An account that goes beyond saving. It empowers.
“Open Baroda Salary Premium Account and get attractive benefits”
Interest Rates and Charges
Life Insurance Policy
Most Important Terms and Conditions (MITC)
Baroda Salary Premium Account Benefits
- Relationship manager for assistance
- Overdraft facility up to Rs. 2 lakhs
- 75% waiver on processing charges of retail loans
- Lifetime free Baroda Premier credit card
- Discount on locker rentals
- Discount on depository services
- Complimentary zero balance account for spouse
- Sweep facility available on request
- 75% waiver on issuance charges for gift/travel card
- Free alerts
- 100% waiver in Processing charges for Personal Loan
- 100% Discount on Depository Services / Demat AMC
Baroda Salary Premium Account Features
- Overdraft Facility
- Maximum –Rs 2 lacs.
- Discounts on locker rentals, demat AMC, debit card issuance and renewal fee and issuance fee of prepaid cards.
- Free remittance facility on RTGS/NEFT/IMPS.
- Waiver on processing charges on retail loans.
- Discounts on the issuance of DD/BC.
- Debit Card Variant & Annual Fee.
- Free Rupay Platinum Debit Card for first year, thereafter chargeable @ Rs 150+ applicable taxes per year.
- Daily Cash Withdrawal limit Rs 50,000 and Online Purchase limit is Rs 1,00,000.
- Inbuilt Accidental Insurance of Rs 2 lacs. Attractive offers linked to Debit card.
- Free lifetime Premier variant of Credit card subject to eligibility criterion of minimum income of Rs 60000/month and signing of auto debit mandate for debit of minimum due amount on card from salary account.
- Complementary Air Accidental Insurance of Rs 50 lac and other Accidental Insurance cover of Rs10 lacs (Insurance linked to credit card).
- Relationship Managers available on phone.
Baroda Salary Premium Account Eligibility
Salary band: Net monthly salary credit between Rs. 1 lakh and less than Rs. 2 lakhs.
Suitable for Middle management.
Baroda Salary Premium 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 Salary Premium Account Interest Rates and Charges
Baroda Salary Premium Account Life Insurance Policy
All customers belonging to the age group of 18-70 are eligible to avail Life Insurance benefits. Any resident individual who has attained the age of 18 years and has not completed the age of 70 years can avail the facility of Life Insurance Cover from IndiaFirst Life Insurance Co. Ltd (IFLIC) up to an amount of Rs. 5 lakhs after payment of required premium and submission of simple Health Declaration Form (DOGH).
The sum assured starts at a minimum of Rs. 1 lakh and goes up to Rs. 5 lakhs (in multiples of Rs. 1 lakh).
Under the scheme, only one insurance cover per person shall be allowed.
Period of insurance is one year from 01st January to 31st December every year and is annually renewable. In case of those accounts which are opened in due course in the middle of the year, the premium shall be paid on a prorated basis only for the year in which the insurance is subscribed as per details mentioned below:
|Insurance premium chart: Rs. 1 lakh|
|Age in Years|
|Month of joining the Scheme||Premium (Inclusive of GST) with effect from 01/01/2020||Coverage in Months|
From the second year onwards, the premium for the full year will be auto-debited at central level in January.
Insurance cover shall be available only till the savings account is active and the premium amount once collected shall not be refunded even if the account is closed.
Baroda Salary Premium Account Most Important Terms and Conditions (MITC)
Baroda Salary Premium (SB176): Net monthly salary above Rs. 1 lakh to Rs. 2 lakhs
- Net monthly salary credit between Rs. 1 lakh to Rs. 2 lakh.
- Age of the applicant should be 18 years and above.
- Middle management
Minimum Deposit Amount
- Allowed to open with zero balance subject to immediate salary credit in the following month.
Minimum Quarterly Average Balance QAB
- Zero Balance Account.
Charges for non-maintenance of QAB
- Not applicable as account type is Zero Balance Account.
- Free 100 cheque leaves per year, thereafter Std. Charges will be levied.
- NEFT/RTGS free for Online & through Branch.
- Available immediately after first salary credit.
- Amount of overdraft equivalent to the net credit of first salary rounded off to nearest figure in thousands.
- Maximum: Rs. 2 lakhs.
- Clean overdraft.
- Overdraft is to be adjusted in full once in 60 days of availing the same.
Demand Draft/Banker's Cheque
- Five DD/BC free per quarter for personal use. Maximum amount Rs. 3 lakhs per quarter.
Internet Banking/Mobile Banking
- Free Rupay Platinum Debit Card for first year, thereafter std. charges will be levied.
- Daily cash withdrawal limit Rs. 50,000/- and online purchase limit is Rs. 1 lakh.
Waiver in Processing Charges on Retail Loans
- 75% waiver on processing charges for housing loan, auto loan, education loan and mortgage loans. 100% waiver in processing charges for personal loan.
- Subject to the recovery of minimum Rs. 7,500 per property * to be mortgaged as out of pocket expenses (for legal, valuation etc.).
* Applicable on mortgage based retail loans.
Concession in Rate of Interest for Auto Loans
- For the employees who have availed home loan, a concession of 0.25% in applicable ROI of auto loan.
Discount on Depository Services/Demat AMC
- Waiver of 100% in charges.
- 15% discount on locker rentals.
- Free alerts.
- Sweep facility available on specific request.
- 75% waiver on issuance charges for gift/travel card.
- Free Mobile Banking.
- Relationship managers available on call.
- Fully digitised
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.
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.