Open Bank Account in Bank of Baroda : BoB (Bank of Baroda) is one of the largest, trustworthy and a growing bank in India. If you plan to open a new bank account, one option must be Bank of Baroda. Opening a Bank Account in Bank of Baroda is not just visiting the Branch and getting your Bank Account opened immediately. There are a few formalities which you must complete to get a Bank of Baroda Account. Also, you must know about the eligibility criteria to open a new bank account in Bank of Baroda. Knowing all these things beforehand is a good thing, as you need to prepare yourself to apply for a bank account in Bank of Baroda.
How to Open a Bank Account in Bank of Baroda ?
Before we move ahead to know the procedure to open a bank account in Bank of Baroda, let us first know about the eligibility to open Bank of Baroda Account.
Eligibility to Open a Bank Account in Bank of Baroda
Before you make a visit to Bank of Baroda, it’s a good thing to check whether you meet all the criteria for opening an account with Bank of Baroda. Most of the Bank of Baroda Branches will require the following :
1) Applicant must be an Indian Citizen.
2) Applicant must be over 18 years of age (Except Minor Account).
4) Applicant should have a Guarantor who has a Bank Account in the same branch of Bank of Baroda (Sometimes not needed).
5) Applicant must have minimum deposit amount for the Account(Not applicable for some accounts). For Example :- Rs.1000 is required to open a normal Savings Account in Bank of Baroda.
Types of Bank Accounts offered by Bank of Baroda
Once you know that you are eligible to open a bank account in Bank of Baroda, you must choose the account that best suits your need. Here is a list of Bank Accounts that are being offered by Bank of Baroda.
1) Baroda Centenary Savings Account
Available at all Bank of Baroda branches in the country, this account is a superior savings account that has many value added services. Account Holders get a free debit card and also the advantage of immediate credit of outstation cheques( Checques from other city) of up to Rs.25,000. It also comes with the auto sweep facility by which funds will be transferred to term deposits just in case the amount exceeds a certain fixed amount. Auto reverse sweep is also available which can be made use of to auto reverse sweep to savings accounts from term deposits if need be to honor cheques.
2) Savings Bank Account
This is type of Bank Account is available for salaried employees who are currently working in public & private companies, central & state government, life and general insurance company agents and for students. This account is quite easy to operate and the deposits in this account are insured by DICGC. This type of Account has advantages like provision for nomination, a few flexible options for withdrawal of funds and no hidden costs.
3) Super Savings Account
This type of Account is offered to high value resident customers. It is available in urban and metro branches of Bank of Baroda. It comes with many advantages to the account holder such as free outstation cheque collection, reverse and auto reverse sweep facility and free issual of demand drafts.
4) Baroda Basic Savings Account
This type of Account is a no-frills account which can be opened with zero/nil balance with no ceiling on the amount held in the account. This basic account is available for all resident individuals who are eligible to open a savings account. This account was mainly introduced for common people with low and middle income like daily wage workers, housewives, workers in unorganized sectors, students and other people with low income. This account meets the requirements of a savings account and also offers value added advantages.
5) Baroda Salary Advantage Savings Account
This is a savings account with a lot of advantages such as overdraft, interest on credit balance, no minimum balance requirements and no maximum ceiling on the amount held in the account. This account is designed mainly for the employees of central & state government, PSUs, MNCs, reputed public limited companies etc.
6) Baroda Bachat Mitra
This savings account is mainly an overdraft facility that is secured by a pledge of term deposit. There is no minimum balance requirement for this Account. A fixed deposit facility comes along with this account with the minimum period of 12 months and the maximum period of 120 months.
7) Baroda Pensioners Savings Bank Account
This type of Account can be opened with a minimum value of just Rs.5. The Account Holders will be offered facilities like Baroda Connect internet banking facility, accidental death insurance cover worth Rs.1 lakhs, immediate credit of outstation cheques and free debit card. You can also avail free unlimited cheque book facility. All pensioners are eligible to apply for this Account that is being offered by Bank of Baroda.
8) Baroda Jeevan Suraksha Savings Bank Account
This Account can be opened at all the branches of Bank of Baroda. It can be opened by any resident individuals from 18 to 60 years of age. Account holders who open this Account also get life insurance cover from “India First Life Insurance Company Limited (IFLIC) for up to Rs.5 lakh. This account can be opened with just Rs.1000 and the minimum balance requirement on a daily basis is Rs.1000.
9) Current Account : Current Account is Bank Account provided to a business entity like Partnership firm, Limited Companies, Pvt. Ltd. Companies etc.
Read Also : Types of Joint Accounts
Steps to Open a Bank Account in Bank of Baroda
Once you have checked your eligibility and made up your mind with one of the bank accounts, you can proceed with the steps to open Bank of Baroda Account.
1) Gather the required KYC Documents : The first and the foremost thing to do is to gather all the necessary KYC documents to open a Bank Account in Bank of Baroda. You will need to provide the photostat copies of your Address Proof, Identity Proof, PAN Card, 2 Passport Size Photographs. Also, you would be required to produce the originals during verification process.
2) Collect & Fill Account Opening Form : Once you have gathered all the documents, you need to collect Bank of Baroda Account Opening Form from any branch of Bank of Baroda. Fill up Bank of Baroda Account Opening Form completely and put your signature wherever required. You can also take help of Bank of Baroda Officials if you have problem in filling up the form. You can also apply for Internet Banking and Mobile Banking through this form. However, you need to activate Bank of Baroda internet banking and mobile banking separately.
3) Visit the Branch : After you have the duly filled Bank of Baroda Account Opening form and the necessary KYC Documents, you need to visit the Bank of Baroda Branch in which you want to open your Bank Account.
4) Verification of Form & Documents : Talk to the Accounts Person or the Branch Manager about the Verification of form and KYC documents for new bank account. You will then be sent the concerned person for verification of form and the documents. Once the verification process is complete, you can proceed to the next step.
5) Submit Minimum Deposit Amount : Submit the minimum deposit amount by filling up the cash voucher by entering the amount as per the bank account you opted for. Example : – Rs.1000 in case of a Regular Savings Bank Account. You need to write New Account in place of your name in the cash deposit voucher.
6) Collect Passbook and ATM Card : Finally, you will be getting your Bank of Baroda Passbook and ATM-cum-Debit Card with your ATM Pin. Your ATM will take 1-2 days to get activated and your first transaction should be done by using Bank of Baroda ATM only. If you want a custom ATM Card with your name on it, you need to apply for it separately.
Note : If you have applied of a Cheque Book and/or Internet Banking, then you will be getting your Cheque Book and Internet Banking credentials by post at your registered address.
Good Practices after you get a Bank Account in Bank of Baroda
1) If you can memorize your Bank Details, PINs and Passwords , it’s a good idea to commit the following information to your memory so that you don’t need to rely on the documents in the future.
2) To make it more safe, Make a note of your Account Number, ATM Card no., PIN etc at a safe and secure location.
3) Save Bank of Baroda Customer Care Number in your mobile phone.
4) Contact Bank of Baroda customer care in case of any mishap with your Bank Account or if you have lost ATM card. If you think your account information has fallen into wrong hands, you must call or visit Bank of Baroda to request to block your account or a particular service on your account to prevent unauthorized use.
Read Also : How to Block Bank of Baroda ATM Card ?
Things you must know before opening a bank account in Bank of Baroda
You must know some important things before you apply for a bank account in Bank of Baroda. You can clear the queries mentioned below at any Bank of Baroda Branch or by calling Bank of Baroda Customer Care Numbers.
- Is there a monthly/quarterly fee for maintaining this Account in Bank of Baroda ? If so, what is it?
- Is there a minimum balance that I must keep within this Bank of Baroda account? If so, what is it? What sorts of fees have to paid if I go under that limit?
- What is the interest rate of my Bank of Baroda Account? How often is the interest generated ?
- Is there any limit to the amount of transactions per month (deposits/withdrawals, ATM uses)?
- Where all can I withdraw cash without paying any extra fees ?
- What is the fee for using other than Bank of Baroda ATM ?
Bank of Baroda Customer Care Numbers
At any point of time, you need help from Bank of Baroda Customer Care department, you can either reach them on the Toll Free numbers given below or can opt to write at the e-mail address mentioned below.
Toll Free Numbers : 1800223344 / 180010244 55 ( Timings : 06.00 a.m. to 10.00 p.m.)
Write to Bank of Baroda Customer Service Department : [email protected]
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