Bank of Baroda Savings Account

Bank of Baroda provides an array of savings accounts to the customers, each carefully designed to suit individual needs. With Bank of Baroda Savings Accounts, customers will be able to easily track and manage their finances. BoB savings account can be accessed through any of the 5230 Indian branches or the ATMs. With personalized services, attractive features and other unique benefits, saving money will be a pleasure with Bank of Baroda savings account.

Revision of Interest Rates on Bank of Baroda Savings Bank Deposits

NOTE: The rates mentioned above are effective as of 12 February 2021.

How do I open a Bank of Baroda Savings Account?

A customer wishing to open a savings account with Bank of Baroda should submit the application form to any of the nearest physical branches. The applicant can download the application form from Bank of Baroda web portal and can submit it at a branch. Also, in case of queries, customers can make use of the “Inquiry” facility available on the Bank of Baroda website. The applicant must keep all necessary KYC documents like ID proof and address proof ready to complete the documentation formalities.

Types of Bank of Baroda Savings Account

The following types of savings account are offered by Bank of Baroda.

• Super Savings Account

  Offered to high value resident customers, this scheme is available in urban and metro centres. It brings many advantages to the account holder like free outstation cheque collection, reverse and auto reverse sweep facility and free issual of demand drafts.

• Baroda Pensioners Savings Bank Account

  With a minimum value of only Rs.5, this account can be opened. The cardholders will be offered features like Baroda Connect internet banking facility, accidental death insurance cover worth Rs.1 lakhs, immediate credit of outstation cheques and free debit card. Free unlimited cheque book facility is also available and all pensioners are eligible to apply for this scheme offered by Bank of Baroda.

• Baroda Mahila Shakti Saving Account

This scheme is offered to women who have a savings account in Bank of Baroda. If you are availing this scheme you will be able to enjoy higher interest rate with flexi-fixed deposit facility. Under this scheme there are attractive offers on beauty, lifestyle, groceries, etc. You can also avail a personal accidental insurance including a concessional interest rate on two-wheelers and educational loans.

• Baroda Senior Citizen Privilege Saving Account

If you are a resident of India and above the age of 60 years, then you can avail this scheme offered by Bank of Baroda. You are offered a 1st year free Visa Platinum Debit card with withdrawal limit up to Rs.1 lakh and purchase limit on PoS (Point of Sale) of up to Rs.2 lakh. You are also offered a 50% waiver on your processing fee if you avail a reverse mortgage loan from Bank of Baroda. You can make unlimited transactions from any Bank of Baroda ATM.

• Baroda Salary Privilege

You can avail this loan if your net monthly salary is Rs.2 lakh and above. Under this scheme, you are offered an Accidental Death Insurance Cover along with 100% waiver on the processing fee if you avail a housing loan, auto loan, education loan, mortgage loan, or a personal loan from Bank of Baroda. You are also eligible to receive a lifetime free Baroda Premier Credit Card with 5x reward points on availing this saving account scheme from Bank of Baroda.

• Baroda Salary Premium

You can avail this scheme if your net monthly salary is Rs.1 lakh and above but less than Rs.2 lakh. Under this scheme, you are offered an Accidental Death Insurance Cover along with 75% waiver on the processing fee if you avail a housing loan, auto loan, education loan, mortgage loan, or a personal loan from Bank of Baroda. You are also offered a lifetime free Baroda Premier Credit Card with 5x reward points on availing this scheme from Bank of Baroda.

• Baroda Salary Super

You can avail this scheme if your net monthly salary is Rs.50,000 and above but less than Rs.1 lakh. You are eligible to receive 50% waiver on the processing fee if you avail a housing loan, auto loan, education loan, mortgage loan, or a personal loan from Bank of Baroda including an Accidental Death Insurance Cover. You are also eligible to receive a discount of 10% on your locker rentals under this scheme.

• Baroda Salary Classic

This scheme is suitable for you if you are working at an entry level or a trainee in a company and your monthly salary is Rs.10,000 and less than Rs.50,000. Under this scheme you are eligible to receive an accidental death insurance cover along with 25% on the processing charge for housing loan, auto loan, education loan, mortgage loan, or a personal loan from Bank of Baroda.

• Baroda Advantage Savings Account

This is a zero-balance savings account for both salaried and self-employed individual. The customer can enjoy various features of this savings account and will also receive a debit card, cheque book, and a passbook. The lender pays all the interest on all the savings account, and I calculated daily. The interest is then transferred to your account on a quarterly basis.

• Baroda Champ Account

This savings account scheme can be availed by students between the age 0 year and 18 years. A low quarterly average balance of Rs.1,000 has to be maintained and the account can be used to pay the school fee and no charges are levied by the lender. The demand draft and NEFT/IMPS facility are free per month for the payment of school fee of up to Rs.1 lakh. There is no issuance charge levied on the issuing of debit cards, though renewal charges will be applicable. Students can avail the internet and mobile banking facility after the age of 15 years.

• Baroda Government Bodies SB Account

This savings account can be availed by self-help groups mainly by to variants – General Self-Help Group, and Self-Help Group for Women Empowerment. A minimum balance of Rs.1,000 must be maintained in order to avail the benefits of this savings account scheme.

• Baroda SB Self-Help Group

This savings account can be availed by self-help groups mainly by to variants – General Self-Help Group, and Self-Help Group for Women Empowerment. A minimum balance of Rs.1,000 must be maintained in order to avail the benefits of this savings account scheme.

• Baroda Platinum Savings Account

Under this account, no charges are levied in case cash is deposited at the base branch. You can withdraw cash of up to Rs.1 lakh in a day at an ATM. The purchase limit for a day is Rs.2 lakh. SMS and email alerts are given at no additional cost. You can transfer money via IMPS/NEFT/RTGS at no additional cost.

• Salary and Pension Solutions for Indian Military Personnel

Depending on the officer’s rank, a Silver, Gold, Diamond, or Platinum account may be provided. In case you opt for a home loan, the processing fee will be waived. Overdraft facility and Personal Accident Insurance (free of cost) will be provided.

Eligibility for Bank of Baroda Savings Account

Documents Required for Bank of Baroda Savings Account

Applicants will be asked to submit the following documents when opening a Bank of Baroda Savings account.

• Duly filled application form
• Passport size photographs
• Introduction as per bank norms.
• IT declaration
• ID and address proof like PAN card, voter card, passport, driving license etc.

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