Bank of Baroda Savings Account Interest Rates
Bank of Baroda Savings Account Interest 2020-21
6th August 2020 – RBI keeps Repo Rate unchanged at 4%
| Saving Account | Interest Rate |
|---|---|
| BOB Savings Account | 2.75% - 3.00% |
| Super Savings Account | 3.25% - 3.75% |
| Baroda Centenary Savings Account | 3.25% - 3.75% |
| Baroda Basic Savings Account | 3.25% - 3.75% |
| Baroda Salary Advantage Saving Account | 3.25% - 3.75% |
| Baroda Bachat Mitra | 3.25% - 3.75% |
| Baroda Pensioners Savings Bank Account | 3.25% - 3.75% |
| Baroda Jeevan Suraksha Savings Bank Account | 3.25% - 3.75% |
Bank of Baroda Bank Savings Accounts Interest Rate
Bank of Baroda offers an interest rate ranging between 2.75% to 3.00% on the minimum average balance maintained in the savings account. It calculates the interest rate on savings bank accounts on a daily basis. However, the interest is paid to the account holders every quarter. With Bank of Baroda Savings Account youth and minors can get additional benefits on their Savings Account.
Features
Bank of Baroda Savings Account helps you to save money by providing interest on your idle money deposited in the savings accounts. The rate of interest on Bank of Baroda Savings Account varies as per the Savings Account product. Some of the key features and benefits of Bank of Baroda savings account are:
Bank of Baroda Savings Account Rates
| Saving Account | Interest Rate | Minimum Balance |
|---|---|---|
| BOB Savings Account | 2.75% - 3.00% | 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 | 3.25% - 3.75% | QAB of Rs. 20,000 |
| Baroda Centenary Savings Account | 3.25% - 3.75% | N.A |
| Baroda Basic Savings Account | 3.25% - 3.75% | NIL |
| Baroda Salary Advantage Saving Account | 3.25% - 3.75% | NIL |
| Baroda Bachat Mitra | 3.25% - 3.75% | NIL |
| Baroda Pensioners Savings Bank Account | 3.25% - 3.75% | N.A |
| Baroda Jeevan Suraksha Savings Bank Account | 3.25% - 3.75% | Minimum Balance Rs. 1,000 on daily balance basis |
Bank of Baroda Savings Account Products
FAQs
✅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 Account | ATM cum Debit Card |
| Super Savings Account | ATM cum Debit Card |
| Baroda Pensioners Savings Bank Account | BOBCARD 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?
Eligibility criteria for Bank of Baroda savings account -
- This account is for resident Indians of 18 years of age and above.
- 2020-07-22 : Bank of Baroda rolls out ‘Insta Click Savings Account
Bank of Baroda introduced Insta Click Savings Account. It is a paperless digital self-assisted online savings account. The self-assisted online savings account can be activated in real-time and offers customers a wide range of digital channels. - 2019-10-25 : Bank of Baroda launches specialized savings accounts
The third-largest bank of the country, Bank of Baroda, launched specialized savings accounts, ‘Baroda Platinum Savings Account’ and ‘Baroda Government Bodies Account.’ These accounts were launched on Tuesday to meet the specialized needs of High Network Individuals and Government departments. These specialized savings account will provide benefits like wealth management and investments. - 2019-07-26 : Bank of Baroda launches a new program to help startups with loans
Bank of Baroda (BoB) has launched a new program to help newly built startups with loans. The lender has opened dedicated bank branches across 10 cities and towns and is further planning to add another five in the next two weeks. Through these dedicated branches, the lender will offer them the facilities related to current accounts, payment gateways, credit cards, and also a loan of up to Rs. 2 crores. - 2019-07-26 : Bank of Baroda posts a net profit of Rs. 710 crores for the June quarter
Public sector lender, Bank of Baroda (BoB) has posted a net profit of Rs. 710 crore as against Rs. 529 crores a year ago. The lender has also achieved retail loan growth during FY19 post-merger with Vijaya Bank and Dena Bank. The growth has been noticed across home loans, savings account, and fixed deposits. - 2019-07-25 : Bank of Baroda cuts savings deposit interest rate by 25 basis points to 3.25%
Public sector lender, Bank of Baroda has cut its savings deposit interest rates by 25 basis points (bps) to 3.25%. For savings deposit balance up to Rs. 50 lakh, the rate has been revised to 3.25% from 3.50% earlier. While the savings deposit balance above Rs. 50 lakh, the rate now stands at 3.75% from 4.00% earlier. The revised rates are effective from July 20, 2019.
