A salary account that equals as status.

Open bob Salary Privilege Account and get attractive benefits.

  • Benefits
  • Features
  • Eligibility
  • Documents Required
  • Most Important Terms and Conditions (MITC)

bob Salary Privilege Account : Features

  • Inbuilt- Overdraft facility available immediately after 1st salary Credit Upto ₹ 3 lakhs*
  • Discounts on locker rentals, demat AMC and issuance fee of prepaid cards.
  • Free remittance facility on RTGS/NEFT/IMPS.
  • 100% Waiver on processing charges on retail loans.
  • Free unlimited DD/BC
  • Life Time Free VISA Sapphire Debit Card.
  • Attractive offers linked to Debit card.
  • Life time Free PREMIER CREDIT CARD
  • Free Personal Accident Insurance Upto ₹ 50.00 lacs*

bob Salary Privilege Account : Eligibility

Gross monthly salary credit more than Rs. 2 lakhs.
Suitable for: Top management.

bob Salary Privilege Account : Documents Required

  • Applicable documents for opening Savings account as per extant guidelines.
  • Salary related documents such as Latest Salary Slip, Appointment Letter etc.
  • Declaration stating the Terms and Conditions of the benefits under the Baroda Corporate Salary Package Account Scheme

bob Salary Privilege Account : Most Important Terms and Conditions (MITC)

Salary Band
  • Gross monthly salary credit more than Rs. 2 lakhs.

  • Age: - 18 to 60 Years (Salaried Customer having Account in the Scheme before retirement can continue the Account till attending the age of 70 years subject to crediting of Pension in the Account).

Suitable for
  • Top Management.

Minimum Deposit Amount
  • Allowed to open with Zero Balance subject to immediate salary credit in the following month.

Minimum Quarterly Average Balance QAB
  • Zero balance account.

Charges for Non-maintenance of QAB
  • Not applicable as account type is zero balance account.

Cheque Books
  • Free Unlimited Chequebook

  • Free Unlimited RTGS/NEFT/IMPS/UPI

Inbuilt Overdraft Facility
  • Available immediately after first Salary Credit.
  • Amount of overdraft is equivalent to the net credit of first salary rounded off to the nearest figure in thousands.
  • Maximum: Rs. 3lakhs.
  • Clean overdraft.
  • Overdraft is to be adjusted in full once in 60 days of availing the same.

Demand Draft/Banker's Cheque
  • free unlimited DD/BC

Internet Banking/Mobile Banking
  • Free

Debit Card
  • Lifet Time Free Visa Sapphire Debit card (Renewal & Issuance Charges)

Waiver in Processing Charges on Retail Loans
  • 100% Waiver in processing charges on HOME Loans. (Subject to recovery of minimum charges per property to be mortgaged as out of pocket expenses (for legal, valuation etc).
  • 100 % Waiver in Processing Charges on Auto, Education & Personal Loans

* Applicable on mortgage based retail loans.

Concession in Rate of Interest for Auto Loans
  • For the employees who has availed home loan, a concession of 0.25% in applicable ROI of auto loan.

  • 50% discount on locker rentals (subject to availibility)

Other Benefits
  • Free SMS/ Email alerts.
  • Sweep facility available on specific request of Customer.
  • 100% waiver on issuance / Renewal Charge for Prepaid /Gift card.
  • Bob World Mobile Banking Application with 225+ Services

A/c Opening
  • Fully digitised

A/c Activation
  • Instant

Interest Calculation and Frequency
  • Interest for the period February to April will be credited in May, Interest for May to July will be credited in August, interest for August to October will be credited in November and interest for November to January will be credited in February every year.

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 the 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.

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, about 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 up to Rs. 5 lakhs.

Frequently Asked Questions (FAQs)

  • What is bob Salary Privilege account?

    The bob Salary Privilege Account serves as the salary account for top management grades with a net monthly salary credit of Rs. 2 lakh or more.

  • A salary account is which type of account?

    Salary account is a savings type of account.

  • What are the benefits of bob Salary Privilege account?

    If you choose to open a bob Salary Privilege account, you will enjoy the following benefits.

    • 50,000 to 3 lakh rupees in overdraft capacity, depending on your salary band.
    • Discounts on locker rentals, DEMAT AMC, etc.
    • Waiver on processing charges on retail loans.
    • Debit card variant & annual fee.
    • Free lifetime VISA Platinum Debit Card.
    • 1,00,000 rupees is the daily cash withdrawal cap, and 20,000 rupees is the daily online purchase cap.
  • How to convert saving account to salary account?

    Depending upon the salary band, the saving account can be converted into salary account which are suitable for various level i.e., entry level, junior management, middle management and top management.

  • Do we get interest on salary account?

    bob Salary Privilege Account's interest rate is the same as that for regular savings accounts. Please visit our “Interest” rates section of our website for the latest rates offered.

  • Can we deposit cash in salary account?

    Yes, you can deposit cash via your nearby branch or ATM.

  • How much interest do we get on bob Salary Privilege Account?

    Interest rate for bob Privilege account is same as applicable for normal savings account. Please visit our Interest rates section of our website for the latest rates offered.

  • Can I use salary account for personal use?

    Yes, you can use it. A salary account is similar to a savings account.

  • Is bob Salary Privilege Account a zero-balance account?

    Yes, it can be a zero-balance account.

  • Is sweep facility available under bob Salary Privilege Account?

    Yes, the facility is available online.

  • Is overdraft facility available in bob Salary Privilege Account?

    Yes, it is available up to Rs. 3 lakhs.

  • Can we open bob Salary Privilege account without PAN card?

    No, we cannot. It is a mandate by the RBI.

  • Is Aadhaar card mandatory for opening bob Salary Privilege account?

    Yes, it is mandatory.

  • Who can open bob Salary Privilege?

    bob Salary Privilege account can be opened wherein net monthly salary credit is Rs. 2 lakhs and above.

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