Your Business Deserves The Right Financial Partner.
Opt for Baroda Premium Current Account Privilege and get multiple benefits.
Baroda Premium Current Account Privilege (BPCAP)
Ideal for customers with medium to large businesses, this current account offers a number of free services and benefits, such as an immediate credit of outstation cheques and auto payroll.
Interest Rates & Charges
Terms & Conditions
- It can be opened as a single or Joint account
- Minimum QAB is Rs. 2,50,000 at all locations
- Auto and Reverse Sweep facility enabling current account holder to earn higher interest on your deposit
- Baroda Vypaar business debit card for individual/proprietorship accounts only
- Baroda Connect facility (Internet Banking)
- Mobile banking for individual/proprietorship accounts only
- POS/QR code facility is available for payment collection
- 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
- Auto and reverse sweep facility enabling current account holders to earn interest
- Monthly statements: two times in a month free
- Balance certificate: free
- Folio charges: free
- Signature verification: free
- Cheque book: free
- Auto payroll: free
- Free Baroda Connect (Internet Banking): free
- Free mobile banking for individual/ proprietorship accounts only
- Immediate credit of outstation cheques: Maximum outstanding not to exceed Rs. 1,50,000 at any time
- Missed call facility: free
- SMS alert facility: free
- POS/ QR code facility available
- Internet Payment Gateway (IPG) facility available
- 100% discount on issuance of demand draft/ Bankers cheque.
- 20% Rebate/ discount on locker rent if locker rent is paid in advance for three years and above in lump sum to proprietor/ partners/ directors
- Discount on demat services: 25% waiver of annual custody charges to partners, directors, proprietors and up to two authorized managing members of other bodies
- Waiver of processing charges: 100% waiver in case car loans are in the name of proprietor, firm and company
- Collection of outstation cheques by sending cheques physically through post - No collection charges, only postage payable
- All Individuals including Minors of age 14 years and above.
- Registered & Un-registered Trust
- Businessman and professionals
- Hindu Undivided Family (HUF)
- Proprietorship/Partnership firms
- Private/Public Ltd Cos
- Clubs & Association,
- Government Departments
- Panchayat Samities
- Charitable & Public Trusts
- Registered & unregistered Societies
- Banks and Financial Institutions.
Interest Rates & Charges
Opening & Maintenance of Minimum Balances: -
Parameter Particulars Not maintaining minimum quarterly average balance of Rs. 2,50,000 At all branches Rs. 1,000 + GST per quarter Closing of account within one year Rs. 1,000 + GST
- If the minimum balance remains below the stipulated levels continuously for three months, the Bank may, after giving due notice, transfer the account to Standard Current Account.
- Baroda Advantage Current account holders can upgrade their account to Baroda Premium Current Privilege Account.
- 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.
- Monthly Statements: Two times in a month free of charge.
- Balance Certificate: Free
- Folio Charges: Free
- Signature Verification: Free
- Cheque Book: Free Unlimited.
- 100% waiver of charges on NEFT/RTGS through Branch Channel. It does not include Bulk NEFT/RTGS.
- 100% waiver on monthly (one) POS Rental
- SMS Alert Facility: Free
- 100 % discount on issuance of Demand Draft/Banker’s Cheque.
- 20% Rebate/ Discount on locker Rent, if locker rent is paid in advance for three years and above in lump sum, to proprietor/partners/directors.
- Discount on Demat Services: waiver of 25% of annual custody charges to partners, directors, proprietors and up to two authorized managing members of other bodies.
- Waiver of Processing Charges: 100 % Waiver in case Car Loans are in the name of Proprietor, Firm and Company.
- 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.
- 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. 1,000 + GST will be deducted.
- First Sweep out for Rs. 25,000 will take place only when account balance reaches Rs. 5,25,000 for 15 to 91 days.
- the threshold amount of Rs. 5,00,000 can be increased in multiples of Rs. 1,000
- 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.
- On maturity the proceeds of sweep amount will be credited to respective current account. Rate of interest on short deposit will be period specific as per bank’s Term Deposit rate. TDS will be applicable as per IT rules. The short deposit under flexi term deposit in TD129.
- Sweep in will take place on LIFO (Last in First Out) basis in multiples of Rs. 25,000.
All genuine purpose oriented transactions are allowed. There is no restriction on number of transactions in the current account.
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.
- At base branch and local non-base branch: Up to Rs. 50,000 or up to 10 packets i.e. 1000 pieces of notes of any denominations taken together, whichever is higher - free of charge per day. For additional 1000 pieces (10 packets) or part thereof charges at Rs. 10 (min. Rs. 10 and max. Rs. 10,000) will be charged.
- At outstation branches: There is no restriction for cash deposit in outstation branches if PAN is available in the account. Service charge will be levied as under:
|Shortfall in average balance||Slab of charges|
|Up to Rs. 25,000||NIL|
|Above Rs. 25,000 to Rs. 50,000||Rs. 25|
|Above Rs. 50,000 to Rs. 1 Lakh||Rs. 50|
|Above Rs. 1 Lakh||Rs. 100|
- Without PAN or form no. 60/61, max. amount of Rs. 49,999 cash can be deposited in the account in a day.
- 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 or suspicious notes are impounded and receipts will be given to the customer. Torn/ mutilated/ taped notes are not accepted by this machine.
Minimum Balance Requirement
Minimum QAB is Rs. 2,50,000. Service Charge of Rs. 1000 + GST (any area) for non-maintenance of QAB.
No interest is payable in current account except in case of deceased account where interest amount 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 at Rs. 2 per thousand or part thereof minimum Rs. 50 and cash withdrawal is allowed to account holder up to Rs. 50,000/- per day only by self-cheque. 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. Duplicate statement will be issued with present balance only at service charge of Rs. 100 + GST. For old entries of individual accounts charges at Rs. 75 per ledger page (25 entries treated as one ledger page). For non-individual accounts charges at Rs. 150 + GST for duplicate statement with current Balance only. For old entries the rate is Rs. 150 per ledger page for non-individual accounts.
No folio charges are levied in this account.
Unlimited free cheque books will be issued.
Debit Card will be issued to individual and proprietor accounts only. Debit card will be issued free for the first year and thereafter charges at Rs. 150 + GST p.a. for classic variant and Rs. 200 + GST for platinum variant will be levied.
For standing instruction within the Bank there is no charge. Charges at Rs. 50 + remitance charge + postage charged for SI sent out of the branches. Charges at Rs. 100 per occasion will be deducted if the instruction could not be executed on a particular date due to insufficient balance.
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 at Rs. 600 + GST will be deducted.
Account remaining Dormant for 10 years are treated as unclaimed deposits and are transferred to RBI.
The Bank may disclose information about customer's account, if required or 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 commitment to customers and grievances redressal policies are available at the branch.
The bank will notify, 30 days in advance regarding any change in Terms & Conditions/ fee and charges on its website.
DICGC Insurance Cover
Details of insurance cover in force under the scheme offered by Deposit Insurance and Credit Guarantee Corporation of India (DICGC) to the extent of Rs. 1 Lakh per depositor.
Addition/deletion of Joint Holder
Rs. 100 + GST per occasion (no charges in case of death)
Rs. 50 +GST per occasion (no charges in case of death)
Change of Authorized Signatory
Rs. 250 per change
Rs.200 + GST per instrument; Rs. 1000 + GST for whole cheque book
Allowing operation through POA/ Mandate
Rs. 1000 + GST
Opening A/c with restrictive operation
Rs. 500 per instruction
Cheque Return Charges
Inward Return Charges: Rs. 125 + GST (up to Rs. 1 Lakh); Rs. 250 + GST (Rs.1 Lakh to 1 Crore) and Rs. 500 + GST (above 1 Crore)
Outward Return Charges Rs. 250 + GST (up to Rs.1 Lakh); Rs. 500 + GST (Rs.1 Lakh to 1 Crore) and Rs. 750 + GST (above 1 Crore)
Financial Reason (both for drawer and payee). If cheque returned for technical reasons for no fault of customer no charges are deducted.
Copy of original of cheque / DD (paid by the Bank)
Rs.100 + GST up to 6 months old record, beyond 6 months Rs. 250 + GST
- First sweep out for Rs. 25,000 will take place only when account balance reaches Rs. 5,25,000 for 15 to 91 days
- The threshold amount of Rs. 5,00,000 can be increased in multiples of Rs. 1,000
- Sweep out amount of Rs. 25,000 can be increased in multiples of Rs. 25,000
- Sweep will take place every Monday
20% discount in locker rent if paid in advance for three years & above in lump sum
Free of charge facility for net banking, mobile banking, auto payroll, demand draft, banker's cheque, collection of outstation cheque.
Immediate credit of outstation cheque not exceeding Rs. 1,50,000 after 3 months of opening of the account.
Waiver of processing charges of car loan in the name of proprietor, firm and Co.
Free SMS Alert facility.
No charges for signature verification, balance certificate, transfer of fund at outstation CBS branches (outside clearing area), clearing of cheque of non-base branch.
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
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 redressed 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/Interest Rates & 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 (Rs. 5 lakhs)
- *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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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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