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Bank of Baroda Savings Account Interest Rates

Bank of Baroda Savings Account Interest 2020-21

Last Updated 21st Oct 2020

Saving Account Interest Rate
BOB Savings Account 2.75% - 2.75%
Super Savings Account 2.75% - 2.75%
Baroda Centenary Savings Account 2.75% - 2.75%
Baroda Basic Savings Account 2.75% - 2.75%
Baroda Salary Advantage Saving Account 2.75% - 2.75%
Baroda Bachat Mitra 2.75% - 2.75%
Baroda Pensioners Savings Bank Account 2.75% - 2.75%
Baroda Jeevan Suraksha Savings Bank Account 2.75% - 2.75%
Apply for Savings Account

Bank of Baroda Bank Savings Accounts Interest Rate

Bank of Baroda offers an interest rate ranging between 2.75% to 2.75% 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:

  • It offers interest rates from 2.75% to 2.75% p.a. You can easily access Bank of Baroda Savings Account anywhere through a large network of branches and ATMs.
  • If you want to transfer funds from Bank of Baroda Savings account to any other bank account, you can do it through modes such as RTGS, IMPS, NEFT and UPI facilities.
  • To maintain Bank of Baroda Savings account, you require a minimum balance of 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.
  • Bank of Baroda personalized account number and cheque book enhances security and ensures your money is safe.
  • You can get SMS Alerts and e-statement facilities with Bank of Baroda Savings Account.
  • With Auto Sweep Facility of Bank of Baroda, your account can be linked to Multi Option Deposit MOD account.

Bank of Baroda Savings Account Rates

Saving Account Interest Rate Minimum Balance
BOB Savings Account 2.75% - 2.75% 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 2.75% - 2.75% QAB of Rs. 20,000
Baroda Centenary Savings Account 2.75% - 2.75% N.A
Baroda Basic Savings Account 2.75% - 2.75% NIL
Baroda Salary Advantage Saving Account 2.75% - 2.75% NIL
Baroda Bachat Mitra 2.75% - 2.75% NIL
Baroda Pensioners Savings Bank Account 2.75% - 2.75% N.A
Baroda Jeevan Suraksha Savings Bank Account 2.75% - 2.75% Minimum Balance Rs. 1,000 on daily balance basis

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Bank of Baroda Savings Account Products

  • BOB Savings Account: Bank of Baroda offers interest rates ranging between 2.75% to 2.75% on BOB Savings Account.You can open a BOB Savings Account in Bank of Baroda by depositing 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 amount as minimum balance.
  • Super Savings Account: If you have deposited your excess funds in a Super Savings Account, you can get interest at 2.75% to 2.75% on your account. This account can be opened by anyone with a minimum age of 18 years.
  • Baroda Centenary Savings Account: Bank of Baroda provides interest rates ranging between 2.75% to 2.75% on Baroda Centenary Savings Account. The minimum balance requirement to open this account is .
  • Baroda Basic Savings Account: You can get interest at 2.75% and 2.75% respectively on Baroda Basic Savings Account in Bank of Baroda. The account can be opened in Bank of Baroda by depositing NIL amount. The debit card available for this account are .
  • Baroda Salary Advantage Saving Account: If you have deposited your excess funds in a Baroda Salary Advantage Saving Account, you can get interest at 2.75% to 2.75% on your account.
  • Baroda Bachat Mitra: You can get interest at 2.75% to 2.75% in Baroda Bachat Mitra. This account can be opened in Bank of Baroda by depositing a minimum amount of NIL after an age of 18 years.
  • Baroda Pensioners Savings Bank Account: The interest that you can earn on .Baroda Pensioners Savings Bank Account is in the range of 2.75% to 2.75% respectively. The debit card available for this product is BOBCARD Silver
  • Baroda Jeevan Suraksha Savings Bank Account: Bank of Baroda provides interest rate at 2.75% to 2.75% on Baroda Jeevan Suraksha Savings Bank Account. Further, to open this Saving Account, the minimum balance requirement is Minimum Balance Rs. 1,000 on daily balance basis. You can open this account at a minimum age of 18 years.

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FAQs

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

Bank of Baroda offers an interest rate of 2.75% to 2.75% 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 2.75%.

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.

Bank of Baroda News - Oct 2020
  • 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.
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