Your business deserves the right financial partner.

Opt for Baroda Advantage Current Account and get multiple benefits.

Baroda Advantage Current Account

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



  • Benefits
  • Features
  • Eligibility
  • Interest rates & charges
  • Documentation
  • Terms & Conditions
Benefits
  • Monthly statements: Free (once in a calendar month)
  • Folio Charges: Free (if minimum Quarterly Average Balance maintained is Rs.1,00,000/-)
  • Cheque Book: Free 1st cheque book of 50 leaves thereafter chargeable as per service charge guidelines.
  • Free Internet Banking
  • Free Mobile Banking (for Individual/ Proprietorship accounts only)
  • Free Missed Call Facility
  • Value added SMS Alert Facility: Allowed.
  • POS, Bharat QR Code & BHIM QR Code: Applicable charges.
  • Internet Payment Gateway (IPG) facility available.
  • Debit/ATM Card: VISA Vypaar Business Debit Card for Individual/Proprietorship accounts only. Issuance and Renewal chargeable as per latest guidelines of service charges.
  • 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.
  • Baroda Pay Point: Accept online/offline payment through all modes with Low transaction fee and initial investments.

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Minimum Balance Requirement
Individual / Non Individual
Rural/Semi-Urban Rs. 2000
Urban Rs. 5,000*
Metro Rs. 10,000 *

* Quarterly Average Balance


Charges for not maintaining minimum balance

Metro

Quarterly Average Balance (QAB) of Rs. 10000 is not maintained Rs. 800 per quarter

Urban:

Quarterly Average Balance (QAB) of Rs. 5000 is not maintained Rs. 600 per quarter

Rural/Semi Urban

Quarterly Average Balance (QAB) of Rs. 2000 is not maintained Rs. 400 per quarter


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 Maximum Rs.10000 (per day per taxation.)
  • 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 lakhs) 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. torn/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.


Transactions

All genuine purpose oriented transactions are allowed. There is no restriction on number of transactions in the current account subject to ledger folio charges.


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.


Debit Card

VISA Vypaar Business Debit Card will be issued to Individual and Proprietor accounts only. Debit card will be issued free for the 1st year and thereafter charges will be levied.


Cheque Book

No charges on issuance of first cheque book of 50 Leaves on opening a Current account. Subsequent Cheques will attract charges @ Rs. 5 + GST per leaf.


Transfer/Closure of Accounts

A/c can be transferred/closed at the written request of customers only. New cheque book will be issued to him. No charges required for transfer of an account. For closure of Current account within one year @ Rs. 250 +GST (Individual) & @ Rs. 500 +GST (Non-individuals) will be deducted.


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.


Unclaimed Deposit

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


Charges for Standing Instructions

Within the Bank - Not chargeable Rs. 50 per transaction plus applicable remittance charges in case of credits for outside the branch whether in same city or other cities i.e in other branches/Offices such as LIC etc. plus actual postage charges


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 are available separately.
  • The Bank will notify, 30 days in advance, any change in Terms & Conditions/Interest Rates & Charges 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 up to Rs. 5,00,000 (5 lakhs).

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 www.bankofbaroda.com
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Select Current Accounts Type
  • Baroda Advantage Current Account
  • Baroda Current Account for LIC-Other Insurance Companies
  • Baroda Current Account for Other Banks
  • Baroda Premium Current Account
  • Baroda Premium Current Account Privilege
  • Baroda Small Business Current Account
  • Others

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Frequently Asked Questions (FAQs) about Baroda Advantage Current Account

  • 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.

Types of Current Accounts

  • Baroda Current Account for LIC/Other Insurance Companies

  • Baroda Current Account for Other Banks

  • Baroda Premium Current Account (BPCA)

  • Baroda Premium Current Account Privilege (BPCAP)

  • Baroda Small Business Current Account (BSBCA)

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