Bank of Baroda Saving Account

Last Updated 15th Jun 2020

Bank of Baroda Savings Account Interest Rate India Jul 2020

Bank of Baroda BOB Savings Account
Interest Rate Upto Rs. 1 Lakh : 3.00%
Above Rs. 1 Lakh : 2.75% annually Check Best Schemes
Minimum Account Balance QAB Rs. 500 and Rs. 1,000 for rural and urban respectively. Zero balance facility only for salaried employees in Central/ State Govt. Public and Private Limited Companies, Agents of Life and General Insurance Corporations and Students
Debit Card ATM cum Debit Card
  • Provision for nomination
  • Deposits are insured by DICGC
  • Opening of account minimum Rs. 500 in rural/semi urban and minimum Rs. 1,000 in urban areas

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Saving Account in Bank of Baroda – Benefits

You get the following benefits while opening Savings Account with Bank of Baroda

Nomination facility Yes
Passbook facility Yes
Chequebook facility Yes
Issuance of Debit Card Yes
Internet Banking Yes
Mobile Banking Yes
Fund Transfer Yes
DD Pay Orders Yes

Bank of Baroda Saving Account – charges

Balance non maintenance charges : None

Bank of Baroda Savings Account

Bank of Baroda offers an interest rate of 2.75% - 3.00% p.a. Bank of Baroda also offer accounts to meet the specific requirements of salaried, women, kids and senior citizens.

Product Name Minimum Age Minimum Balance Required
BOB Savings Account 18 years QAB Rs. 500 and Rs. 1,000 for rural and urban respectively. Zero balance facility only for salaried employees in Central/ State Govt. Public and Private Limited Companies, Agents of Life and General Insurance Corporations and Students
Super Savings Account 18 years QAB of Rs. 20,000
Baroda Centenary Savings Account 18 years N.A
Baroda Basic Savings Account 18 years Nil
Baroda Salary Advantage Saving Account 21 years Nil
Baroda Bachat Mitra 18 years Nil
Baroda Pensioners Savings Bank Account 18 years N.A
Baroda Jeevan Suraksha Savings Bank Account 18 years Minimum Balance Rs. 1,000 on daily balance basis

Bank of Baroda Savings Account Products

BOB Savings Account

An ideal option to cultivate the habit of banking and saving amongst the younger generation.

This account is for resident Indians of 18 years of age and above.

Features of BOB Savings Account

  • Provision for nomination
  • Deposits are insured by DICGC
  • Opening of account minimum Rs. 500 in rural/semi urban and minimum Rs. 1,000 in urban areas

Debit Card Offered : ATM cum Debit Card

Balance Non Maintenance Charges : None

Baroda Basic Savings Account

The product is ideally suited for all common people, especially who are having low and middle income such as wage earners, workers in unorganized sectors, house wife, students and all other individuals having low net worth.

This account is for resident Indians of 18 years of age and above

Features of Baroda Basic Savings Account

  • Standing instruction, ECS debit etc. can be made available to such accounts
  • No restriction on turnover / deposit by adult individual
  • There will be NIL Charges levied for non operation/ activation of in operative/ dormant accounts

Balance Non Maintenance Charges : None

Baroda Salary Advantage Saving Account

This account can be opened by regular salaried employees with minimum one year service with the organization.

This account is opened by salaried individuals who are at least 21 years old

Features of Baroda Salary Advantage Saving Account

  • Overdraft facility available upto Rs. 1 Lac
  • Minimum take home salary Rs. 5,000

Documents Required

Bank of Baroda requires the following documents to open a Savings Account

  • Signed application form
  • Income Tax PAN Copy
  • Identity Proof: Driving License, PAN, Passport VoterID
  • Address Proof: Utility Bill, Property Tax Bill. Any other ID and address proof issued through a competent authority are also valid

Frequently Asked Questions on Bank of Baroda Savings Account

How much interest is charged by Bank of Baroda on Savings Account?

Bank of Baroda offers an interest rate of 2.75% to 3.00% on Savings Account.

What is the minimum amount required for opening Savings Account in Bank of Baroda ?

The minimum amount required for opening Savings Account in Bank of Baroda is QAB Rs. 500 and Rs. 1,000 for rural and urban respectively. Zero balance facility only for salaried employees in Central/ State Govt. Public and Private Limited Companies, Agents of Life and General Insurance Corporations and Students.

What are the balance non - maintenance Charges on Bank of Baroda Savings Account?

The Balance Non Maintenance Charges on Savings Account by Bank of Baroda are None.

How does Bank of Baroda calculate interest charged on Savings Account?

Interest on Savings Account is calculated on Quarterly basis. The following formula is used by Bank of Baroda to calculate interest on Savings Account.

Monthly interest=Amount (Daily balance)*(No of days)* Interest/Days in the year

Does Bank of Baroda offer Debit Card to the account holder?

Yes, various Debit Cards are offered, differing according to the product. Some of the popular savings account products of Bank of Baroda with the type of debit card offered are listed in the table below.

BOB Savings AccountATM cum Debit Card
Super Savings AccountATM cum Debit Card
Baroda Pensioners Savings Bank AccountBOBCARD Silver

Interest rate on all Bank of Baroda deposits products listed in the table above is 2.75% to 3.00%

What is the eligibility criteria to open a savings account in Bank of Baroda
  • This account is for resident Indians of 18 years of age and above.
Bank of Baroda News - Jul 2020
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