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Old 8th September 2015, 02:17 PM
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Join Date: Mar 2013
Default Re: Minimum balance in Bank of Baroda

As you want to get the details of minimum balance which is required to open a Savings Account in Bank of Baroda so here is the information of the same for you:

Minimum Amount:
The Account can be opened with Zero Balance also.

Target Group:

All resident individuals, who are eligible to open a savings bank account with the branch. The product is ideally suited for all common people, especially who are having low and middle income such as wage earners, workers in unorganized sectors, house wife, students and all other individuals having low net worth to inculcate a habit of savings through this basic banking product.

Who can open the account:
All resident individuals in single or joint names who are eligible to open Savings Bank Account. This product is not for Non Resident Indians, Trusts, Societies etc.

Maximum Amount:
There is no ceiling on the amount deposited/held in the account. However, in accounts of minors of age between 10 years and 14 years maximum amount that can be kept in the account is Rs. 1 lakh.

Other Salient Features:
-50- Cheque Leaves shall be allowed free in a year. However, number of withdrawals not to exceed FOUR in a month.

Debit Card and Internet Banking facility shall be available to the accountholders.

Standing instruction, ECS (debit) etc. can be made available to such accounts (earlier it was not allowed).

No restriction on turnover / deposit by adult individual/s.

Introduction and KYC norms will be observed in the account as per extant guidelines.

Interest rate, periodicity and method of application of interest will be similar to our usual Savings Bank A/c.

There will be NIL Charges levied for non operation/ activation of in- operative/ dormant a/cs

Customers, having " Baroda Basic Savings Bank Deposit Account� will not be eligible to open any other Savings Bank in Bank and they will be required to close their other Savings Bank accounts, if any within 30 days of opening of Baroda Basic Savings Bank Deposit Account

Application Form for Individuals:

Contact Details:
Bank Of Baroda
B3, Connaught Circus,
Connaught Place
New Delhi,
Delhi 110001

Map Location:

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