Bank of Baroda Savings Account

Last Updated : Jan. 17, 2025, 3:57 p.m.

Bank of Baroda caters to a diverse clientele with its array of savings account options. Whether you're looking for an account that maximizes your earnings, one suited for monthly salary deposits, exclusive privileges, or specialized accounts for seniors and minors, Bank of Baroda has something to fit your financial needs. In this guide, we’ll delve into each type of savings account — examining their unique features, interest rates, and other essential details—to help you choose the best option for managing your finances effectively.

Types of Bank of Baroda Savings Account

Below, we have mentioned the different types of savings accounts offered by the Bank of Baroda along with their key features and benefits:

BOB Masterstroke Savings Bank Account

Here are the main features of this savings account by Bank of Baroda:

• Quarterly Average Balance (QAB): Rs. 10 lakhs
• Cheque Book Facility: Unlimited & available for free
• Debit Card Variant: Free VISA Opulence Debit Card
• Other Features:
• Cash withdrawal limit up to Rs. 5 lakhs per day (ATM)
• Free unlimited NEFT/RTGS/IMPS
• 100% discount on annual locker charges
• Lifetime free ETERNA Credit Card

BoB LITE Savings Account

Here are the key features of bob LITE Savings Account:

• Minimum Balance Requirement: Lifetime Free Zero Balance Account

• Debit Card: Free Rupay Platinum Debit Card subject to maintenance of Quarterly Average Balance (QAB):
  a) Rs. 3,000 (Metro/Urban)
  b) Rs. 2,000 (Semi Urban)
  c) Rs. 1,000 (Rural)

*If QAB is not maintained, an annual fee will be applied to the debit card.

• Other features : Attractive discounts and offers on travel, shopping, and e-commerce.

BoB Family Savings Account

Here are the key features of bob Family Savings Account:

• Quarterly Average Balance (QAB):
  (a) Baroda Silver Family: 0.50 lakh and above
  (b) Baroda Gold Family: 2 lakh and above
  (c) Baroda Diamond Family: 5 lakh and above
• Other features:
  a) Waiver on chequebook charges
  b) Free SMS/Email alerts
  c) Concession in locker rent charges
  d) Free Missed Calls and Internet Banking facilities.

BOB Champ Account

Here are the main features of bob Champ account:

• No minimum balance requirement
• DD Facility: Free per month for fee payment (to a maximum amount of 1 lakh)
• Debit Card: Theme-based RuPay debit card available to applicants above 10 years of age
• Other features:
  a) Mobile banking facility (above 10 years of age)
  b) Internet banking facility (above 10 years of age)
  c) Nomination facility.

Government Savings Account

Here are the key features of the Government Savings Account:

• Quarterly Average Balance (QAB): Nil
• Cheque Book Facility: Free, Unlimited
• Other Features:
  a) Internet banking
  b) SMS alerts
  c) Cash deposit free & unlimited

BoB Mahila Shakti Saving Account

Here are the key features of bob Mahila Shakti Saving Account:

• Suitability: The product is designed for women above 18 years of age.
• Quarterly Average Balance:
  (a) Rs. 3,000 (Metro/Urban)
  (b) Rs. 2,000 (S. Urban)
  (c) Rs. 1,000 (Rural)
• Debit Card: The RuPay Platinum debit card is free for a year with 2 lakh accident insurance for up to 70 years of age
• Other Features:
  a) Free SMS Alert Facility
  b) 25% waiver on issuance charges of travel/gift card.
  c) Complimentary accounts for children.

BoB Pensioners Savings Bank Account

Here are the key features of bob Pensioners Savings Bank Account:

• Minimum Balance Requirement: Nil
• Cheque Book Facility: Free unlimited chequebook
• Other Features:
  a) Life insurance available
  b) Overdraft facility available

BoB Platinum Savings Bank Account

Here are the main features and benefits of bob Platinum Savings Bank Account:

• Quarterly Average Balance (QAB): Rs. 1 lakh (Metro, urban, semi-urban, and rural)
• Cheque Book Facility: Unlimited
• Debit Card: Free personalized Visa Platinum Chip Debit Card
• Other Features:
  a) Free unlimited NEFT/RTGS/IMPS
  b) No charges for cash deposit
  c) Free SMS/e-mail alerts
  d) Sweep facility on request

BoB Senior Citizen Privilege Scheme

Here are the key features and benefits of bob Senior Citizen Privilege Scheme:

• Minimum Balance Requirement:
  a) Rural: Rs. 500
  b) Semi-Urban: Rs. 1,000
  c) Urban/Metro: Rs. 2,000

• Debit Card: Visa Platinum Debit card with cash withdrawal limit up to Rs. 1 lakh and purchase limit on POS up to Rs. 2 lakh per day
• Other Features:
  a) 25% waiver on annual locker rental charges
  b) Can be used as a pension account
  c) Attractive offers on health and wellness
  d) Higher interest with flexi fixed deposits

BoB Jeevan Suraksha Savings Account

Here are the essential features and benefits of bob Jeevan Suraksha Savings Account:

• Quarterly Average Balance (QAB): Rs. 2 lakh and above
• Minimum Balance Requirement: Rs. 2,000
• Cheque Book Facility: 30 leaves available free of cost
• Other Features:
  a) Life insurance cover up to Rs. 5 lakh
  b) Single or joint opening of account
  c) Auto/Reverse Sweep facility available

Eligibility Criteria for Bank of Baroda Savings Account

Here are the eligibility criteria you need to follow to open different types of bob Savings Accounts:

Bank of Baroda Savings Account Interest Rates 2026

Here are the savings account interest rates of Bank of Baroda that you must know:

Documents Required to Open BOB Savings Account

Here are the official valid documents required for accounts of individuals, NRIs, foreign students, and foreign nationals to open a BOB Savings Account:

For Individuals:

• PAN Card
• Passport
• Driving license with photo
• Document showing Aadhaar Number
• Voter’s Identity Card issued by the Election Commission of India
• NREGA Job card, signed by a state government officer
• Letter from the National Population Register with details of name and address

For Non-Resident Indians (NRIs):

• Proof of address with the current overseas address

For Foreign Students:

• Passport and Visa copy
• Identity card from college or institution
• Admission letter mentioning the course duration
• Official letter from the college or institution providing hostel accommodation, signed by the authorized signatory.

For Foreign Nationals:

• Valid Indian Visa
• Proof of address with the current overseas address.

How to Open Bank of Baroda Savings Account Online?

Here are the steps to open a savings account at Bank of Baroda online:

Step 1: Visit bankofbaroda.in on your smartphone.

Step 2: Tap the hamburger icon in the top left corner of your screen.

Step 3: Select “Accounts” and then choose “Open a Savings Account Digitally.”

Step 4: Click “Yes” to agree to the terms and conditions.

Step 5: Enter your email address, mobile number, and the OTP received, and select all required options.

Step 6: Input your PAN and Aadhaar Number.

Step 7: Choose the nearest branch and provide your personal and nominee’s details.

Step 8: Opt for any additional services like the balance check you desire and click on next.

Step 9: Complete the application and proceed to complete the video KYC for verification.

Step 10: After finishing the video KYC , your new BOB savings account is ready for transactions.

Remember to have your PAN card, Aadhaar card , and a handwritten signature ready for the video KYC, and ensure your phone’s camera is active.

How to Open Bank of Baroda Savings Account Offline?

To open a savings account with Bank of Baroda offline, follow these steps:

1. Visit your nearest Bank of Baroda branch and complete a savings account application form.
2. Provide the required basic information to a bank official to initiate the account opening process.
3. Select the type of savings account you would like to open.
4. Give the bank official self-attested copies of your Aadhaar card and PAN card.
5. Hand in the completed form along with a cash deposit slip or a demand draft if required, and additional documents that verify your identity, income, and residence.
6. Once the bank officials have verified your details successfully, they will open your account.

Upon opening your account, Bank of Baroda will issue you a welcome kit that includes a Baroda debit card, a chequebook, and other essential documents for your account management.

Things to Remember when Opening Savings Account with Bank of Baroda

Here are a few tips to remember when opening and managing a savings account with Bank of Baroda:

• Before choosing a savings account, check the interest rates to see how much you can earn on your deposits.
• Make sure the account’s minimum balance requirement fits your financial situation.
• Be aware of any fees for not maintaining the minimum balance.
• Find out the daily limits for transactions and withdrawals for the account.
• Check if there are extra fees for cash withdrawals with cheques and the monthly withdrawal limits at ATMs not affiliated with Bank of Baroda.
• If you notice any unauthorized transactions, contact the bank immediately.
• Never share your account password or PIN via email, text, or social media.
• Regularly review your bank statements to monitor for fraud and track your finances.
• If your debit card is lost or stolen, immediately block it through your BOB net banking or contact Bank of Baroda’s customer service.
• Avoid storing your bank account details on online shopping sites.
• Always close the webpage after completing an online transaction, and ensure you only shop on secure websites.