bob BRO Saving Account

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.

• All Resident Students aged between 16 to 25 years Joint Account :allowed with parent and guardian

Zero Balance & no conditions of MAB/QAB

Cash Deposit

• For Rs.50000/- and above PAN is required to be submitted as per requirement of Income Tax.

At Cash machines

• Cash deposit with debit card up to Rs.2,00,000/- (2 Lacs) per day where PAN is registered and Rs.49,999/- where PAN is not registered in account.
• Card less transaction (by feeding account number) up to Rs. 20,000/- per day.
• Fake note, Suspicious Note is impounded and receipt is given to the customer. Torne/Mutilated/Taped notes are not accepted by these machines.

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Cash Withdrawal

• Inter SOL cash payments to third parties is not permissible.
• Per day per transaction limit of Rs.50000/- is fixed for cash withdrawal by account holder only (through withdrawal up to Rs.25000/- SB Account without cheque book facility) at Non Base CBS branches irrespective of nature of accounts. Passbook should accompany with Withdrawals.
• Self-Withdrawal at Base branch is free.

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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.25000/- (Minimum Rs.25/- in Rural/SU and Rs. 50/- in Metro/Urban).

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Passbook and statement of account

• Free Pass Book.
• Rs. 100/-per duplicate Pass Book / Statement with latest balance only. For previous statement/ entries, applicable charges apply.

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Cheque book

• Unlimited Free Cheque Leaves for 18 year and above

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Registration and execution of standing instructions

• No charge within the Bank.
• Rs.50/- per transaction plus applicable remittance charges in case of credits for outside the branch whether in same city or other cities i. e in other branches / Offices such as LIC etc. plus actual postage charges.

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Transfer of account/scheme

• Upon submission of application along with pass book and unused cheque leaves the account can be transferred to another branch/scheme free of charge.

Scheme Code Transfer to bob BRO	Existing Baroda Champ Accounts (SB156) can be converted into a bob BRO Savings Account, subject to fulfilling the eligibility criteria. Conversion from other saving schemes (except SB156) to SB197 is not allowed.
Scheme Code Transfer	bob BRO (SB197) to another scheme is allowed, subject to T & C of Target Scheme.

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Interest Calculation and Frequency

• Interest is calculated on daily product basis and credited to accounts quarterly. 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. However, Value date effect as of 1st day of the month is given while crediting interest.

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Dormant/Inoperative Account

• Account becomes inoperative/dormant if there are no customer induced transactions in Savings account 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, and 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.

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Minimum balance requirement

• No Minimum Balance Requirement.

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SMS/Email alerts Charges:

• Free SMS /Email Alert Charges

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NEFT/RTGS/IMPS/UPI:

• Free through all channel

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Nomination

• Facility available.

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Rules for Transfer/ inter-sol transfer/clearing transactions and charges

• Transfer Transaction at base branch : Allowed freely without any limit.
• Transfer Transaction at Non-base branch (local as well as outstation) normally allowed only at a branch where either drawer or payee maintains account. However, for genuine transactions, Branch Head is authorized to allow transactions at non-base branch (where neither drawer nor payee maintains account) on case to case basis subject to certain conditions. There are no charges for Inter-sol transfer transactions. .
• Clearing Transactions: There is no restriction for clearing transactions.

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Closure of account and charges

• Saving Account: Metro-Urban No charges
  • if the account is closed within 14 days of first customer induced credit into the account.
  • No charges, if account is closed due to death of Account Holder.
  Rs 300- : if account is closed beyond 14 days but within 1 year of the first customer induced transaction. (Excluding Small Savings bank and Basic Savings Bank accounts).
• Saving Account: Rural/Semi urban branches , Senior Citizen and Pensioners at any branch No charges
  • if the account is closed within 14 days of first customer induced credit into the account.
  • No charges, if account is closed due to death of Account Holder.
  Rs 275/- : if account is closed beyond 14 days but within 1 year of the first customer induced transaction. (Excluding Small Savings bank and Basic Savings Bank accounts).

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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 for the purpose of preventing 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, 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 Deposit Insurance & Credit Guarantee Corporation (DICGC) maximum upto Rs 5,00,000( Rs 5 lakh).

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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.

Note:

*All Charges are exclusive of Taxes.

*All charges are subject to changes from time to time.

*For latest service charges, please visit the Link : https://bankofbaroda.bank.in/interest-rate-and-service-charges/service-charges