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Baroda Pensioners Savings Bank Account

The Baroda Pensioners Savings Bank Account is available to pensioners. The account is designed to provide all the banking facilities and benefits to pensioners. Customers can enjoy a free debit card, unlimited cheques, auto sweep facility, overdraft facility and much more. The account also has a nomination facility. Bank of Baroda offers the BOBCARD Silver for the 1st year with complimentary accident insurance.

Features of Pensioners Savings Bank Account

The Pensioners Savings Account offered by Bank of Baroda has various benefits. Listed below are some of the important features of the Baroda Pensioners Savings Bank Account:

Initial Deposit

To open this account, you need to deposit only Rs.5 minimum.

Auto sweep Facility

Account holders can auto sweep out any amount beyond the threshold limit of Rs.3,000 to a short deposit of 180 days. The auto sweep is done in multiples of Rs.1,000. In case the savings account falls below the minimum balance, then a reverse sweep in multiples of Rs.1,000 will take place in a pattern of last in first out.

Overdraft Facility

Pensioners can avail overdrafts for an amount of up to 2 months’ pension as per the net credit to the savings bank account in the previous month. This facility is available if no other credit facility has been taken.

Cheque book facility

Cheque books are offered to account holders free of charge. Pensioners are entitled to an unlimited supply of cheque leaves. This is not applicable to an illiterate pensioner.

Debit Card

Get a free debit card with this account. Enjoy access to cash withdrawals, balance enquiries and other transactions at ATMs. Customers can also pay for their purchases with their debit card at merchant and retail stores.

Online Banking

Customers can enjoy access to online banking, paying utility bills and shopping online at their own convenience.

Credit Card

The BOBCARD Silver is offered to customers free of cost for the first year. Customers can enjoy the facility of a credit card which enables them to buy now and pay later.


Accidental death insurance of Rs.1 lakh is provided under the BOBCARD scheme.

Interest Rate

Interest on the savings account balance is computed at 4% p.a.


Depositors can nominate someone to receive the proceeds from the savings account.

Outstation Cheque

Enjoy immediate credit of outstation cheques for up to Rs.25,000.


To open this account, you must fulfill the following criteria set by Bank of Baroda:

  • Pensioners are eligible to open this account
  • Bank of Baroda staff pensioners are also eligible to open this account

How to apply

To open this bank account, you need to visit any Bank of Baroda branch close to you. Fill in the application form and submit it along with the required documents. If you meet the eligibility criteria and all documents are in order, Bank of Baroda will open the account for you. You need to make an initial deposit of a minimum of Rs.5. Your pension will need to be deposited to this account.

Documents required

You will be required to submit the following documentation to meet the KYC norms:

  • Recent passport size photograph
  • ID Proof such as driver’s licence, passport, Aadhar card, Voter ID, PAN card, etc.
  • Address Proof such as driver’s licence, passport, Aadhar card, Voter ID, ration card, utility bills, etc.
  • Proof of retirement might be required
  • Any other document requested by the bank

Fees and Charges

Given below are some of the important fees and charges associated with the Baroda Pensioners Savings Bank Account Account:

Particulars Charges
Initial Deposit Requirement Nil
Opening Account Charges Nil
Cheque Book Free
Passbook First book is free. Rs.100 per subsequent pass book
Statement with latest balance Rs.100
Minimum Balance Requirement Nil
Premature closure of account within 1 year Rs.200 plus service tax
Inoperative Account Charges Nil
Nomination First nomination is free. Changes or modification cost Rs.50.
Outstation Cheque Rs.25 to Rs.250
Debit Card Annual Fee Rs.100 p.a. Waived for the first year
Add on Debit Card Rs.100 p.a. Waived for the first year
Debit Card replacement Rs.200
Debit Card Renewal Fee Free
Transactions at Bank of Baroda ATMs Free
Transactions at other ATMs
  • First 3 transactions free at metro cities
  • First 5 transactions free at other areas
  • Rs.20 for financial transactions
  • Rs.10 for non-financial transactions
Debit Card PIN regeneration Rs.150

Pensioners Savings Bank Account FAQs

  1. Can I apply for this account if my pension is being credited to another bank account?

    As per the information available, if you open the Baroda Pensioners Savings Bank Account, your pension needs to be credited to this account.

  2. I have a BOB pensioners loan running. Can I take an overdraft on this account

    No. If you have any other credit line with Bank of Baroda, you will not be eligible for an overdraft.

  3. I have lost my debit card, what should I do?

    If you have lost your debit card, you need to inform Bank of Baroda immediately. You can do so by calling the customer care service. You can also inform them at the bank branch. Your card will be blocked to ensure there is no misuse. You will be issued a new debit card.

  4. I have forgotten my debit card PIN. How do I get a new one?

    If you have forgotten your debit card PIN, you can request for a new one from Bank of Baroda. A fee of Rs.150 is applicable. If you remember your old PIN and need to change it, you can do so at any ATM free of charge.

  5. Can I change my nominee?

    Yes, you can change your nominee listed under the Pensioners Savings Account. You need to place a request at the bank branch. You can also do this through your online banking account. A fee of Rs.50 is applicable.

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.

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