Complete Banking Solution for Govt. Organization
Open a Current Account at our Bank of Baroda today!
Baroda Govt Bodies Current Account (CA -132)
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Benefits
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Features
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Eligibility
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Fees & Charges
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Documents Required
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Most Important Terms and Conditions (MITC)
Baroda Govt Bodies Current Account (CA -132) : Benefits
Baroda Govt Bodies Current Account (CA -132) : Features
- Minimum QAB balance- NIL
- Cheque book / Ledger Folio/ SMS & Email Alerts - Free
- Sweep Facility - Available on Request
- NEFT / RTGS / IMPS through Branch/Internet Banking - Free
- Cash deposit - Free in Base Branch.
- Internet Payment Gateway (IPG) / Baroda Cash Management Services (BCMS) / Public Financial Management System (PFMS) - As per Bank’s extant guidelines.
Collection of Outstation Cheques - No collection charges (only postage payable).
Baroda Govt Bodies Current Account (CA -132) : Eligibility
- Government Departments / Bodies / Agencies in respect of Grants/ Subsidies released for implementation of various Programmes / Schemes sponsored by Central / State / UT Governments subject to production of authorization from the respective Central / State Government departments to open bank account.
- Government Departments/Bodies depending upon budgetary/non-budgetary allocations for performance of their functions.
- Municipal Corporations or Municipal Committees.
- Panchayat Samitis.
- State Housing Boards.
- Water and Sewerage/Drainage Boards/State Text Book Publishing-Corporations/Societies/
- Metropolitan Development Authority
- Any other Govt. Body/Association/ Society/Organizations eligible to open Bank Account.
Baroda Govt Bodies Current Account (CA -132) : Fees & Charges
Nil
Baroda Govt Bodies Current Account (CA -132) : Documents Required
List Of Valid KYC Documents For Account Opening | |||||
Permanent Account Number (PAN)/ FORM60 is mandatorily to be obtained while opening of the accounts as per extant Reserve Bank of India Guidelines. | |||||
Officially Valid Documents (OVDs) for Accounts of Individuals |
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Deemed Officially Valid Documents, In case OVD does not contains current/ updated address. (At least one document from the list is Required.) |
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In case of Foreign Students |
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For NRI / Foreign Tourist For PIO/OCI |
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For Foreign Nationals |
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Address proof mentioning the current overseas address (any one) |
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(FRRO/ FRO Certificate/ Permit/ Indian Driving License/ OVDs/ any Deemed OVD mentioned herein above, is required to be provided for Indian Address Proof.)
Accounts of Companies |
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Accounts of Sole Proprietary firms. |
(Any two of the following documents to be obtained)
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Accounts of Partnership firms. (Registered) |
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Accounts of Trusts |
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Accounts of Unincorporated Associations or body of individuals includes unregistered |
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Partnership firm/ trusts and societies. |
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Accounts of Hindu Undivided Family |
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Accounts of the Government or its Departments, societies, universities and local bodies like village panchayats etc. |
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Account of Political Parties |
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Baroda Govt Bodies Current Account (CA -132) : Most Important Terms and Conditions (MITC)
Minimum Balance Requirement/Charges
- Zero
Charges for Non Maintenance of Minimum Balance
- Nil
Ledger Folio Charges
- Nil
Cash Deposit
- Any amount - Free of Charge.
- At Base/local Non-Base Branch
- Free up to Rs. 30,000/- per day per account, thereafter chargeable @ Rs. 2.50 plus GST per thousand or part thereof.
- At Out-Station Branches
At Cash Machines
- Cash deposit with Debit Card up to Rs. 2,00,000/- per day is allowed where PAN is registered and Rs. 49,999/- where PAN is not registered in account.
- Card less transaction (by feeding account number) is allowed up to Rs. 20,000/- per day.
Cash Withdrawal
- At Base/Local Non-Base and Outstation Branches: No Charges.
- Third party cash payment at local non-base branches and outstation branches is totally restricted.
Cheque Book Charges
- Sweep Facility - Available
- Collection of Outstation Cheque - Free (only postage payable)
- Unlimited Free Cheque Book Facility is available.
Registration and Execution of Standing Instructions
- Free of charge.
- 100/- per occasion will be levied for standing instruction failure because of insufficient fund
Transfer of Account/Scheme
- Upon submission of application along 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 with his/her/their intention to close the account. The unused leaves should be surrendered along with the letter requesting closure.
Dormant/Inoperative Account
- Account becomes Inoperative/Dormant if there are no customer induced transactions in Current Accounts for over a period of Two Years.
- 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 Charges
- Free of charge.
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.
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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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.
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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.
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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.