card and Charges

  • Free Rupay Platinum Debit card for 1st Year afterwards Annual Charges will be levied.

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.

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.
  • Clearing Transactions: There is no restriction for clearing transactions.

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.

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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