• Baroda Champ Account

Save today, for their brighter tomorrow.

Open bob Champ Account and get attractive benefits.

bob Champ Account

Note: The Bank may use the services of agents in sales/marketing etc. of its various products.

A fun way to help your children between the ages of 0-18 years save money at an early age. Apply today for a savings account for kids with no minimum balance. Along with account opening, all account holders individually receive fun and theme-based RuPay bob Champ Debit Card which makes it an effortless saving account for kids to step towards their savings.

  • Benefits
  • Features
  • Eligibility
  • Documents Required
  • Interest Rates & Charges
  • Most Important Terms and Conditions (MITC)

bob Champ Account : Benefits

Note : "T&C Apply"

bob Champ Account : Features

Sr. Parameter Features

1.

Eligibility
  • Account only for resident individuals
  • Age – 0 Years up to 18 Years of age
  • Single in the name of minor above 10 Years to the age of 18 years
    Or jointly with Either of the Parent/Guardian

2.

Mode of operation
  • Individually
  • Jointly with parents

3.

Minimum Monthly Average Balance

Zero

4.

Maximum Amount

There is no ceiling on the amount deposited / held in the account.

However, in the accounts of minors of age between 10 years and 14 years maximum amount that can be kept in the Account is Rs. 1/- Lakh.

For the Latest Details, please refer to Bank’s extant guidelines issued by Operation and Services Dept, Head Office, Baroda. 

5.

Non maintenance of MAB Charges

NIL

6.

Interest Calculation and Payment

Interest is calculated on daily product basis and credited to accounts quarterly. For Latest Interest rate of Savings Deposits, Please refer to  https://bankofbaroda.bank.in/interest-rate-and-service-charges/deposits-interest-rates

 

For this purpose, Bank’s quarters are May-July, August-October, November-January and February-April. Interest is credited to the account within 15 days of end of quarter with Value date effect as of 1st day of the month.

7.

Debit Card Variant

bob Champ RuPay Debit Card or Rupay Classic Debit Card

(Minimum age requirement for Debit Card is 10 years for bob Champ Account)

8.

Debit Card Issuance Fee and Renewal Fee

Issuance is Free

For Renewals Charges of Debit card, please refer to Bank’s latest Service Charges Schedules available at

https://bankofbaroda.bank.in/interest-rate-and-service-charges/service-charges

9.

No. of Free Transactions on Bank of Baroda ATMs (ONUS)

Unlimited

However, the maximum permissible withdrawal per day is Rs. 3,000/- from ATMs.

10.

Number of Free OFFUS ATM transactions

 

Please refer to Bank’s latest Service Charges Schedules available at

https://bankofbaroda.bank.in/interest-rate-and-service-charges/service-charges

11.

Cheque book

Please refer to Bank’s latest Service Charges Schedules available at

https://bankofbaroda.bank.in/interest-rate-and-service-charges/service-charges

12.

Transaction Limits
  • Overall transaction limit of Rs. 5,000/- per day
  • Combined transaction limit of Rs. 3,000/- per day from ATM & POS

13.

NEFT/RTGS/IMPS (outward and inward)

Free for Rs 1.00 Lakh per month

(inclusive limit of all Channels)

 

For Above Rs. 1.00 lakhs, charges to be levied as per Bank’s latest Service Charges Schedules available at

https://bankofbaroda.bank.in/interest-rate-and-service-charges/service-charges

14.

DD / BC charges

Free issuance of -1- DD per month for fee payment, subject to maximum amount of Rs 1.00 Lakh.

15.

SMS alerts

Please refer to Bank’s latest Service Charges Schedules available at

https://bankofbaroda.bank.in/interest-rate-and-service-charges/service-charges

16.

KYC
  • As per Bank's extant guidelines
  • KYC certification by school authorities is acceptable

17.

Passbook

First passbook to be issued Free of Cost at Branch.

 

For subsequent issuance, please refer to Bank’s latest Service Charges Schedules available at

https://bankofbaroda.bank.in/interest-rate-and-service-charges/service-charges

18.

Internet Banking, Mobile Banking / WhatsApp

Allowed for Individual Account Holders aged above 10 years.

19.

Credit Card facility

Not Allowed

20.

Nomination facility

Allowed as per Bank’s extant guidelines.

Please refer to Bank’s latest Service Charges Schedules available at

https://bankofbaroda.bank.in/interest-rate-and-service-charges/service-charges

21.

Sweep Facility

Available on written request from Account Holder / s.

22.

FFD Parameters

Scheme Code

TD140

Sweep minimum threshold

10,000

FFD Period

180 Days

Sweep out in Multiple

5,000

Sweep in Multiple

1,000

Premature Penalty

Applicable as per Bank’s extant guidelines

Additional ROI

As per Bank’s extant guidelines

Sweep Frequency

Weekly (Monday)

23.

Pre- closure charges

Please refer to Bank’s latest Service Charges Schedules available at

https://bankofbaroda.bank.in/interest-rate-and-service-charges/service-charges

24.

Points to remember

 
  1. Opening of Minors Account (Resident) is permissible only in the following scheme codes:
    • bob Champ Account - SB156
    • PMJDY Account- SB124
    • bob BRO Account – SB197 (Aged 16-25 Years)
  2. As per directive of RBI, Bank has developed a separate scheme for Students for the purpose of scholarship/DBT with Scheme Code SB138. Accordingly, the Branch to ensure opening Scholarship Accounts of Students under scheme code of SB138 only.
  3. The Scheme Code is to be changed after attaining Majority by Account Holder after obtaining Customer consent as per Bank's extant process.

25.

Other Charges

As per the extant Guidelines of the bank for Saving bank account detailed in Bank’s latest Service Charges Schedules available at

https://bankofbaroda.bank.in/interest-rate-and-service-charges/service-charges

bob Champ Account : Eligibility

  • Eligibility age: 0 to 18 years.

bob Champ Account : Documents Required

List Of Valid KYC Documents For Account Opening
Permanent Account Number (PAN)/ FORM60 is mandatorily to be obtained while opening of the accounts as per extant Reserve Bank of India Guidelines.
Officially Valid Documents (OVDs) for Accounts of Individuals
  • Passport
  • Driving license with photo
  • Proof of possession of Aadhaar Number
  • Voter’s Identity Card issued by Election Commission of India,
  • Job card issued by NREGA duly signed by an officer of the State Government.
  • Letter issued by the National Population Register containing details of Name and Address.
Deemed Officially Valid Documents, In case OVD does not contains current/ updated address. (At least one document from the list is Required.)
  • Utility bill of any service provider i.e. electricity, telephone, postpaid mobile phone, piped gas, water bill (not more than two months old)
  • Property or Municipal Tax receipt;
  • Pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings, If they contain the address;
  •  Letter of allotment of accommodation from employer issued by State or Central Government departments, statutory or regulatory bodies, and public sector undertakings, scheduled commercial banks, financial institutions and listed companies. Similarly, leave and license agreements with such employers allotting official accommodation;
In case of Foreign Students
  • Copy of Passport and copy of Visa.
  • An Identity Card issued by college / institution.
  • An admission letter for the course mentioning duration of course for which he/ she is admitted by the Institute / College.
  • An allotment letter on letter head of the institution/ college for allotment of hostel accommodation duly singed by the authorized signatory, mentioning detailed address and location of hostel, room no. etc. and date of allotment of hostel accommodation etc. or a valid address proof giving local address in form of rent agreement within 30 days of opening of the account.
For NRI / Foreign Tourist For PIO/OCI
  • Passport
  • Valid Visa
  • PAN/FORM60
Address proof mentioning the current overseas address (any one of the below) Documents issued by Govt. Deptt. of foreign jurisdictions i.e. Driving License, National Identification Card, Social Security Card, Employee Card and Labour Card, Tax Residency Certificate etc. having Name and Address of the Applicant Letter Issued by Foreign Embassies or Mission in India having Name and Address of the Applicant Utility bill of any service provider i.e. electricity, telephone, postpaid mobile phone, piped gas, water bill (not more than two months old) Property/ Municipal Tax Receipt
Letter of allotment of accommodation/ Leave and License agreements allotting official accommodation from employer issued by State or Central Govt. departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions and listed companies.
For Foreign Nationals
  • PAN/FORM60
  • Valid Foreign Passport
  • Valid Indian Visa
Address proof mentioning the current overseas address (any one)
  • Foreign Driving License
  • Documents issued by Govt. Deptt. of foreign jurisdictions i.e. National Identification Card, Green Card and Social Security Card etc. having Name and Address of the Foreign National.
  • Letter Issued by Foreign Embassies or Mission in India having Name and Address of the Applicant

(FRRO/ FRO Certificate/ Permit/ Indian Driving License/ OVDs/ any Deemed OVD mentioned herein above, is required to be provided for Indian Address Proof.)

Accounts of Companies
  • Certificate of Incorporation
  • Memorandum & Articles of Association.
  • PAN No. of the Company
  • Resolution of the Board of Directors and Power of Attorney granted to its managers, officers or employees to transact on its behalf; and
  • Any one of the OVDs and PAN/FORM60 of the managers, officers or employees, as the case may be, holding an attorney to transact on its behalf with his / her photograph
Accounts of Sole Proprietary firms.

(Any two of the following documents to be obtained)

  • Registration Certificate
  • Certificate/ license issued by the municipal authorities under Shop & Establishment Act,
  • Sales and income tax returns,
  • CST/ VAT/GST Certificate (Provisional/Final),
  • Certificate / registration document issued by Sales Tax / Service Tax / Professional Tax authorities.
  • IEC (Importer Exporter Code) issued to the proprietary concern by the office of DGFT or License/ certificate of practice issued in the name of proprietary concern by any professional body incorporated under statute
  • Complete Income Tax return (not just the acknowledgement) in the name of Sole Proprietor where the Firm’s income is reflected, duly authenticated/ Acknowledged by the Income Tax Authorities.
  • Utility bills such as electricity, water, and landline telephone bills in the name of the proprietary concern. In case where the branches are satisfied that it is not possible to furnish two such documents from the above list, they would have the discretion to accept only one of those documents as activity proof. In such cases, the branches would have to undertake contact point verification, collect information to establish the existence of such firm, confirm, and satisfy itself that the business activity has been verified from the address of the proprietary concern.

    AND

    Any one of the OVDs along with PAN/ FORM60 of the proprietor.

Accounts of Partnership firms. (Registered)
  • Registration certificate,
  • Partnership deed; and
  • PAN No. of the Partnership Firm,
  • Any one of the OVDs and PAN/ FORM60 of the person holding an Attorney to transact on its behalf with his/ her photograph
Accounts of Trusts
  • Registration Certificate
  • Trust Deed
  • PAN/ FORM60 of Entity
  • Any one of the OVDs and PAN/FORM60 of the person holding an Attorney to transact on its behalf with his/her photograph.
Accounts of Unincorporated Associations or body of individuals includes unregistered
  • Resolution of the Managing body of such association or body of individuals;
  • PAN/ FORM60 of Unincorporated Associations or body of individuals
  • Power of Attorney granted to transact on its behalf;
Partnership firm/ trusts and societies.
  • Any one of the OVDs and PAN/ FORM60 of the Office bearers / Signatories and persons holding Power of Attorney, if any with his/her photograph in respect of the person holding an Attorney to transact on its behalf;
  • Any one of the below mentioned list of documents to collectively establish the legal existence of such an associations or body of individuals.
  • Partnership Deed/ Trust Deed/ Bye Laws
  • Certificate/ license issued by the municipal authorities under Shop & Establishment Act,
  • Sales Tax Returns,
  • CST/ VAT/ GST certificates (Provisional/ Final)
  • Certificate/ registration document issued by Sales Tax/ Service Tax/ Professional Tax authorities.
  • License/ certificate of practice issued in the name of proprietary concern by any professional body incorporated under statute.
  • Complete Income Tax return (not just the acknowledgement) in the name of Sole Proprietor where the Firm’s income is reflected, duly authenticated/ Acknowledged by the Income Tax Authorities.
  • Utility bills such as electricity, water, and landline telephone bills in the name of the concerns.
Accounts of Hindu Undivided Family
  • PAN Card of HUF.
  • Declaration from the Karta.
  • HUF Letter/ Declaration signed by all the coparcener and Karta.
  • Any one of the OVDs and PAN/ FORM60 of the Karta with his / her photograph
Accounts of the Government or its Departments, societies, universities and local bodies like village panchayats etc.
  • Document showing name of the person authorized to act on behalf of the Government or its Departments, societies, universities and local bodies like village panchayats;
  • Any one of the OVDs and PAN/FORM60 of the person holding an attorney to transact on its behalf and
  • Any document to establish the legal existence of such an entity/ juridical person.
Account of Political Parties
  • Duly signed resolution of the working committee/ managing body as per bye- laws indicating details of the party president/ authorized signatory, tenure etc.
  • PAN of the Political Party
  • Power of Attorney granted to transact on its behalf;
  • Duly authenticated copy of Constitution/ Bye laws of the Party
  • Duly authenticated copy of Registration of Party with election commission
  • Authority letter, on party letter head, from Party president/ Authorized signatory as per Bye-laws for opening of account mentioning address of the State Unit, Title of Account and operating instructions for authorized signatory with attestation of their signature and photograph.
  • Any one of the OVDs and PAN/ FORM60 of the Office bearers / Signatories and persons holding Power of Attorney, if any with his/her photograph in respect of the person holding an Attorney to transact on its behalf;

bob Champ Account : Interest Rates & Charges

“All other rules like service charges on inoperative accounts, addition/deletion of names, payment of interest, etc. governing savings bank accounts shall also apply to these accounts mutatis mutandis, unless otherwise specified.”.


- For Interest Rates & Charges please “Click Here”

bob Champ Account : Most Important Terms and Conditions (MITC)

Transactions that are savings-oriented in nature are permitted. Commercial transactions are non-allowable transactions. If non-allowable transactions are noticed, then the Bank may close the account with prior notice/intimation citing reasons thereof. The maximum balance outstanding on any day should not be more than Rs. 1 lakh.

Minimum Balance Requirement
  • No Minimum Balance Requirement.
  • Maximum credit balance in account is Rs 1.00 lakh. No ceiling on the amount deposited / held in the account for account holder above age of 14 years
  • Non-maintenance of Quarterly Average Balance charges is Zero.
Transactions
  • Overall transaction limit of Rs. 5,000 per day.
  • Combined transaction limit of Rs. 3,000 per day from ATM & POS.
Withdrawal(s) & use of Withdrawal Form (Slip)
  • Withdrawals will be allowed either by withdrawal forms or by cheques. Payment against withdrawal form along with passbook is allowed for self only with per day limit of Rs. 5,000/- (Minimum Rs. 25/- in rural/SU and Rs. 50/- in metro/urban).
Passbook and Statement of Account
  • Free passbook.
  • 100 per duplicate passbook/statement with latest balance only.
Cheque Book Charges
  • 30 Cheque Leaves will be issued free of charge Year, thereafter Std. charges will be levied.
Registration and Execution of Standing Instructions
  • No charge within the Bank and Rs. 100 for outside the Bank.
  • 100 per occasion will be levied for Standing Instruction failure because of insufficient funds.
Transfer of Account/Scheme
  • Upon submission of application along with passbook and unused cheque leaves the account can be transferred to another branch/scheme free of charge.
Closure of Account
  • All the authorized signatories of the account will give in writing with his/her/their intention to close the account. The relative passbook, debit card and the unused leaves should be surrendered along with the letter requesting closure.
  • In case of premature closure of the account no charges will be levied if the account is closed within 14 days of first customer induced credit into the account. However, charges @ Rs. 200 is levied if account is closed beyond 14 days but within 1 year of the first customer induced transaction. However, in case of death of account holder no charges will be levied.
Interest Calculation and Frequency
  • Interest for the period February to April will be credited in May, Interest for May to July will be credited in August, interest for August to October will be credited in November and interest for November to January will be credited in February every year.
Dormant/Inoperative Account
  • Account becomes Inoperative/Dormant if there are no customer induced transactions in Savings Accounts for over a period of Two Years.
  • Interest is continued to be applied in all such savings bank accounts.
  • No charges are levied for in-operation of accounts.
  • Activation/closure of dormant/inoperative accounts will be done after submission of necessary KYC documents, photo, fresh specimen signature, subject to satisfaction of the bank.
  • All accounts which have remained inoperative/dormant for a period of 10 years and above will be treated as unclaimed deposits and will be transferred to RBI. Upon receipt of the request from the customer such deposits will be returned subject to conditions.
SMS Alerts and Charges
  • Charges @ Rs. 15 per quarter are levied.
Nomination
  • Nomination facility available.
Auto/Reverse Sweep Facility
  • Auto sweep out will happen beyond threshold limit of Rs. 10,000 to Short Deposit of 180 days in multiple of Rs. 5,000 and case of requirement in SB A/c auto Reverse Sweep in multiple of 5,000 on LIFO Pattern (last in first out).
  • However, for premature withdrawals of all deposits, interest will be paid one per cent less than the rate which is applicable at the time of placing the deposit, for the period for which the deposit has actually run.
  • Sweep will take place on every Monday.
Disclosure of information
  • The Bank may disclose information about customer’s account, if required and permitted by law, rule or regulations, or at the request of any public or regulatory authority or if such disclosure is required to prevent frauds, or in public interest, without specific consent of the account holder(s).
  • All relevant policies including code of commitments to customers and Grievance Redressal Policy are available at the branches.
  • MITCs of ATM/Debit Card, Mobile Banking, Net-Banking in application forms are available separately.
  • The Bank will notify, 30 days in advance, of any change in terms and conditions/fees and charges on its website.
  • Deposits along with interest kept in different branches of our Bank is insured by the Deposit Insurance & Credit Guarantee Corporation (DICGC) maximum up to Rs. 5 lakhs.
Transactions
  • Transactions of saving oriented nature are permitted. Commercial transactions are non-allowable transactions. If non allowable transactions are noticed then Bank may close the account with prior notice/intimation citing reasons thereof. In case of single account of minor to be operated by him/her the maximum balance outstanding on any day should not be more than Rs. 100000/- when the minor is aged between 10-14 years.

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