Baroda Mahila Shakti Saving Account

• 1st Year free RuPay Platinum Debit Card with 2 lacs accident insurance upto 70 years of age (subject to one successful financial or non-financial transaction at any channel in the last 45 days prior to the incident; subject to change as per NPCI guidelines)
• Free SMS Alert facility for the 1st year
• Discount of 0.25% on rate of interest on Two Wheeler Loan. 25 % waiver on processing charges for Auto Loan and Mortgage Loans. 100% waiver in Processing charges for Personal Loan.
• Sweep facility is available on request only over & above Rs.50,000/- in multiple of Rs.10,000/- for 181 days & reverse sweep in multiple of Rs.1000/-
• 25% waiver on issuance charges of Travel/ Gift Card.
• Waiver on 1st year DEMAT annual maintenance charges.
• No Joining Fees on Bank of Baroda Easy Credit Card.

• This product is designed for the Women’s segment Savings Account.
• This product is suited for individual women above 18 Years of age. The value added features are designed to meet the requirement of the customers.
• Resident Indian Women of 18 Years & above should be the Primary Accountholder.

For Interest Rates & Charges please “Click Here”

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.

Cash Deposit:

• For Rs. 50,000 and above, PAN must be submitted as per the requirement of Income Tax.

At cash machines:

• Cash deposit with debit card up to Rs. 2 lakhs per day if the PAN is registered and, Rs. 49,999 if the PAN is not registered to the account.
• Cardless transactions (by feeding account number) up to Rs. 20,000 per day.
• Fake note, suspicious note is impounded and a receipt is given to the customer. Torne/mutilated/taped notes are not accepted by these machines.

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Cash Withdrawal:

• Maximum Rs. 50,000 per day withdrawal is allowed to the account holder only at outstation branches.
• Third-party cash payment at local non-base branches and outstation branches is totally restricted.

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Minimum Quarterly Average Balance Requirement:

• Metro/Urban: Rs. 3,000
• S. Urban: Rs. 2,000
• Rural: Rs. 1,000

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Charges for non-maintenance of Minimum Balance:

• Metro/Urban: Rs.300/- per quarter
• Rural/Semi-Urban: Rs.150/-per quarter

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Computation

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

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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. 25,000 (Minimum Rs. 25 in rural/SU and Rs. 50 in metro/urban)

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Passbook and statement of account

• Free passbook
• Rs. 100 per duplicate passbook/statement with latest balance only

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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.

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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.

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Dormant/Inoperative Account

• The account becomes inoperative/dormant if there are no customer-induced transactions from the 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, 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.

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SMS Alerts and Charges

• Free for the first year. Thereafter, charges Rs. 15+ GST per quarter are levied.

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Nomination Facility

• Nomination facility is available.

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Debit Card and Charges

• Free Rupay Platinum Debit Card for the 1st year after which Annual Charges will be levied.

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Auto/Reverse Sweep:

• Sweep facility is available on request only over & above Rs. 50,000 in multiple of Rs. 10,000 i.e. first sweep out for Rs. 10,000 will happen only when account balance reaches Rs. 60,000. The duration of Fixed Deposit will be 181 days and in case of requirement of funds in SB A/c, auto-reverse sweep in multiple of Rs. 1,000 on LIFO pattern (last in first out).
• 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.

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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 the account. However, for genuine transactions, Branch Head is authorised to allow transactions at a 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.

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Closure of Account and Charges:

• All the authorised signatories of the account will give in writing his/her/their intention to close the account. The relative passbook, debit card and 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 the first customer-induced credit into the account. However, charges Rs. 300 plus service tax will be levied, if the 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.

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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 a 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.

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