Save today, for their brighter tomorrow.
Open Baroda Champ Account and get attractive benefits.
Interest Rates & Charges
Most Important Terms and Conditions (MITC)
Baroda Champ Account : Benefits
- No Minimum Balance Requirement
- No charges on school fee payment
1 DD free per month for fees payment
(maximum amount of Rs 1 lacs)
- Theme Based RuPay Debit Card
- Internet banking facility available to applicant of 10 yrs and above
- Mobile banking Facility available to applicant of 10 yrs and above
- Auto/Reverse sweep with flexibility
Baroda Champ Account : Features
- No charges on School Fee Payment.
- DD free per month for fee payment (to a maximum amount of Rs.1 lac).
- NEFT/ IMPS (outward & inward) free for an amount of Rs.1 lac per month.
- Theme-Based RuPay Baroda Champ Debit Card issuance available to applicant individually above 10 years of age.
- No issuance charges on Debit Card. Renewal charges will be applicable.
- Internet Banking facility available, subject to min. age of accountholder is 10 years.
- Mobile Banking facility available, subject to min. age of accountholder is 10 years.
- Auto / Reverse Sweep with flexibility in threshold and Sweep out amount: Auto transfer of funds exceeding Rs.10,000/- to short deposit with a minimum of Rs. 5,000/- for 180 days and auto retransfer to the account from short deposit, in case funds are required in the Savings Bank account in multiple of Rs.5,000/- to bring you higher interest with high liquidity.
- Nomination Facility is available.
Baroda Champ Account : Eligibility
- Eligibility age: 0 to 18 years.
Baroda Champ Account : Documents Required
|List Of Valid KYC Documents For Account Opening|
|Permanent Account Number (PAN)/ FORM60 is mandatorily to be obtained while opening of the accounts as per extant Reserve Bank of India Guidelines.|
|Officially Valid Documents (OVDs) for Accounts of Individuals||
|Deemed Officially Valid Documents, In case OVD does not contains current/ updated address. (At least one document from the list is Required.)||
|In case of Foreign Students||
|For NRI / Foreign Tourist For PIO/OCI||
|For Foreign Nationals|
||Address proof mentioning the current overseas address (any one)||
(FRRO/ FRO Certificate/ Permit/ Indian Driving License/ OVDs/ any Deemed OVD mentioned herein above, is required to be provided for Indian Address Proof.)
|Accounts of Companies||
|Accounts of Sole Proprietary firms.||
(Any two of the following documents to be obtained)
|Accounts of Partnership firms. (Registered)||
|Accounts of Trusts||
|Accounts of Unincorporated Associations or body of individuals includes unregistered||
|Partnership firm/ trusts and societies.||
|Accounts of Hindu Undivided Family||
|Accounts of the Government or its Departments, societies, universities and local bodies like village panchayats etc.||
|Account of Political Parties||
Baroda Champ Account : Interest Rates & Charges
“All other rules like service charges on inoperative accounts, addition/deletion of names, payment of interest, etc. governing savings bank accounts shall also apply to these accounts mutatis mutandis, unless otherwise specified.”.
- For Interest Rates & Charges please “Click Here”
Baroda Champ Account : Most Important Terms and Conditions (MITC)
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.
Minimum Balance Requirement
- No Minimum Balance Requirement.
- Maximum Credit Balance in Account is Rs. 1 lakh.
- Non-maintenance of Quarterly Average Balance charges is Zero.
- Overall transaction limit of Rs. 5,000 per day.
- Combined transaction limit of Rs. 3,000 per day from ATM & POS.
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).
Passbook and Statement of Account
- Free passbook.
- 100 per duplicate passbook/statement with latest balance only.
Cheque Book Charges
- 30 Cheque Leaves will be issued free of charge Year, thereafter Std. charges will be levied.
Registration and Execution of Standing Instructions
- No charge within the Bank and Rs. 100 for outside the Bank.
- 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.
Closure of Account
- All the authorized signatories of the account will give in writing with his/her/their intention to close the account. The relative passbook, debit card and the unused leaves should be surrendered along with the letter requesting closure.
- In case of premature 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 is levied if account is closed beyond 14 days but within 1 year of the first customer induced transaction. However, in case of death of account holder no charges will be levied.
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.
- Account becomes Inoperative/Dormant if there are no customer induced transactions in Savings Accounts 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, 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.
SMS Alerts and Charges
- Charges @ Rs. 15 per quarter are levied.
- Nomination facility available.
Auto/Reverse Sweep Facility
- Auto sweep out will happen beyond threshold limit of Rs. 10,000 to Short Deposit of 180 days in multiple of Rs. 5,000 and case of requirement in SB A/c auto Reverse Sweep in multiple of 5,000 on LIFO Pattern (last in first out).
- However, for premature withdrawals of all deposits, interest will be paid one per cent less than the rate which is applicable at the time of placing the deposit, for the period for which the deposit has actually run.
- Sweep will take place on every Monday.
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 to prevent 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, of 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 the Deposit Insurance & Credit Guarantee Corporation (DICGC) maximum up to Rs. 5 lakhs.