Baroda Salary Privilege

Eligibility

All customers within the age group of 18-70 are eligible to avail the 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 the payment of required premium and submission of simple Health Declaration Form (DOGH)

Sum Assured

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.

Periodicity

Period of insurance is one year from 1st 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, premium shall be paid on prorata basis only for the year in which the insurance is subscribed as per details mentioned below:

Premium Table

From second year onwards, the premium for the full year will be auto-debited at the central level in the month of 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.

Salary Band: Net monthly salary credit more than Rs. 2 lakhs.
Age of the applicant: 18 years and above.
Suitable for: Top management.

Baroda Salary Privilege (SB177): Net monthly salary more than Rs. 2 lakhs

DICGC Insurance Cover

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 lakh.

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.

KYC Norms

Aaadhar is must as KYC to open account under the scheme. One proof of Address and Proof of Identity is required.

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 Rs. 5 per leaf.

Interest Payable in SB

3.25% for balances up to Rs. 50 lakhs and 3.75% for balances above Rs. 50 lakhs.

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 lakh and online purchase limit is Rs. 2 lakhs, attractive offers linked to debit card.

ATM Withdrawals

• Free unlimited transactions at Bank of Baroda ATMs.
• Other Bank’s ATM: 5 free transactions per calendar month.

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.

Credit Card

Free Premier Credit Card subject to eligibility criterion of minimum income of Rs. 60,000 month and signing of auto-debit mandate for debit of minimum due amount on card from the salary account.

*Insurance Only for Primary Card Holder* (Insurance linked to credit card)

Complimentary Air Accidental Insurance of Rs. 50 lakh and other accidental insurance cover of Rs. 10 lakhs.

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
• Free M-Connect.
• Baroda Rewardz Program.

Relationship Manager

RM with wealth management advisory services.

A/c Opening

Fully digitised

A/c Activation

Instant