Baroda Champ Account

Balance Requirement

• No minimum balance requirement
• Maximum credit balance in account is Rs. 1 lakh

Non-maintenance of Quarterly Average Balance charges: NIL

Transactions

• Overall transaction limit of Rs. 5,000 per day
• Combined transaction limit of Rs. 3,000 per day from ATM & POS

Free cheque book

• Facility up to 45 leaves in a financial year, charges will be levied Rs. 5 per leaf thereafter.

Nomination

• Facility is available.

Debit card

• Baroda Champ Rupay Debit card to be issued for the applicant of more than 10 years of age.

Sweep Facility is available on request

• The auto-sweep will trigger in excess of Rs. 10000/- for transfer of the amount in term deposit.

Auto Sweep Amount

• Default setting: The amount in over the threshold limit in multiple of Rs. 5,000.The customer, looking to his needs, will have the liberty to fix higher amount than Rs. 5,000 in multiples of Rs. 1,000 for triggering the auto sweep.

Reverse Sweep Amount

Default setting: In case of need, reverse sweep will be permitted in multiple of Rs. 5000. For reverse sweep, the LIFO system will be followed

• Tenure of the term deposit: Tenure of the term deposit will be 180 days.
• In case the customer is in need of funds, the amount lying in FFD will be available to the customer through reverse sweep facility. However, for premature withdrawals of all deposits, interest will be paid 1% less than the rate which is applicable at the time of placing the deposit, for the period for which the deposit has actually run.

• Eligibility age: 0 to 18 years.

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Transactions that are savings-oriented in nature are permitted. Commercial transactions are non-allowable transactions. If non-allowable transactions are noticed, then the Bank may close the account with prior notice/intimation citing reasons thereof. The maximum balance outstanding on any day should not be more than Rs. 1 lakh.

Interest calculation and frequency:

Interest is calculated on a daily product basis and credited to accounts quarterly. For this purpose, Banker’s quarters are April to June, July to September, October to December and January to March. Interest is credited to the account within 15 days at the end of the quarter. However, the value date is effective the 1st day of the month is given while crediting interest.

Withdrawal(s) & use of Withdrawal Form (Slip):

Withdrawals will be allowed either by withdrawal forms or by cheques. Payment against withdrawal form along with passbook is allowed for self only with per day limit of Rs. 5,000 (Minimum Rs. 25 in rural/SU and Rs. 50 in metro/urban).

Registration and execution of standing instructions:

A) No charge within the same branch.
B) Rs. 50 for any other branch within the bank.
C) Rs. 100 for outside the Bank.

Rs. 100 per occasion will be levied for standing instruction failure because of insufficient funds.

Transfer of account/scheme:

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

Charges Rs. 15 per quarter are levied.