Bank of Baroda is a nationalized bank providing an array of banking services. The bank gets counted among the leading financial and banking service companies. It offers different schemes and banking services with an aim to serve its customers with the best banking services.
If you are interested in opening a savings account with, Bank of Baroda, you must collect maximum information about the schemes and offers that you can avail with your savings account at Bank of Baroda.
The bank provides different types of savings accounts with unique features and facilities to fulfill the banking needs of the account holders.
Types of savings bank at Bank of Baroda
- Baroda Centenary Savings Account
- Savings Bank Account
- Super Savings Account
- Baroda Basic Savings Account
- Baroda Salary Advantage Savings Account
- Baroda Bachat Mitra
- Baroda Pensioners Savings Bank Account
- Baroda Jeevan Suraksha Savings Account
Bank of Baroda Saving Account Interest Rates
Bank of Baroda provides 3.5% Interest Rates on Savings Deposits Balance up to Rs 50 Lakhs and 4% Interest Rates for deposits above Rs 50 Lakhs. Bank of Baroda calculates the interest rates based on the available balance in the account and pays on a quarterly basis.
| Saving Deposits | Interest Rate (% p.a.) |
|---|---|
| Deposit Balance Below 50 Lacs | 3.50 |
| Deposit Balance Above 50 Lacs | 4.00 |
Learn about minimum account balance maintenance
The banks regulate new rules ensuring customer’s convenience. Recently, most of the banks revised the minimum account balance maintenance amount. Let’s learn about the minimum account balance amount regulated by Bank of Baroda.
Bank of Baroda Minimum account balance maintenance amount in savings accounts
- Baroda Centenary Savings Account – Not Applicable
- If you open a Savings Bank Account at Bank of Baroda, the bank offers no Minimum Balance maintenance facility with the account.
- If you open a Super Savings Account with Bank of Baroda, you need to maintain Rs 20, 000 as quarterly balance.
- With Baroda Basic Savings Account you need not maintain any Minimum Balance in your account.
- If you open Baroda Salary Advantage Savings Account, you need not keep any minimum balance in the account.
- You can enjoy ‘no Minimum Balance maintenance‘ with Baroda Bachat Mitra savings account.
- You can open Baroda Pensioners Savings Bank Account at Rs 5, and you need to maintain the same amount as the minimum balance.
- If you open Baroda Jeevan Suraksha Savings Account, you need to maintain Rs 1000 daily in your account.
| Type of Saving Account | Minimum Average Balance | Penalty Charges for Not maintaining Minimum Average Balance |
|---|---|---|
| Savings Bank Account | Zero | NIL |
| Super Savings Account | Rs 20000 Quarterly | Rs 1000 per quarter |
| Baroda Centenary Savings Account | NA | NA |
| Baroda Basic Savings Account | Zero | Zero |
| Baroda Salary Advantage Saving Account | Zero | Zero |
| Baroda Bachat Mitra | Zero | Zero |
| Baroda Pensioners Savings Bank Account | Zero | Zero |
| Baroda Jeevan Suraksha Savings Bank Account | Rs 1000 on daily balance basis | Rs 100 + Taxes, per quarter |
Penalty charges for non-maintenance of the minimum account balance
- The non-maintenance cost for Baroda Jeevan Suraksha Savings Account is Rs 100 plus Taxes quarterly.
- As Bank of Baroda didn’t introduce any strict rules for minimum account balance maintenance, the customers need not pay any penalty for failing to maintain the minimum account balance in the savings account.
Bank of Baroda offers flexible and incredible banking services to its customers with the best banking services. Before opening a savings account with Bank of Baroda, you need to learn about different types of the savings account at the bank.
With a clear idea, you can select the appropriate account that would fulfill your needs of banking services!