What is the minimum balance required in Baroda Platinum Saving Bank Account?

A minimum Quarterly Average Balance (QAB) of Rs. 1,00,000 needs to be maintained.

What is the Baroda Platinum Savings Account?

Baroda Platinum savings account is an account to provide benefits and services that will make banking convenient and simple for HNIs.

What is the interest rate of the Baroda Platinum Saving Bank Account?

The interest rate of the Baroda Platinum Saving Bank Account is the same as that of a normal savings account. Please visit the interest rates section of our website for the latest rates offered.

Why Baroda Platinum Saving Bank Account is best?

Below are the premium benefits given to the Baroda Platinum Savings Bank account holders: No bar on daily cash withdrawal limits up to Rs. 1 lakh. ·Free personalized VISA Platinum Chip Debit Card. Purchase limit of Rs. 2 lakhs per day.Unlimited use of Internet banking or mobile banking.50%

Convenient banking solutions for chosen few.

Baroda Platinum Saving Bank Account and get attractive benefits.

Baroda Platinum Saving Bank Account

Baroda Platinum Savings Bank Account offers several easy options to access your money, including unlimited branches, ATM withdrawals and the option to write cheques. All transactions that are saving oriented in nature are permitted with this multi-beneficial savings account. Open a Savings Account with us today and enjoy the premium benefits we have to offer! Read to know how a savings account work.

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Benefits
Features
Documents Required
Interest rates & charges
Most Important Terms and Conditions (MITC)

Baroda Platinum Saving Bank Account : Benefits

Baroda Platinum Saving Bank Account : Features

Free Personalized VISA Platinum Chip Debit Card with following feature:
1. Cash withdrawal limit up to Rs 50,000/- per day (ATM).
2. Purchase limit of Rs 2,00,000/- per day (POS).
Free unlimited NEFT/RTGS/IMPS through Internet Banking/Mobile Banking/Branch Channel.
Unlimited cheque-books for routine requirement.
Sweep facility available on request over & above Rs.2,00,000/- in multiple of Rs.10000/- for 181 days. Reverse sweep will happen in multiple of Rs.10,000/-.
No charges for cash deposit in base branch.
No charges for cash deposit upto Rs 1.00 lac per day in non-base branch.
50% waiver on issuance charges of gift and travel card.
10% discount on annual locker charges.
Free SMS/E-mails alerts.
No ledger folio charges.
Waiver of 100% in DEMAT AMC charges, discount on charges from subsequent years in case account is operated with min QAB of Rs 1.00 lacs in preceding year.

Baroda Platinum Saving Bank 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

Passport
Driving license with photo
Proof of possession of Aadhaar Number
Voter’s Identity Card issued by Election Commission of India,
Job card issued by NREGA duly signed by an officer of the State Government.
Letter issued by the National Population Register containing details of Name and Address.

Deemed Officially Valid Documents, In case OVD does not contains current/ updated address. (At least one document from the list is Required.)

Utility bill of any service provider i.e. electricity, telephone, postpaid mobile phone, piped gas, water bill (not more than two months old)
Property or Municipal Tax receipt;
Pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings, If they contain the address;
 Letter of allotment of accommodation from employer issued by State or Central Government departments, statutory or regulatory bodies, and public sector undertakings, scheduled commercial banks, financial institutions and listed companies. Similarly, leave and license agreements with such employers allotting official accommodation;

In case of Foreign Students

Copy of Passport and copy of Visa.
An Identity Card issued by college / institution.
An admission letter for the course mentioning duration of course for which he/ she is admitted by the Institute / College.
An allotment letter on letter head of the institution/ college for allotment of hostel accommodation duly singed by the authorized signatory, mentioning detailed address and location of hostel, room no. etc. and date of allotment of hostel accommodation etc. or a valid address proof giving local address in form of rent agreement within 30 days of opening of the account.

For NRI / Foreign Tourist For PIO/OCI

Passport
Valid Visa
PAN/FORM60

Address proof mentioning the current overseas address (any one of the below)

Documents issued by Govt. Deptt. of foreign jurisdictions i.e. Driving License, National Identification Card, Social Security Card, Employee Card and Labour Card, Tax Residency Certificate etc. having Name and Address of the Applicant Letter Issued by Foreign Embassies or Mission in India having Name and Address of the Applicant Utility bill of any service provider i.e. electricity, telephone, postpaid mobile phone, piped gas, water bill (not more than two months old) Property/ Municipal Tax Receipt
Letter of allotment of accommodation/ Leave and License agreements allotting official accommodation from employer issued by State or Central Govt. departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions and listed companies.

For Foreign Nationals

PAN/FORM60 Valid Foreign Passport Valid Indian Visa	Address proof mentioning the current overseas address (any one)	Foreign Driving License Documents issued by Govt. Deptt. of foreign jurisdictions i.e. National Identification Card, Green Card and Social Security Card etc. having Name and Address of the Foreign National. Letter Issued by Foreign Embassies or Mission in India having Name and Address of the Applicant

PAN/FORM60
Valid Foreign Passport
Valid Indian Visa

Address proof mentioning the current overseas address (any one)

Foreign Driving License
Documents issued by Govt. Deptt. of foreign jurisdictions i.e. National Identification Card, Green Card and Social Security Card etc. having Name and Address of the Foreign National.
Letter Issued by Foreign Embassies or Mission in India having Name and Address of the Applicant

(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	Certificate of Incorporation Memorandum & Articles of Association. PAN No. of the Company Resolution of the Board of Directors and Power of Attorney granted to its managers, officers or employees to transact on its behalf; and Any one of the OVDs and PAN/FORM60 of the managers, officers or employees, as the case may be, holding an attorney to transact on its behalf with his / her photograph
Accounts of Sole Proprietary firms.	(Any two of the following documents to be obtained) Registration Certificate Certificate/ license issued by the municipal authorities under Shop & Establishment Act, Sales and income tax returns, CST/ VAT/GST Certificate (Provisional/Final), Certificate / registration document issued by Sales Tax / Service Tax / Professional Tax authorities. IEC (Importer Exporter Code) issued to the proprietary concern by the office of DGFT or License/ certificate of practice issued in the name of proprietary concern by any professional body incorporated under statute Complete Income Tax return (not just the acknowledgement) in the name of Sole Proprietor where the Firm’s income is reflected, duly authenticated/ Acknowledged by the Income Tax Authorities. Utility bills such as electricity, water, and landline telephone bills in the name of the proprietary concern. In case where the branches are satisfied that it is not possible to furnish two such documents from the above list, they would have the discretion to accept only one of those documents as activity proof. In such cases, the branches would have to undertake contact point verification, collect information to establish the existence of such firm, confirm, and satisfy itself that the business activity has been verified from the address of the proprietary concern. AND Any one of the OVDs along with PAN/ FORM60 of the proprietor.
Accounts of Partnership firms. (Registered)	Registration certificate, Partnership deed; and PAN No. of the Partnership Firm, Any one of the OVDs and PAN/ FORM60 of the person holding an Attorney to transact on its behalf with his/ her photograph
Accounts of Trusts	Registration Certificate Trust Deed PAN/ FORM60 of Entity Any one of the OVDs and PAN/FORM60 of the person holding an Attorney to transact on its behalf with his/her photograph.
Accounts of Unincorporated Associations or body of individuals includes unregistered	Resolution of the Managing body of such association or body of individuals; PAN/ FORM60 of Unincorporated Associations or body of individuals Power of Attorney granted to transact on its behalf;
Partnership firm/ trusts and societies.	Any one of the OVDs and PAN/ FORM60 of the Office bearers / Signatories and persons holding Power of Attorney, if any with his/her photograph in respect of the person holding an Attorney to transact on its behalf; Any one of the below mentioned list of documents to collectively establish the legal existence of such an associations or body of individuals. Partnership Deed/ Trust Deed/ Bye Laws Certificate/ license issued by the municipal authorities under Shop & Establishment Act, Sales Tax Returns, CST/ VAT/ GST certificates (Provisional/ Final) Certificate/ registration document issued by Sales Tax/ Service Tax/ Professional Tax authorities. License/ certificate of practice issued in the name of proprietary concern by any professional body incorporated under statute. Complete Income Tax return (not just the acknowledgement) in the name of Sole Proprietor where the Firm’s income is reflected, duly authenticated/ Acknowledged by the Income Tax Authorities. Utility bills such as electricity, water, and landline telephone bills in the name of the concerns.
Accounts of Hindu Undivided Family	PAN Card of HUF. Declaration from the Karta. HUF Letter/ Declaration signed by all the coparcener and Karta. Any one of the OVDs and PAN/ FORM60 of the Karta with his / her photograph
Accounts of the Government or its Departments, societies, universities and local bodies like village panchayats etc.	Document showing name of the person authorized to act on behalf of the Government or its Departments, societies, universities and local bodies like village panchayats; Any one of the OVDs and PAN/FORM60 of the person holding an attorney to transact on its behalf and Any document to establish the legal existence of such an entity/ juridical person.
Account of Political Parties	Duly signed resolution of the working committee/ managing body as per bye- laws indicating details of the party president/ authorized signatory, tenure etc. PAN of the Political Party Power of Attorney granted to transact on its behalf; Duly authenticated copy of Constitution/ Bye laws of the Party Duly authenticated copy of Registration of Party with election commission Authority letter, on party letter head, from Party president/ Authorized signatory as per Bye-laws for opening of account mentioning address of the State Unit, Title of Account and operating instructions for authorized signatory with attestation of their signature and photograph. Any one of the OVDs and PAN/ FORM60 of the Office bearers / Signatories and persons holding Power of Attorney, if any with his/her photograph in respect of the person holding an Attorney to transact on its behalf;

Baroda Platinum Saving Bank Account : Interest rates & charges

For Interest Rates & Charges Please. Click Here

Baroda Platinum Saving Bank Account : Most Important Terms and Conditions (MITC)

All 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.

Minimum Quarterly Average Balance requirement

Metro/urban/semi-urban/rural: Rs. 1 lakh.

Computation: Minimum QAB requirement is calculated on the basis of summation of closing balance of number of days divided by the number of days. For purpose of arriving at quarterly average balance/minimum balance charges, the period of quarters are considered as 16th March to 15th June, 16th June to 15th September, 16th September to 15th December and 16th December to 15th March of a particular year.

Charges for Not Maintenance of Minimum Balance

Metro/Urban/Semi-Urban/Rural: Rs. 1,000+ GST per quarter.
If the balance remains below the benchmark level continuously for 3 months, the Bank will transfer this account to a normal savings bank account and shall recover the charges. All the facilities of Platinum Saving Bank account will be withdrawn.

Debit Card and Charges

Free Visa Platinum Debit Card, subject to maintenance of QAB.

Auto/Reverse Sweep

Sweep facility available on request only over & above Rs. 2 lakhs in multiple of Rs. 10,000 i.e. first sweep out for Rs. 10,000 will happen only when the account balance reaches Rs. 2,10,000. 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. 10,000 on LIFO pattern (last in first out).
However, for premature withdrawals of all deposits, interest will be paid one percent less than the rate which is applicable at the time of placing the deposit, for the period for which the deposit has actually run.

Rules for transfer/inter-sol transfer/clearing transactions and charges

Transfer transaction at the base branch: Allowed freely without any limit.
Transfer transaction at the 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 non-base branch (where neither drawer nor payee maintains account) on case to case basis subject to certain conditions.

Cash Deposit

For Rs. 50,000 and above PAN is required to be submitted as per the requirement of Income Tax.

At Cash Machines

Cash deposit with debit card up to Rs. 2 lakhs per day, where PAN is registered and Rs. 49,999, where PAN is not registered in account.
Cardless 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. Torne/mutilated/taped notes are not accepted by these machines.

Cash Withdrawal

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

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/semi-urban 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

Unlimited Cheque Books are free in a financial year, subject to maintenance of QAB.

Registration and execution of standing instructions

No charge within the same branch.
50 for any other branch within the Bank.
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 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. 1,000 + GST 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.

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.

SMS Alerts and Charges

SMS alerts are free of charges, subject to maintenance of QAB.

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.

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What is the minimum balance required in Baroda Platinum Saving Bank Account?

A minimum Quarterly Average Balance (QAB) of Rs. 1,00,000 needs to be maintained.
What is the Baroda Platinum Savings Account?

Baroda Platinum savings account is an account to provide benefits and services that will make banking convenient and simple for HNIs.
What is the interest rate of the Baroda Platinum Saving Bank Account?

The interest rate of the Baroda Platinum Saving Bank Account is the same as that of a normal savings account. Please visit the interest rates section of our website for the latest rates offered.
Why Baroda Platinum Saving Bank Account is best?
Below are the premium benefits given to the Baroda Platinum Savings Bank account holders:

No bar on daily cash withdrawal limits up to Rs. 1 lakh.

· Free personalized VISA Platinum Chip Debit Card.

Purchase limit of Rs. 2 lakhs per day.

Unlimited use of Internet banking or mobile banking.

50% waiver on issuance charges of gift and travel card

10% discount on annual locker charges

Waiver of 100% in DEMAT AMC charges, discount on charges from subsequent years in case account is operated with min QAB of Rs. 1 lakh in the preceding year