Overview on Bank of Baroda Zero Balance Account Opening Online. How to Open a Bank of Baroda Zero Balance Account. Zero balance account bank of baroda
Bank of Baroda Zero Balance Account
The banking sector is flexible as it accommodates everyone regardless of financial status. There is always a package for every user. This encourages people to open and save funds using different saving account options. One can opt for minimum balance accounts or zero balances based on their financial goals. Both saving accounts are unique and offer a variety of benefits to users. Indian banking and financial institutions provide vast saving account options for an easy banking lifestyle.
Bank of Baroda (BoB) saving accounts
Bank of Baroda ranks as the second largest public bank in India. It’s also among the ancient banking institution in the country. The bank was established in 1908 and continues to serve millions of people in and outside India. Registered members can access various saving account options to accommodate their financial needs.
The bank has accounts for senior citizens, minors, salaried users, super savings, and more.Interested account users can select their preferred account based on account features, benefits, and finances. The majority of the accounts require an average maintenance balance which can be a hindrance for many account holders.
The Bank of Baroda has zero balance saving accounts to encourage all users. The account doesn’t need maintenance and operates like a regular saving account. Zero-balance accounts also earn remarkable interest rates based on the account balance.
Benefits of Bank of Baroda saving accounts (Zero balance accounts)
- Applicants receive a free chequebook, debit card, and passbook.
- Account users can withdraw funds multiple times.
- No accumulating monthly maintenance balance or penalties.
- Easy to connect with banking facilities such as internet banking and mobile banking apps.
- Accountholders can use digital payment options.
Bank of Baroda Zero Balance Account Opening Online
Types of BOB Zero Bank Accounts
Baroda Super Salary Account
- The super salary account is a zero-balance account; no minimum balance is required.
- The user is eligible for discounts issuance of DD/BC.
- The bank provides a maximum overdraft of Rs. 1lakh.
- Free use of RTGS/NEFT/IMPS/UPI.
- A free debit card and 75 cheque leaves.
Baroda Salary Premium Account
The salary premium account is also a zero balance account with various benefits as follows:
- It’s a zero-balance account.
- Users will receive 100 cheque leaves every year.
- Bank will provide a free debit card, internet banking, and mobile banking services.
- A cash withdrawal limit of Rs. 50,000.
- Online purchase limit of Rs. 1 lakh.
- The user will receive a 15% discount on locker rent.
Baroda Salary Privilege
Applicants of the Baroda salary privilege account will receive the following benefits.
- It’s a zero-balance bank account.
- The account user will have 150 cheque leaves annually.
- The bank will offer a 100% waiver on housing, auto, education, and personal and mortgage loans.
- A 20% discount on locker rentals.
Baroda Saving Account/Baroda Govt. Bodies SB Account
- The account has no minimum balance or minimum QAB.
- A free chequebook.
- The bank doesn’t charge on withdrawals or deposits at the home branch.
- Free charges on RTGS/NEFT/IMPS
- Users can avail of mobile banking and internet banking.
Baroda Pensioners Saving Account
- The pensioner’s account is a zero-balance account.
- The user can access the nomination facility.
- A free chequebook, debit card, internet banking, and mobile banking.
How to Open a Bank of Baroda Zero Balance Account
Step by step to apply for a Bank of Baroda saving account/Zero balance account
Bank of Baroda allows for online and offline account opening processes. To apply for your savings account, the user must visit the nearest bank branch.
- Go to the Bank of Baroda branch.
- Request for saving account opening application form.
- Submit the required documents.
- The bank executive will review the details and approve the account.
Required Documents for Opening a Saving Account
- Passport size
- Identity proof documents: license, passport, PAN card, Aadhaar card, etc.
- Address proof: driver’s license, Aadhaar card, voter ID, utility bills such as electricity bill.
The bank will request any other document or initial fee based on the account.
Can NRI open a basic saving account?
No, the account is available to Indian residents only.
What is a zero-balance account?
Zero balance account doesn't require any monthly or quarterly balance. No charges will apply if the user doesn't provide the maintenance balance.