Saving with Festive Season

Open bob LITE Saving Account and get attractive benefits

bob LITE Savings Account

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

Reap the benefits of savings account with bob LITE Saving Account . A simple, convenient and hassle-free option to save and manage your money, open a savings account now with Attractive benefits along with Rupay Platinum Debit card.

Benefits
Features
Eligibility Criteria
Documents Required
Fees & Charges
Most Important Terms and Conditions (MITC)

bob LITE Savings Account : Benefits

- No Minimum balance charge
  (Lifetime free zero balance account )
- Free Rupay Platinum Debit Card subject to maintenance of QAB Rs. 3000 - Metro/Urban Rs. 2000 - Semi Urban Rs. 1000 - Rural *If QAB is not maintained Annual fee on debit card will be applied as per Banks extant guideline

Note : "T&C Apply"

bob LITE Savings Account : Features

Sr.

Parameters

features

Eligible Clients

All Residents eligible to open Account as per Bank’s extant guidelines.

Eligible Branches

All branches

Eligibility Criteria

All resident individuals including minors (above the age of 10 years and able to read & write on own) in single or joint names competent to enter into a contract are eligible to open savings bank a/c in his/her own name limited to only one such account & other categories eligible for opening Saving account as per bank’s guidelines

KYC documents

Applicable documents for opening Savings account as per extant guidelines

Mode of Operation

1. Singly

2. Jointly by

a. any one or more of the survivors

b. Either or anyone or more of them or the survivors jointly, or survivor.

c. former or survivor

d. latter or survivor

Subject to condition that the Second / First named Account Holder respectively, will be entitled to the balance lying in the Account only on the Death of the Former / Latter Account Holder.

Minimum Quarterly Average Balance (QAB)

Zero

Maximum Balance in Account

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.1.00 Lakh.

Charges for non- maintenance of minimum QAB

Zero

Cheque books

30 cheque leaves will be issued free in a financial year.

For additional cheque leaves charges will be applicable as per Bank’s latest Service Charges Schedules available at

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

10.

Debit Card Variant and Issuance / Renewal Charges

Free Rupay Platinum Debit Card subject to maintenance of QAB as per below table: -

Sr.	Area	QAB for Free Debit Card
1.	Metros/Urban	Rs. 3,000
2.	Semi Urban	Rs. 2,000
3.	Rural	Rs.1,000

If QAB is not maintained Annual fee on Debit Card will be applied as per Bank’s latest Service Charges Schedules available at

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

11.

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

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

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

12.

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

13.

Locker Charges

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

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

14.

Cash Handling Charges

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

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

15.

Cash withdrawal

(Local Non-Base and Outstation Branch)

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

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

16.

NEFT/RTGS/IMPS (outward and inward) through Branch Channel with cheque.

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

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

17.

NEFT / RTGS / IMPS (outward and inward) through Online Channel

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

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

18.

Scheme Code Transfer to bob Lite

Another scheme to bob LITE is not allowed.

Only a new account to be opened under this scheme.

19.

Scheme Code Transfer

bob LITE to another scheme is allowed, subject to T & C of Target Scheme.

20.

Credit Card facility

Subject to Credit underwriting policies of BOB Financial Solutions Ltd

21.

SMS Alert

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

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

22.

Mobile / Internet Banking

As per Bank’s extant guidelines for issuing the facilities.

23.

Closure of Account and Charges

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

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

24.

Passbook

Free first passbook to be issued at branch.

Subsequent issuance chargeable as per the extant guidelines of Bank’s latest Service Charges Schedules available at

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

25.

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 1^st day of the month.

26.

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

27.

Sweep Facility

Available on written request from Account Holder / s.

28.

Other Terms & Conditions

1. Inter SOL cash payments to third parties are not permissible

2. Maximum Rs. 50,000/- Per day per transaction limit is fixed for cash withdrawal by account holder by Cheque and Rs. 25,000/- by Withdrawal Slip (Passbook should accompany Withdrawal Slip) from Savings Account without cheque book facility at Non-Base CBS branches irrespective of nature of Accounts.

3. Self-Withdrawal at Base branch is free.

29.

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 LITE Savings Account : Eligibility Criteria

The product is ideally suited for all individuals’ viz. Salaried class people, Businessmen, Self-employed, Professionals, Business Executives, Homemaker, minors above the age of 10 years etc.

bob LITE Savings 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;

bob LITE Savings Account : Fees & Charges

If QAB is not maintained ,Annual fee on debit card will be applied as per Banks extant guideline

bob LITE Savings Account : Most Important Terms and Conditions (MITC)

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.

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.

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).

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.

Cheque book

30 cheque leaves will be issued free in a financial year. For additional cheque leaves charges will be applicable.

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.

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.
bob LITE to other scheme is allowed, however other scheme to bob LITE is not allowed

Interest Calculation and Frequency

Interest on Savings is calculated on daily product basis at the rates specified by the Bank taking into account the overall guidelines issued by Reserve Bank of India from time to time.
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.

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.

Minimum balance requirement

Life time Zero balance Account

Debit card and Charges:

Free Rupay Paltinum Debit card subject to maintenance of QAB

Rs. 3000 for Metro/Urban
Rs. 2000 for Semi Urban
Rs. 1000 for Rural

If QAB is not maintained Annual fee on debit card will be applied as per Banks extant guideline

Nomination

Facility available.

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.

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).

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).

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 GST and subject to changes from time to time.

*Terms and conditions are subject to change from time to time.

*For latest service charges, please visit our website https://www.bankofbaroda.in/