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Bank of Baroda Savings Account

Bank of Baroda Savings Account Online

Last Updated 18th Jan 2022

  • Bank of Baroda offers a wide range of savings account products for specific customer groups.
  • Minimum balance requirement to open a 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.
  • You can get high returns up to 3.20% on a savings account.
  • Open instant Bank of Baroda savings account online.
  • Internet banking and mobile banking facility available.
  • The facility of safe deposits locker facility, nomination available in Bank of Baroda.
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Bank of Baroda Savings Account

Bank of Baroda offers a wide range of savings accounts that allows individuals to deposit money, keep it safe, and withdraw funds, all while earning interest. It provides a savings account according to the needs of the specific customer groups and caters to their requirement. For instance, it offers the Premium saving account for its high-end customers and also provides the minor savings account for children below the age of 18 years. The bank offers several facilities like internet banking, mobile banking, and allows no minimum balance requirement in many saving account products.

Features and Benefits of Bank of Baroda Savings Account

Benefits of Bank of Baroda saving Account are as follow:

  • Bank of Baroda offers an interest rate on saving account in the range of 2.75% to 3.20%.
  • Balance requirement for Bank of Baroda savings account 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.
  • An individual can transfer the Bank of Baroda savings account to any other branch without changing the account number.
  • Safe deposits locker facility, nomination facility is also available.
  • Bank of Baroda savings account provides the facility of linking to the Multi Option Deposit account to fetch higher term deposit interest on the surplus money.
  • It provides various kinds of debit cards as per account holder’s convenience.
  • Bank of Baroda offer banking facilities like internet banking and missed call banking. An individual can also avail the mobile banking facility which provides services like interbank mobile payment services (IMPS), utility bill payments, mobile recharges, enquiry and statements and cheque book request.
  • No charge is levied for passbook service.

Bank of Baroda Savings account Charges

ProductMinimum balanceInterest RateNon Balance Maintenance Charges
BOB Savings AccountQAB 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 Students2.75% - 3.20%None
Super Savings AccountQAB of Rs. 20,0002.75% - 3.20%Rs. 1,000 per quarter
Baroda Centenary Savings Account2.75% - 3.20%--
Baroda Basic Savings AccountNIL2.75% - 3.20%None
Baroda Salary Advantage Saving AccountNIL2.75% - 3.20%--
Baroda Bachat MitraNIL2.75% - 3.20%--
Baroda Pensioners Savings Bank Account2.75% - 3.20%--
Baroda Jeevan Suraksha Savings Bank AccountMinimum Balance Rs. 1,000 on daily balance basis2.75% - 3.20%Rs. 100 per quarter

Bank of Baroda Savings Account Products

Bank of Baroda offers multiple savings account products for different purposes. Some of the popular products of Bank of Baroda savings are:

BOB Savings Account

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

Key Features:

  • 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

Eligibility:

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

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.

Key Features:

  • 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

Eligibility:

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

Baroda Salary Advantage Saving Account

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

Key Features:

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

Eligibility:

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

Bank of Baroda Savings Account Nomination Plan

Bank of Baroda asks their customers to make nominations which imply that they should nominate individuals to whom the amount lying in their accounts should go in the event of their death. Nomination can be made in account opening form itself or on a separate form indicating the name and address of the nominee. The person can change the nomination any time. Bank of Baroda savings account provides the nomination facility in all the savings products.

Bank of Baroda Savings Account Welcome Kit

Bank of Baroda provides a Welcome Kit containing personalised cheque book and ATM Card, which is mailed to the customers’ postal address selected for correspondence, after 7 – 8 working days from the date of opening of a particular savings account.

Bank of Baroda Savings Account Helpline

Individuals can call Bank of Baroda’s 24X7 helpline number 1800-258-4455/ 1800-102-4455, which is accessible from all landlines and mobile phones in the country.

Check Saving Account Offered By Top Banks

FAQs

Can I open Bank of Baroda bank account online?

Bank of Baroda enables individuals to open a savings bank account online as well. Individuals can open an Insta saving account and digital savings account.

What is the minimum balance for an Bank of Baroda savings account?

Minimum balance requirement differs with Bank of Baroda saving account products. The minimum balance required to open a BOB 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.

Which saving account is best in Bank of Baroda?

There are various savings account products offered by Bank of Baroda. These accounts are specially developed for a certain section of people. Individuals may compare the interest rate offered, minimum account requirements and facilities provided to select the best product.

Can I open Bank of Baroda account with zero balance?

The minimum balance requirement to open a savings account with 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. If any individual does not maintain the minimum balance then non-balance maintenance charges are levied.


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Bank of Baroda News - Jan 2022
  • 2021-09-09 : Bank of Baroda Launches One-stop Digital Platform
    Bank of Baroda has launched a one-stop digital platform known as BOB World. Under this platform, the bank aims to provide all the banking services under four key pillars, i.e. Save, Invest, Borrow and Shop, under one roof.
  • 2021-07-16 : Amalgamation of Bank of Baroda, erstwhile Vijaya Bank and erstwhile Dena Bank
    Bank of Baroda, on its website, stated that the IFSC codes of the erstwhile Vijaya Bank and Dena Bank were discontinued on March 1, 2021. Customers have been asked to apply for cheque books with the new MICR code at the earliest.
  • 2021-06-01 : BOB reports net loss of Rs 1,046 cr in Q4
    Bank of Baroda reported a standalone net loss of Rs 1,046 crore for the March quarter (Q4FY21). It had posted a profit of Rs 506.6 crore in the same period last year (Q4FY20). The lender’s advances which includes retail loans home, LAP, personal, two wheeler, car education and doctor loan along business and mudra loan grew by 4.9% to Rs 6.4 trillion during the March quarter. Further domestic deposits which includes fixed and recurring deposits rose 6.2% to Rs 8.6 trillion.
  • 2021-01-06 : BOB launched whatsApp banking services
    Bank of Baroda launched banking services in messaging platform WhatsApp. This will offer services such as balance enquiry, mini statement, cheque status enquiry, cheque book request, blocking debit card and information on products and services, among others via WhatsApp.
  • 2020-10-30 : Bank of Baroda Q2 profit surges 128%
    Bank of Baroda reported a net profit of ₹1,679 crores for the quarter ending 30 September. Net interest income during the quarter grew by 6.8% to ₹7,508 crores. The consolidated net profit stood at ₹1,771 crores in the September quarter. Further, the advances backed by retail loans like home, personal, car, two-wheeler and gold loans along with business and mudra loans increased by 5.3%. CASA ratio increased to 39.78%, up by 190 bps year-on-year.
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