Convenient banking solutions for chosen few.
Baroda Platinum Saving Bank Account and get attractive benefits.
Interest rates & charges
Most Important Terms and Conditions (MITC)
Baroda Platinum Saving Bank Account : Benefits
- Cash Withdrawal limit up till Rs 1 lacs per day (ATM).
- Purchase limit: Rs. 2 lakhs per day (POS)
- Free unlimited NEFT/RTGS/IMPS
- Unlimited cheque books
- Sweep facility available on request
- No charges for cash deposit (base branch)
- No charges for cash deposit of up to Rs. 1 lakh per day (non-base branch)
- 50% waiver on issuance charges of gift card
- 50% waiver on issuance charges of travel card
- 10% discount on annual locker charges
- Free SMS/e-mails alerts
- No ledger folio charges
- 100% waiver on demat AMC charges
Baroda Platinum Saving Bank Account : Features
- Free Personalized VISA Platinum Chip Debit Card with following feature:
- Cash withdrawal limit up to Rs 50,000/- per day (ATM).
- 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||
|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 Platinum Saving Bank Account : Interest rates & charges
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.
- 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.
- 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.
- 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.
- 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.
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