For the nation’s bravery and honour

Open Salary and Pension Solutions for Indian Military Personnel Account and get unlimited benefits.

Salary and Pension Solutions for Indian Military Personnel

For your bravery and honour, we reward you with an account that lists multiple benefits

  • Benefits
  • Life Insurance Policy
  • Eligibility
  • Terms & Conditions

Maximum base PAI cover Rs. 40 lakhs

Higher education cover for graduation courses

Air tickets should be booked with our Bank’s debit card & Air Insurance could not be less than the base cover

Maximum Personal Accident Insurance Cover available is either 10 times of gross annual Income of the account holder or any of the above mentioned applicable insurance coverage, whichever is less

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 Bank’s ATM: Unlimited Free
  • Cash on mobile ATMs: Cardless cash withdrawal service from ATMs
  • Lifetime Free VISA Platinum Debit Card
  • Additional Free SELECT Variant of Rupay Debit Card for senior officials (Additional Rs. 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 a 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 Bank’s 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
  • 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 of credit card
  • Lifetime 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 the 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 prorated 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
  • Indian Army
  • Indian Air Force
  • Indian Navy
  • Indian Coast-Guard
For more details on Salary Accounts

For more details on Pension Accounts
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Select Saving Accounts Type
  • Baroda Advantage Saving Account
  • Super Savings Personal Account
  • Jeevan Suraksha Savings Bank Account
  • Baroda Champ Account
  • Baroda Mahila Shakti Saving Account
  • Baroda Pensioners Savings Bank Account
  • Baroda Platinum Saving Bank Account
  • Baroda Salary Classic
  • Baroda Salary Premium
  • Baroda Salary Privilege
  • Baroda Salary Super
  • Baroda Senior Citizen Privilege Saving Account
  • Baroda Police Forces Salary Package
  • Central Forces Salary Account
  • Salary and Pension Solutions for Indian Military Personnel
  • Salary and Pension Solutions
  • Baroda SB Self Help Group
  • Government Savings Account Baroda Gov Bodies SB Account
  • Others

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