A salary account that equals as status.
Open Baroda Salary Privilege Account and get attractive benefits.
Baroda Salary Privilege
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Benefits
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Features
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Eligibility
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Documents Required
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Most Important Terms and Conditions (MITC)
Baroda Salary Privilege : Benefits
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Relationship manager for assistance
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Overdraft facility up to Rs. 3 lakhs
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100% waiver on processing charges of retail loans
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Lifetime free Baroda Premier credit card
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Discount on locker rentals
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Discount on depository services
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Complimentary zero balance account for spouse
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Sweep facility available on request
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75% waiver on issuance charges for gift/travel card
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Free alerts
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100% Discount on Depository Services / Demat AMC
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Baroda Salary Privilege : Features
- Overdraft Facility
- Maximum –Rs 3 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 VISA Platinum Debit Card for life.
- Daily Cash Withdrawal limit Rs 100000 and Online Purchase limit is Rs 200000.
- 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 Manager with Wealth Management advisory services available on phone.
Baroda Salary Privilege : Eligibility
Salary Band: Net monthly salary credit more than Rs. 2 lakhs.
Suitable for: Top management.
Baroda Salary Privilege : 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 |
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Deemed Officially Valid Documents, In case OVD does not contains current/ updated address. (At least one document from the list is Required.) |
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In case of Foreign Students |
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For NRI / Foreign Tourist For PIO/OCI |
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For Foreign Nationals |
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Address proof mentioning the current overseas address (any one) |
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(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 |
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Accounts of Sole Proprietary firms. |
(Any two of the following documents to be obtained)
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Accounts of Partnership firms. (Registered) |
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Accounts of Trusts |
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Accounts of Unincorporated Associations or body of individuals includes unregistered |
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Partnership firm/ trusts and societies. |
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Accounts of Hindu Undivided Family |
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Accounts of the Government or its Departments, societies, universities and local bodies like village panchayats etc. |
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Account of Political Parties |
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Baroda Salary Privilege : Most Important Terms and Conditions (MITC)
Salary Band
- Net monthly salary credit more than Rs. 2 lakhs.
Eligibility
- Age of the applicant should be 18 years and above.
Suitable for
- Top 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.
Cheque Books
- Free 150 Cheque leaves per year, thereafter Std. Charges will be applicable.
Remittance
- NEFT/RTGS free for Online & through Branch.
Inbuilt Overdraft Facility
- Available immediately after first Salary Credit.
- Amount of overdraft is equivalent to the net credit of first salary rounded off to the nearest figure in thousands.
- Maximum: Rs. 3 lakhs.
- Clean overdraft.
- Overdraft is to be adjusted in full once in 60 days of availing the same.
Demand Draft/Banker's Cheque
- Six DD/BC free per quarter for personal use. Maximum amount Rs. 5 lakhs.
Internet Banking/Mobile Banking
- Free
Debit Card
- Free VISA Platinum Debit Card for life.
- Daily cash withdrawal limit is Rs.1,00,000 and online purchase limit is Rs. 2 lakhs.
Waiver in Processing Charges on Retail Loans
- 100 % waiver on processing charges for housing loan, auto loan, education loan, mortgage loans and 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 has 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.
Lockers
- 20% discount on Locker Rentals.
Other Benefits
- Free alerts.
- Sweep facility available on specific request.
- 75% waiver on issuance charges for gift/travel card
- bobWorld (Mobile Banking)
Relationship Manager
- RM with Wealth Management Advisory Services.
A/c Opening
- Fully digitised
A/c Activation
- Instant
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.
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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