bob Bank Mitra Bachat Khata

• As a customer, you can enjoy the many features of a savings account free of cost or for minimum charges. With a savings account, you will receive a passbook and chequebook.
• You may also apply for a Debit card, Mobile banking and Net banking on your savings account, though charges may apply.
• With Net banking, you can access your bank statements and make payments directly from your savings account.
• You can use the debit card linked to your savings account to withdraw cash from ATMs and to pay merchants.
• Bank of Baroda pays interest on all savings accounts, the interest of which, is transferred to your savings account every quarter, though it is calculated daily.

• All Individuals
• Age : 14 years or above
• For New to Bank customers only

For Interest Rates & Charges please “Click Here”

Available

Opening of Savings Bank Account in this scheme is available at BC point only

Transactions

Transactions of saving oriented nature are permitted. Commercial transactions are non-allowable transactions. If non allowable transactions are noticed then Bank may close the account with prior notice/intimation citing reasons thereof.

Unfreezing of Account

Branch upon receipt of the system generated Savings Bank account opening form from BC agent and upon satisfying on the eligibility and KYC guidelines shall allow debit transactions. No restriction on credit transactions.

Signature Scanning in front of Bank Officials

No restriction on transaction thorugh Alternate delivery channels. For transacting at Branch premises, customer has to provide his/her signature for Bank records in front of Bank officials along with his/her KYC documents.

Cash Deposit

• For Rs.50,000/- and above PAN is required to be submitted as per requirement of Income Tax.
• At Cash Deposit machines
• Cash deposit with Debit card up to Rs.2,00,000/- (2 Lacs) per day where PAN is registered and Rs.49,999/- where PAN is not registered in account.
• Card less transaction (by feeding account number) up to Rs. 20,000/- per day.
• Fake note, Suspicious Note is impounded and receipt is given to the customer. Torn/Mutilated/Taped notes are not accepted by these machines.
• At BC point as per the applicable limits of the BC agent

Cash Withdrawal

• Inter SOL cash payments to third parties is not permissible.
• Per day per transaction limit of Rs.50,000/- is fixed for cash withdrawal by account holder only (through withdrawal up to Rs.25,000/- SB Account without cheque book facility) at Non Base CBS branches irrespective of nature of account. Passbook should accompany with Withdrawals.
• Self-Withdrawal at Base branch is free.
• At BC point as per the applicable limits of the BC agent operating through AEPS. (Aadhar seeding for AEPS is mandatory)

Withdrawal(s) use of Withdrawal Form (Slip)

• Withdrawals will be allowed either through withdrawal forms or cheques.
• Payment against withdrawal form along with passbook is allowed for self only with per day limit of Rs.25,000/- (Minimum Rs.25/- in Rural/SU and Rs. 50/- in Metro/Urban).

Passbook and statement of account

• Free Pass Book.
• 100/-per duplicate Pass Book / Statement with latest balance only.
• For previous statement/ entries, applicable charges apply.

Cheque book

• 30 cheque leaves will be issued free in a financial year.
• For additional cheque leaves, applicable charges will be applied.

Registration and execution of standing instructions

• No charge within the Bank.
• 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.

Transfer of account/scheme

• Upon submission of application along with pass book and unused cheque leaves the account can be transferred to another branch/scheme free of charge.

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.

Interest Rate

Please refer to Interest rates and Charges

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 in-operation of accounts.
• Activation/Closure of Dormant/Inoperative accounts will be done after submission of necessary KYC documents, photo, and 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.

Minimum balance requirement

Min. QAB

Computation: Minimum QAB requirement is calculated on the basis of summation of closing balance of number of days divided by number of days. For purpose of arriving at Quarterly Average Balance/Minimum Balance charges, the period of quarters are considered as 16th Mar to 15th Jun, 16th Jun to 15th Sep, 16th Sep to 15th Dec and 16th Dec to 15th Mar of a particular year.

Nomination

• Facility available.

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.

Closure of account and charges

• All the authorized signatories of the account will give in writing his/her/their intention to close the account. The related passbook, Debit Card and the unused cheque leaves should be surrendered along with the letter requesting closure.
• In case of pre-mature closure of the account no charges will be levied if the account is closed within 14 days of first customer induced credit into the account. However, charges @ Rs.200/- plus service tax will be levied if account is closed beyond 14 days but within 1 year of the first customer induced transaction. In case of death of account holder no charges will be levied.

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).