We value your valour

Open Central Forces Salary Account and get unlimited benefits.

Salary and Pension Solutions for Indian Central Forces Personnel

We value your valour! Offering our central forces salary overdraft up to 3 lakhs

  • Benefits
  • Life Insurance Policy
  • Eligibility

Benefits under personal accidental insurance for salaried personnel
  • Personal accident death cover of Rs. 43.75 lakhs* (on-duty Rs. 43 .75 lakhs and off-duty Rs. 35 lakhs)
  • Permanent total disability cover of Rs. 35 lakhs*
  • Permanent partial disability cover of Rs. 17.50 lakhs*
  • Air accident insurance cover up to Rs. 100 lakhs*
  • Inclusion of deaths in active operations in Personal Accident Insurance
  • Personal accident insurance cover age between 18-60 years
  • Girl child marriage cover (18-25 years) 10% of Base PAI cover*
  • Higher education cover 10 % of Base PAI cover*
  • Transportation of dead body - Actual cost or Rs. 50,000 whichever is lower
  • Cost of plastic surgery/burn Rs. 2 lakhs

Pensioners of the above forces will be eligible for following insurance coverage
  • Personal accident insurance cover of Rs. 35 lakhs*
  • Permanent total disability Rs. 35 lakhs*
  • Permanent partial disability Rs. 17.50 lakhs*
  • Personal accident insurance cover for pensioners up to 70 years

*Important terms and conditions

e. Maximum Base PAI cover Rs. 35 lakhs
f. Maximum personal accident insurance cover available is either 10 times of gross annual income of account holder or any of the above mentioned applicable insurance coverage, whichever is less.
g. Air tickets should be booked with our Bank’s debit card & air insurance could not be less than base cover.
h. Higher education cover for graduation courses.

Benefits in retail loans
  • Salary overdraft up to Rs. 3 lakhs
  • 100% waiver on processing charges in housing loan, auto loan, education loan, mortgage loans and personal loan
  • Concession of 0.25% in applicable ROI of auto loan for the account holders who have availed home loan

Benefits in ATM transactions
  • No. of transactions at other banks’ ATM: Unlimited Free
  • Cash on mobile ATMs: Card-less cash withdrawal service from ATMs

Benefits in debit card
  • Lifetime free VISA Platinum Debit Card
  • Additional free Select variant of Rupay debit card for senior officials (additional 10 lakhs personal accident insurance cover under SELECT debit card)
  • On the Fly debit card EMI - Pre-approved personal loan with easy EMI on swipe of debit card at all major stores

Debit card limits
  • Cash withdrawal limit - Maximum Rs. 50,000 per day at BOB ATMs
  • Cash withdrawal limit at other banks’ ATM as per RBI regulation
  • Purchase limit of Rs. 2 lakhs per day (POS)

Other benefits
  • Free remittances - NEFT/RTGS for online or through branch
  • Free mobile banking & internet banking
  • Free unlimited demand draft/banker cheque
  • Lockers - 50% discount on locker rentals
  • 100% waiver in demat annual maintenance charges
  • 75% waiver on issuance charges for gift and travel card
  • Baroda M-Invest mobile app available for investing online in various mutual funds
  • Online FDR opening: Facility of opening fixed deposit online through mobile banking and internet banking is available
  • Digital mode of Payment Facility: BHIM Aadhaar Baroda Pay, BHIM App, Bharat Bill Payment services

Benefits in credit card
  • Life time free credit card subject to eligibility criteria. different card variants based on salary band.
  • Additional air accident insurance in the range of Rs. 15 lakhs to Rs. 50 lakhs is available under all variants of credit card.

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).

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.


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, premium shall be paid on a prorata basis only for the year in which the insurance is subscribed as per details mentioned below:

Premium Table
Insurance premium chart: Rs. 1 lakh
Age in Years
18-35 36-50 51-59 60-70
Month of joining the Scheme Premium (Inclusive of GST) with effect from 01/01/2020 Coverage in Months
Jan 138 276 768 1,975 12
Feb-20 127 704 768 1,811 11
Mar-20 115 230 640 1,646 10
Apr-20 104 207 576 1,482 9
May-20 92 184 512 1,317 8
Jun-20 81 161 448 1,153 7
Jul-20 69 138 384 988 6
Aug-20 58 115 320 823 5
Sep-20 46 92 256 659 4
Oct-20 35 69 192 494 3
Nov-20 23 46 128 330 2
Dec-20 12 23 64 165 1

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.

Interest Calculation and Frequency

Interest is calculated on a daily product basis and credited to accounts quarterly. For this purpose, Bank’s quarters are May-July, August-October, November-January and February-April. Interest is credited to the account within 15 days at the end of the quarter. However, the value date effect as of 1st day of the month is given while crediting interest.

Withdrawal(s) & use of Withdrawal Form (Slip)

Withdrawals will be allowed either by withdrawal forms or by cheques. Payment against the withdrawal form along with passbook is allowed for self only with per day limit of Rs. 25,000 (Minimum Rs. 25 in Rural/SU and Rs. 50 in metro/urban)

Passbook and statement of account

Free passbook. Rs. 100 per duplicate passbook/statement with latest balance only.

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.

Dormant/Inoperative Account
  • The account becomes inoperative/dormant, if there are no customer-induced transactions in the 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.

Nomination Facility

Nomination facility is available.

Rules for transfer/inter-sol transfer/clearing transactions and charges
  • Transfer transaction at base branch: Allowed freely without any limit.
  • Transfer transaction at 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 a non-base branch (where neither drawer nor payee maintains account) on case to case basis subject to certain 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 to prevent frauds, or in public interest, without a 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, of 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 the Deposit Insurance & Credit Guarantee Corporation (DICGC) maximum up to Rs. 5 lakhs.
Eligible Forces
  • Assam Rifles
  • Rashtriya Rifles (RR)
  • GREF (Border Roads Organization (BRO)
  • Border Security Forces (BSF)
  • Indo-Tibetan Border Police
  • National Security Guard
  • Sashastra Seema Bal
  • Central Industrial Security Force

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