Product Details
Bank Name
Bank of Baroda
Account Name
Salary and Pension Solutions for Indian Military Personnel
Account Type
Salaried
Interest Rate
Upto 1 lakh -2.75%p.a and Above 1 lakh but less than 100cr - 2.75%p.a
Free Debit Card
Yoddha Debit card
Account Opening Fees
0
Debit Card Charges
0
Annual Maintenance Fees
0
NEFT Charges
Free online
Minimum Account Balance
0
IMPS Charges
Free online
Fees and Charges of
Salary and Pension Solutions for Indian Military Personnel
Salary and Pension Solutions for Indian Military Personnel
Special Features
Free Add-on covers like Daughters’ Marriage Cover (18-25 Years): upto ₹ 6 Lakhs, Child Higher Education cover: upto ₹ 6 Lakhs, Air Accident Insurance cover upto ₹ 1 Crore.
Permanent Total Disability (PTD) cover upto ₹ 40 lakhs.
Permanent Partial Disability (PPD) cover upto ₹ 20 lakhs.
Cost of Plastic Surgery / Burn- maximum upto ₹ 2 lakhs.
Eligibility Criteria
Benefits
Features, Eligibility and Benefits of
Salary and Pension Solutions for Indian Military Personnel
Pros & Cons of
Pros
Lifetime free debit card.
Free accidental death and permanent total disability cover of ₹ 10 lakhs is offered through Yoddha Debit card.
Permanent Total Disability (PTD) cover upto ₹ 40 lakhs.
Permanent Partial Disability (PPD) cover upto ₹ 20 lakhs.
Cost of Plastic Surgery / Burn- maximum upto ₹ 2 lakhs.
Unlimited free transactions at all ATMs.
Cons
Low interest rate
Salary and Pension Solutions for Indian Military Personnel
Salary and Pension Solutions for Indian Military Personnel
The account comes loaded with a number of value add features. However, the account offers low interest rate. It can be considered by individuals who are looking for a good package 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
Salary and Pension Solutions for Indian Military Personnel
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.