Product Details
Bank Name
Bank of Baroda
Account Name
Baroda Professional Saving Bank Account
Account Type
Saving
Interest Rate
Upto 1 lakh -2.75%p.a and Above 1 lakh but less than 100cr - 2.75%p.a
Free Debit Card
RuPay Select
Account Opening Fees
0
Debit Card Charges
NIL
Annual Maintenance Fees
0
NEFT Charges
Free through Baroda Connect / bobWorld /Branch.
Minimum Account Balance
Minimum Quarterly Average Balance (QAB): Rs.25, 000
IMPS Charges
Free through Baroda Connect / bobWorld /Branch..
Fees and Charges of
Baroda Professional Saving Bank Account
Baroda Professional Saving Bank Account
Special Features
Additional VISA Platinum debit card on request of the user.
Waiver on Demat AMC for 1st year.
The debit card comes with various benefits like: Daily POS/E-commerce transactions Up to Rs 5, 00,000, card can be used for domestic as well as international transactions, personal accident and total disability cover of Rs. 10 lakhs, complimentary one spa session free at O2/Aroma Thai/Four Fountain/Kairali Ayurvedic, complimentary membership in Gold’s Gym/Talwalkar Gym, complementary/discounted health check-up facility – SRL Diagnostic/Thyrocare.
Eligibility Criteria
Benefits
Features, Eligibility and Benefits of
Baroda Professional Saving Bank Account
Pros & Cons of
Pros
Free 50 cheque leaves in a year.
Waiver on Demat AMC for 1st year.
The debit card comes with various benefits like: Daily POS/E-commerce transactions Up to Rs 5, 00,000, card can be used for domestic as well as international transactions, personal accident and total disability cover of Rs. 10 lakhs, complimentary one spa session free at O2/Aroma Thai/Four Fountain/Kairali Ayurvedic, complimentary membership in Gold’s Gym/Talwalkar Gym, complementary/discounted health check-up facility – SRL Diagnostic/Thyrocare.
Cons
Low interest rate.
Baroda Professional Saving Bank Account
Baroda Professional Saving Bank Account
The account offers quite low interest rate. However, the account comes loaded with a number of value add features.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Review of
Baroda Professional Saving Bank Account
Account Opening and Procedure of
How to open an Account?
You can open a savings account in Bank of Baroda either online or offline. Here's a breakdown of both methods:
Online Method
Download the app: Download the Bank of Baroda mobile app, "bob World," on your smartphone.
Start the application: Open the app and look for the "Open a Savings Account Digitally" option.
Provide details: Enter your mobile number, product type, and sub-product. Click "Generate OTP" to receive a verification code.
Enter information: Provide your PAN card and Aadhaar card numbers along with other required details.
Verification: The bank officials will verify your provided details and contact you for further verification.
Complete Video KYC: You'll need to complete a Video KYC process for final verification.
Offline Method
Visit a branch: Go to your nearest Bank of Baroda branch.
Collect the form: Ask for the savings account opening form.
Fill in the details: Fill out the application form accurately.
Submit the form: Submit the filled-out form along with copies of your KYC documents (Aadhaar card, PAN card, proof of identity, and proof of address) and passport-size photographs.
Verification: The bank will verify your documents and process your application.