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Salary Account for Indian Military Personnel


  • Indian Army
  • Indian Air Force
  • Indian Navy
  • Indian Coast-Guard


  • Personal Accident Death Cover `50 Lakhs * (On-duty `50 Lakhs and Off duty `40 Lakhs)
  • Permanent Total Disability cover ` 40 Lakhs*
  • Permanent Partial Disability cover ` 20 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 `2 Lakhs


  • Personal Accident Insurance cover 40 Lakhs*`
  • Permanent Total Disability 40 Lakhs*`
  • Permanent Partial Disability 20 Lakhs*`
  • Personal Accident Insurance cover for pensioners upto 70 years

* Important terms and conditions:

a. Maximum Base PAI cover Rs. 40 Lakhs

b. 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.

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

d. Higher Education cover for Graduation Courses.


  • Salary Overdraft up to `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


  • No. of transactions at other Banks ATM : Unlimited Free
  • Cash on Mobile ATM's: Card-less cash withdrawal service from ATM’s
  • 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 `50,000/- per day at BOB ATMs
  • Cash withdrawal limit at other Banks ATM as per RBI regulation
  • Purchase limit of `2 Lakhs per day (POS)


  • 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 FacilityBHIM Aadhaar Baroda Pay, BHIM App, Bharat Bill Payment services


  • Life time Free Credit Card subject to eligibility criteria. Different card variants based on salary band
  • Additional Air Accident Insurance in the range of `15 Lakhs to `50 Lakhs is available under all variants of Credit Card.

Life Insurance Facility


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.


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

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