Bank of Baroda caters to the requirements of all classes of customers through various savings accounts. These accounts are designed looking into the varying needs & requirements of resident individuals. All the accounts offer an annual interest rate of 4% & come with bundles of interesting features keeping the customers satisfied in all respects. The customers can avail banking facilities at any of the 5230 branches & ATMs of Bank of Baroda.
For opening a savings account in Bank of Baroda, the individual has to submit to the nearest branch duly filled in application form along with passport size photo, introduction as per bank's standard procedure, IT declaration & KYC documents like PAN card, passport, voter card, driving licence, etc. as proof of identification & address. The application form can be downloaded from Bank of Baroda's website. Moreover, in case of queries, the applicant can refer the "Inquiry" icon on the bank's portal.
1. Baroda Centenary Savings Account
This account provided at all CBS branches in the country has many features like free debit card, instant credit of outstation cheques up to Rs. Twenty five thousand, auto sweep facility, wherein the funds from savings account are transferred to term deposits & reverse auto sweep, wherein the funds are transferred from term deposits to savings accounts, especially to honour cheques.
2. Savings Bank Account
This account is especially designed for salaried employees of central or state government, public or private companies, life/general insurance agents and students. This account comes with features like nomination, insurance of deposits by DICGC, flexibility of withdrawing amount from the account, thus making the account safe and simple to operate.
3. Super Savings Account
This account is provided only to privileged high value customers, residing in India. This account can be opened in select urban & metro centres. It comes with features like auto sweep & reverse auto sweep facility. For depositing of outstation cheques and issue of demand drafts, no fee is charged.
4. Baroda Basic Savings Account
This account as the name suggests is a basic account meant for public at large. People in the low and middle income group like daily wage workers, workers in the unorganised sector, students, housewives, etc can open this account with zero balance. Moreover, there is no upper ceiling on the amount to be kept in the account. This account serves as a savings account for such low net worth people.
5. Baroda Salary Advantage Savings Account
This account is designed especially for the employees of central & state government, PSUs/MNCs, semi government organisations, universities and privileged private companies. To open the account, the individual should be at least 21 years of age & his net take home salary should be minimum Rs. five thousand. This savings account has the features like overdraft facility, interest on credit balance, no need to maintain minimum balance in the account and there is no upper ceiling limit on the amount to be maintained in the account.
6. Baroda Bachat Mitra
For opening this account, one should be at least 18 years old and this can be operated either singly or jointly. This account is clubbed with fixed deposits with periods ranging from a minimum of 12 months to a maximum of 120 months. No minimum balance is required to be maintained in the account & no charges are payable for not maintaining the minimum balance.
7. Baroda Pensioners Savings Bank Account
This account is for pensioners, who can open the account with a minimum amount of Rs. 5. Some of the main features that are part of the scheme include Baroda Connect Internet Banking facility, Accidental Death Insurance Policy coverage of Rs. one lakh, immediate credit of outstation cheques, offering free debit card and free cheque books without any limit.
8. Baroda Jeevan Suraksha Savings Bank Account
A resident individual between 18 & 60 years can open this account with a minimum amount of Rs. 5000. Minimum balance of Rs. 500000 is to be maintained on a daily basis (Rs. 1000 per day) as criteria for minimum balance requirement.
The account holder is provided with a life insurance policy for an amount of up to Rs. 500000 from India First Life Insurance Company Limited (IFLIC).
9. Zero Balance Savings Bank Account
This account can be opened & operated by employees of central & state government, public/private limited companies, life/general insurance company's agents, students and land affected persons.