Treat every dream like a big one, with comfort.

Opt for Baroda Small Business Current Account and get multiple benefits.

Baroda Small Business Current Account (BSBCA)

This type of current account is ideal for small businesses such as start-ups or mom-and-pop stores and can be opened by individuals, or proprietorship and partnership firms.


  • Benefits
  • Features
  • Eligibility
  • Documentation
  • Terms & Conditions
  • Terms & Conditions
Benefits
  • This Account is specially customized to cater to Banking needs of small business accounts run by:
    • Individual
    • Proprietorship firms
    • Partnership Concerns
  • Best suited for:
    • Start Ups
    • Mom & Pop stores.
  • This account is based on concept of "PAY AS YOU USE"
  • Available only for Metro & Urban Centres.
  • Lower Quarterly Average Balance unlocks the potential of funds in the account for use in businesses.
  • 5 Non ADC transactions are free per month.
  • Unlimited free digital transactions.

Coming Soon..

This account can be opened by small businesses (i.e. individuals, proprietorship & partnership concerns only). Account is available in metro and urban centres only.

Coming Soon

Minimum Balance Requirement

Minimum Quarterly Average Balance (QAB) – Rs. 2500. Non-maintenance of Minimum QAB will attract Rs. 300 +GST per quarter.


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. Annual turnover permissible in the account is capped at Rs. 20 lakhs.

  • First 5 non ADC transactions are free per month after which Rs.10 +GST per transaction will be levied for all non ADC transactions routed through branches till annual turnover reaches Rs. 20 lakhs.
  • If Annual turnover crosses Rs. 20 lakhs, transaction charges @ Rs.15 +GST per transaction will be levied.
  • All ADC transactions are free irrespective of number.
  • Transaction charges as mentioned above will be calculated on daily basis but recovered at the end of every month.

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.


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. (Minimim 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.

Cheque Book

No charges on issuance of first cheque book of 50 Leaves on opening a Current account.


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.
  • System will not charge Rs. 10 as transaction charges up to 5 transactions per month).

Statement of Account
  • Statement of Account is provided once a month free of cost.
  • One statement (Hard Copy) free in a month.
  • Free e-statement on registered e-mail provided minimum 4 transactions per month are there in the account.

Debit Card

RuPay Classic Card (for Individual & Proprietors only) – Free for first year and thereafter charges will be levied.


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. 200 +GST (Individual) & @ Rs. 500 +GST (others) will be deducted.


Unclaimed Deposit

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


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 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 (Rs. 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 websitewww.bankofbaroda.com
Minimum Balance Requirement

Minimum Quarterly Average Balance (QAB) – Rs. 2500. Non-maintenance of Minimum QAB will attract Rs. 300 +GST per quarter.


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. Annual turnover permissible in the account is capped at Rs. 20 lakhs.

  • First 5 non ADC transactions are free per month after which Rs.10 +GST per transaction will be levied for all non ADC transactions routed through branches till annual turnover reaches Rs. 20 lakhs.
  • If Annual turnover crosses Rs. 20 lakhs, transaction charges @ Rs.15 +GST per transaction will be levied.
  • All ADC transactions are free irrespective of number.
  • Transaction charges as mentioned above will be calculated on daily basis but recovered at the end of every month.

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.


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. (Minimim 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.

Cheque Book

No charges on issuance of first cheque book of 50 Leaves on opening a Current account.


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.
  • System will not charge Rs. 10 as transaction charges up to 5 transactions per month).

Statement of Account
  • Statement of Account is provided once a month free of cost.
  • One statement (Hard Copy) free in a month.
  • Free e-statement on registered e-mail provided minimum 4 transactions per month are there in the account.

Debit Card

RuPay Classic Card (for Individual & Proprietors only) – Free for first year and thereafter charges will be levied.


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. 200 +GST (Individual) & @ Rs. 500 +GST (others) will be deducted.


Unclaimed Deposit

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


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 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 (Rs. 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 websitewww.bankofbaroda.com
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Frequently Asked Questions (FAQs)

  • 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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