The savings account that brings value for you

bob Professional Savings Account,
Savings Account that gives amazing offers

  • Benefits
  • Features
  • Eligibility
  • Documents Required
  • Interest Rates & Charges
  • Service Charges
  • Most Important Terms and Conditions (MITC)

bob Professional Saving Bank Account : Features

RuPay Select Debit Card will be issued to Primary A/c holder. All the benefits allowed in the Card will be available for the A/c holder.

    The RuPay Select Debit Card is having following features at present:

  • Daily cash withdrawal Rs. 1, 50,000 from ATM.
  • Daily POS/E-commerce transactions Up to Rs 5, 00,000.
  • Card can be used for domestic as well as international transactions.
  • Personal accident and total disability cover of Rs. 10 lakhs.
  • Complimentary domestic and international lounge access.
  • Complimentary one spa session free at O2/Aroma Thai/Four Fountain/Kairali Ayurvedic.
  • Complimentary membership in Gold’s Gym/Talwalkar Gym.
  • Discounted access to Golf session.
  • Complementary/discounted health check-up facility – SRL Diagnostic/Thyrocare

For latest features please visit Rupay Select Debit Card

bob Professional Saving Bank Account : Eligibility

    Professionals holding government approved Degree or above, and qualified as:

  • Doctor in any branch of Medicine

  • B. Tech / M. Tech / BE / ME / Architect / Engineer

  • CA / ACCA / ICWA / CFA / CS / CFM


bob Professional Saving Bank Account : Documents Required

  • Applicable documents for opening Savings account as per extant guidelines
  • Professional Qualification Certificate

bob Professional Saving Bank Account : Interest Rates & Charges

Charges for non- maintenance of minimum QAB
Rs. 500/- + GST per Quarter.

bob Professional Saving Bank Account : Service Charges

Rest Charges as per Bank’s Service Charges Schedule. Click Here

bob Professional 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. 25,000/-

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. 500+ GST per quarter.
  • if the QAB balance remains below the benchmark level for previous quarter, all the facilities of Professional Savings Bank account will be withdrawn (Scheme code to be changed to SB101 or as desired by the customer) and customer has to pay all the charges waived as per Schedule of Charges applicable.
  • System will automatically pass the benefits in subsequent quarter if customers maintain their QAB.

Debit Card and Charges

  • Free issuance of Rupay Select Debit Card, for Annual charges, refer to schedule of charges.(link to be pasted here )

Additional Debit Card

VISA Platinum Card, based on customer request for additional Account holder and charges to be borne by the customer.

Charges to be borne by the Client. 

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).

Cheque Book Charges

  • 50 Cheque leafs are free in a financial year.

Door Step Banking Services    

  • One free service in a month through PSB DSBS in available locations on QAB above of Rs.1.00 Lacs.

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. 500 + 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.

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.

Frequently Asked Questions (FAQs)

  • What is the bob Professional Saving Bank Account?

    The Baroda Professional Saving Bank Account is a specialised savings account offered by Bank of Baroda. It is designed to cater to the banking needs of professionals such as doctors, engineers, architects, chartered accountants, lawyers, and other self-employed individuals. This account provides various benefits like higher transaction limits, personalised cheque books, and access to a range of banking services.

  • Who is eligible to open a bob Professional Saving Bank Account?

    The Baroda Professional Saving Bank Account is available to qualified professionals with a government-approved degree or higher qualification in the following fields:

    • Doctors in any branch of Medicine.
    • Individuals with qualifications such as B. Tech / M. Tech / BE / ME / Architect / Engineer.
    • Professionals with qualifications such as CA / ACCA / ICWA / CFA / CS / CFM.
    • Those with degrees such as MCA / MBA / PGDBA / PGDBM LLB/LLM.
  • Can I convert my existing savings account into a bob Professional Saving Bank Account?

    Yes, as Bank of Baroda, we offer the option to convert your existing savings account into a Baroda Professional Saving Bank Account. This specialised account is designed to cater to the unique banking needs of professionals. To convert your account, you can visit our nearest branch or contact our customer service for further assistance.

  • Is there a minimum balance requirement for the bob Professional Saving Bank Account?

    Yes, there is a minimum balance requirement for the Baroda Professional Saving Bank Account. Customers are required to maintain a Minimum Quarterly Average Balance (MQAB) of Rs. 25,000/-. This balance must be maintained on a quarterly basis to avoid any charges or penalties.

  • Is there a fee or charge for opening and maintaining the bob Professional Saving Bank Account?

    No fees or charges are present for opening and maintaining the Baroda Professional Saving Bank Account

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