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What is a savings account?

Bank Of Baroda Savings Account

A savings account is the most basic form of account that allows an individual or an institution to conduct their everyday banking transactions via multiple channels – Branch banking, internet banking, mobile banking, etc. The balance maintained in the savings account accrues a nominal interest that is credited to the account on a regular basis. It is a convenience offered to individuals looking for a safe way to save surplus money.

Bank of Baroda Savings Account

Bank of Baroda has a dynamic and user-friendly banking solution to suit individual needs. Convenient internet banking tools allow customers to access their account from anywhere anytime. Their global presence, with more than 9500 branches and 13,400 ATMs, helps customers to avail their services from anywhere across the world. Their Core Banking Services is extended to include Enterprise-wide General Ledger, Risk Management, Cheque Truncation, Credit cards, NEFT, RTGS, SWIFT, Internet Payment Gateway, HR services, Payroll services and many more.

Bank of Baroda is truly a modern bank since it has highly secure and dynamic web services for quick and hassle-free banking.

Types of Bank of Baroda Savings Accounts

Baroda Advantage Savings Account

  • It is a simple deposit scheme available to the depositors. 
  • It is a zero balance facility available to account holders. 
  • The minimum balance of the savings account is,


Rs 500*


Rs 1000*

Urban / Metro

Rs 2000/-*

  • Daily Cash Withdrawal Rs. 50000
  • No charges for DD or Banker’s cheque issuance
  • Outstation Cheque collection free of charge and immediate clearance of outstation cheques up to Rs. 25000
  • Free Any Branch Banking
  • Concessions on Demat account maintenance charges

Baroda Champ Savings Account

  • Eligibility from 0 to 18 years. 
  • No minimum balance requirement
  • Maximum credit balance Rs.1,00,000
  • Free DD facility for paying monthly fees up to Rs. 1,00,000.
  • Per day transaction limit Rs. 5,000. (Combined transaction limit of Rs.3000 per day from ATM & POS)

Baroda Mahila Shakti Salary Accounts

  • 25% waiver on annual locker rental charges
  • 1st Year Free Platinum Debit Card with Rs.2 Lac Accidental insurance
  • Discount of 0.25% on the rate of interest on Two Wheeler Loan
  • Sweep facility is available on request only over & above Rs.50,000/- in multiple of Rs.10,000/- for 181 days & reverse sweep in multiple of Rs.1000
  • Maximum Rs. 50000/- per day withdrawal allowed to A/c holder only at outstation branches
  • The minimum quarterly average balance 
  • Metro/Urban – Rs.3000
  • S. Urban – Rs.2000
  • Rural – Rs.1000

Charges for not maintenance of minimum balance

  • Metro/Urban – Rs.300/- per quarter,
  • Rural/Semi-Urban –Rs.150/-per quarter

Baroda Platinum Saving Bank Account

  • Unlimited cheque-books for routine requirement
  • 10% discount on annual locker charge
  • Cash withdrawal limit up to Rs 1,00,000/- per day (ATM)
  • Metro/Urban/Semi-Urban/Rural –Rs.1,00,000 (minimum quarterly balance 
  • Sweep facility available on request over & above Rs.2,00,000/- in multiple of Rs.10000/- for 181 days. The reverse sweep will happen in multiple of Rs.10000
  • No charges for cash deposit up to Rs 1,00,000 per day in a non-base branch
  • Maximum Rs. 50000/- per day withdrawal allowed to A/c holder only at outstation branches
  • A superior savings bank account available at all CBS branches in India

Baroda Senior Citizen Privilege Savings Account

  • Resident Indian of 60 years & above are eligible to open the account
  • 1st year free Visa Platinum Debit card with cash withdrawal limit up to Rs.1,00,000 and purchase limit on PoS up to Rs.2,00,000 per day
  • Maximum Rs. 50000/- per day withdrawal allowed to A/c holder only at outstation branches
  • 25% waiver on annual locker rental charge
  • 50% waiver of processing fees on Reverse Mortgage Loan

Baroda Pensioners Savings Bank Account

  • Account opening for a low initial deposit of just Rs. 5/-
  • Auto Sweep facility
  • Overdraft facility for an amount equal to two months’ pension
  • Immediate clearance of outstation cheques up to Rs. 25000
  • Free Debit card
  • Internet banking, ‘Baroda Connect’, and BOBCARD Silver card with one year of accidental death insurance of Rs. 1,00,000
  • Free unlimited cheque book facility

Baroda Jeevan Suraksha Savings Bank Account

  • Opening of an account by minimum Rs. 1000/- only
  • Minimum Balance Rs. 1000/- on a daily balance basis
  • Charges for non-maintenance of minimum balance is Rs. 100/- plus Taxes, per quarter
  • Maximum Rs. 50000/- per day withdrawal allowed to A/c holder only at outstation branches
  • 20 cheque leaves free for every 6 months thereafter charges @ Rs.5/- per leaf will be levied
  • Auto Sweep facility available

Bank of Baroda Salary Accounts

Baroda Salary Premium

  • Net monthly salary above Rs 1,00,000 to Rs 2,00,000
  • Free 100 cheque leaves per year, thereafter Rs. 5 per leaf.
  • Free unlimited transactions at Bank of Baroda ATMs

Baroda Salary Privilege

  • Net monthly salary more than Rs 2,00,000
  • Free 150 cheque leaves per year, thereafter Rs. 5 per leaf.
  • Free unlimited transactions at Bank of Baroda ATMs

Baroda Salary Super

  • Net monthly salary above Rs 50,000 to Rs 1,00,000
  • Free 75 cheque leaves per year, thereafter Rs. 5 per leaf.
  • Free unlimited transactions at Bank of Baroda ATMs

Baroda Salary Classic

  • Net monthly salary of Rs 10,000 – Rs 50,000
  • Free 50 cheque leaves per year, thereafter Rs. 5 per leaf.
  • Free unlimited transactions at Bank of Baroda ATMs

Interest rates on Bank of Baroda Savings Accounts

ParticularsRate of Interest

Saving Deposits Balance up to Rs.1,00,000

2.75% p.a.

Saving Deposits Balance above Rs.1,00,000 but less than Rs.200 crore

2.75% p.a.

Saving Deposits Balance above Rs.200 crore but less than Rs.1,000 crore

3.05% p.a.

Saving Deposits Balance above Rs.1,000 crore

3.20% p.a.

Savings Account Charges

There are a few fees and charges associated with the maintenance of a Savings Bank Account


Issue of duplicate Passbook/statement

Rs. 100

Issue of additional cheque book

Rs. 4 per cheque leaf

Charges for non-maintenance of QAB

Rs. 50 - Rs. 1000

Addition/deletion of names in Joint Accounts/

Change in operational instructions (including Lockers)

Rs. 100 per occasion

Modification or change in Nomination

Rs. 100

Standing instructions

Rs. 50 + remittance fees

Cheque returned charges

Rs. 125 – Rs. 750

Charges for inoperative accounts


SMS Alert charges

Rs.15/- per quarter

Opening a Bank of Baroda Savings Account

Simply walk into the nearest branch of Bank of Baroda and talk to a customer service representative. Having the following KYC documents handy can speed up the process:

  • Identity proof
  • Address proof
  • Latest passport size photographs

Alternatively, you can fill in the necessary details on the website and a bank representative will visit you to collect the documents. In 48hrs you will have your cheque book and debit card delivered to you.

About Bank of Baroda Savings Account

Bank of Baroda is India’s second-largest public sector bank with national and international banking & financial services. It has been serving over 82 million customers in over 22 countries for more than a century. Bank of Baroda (BOB) is a pioneer of hi-tech banking solutions. It offers banking solutions to individuals, whether they are looking to conduct simple everyday transactions or working towards achieving their professional goals.

Bank Of Baroda Savings Account FAQ

1. What is the best interest rate that I can get on my savings account?

The maximum current interest rate offered for balances above Rs.1000 crores is 3.20% per annum. For the latest interest rates, it is advisable to contact the nearest branch.

2. How frequently is the interest credited for my savings account balance?

Interest earned on your savings account balance is credited to your account on a quarterly basis.

3. Are there any charges for non-maintenance of the minimum balance in my savings account?

Bank of Baroda has various Savings Bank account products that do not require you to maintain a minimum balance. However, some premium savings bank accounts attract a very nominal charge for non-maintenance of minimum balance. It is wise to check with the bank before opening the account.

4. What are some of the services I can avail of at a Bank of Baroda ATM?

Bank of Baroda ATMs allow you to perform a number of banking transactions apart from dispensing cash

  • Account Information
  • Cash/Cheque deposit
  • Regular Bill payments
  • Mini statement
  • Mobile recharge

5. Is there a limit on the cash withdrawal using my ATM card?

The cash withdrawal limit on an ATM card is set by the bank depending on the type of savings account linked to the card. For cash withdrawals at Bank of Baroda ATMs, a usual limit of up to Rs. 40000 is set. However, for other bank ATMs the cash withdrawal limit is set at Rs. 25000 in a day

Bank Of Baroda Savings Account - Customer Reviews

4 / 5 (96 Reviews)
25 Sep 2020

Product offers,Usefulness of information,Credit Report Analysis,Website/app interface,

18 Sep 2018


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