Bank of Baroda Savings Account Interest Rates, Types of Account

Bank of Baroda Savings Account Interest Rates

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Bank of Baroda is an Indian public sector bank and is the second largest public sector bank in India after State Bank of India.

Bank of Baroda Savings Account Interest Rates

Bank of Baroda offers a wide range of savings accounts to the customers to suit the individuals needs. With Bank of Baroda savings account customers will get various benefits such as net banking, mobile banking etc. Today in this post we are going to discuss in details about BOB interest rates, types of account offered by BOB etc.^[1]

Also Read: PNB Savings Account Interest Rate

Types of Savings Account

• Super Savings Account

This savings bank account is offered to high value resident customers. This account offers various banking facilities such as Mobile Banking, Net Banking, SMS, and many more. It offers free cheque books to customers and this scheme is available in urban and metro centers.

• Mahila Shakti Savings Bank Account

This account is specially designed for women. This savings account also offers various banking services and facilities. In this account one will get higher interest rate with flexi-fixed deposit facility. This account is very beneficial for women because there are attractive offers on beauty, lifestyle, and groceries. One can also avail a personal accidental insurance.

• Senior Citizen Savings Account

This account is for senior citizens. If you are an above the age of 60 then you can open this account which will provides various facilities for old age people. In this account you are offered with a free Visa Platinum Debit Card with a withdrawal limit of Rs 1 lakh.

• Pensioners Savings Bank Account

This account can be opened only with a minimum value of Rs 5. This account is for pensioners. All pensioners can open this account in Bank of Baroda. Free cheque book facility is available, internet banking facility is available, free debit card facility is available and many more. It also offers you with accidental death insurance cover worth Rs 1 lakhs.

• Baroda Salary Privilege

This account is a salary-based savings account and can be opened by those only whose net monthly income is Rs 2 lakh and above. Unlike other accounts this account also offers you various banking facilities. This account will offer you an Accidental Death Insurance Cover. One will also earn a lifetime free Baroda Premier Credit Card with 5x reward points on availing this savings account from Bank of Baroda.

• Baroda Salary Premium

One can avail open this account if his/her net monthly income is Rs 1 lakh and above but less then 2 lakhs. Under this scheme you are offered with an Accidental Death Insurance Cover along with 75% waiver on the processing fee if you avail a housing loan, education loan, auto loan, or a personal loan from Bank of Baroda. You are also offered with lifetime free Baroda Premier Credit Card with 5x reward.

• Baroda Salary Super

One can avail this account if his/her net monthly income salary is Rs 50,000 and above but less than 1 lakh.

• Baroda Salary Classic

This scheme is for you if you are working at an entry level or a trainee in a company and your monthly income is Rs 10,000 and less than Rs 50,000.

• Baroda Advantage Savings Account

This account is a zero-balance account for both salaries and self-employed peoples. You will also get various banking facilities while availing this account such free cheque book facility, Debit Card facility, Net Banking, Mobile Banking and many more.

• Baroda Champ Account

This savings account is for students between the age of 0 to 18 years. A low quarterly average balance of Rs 1,000 must be maintained and the account can be used to pay the school fee and no charges are levied by the lender.

• Salary and Pension Solutions for Indian Military

This account is mainly for Indian military and depending on the officer’s rank, a Silver, Gold, Diamond, or Platinum account may be provided. In case you opt for a home loan, the processing fee will be waived.

Bank of Baroda Savings Account Interest Rates

How to Open Savings Account at Bank of Baroda

One can open a Baroda bank savings account through both online and offline method. To apply for the savings account you have to fill up the application form and and submit your form with all your essential documents to the nearest bank branch. One can also download the form from the official website of Bank of Baroda, fill up the application form and submit it to the nearest bank branch.

Procedure to open a savings account through online

• Open the official website of Bank of Baroda
• Click on the “Accounts” and select “Open a Savings Account Digitally”
• Proceed further by clicking on the “Yes” bottom
• Next enter your email ID, mobile number
• Now enter your PAN and Aadhaar Number
• Select the nearest branch and mention your personal and nominee’s details
• Add the additional services that you wish to take and click on next
• Now click on the complete video KYC for verification
• Once the video KYC is complete, and now you can proceed with your BOB savings account

Eligibility Criteria

• One must be a resident of India
• Hindu Undivided Family
• Age must be 18 years and above

Documents Required

Certain documents are required by the applicant to open a savings bank account with Bank of Baroda

• ID proof
• Address proof
• 2 passport sized photographs
• IT declaration

FAQs

1. Can I open a zero balance savings account in BOB?

Ans: Yes, you can open a zero balance account in BOB.

2. What are the documents required to open a savings account?

Ans: To open a savings account you must have to submit the following documents – Aadhar Card, PAN Card, Driving License, Passport etc.

3. Who can I add as a nominee while opening savings account?

Ans: You can add as a nominee to your parents, guardians or your spouse.

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