BARODA POLICE FORCES SALARY PACKAGE
Eligible Institutions
- Railway Protection Force
- National Disaster Response Force
- Central Bureau of Investigation
- State Police Forces
- State Home Guards
- Special Security Forces
BENEFITS UNDER PERSONAL ACCIDENTAL INSURANCE FOR SALARIED PERSONNEL
- Personal Accident Death Cover 37.50 Lakhs *(On-duty 37.50 Lakhs and Off duty 30 Lakhs)
- Permanent Total Disability Cover 30 Lakhs*
- Permanent Partial Disability Cover 15.00 Lakhs*
- Air Accident Insurance cover upto 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 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 30 Lakhs*Rs.
- Permanent Total Disability 30 Lakhs*Rs.
- Permanent Partial Disability 15 Lakhs*Rs.
- Personal Accident Insurance cover for pensioners upto 70 years
* Important terms and conditions
- Maximum Base PAI cover Rs. 30 Lakhs
- 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.
- Air tickets should be booked with our Bank’s debit card & Air Insurance could not be less than base cover.
- Higher Education cover for Graduation Courses.
# T&C Apply
*subject to approval as per extant guidelines of Bank
BENEFITS IN RETAIL LOANS
- Salary Overdraft up to Rs.3.00 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 ATM's: Card-less cash withdrawal service from ATM’s
BENEFITS IN DEBIT CARD
- 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 Debit card at all major stores
Debit Card Limits
- Cash withdrawal limit - Maximum Rs.50,000/- per day at BOB ATM
- 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.
Life Insurance Facility
Eligibility
All Customers in 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 yrs can avail the facility of Life Insurance Cover from “IndiaFirst Life Insurance Co. Ltd” (IFLIC) upto an amount of Rs.5.00 lac after payment of required premium and submission of simple Health Declaration Form (DOGH)
Sum Assured
The Sum assured starts at a minimum of Rs.1.00 lac and goes up to Rs.5.00 lacs (in multiples of Rs. 1.00 lac). Under the Scheme, Only one insurance cover per person shall be allowed.
Periodicity
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 prorata basis only for the year in which the insurance is subscribed as per details mentioned below:
Premium Table
| Insurance Premium Chart - 1 Lac |
|
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 |
253 |
704 |
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 second year onwards the premium for the full year will be auto debited at central level in the month of January.
Insurance cover shall be available only till the Savings Account is active and Premium amount once collected shall not be refunded even if the account is closed.
Interest Calculation and Frequency
Interest is calculated on daily product basis and credited to accounts quarterly. For this purpose Bank’s quarters are May-July, August to October, November to January and February to April. Interest is credited to the account within 15 days of end of quarter. However, 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 withdrawal form along with passbook is allowed for self only with per day limit of Rs. 25000/- (Minimum Rs. 25/- in Rural/SU and Rs. 50/- in Metro/Urban)
Passbook and statement of account
Free Pass Book
Rs. 100/-- per duplicate Pass Book / Statement with latest balance only.
Transfer of Account/ Scheme
Upon submission of application along with pass book and unused cheque leaves the account can be transferred to another branch/ scheme free of charge.
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 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 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 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.
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).
Terms & Conditions
For more details on Salary Accounts
please e-mail us at: liabilities.corp.bcc@bankofbaroda.com
For pension accounts: cppc.delhi@bankofbaroda.com