Baroda Jeevan Suraksha Saving Account

• The product shall be available at all our branches irrespective of area classification.
• Any resident individual who has attained the age of 18 years and has not completed the age of 70 years can open his account under this scheme and 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).
• Accounts can be opened in single name as well as in joint names (maximum two) and both the account holders can also be covered under insurance subject to submission of requisite papers and payment of premium in respect of both the account holders.
• Existing Savings bank accounts can also be converted into “Baroda Jeevan Suraksha Savings Bank Account” while retaining the same account number.
• Opening of account by Minimum Rs. 1,000 only.
• Minimum Balance Rs. 1000/- on Daily Balance Basis.

• Saving Bank If Average Quarterly Balance - above Rs.2.00 lacs – No Charge	Personalised Cheques – If average balance upto Rs.2 lac Rs.5 per Chq. Book leaves. (*30- leaves will be not chargeable in a financial year.
  Non Personalised Cheques – (30 leaves per calendar year not chargeable) Beyond that Rs.3.00 per leaf. *Total 30 leaves will be free for financial year for personalized and non personalized cheque book

• Facility of getting life insurance cover from “IndiaFirst Life Insurance Co. Ltd” up to an amount of Rs. 5 lakhs (minimum Rs. 1 lakh and thereafter in multiples of Rs. 1 lakh) without any medical examination and only against submission of Declaration of Good Health (DOGH), at the cost of customer at following premium rates:

• Insurance cover is annually renewable after payment of premium. Age will be calculated as completed years on last date of birth. At the time of opening of account, only one option for choosing the amount of insurance cover will be available and no other option can be exercised in future to change the sum insured. There will not be any grace period for renewal of cover and the customer will be required to maintain sufficient balance in his account for payment of insurance premium for renewal of cover.
• Amount paid by the customer towards insurance premium is admissible for deductions under Section 80 C of Income Tax Act. Only one insurance cover per person shall be allowed. In case of Joint Accounts, premium amount will be paid separately for each of joint account holder.

Transactions of saving oriented nature are permitted. Commercial transactions are non-allowable transactions. If non-allowable transactions are noticed, then bank may close the account with prior notice/intimation citing reasons thereof. Any resident individual who has attained the age of 18 years and has not completed the age of 70 years can open account under this scheme and avail the facility of Life Insurance Cover from IndiaFirst Life Insurance Co. Ltd (IFLIC) up to an amount of Rs. 5,00,000/- lakhs after payment of required premium and submission of Good Health Declaration Form (DOGH). Accounts can be opened in single name as well as in joint names (maximum two).

Minimum Balance Requirement

• 1000 on Daily Basis.

Charges for Non Maintenance of Minimum Balance

• 100/- per quarter will be levied.

Cash Deposit

• At Base/local Non-Base Branch
  1. Any amount - Free of Charge.
• At Out-Station Branches
  1. Free up to Rs. 30,000/- per day per account, thereafter chargeable @ Rs. 2.50 plus GST per thousand or part thereof.
• At Cash Machines
  1. Cash deposit with Debit Card up to Rs. 2,00,000/- per day is allowed where PAN is registered and Rs. 49,999/- where PAN is not registered in account.
  2. Card less transaction (by feeding account number) is allowed up to Rs. 20,000/- per day.

Cash Withdrawal

• At Base/Local Non-Base and Outstation Branches: No Charges.
• Maximum Rs. 50,000/- per day withdrawal allowed to A/c holder only at outstation branches.
• Third party cash payment at local non-base branches and outstation branches is totally restricted.

Withdrawals & 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 only 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.
• 100/- per duplicate passbook/statement with latest balance only.

Cheque Book Charges

• Saving Bank If Average Quarterly Balance - above Rs.2.00 lacs – No Charge.	Personalised Cheques – If average balance upto Rs.2 lac Rs.5 per Chq. Book leaves. (*30- leaves will be not chargeable in a financial year.
  Non Personalised Cheques – (30 leaves per calendar year not chargeable) Beyond that Rs.3.00 per leaf. *Total 30 leaves will be free for financial year for personalized and non personalized cheque book

Registration and Execution of Standing Instructions

• No charge within the Bank and Rs. 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

• All the authorized signatories of the account will give in writing with his/her/their intention to close the account. The relative passbook, debit card and the unused leaves should be surrendered along with the letter requesting closure.
• In case of premature closure of the account no charges will be levied if the account is closed within 14 days of first customer induced credit into the account. However, charges @ Rs. 200 is levied if account is closed beyond 14 days but within 1 year of the first customer induced transaction. However, 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 Accounts for over a period of Two Years.
• Interest is continued to be applied in all such savings bank accounts.
• No charges are levied for 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.

SMS Alerts and Charges

• Charges @ Rs. 15 per quarter are levied.

Nomination

• Nomination facility available.

Auto/Reverse Sweep Facility

• Auto sweep out will happen beyond threshold limit of Rs. 5,000/- to Short Deposit of 180 days in multiple of Rs. 5,000/- and case of requirement in SB A/c auto Reverse Sweep in multiple of Rs. 1,000 on LIFO Pattern (last in first out).
• However, for premature withdrawals of all deposits, interest will be paid one per cent less than the rate which is applicable at the time of placing the deposit, for the period for which the deposit has actually run.
• Sweep will take place on every Monday.

Debit Card Charges

• Free Debit Card for the 1^st Year then Std. Charges will be levied.

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 account. However, for genuine transactions, branch head is authorized to allow transactions at non-base branch (where neither drawer nor payee maintains account) on case to case basis subject to certain conditions.
• There are no charges for Inter-sol transfer transactions.

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, 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 upto Rs 5,00,000( Rs 5 lakh).