BOB savings accounts are available at any of the 5230 Indian branches or ATMs. Saving money with a Bank of Baroda savings account will be easy because of its personalized services, appealing features, and other unique benefits. The BOB Savings Account interest rates starts from 2.75% and can reach up to 3.35%.
Bank of Baroda Saving Account Interest Rate 2025
Balances | BOB Saving Account Interest Rate |
Below Rs. 1 lakh | 2.75% |
More than Rs. 1 lakh less than Rs. 10 crore | 2.75% |
Rs. 10 crores and up to Rs. 50 crore | 2.75% |
Rs. 50 crores and up to Rs. 100 crore | 3.00% |
Rs. 100 crores and up to Rs. 200 crore | 3.00% |
Rs. 200 crores and up to Rs. 500 crore | 3.05% |
Rs. 500 crores and up to Rs. 1,000 crore | 4.10% |
More than Rs. 1,000 crore | 4.50% |
Features of the Bank of Baroda Savings Account
- A passbook and cheque book is included with a Bank of Baroda Savings Account.
- Account holders get access to internet banking and mobile banking.
- As part of SMS banking services, banks also send transaction alerts to customers by SMS and email.
- Banks provide ATM/debit cards to savings account holders.
- Every savings account holder has access to a credit card.
- It is possible to pay bills with your savings account and shop with a debit or credit card.
- A Bank of Baroda Savings Account allows account holders to receive and make payments.
- You can set up auto debits and auto credits from your savings accounts.
- Savings bank account holders can use online banking and mobile banking to meet their financial demands.
Types of Savings Accounts in Bank of Baroda
Pensioners Savings Bank Account of Baroda
This account could be started with Rs.5. Cardholders will receive benefits such as Baroda Connect internet banking, accidental death insurance coverage of Rs.1 lakh, rapid credit of outstation checks, and a free debit card. A free limitless cheque book facility is also available, and all retirees are entitled to apply for this Bank of Baroda scheme.
– Baroda Mahila Shakti Saving Account
This scheme is available to women who have a Bank of Baroda savings account. If you use this scheme, you will be able to earn a higher interest rate on your Flexi-fixed deposit. There are enticing offers on cosmetics, lifestyle, grocery, and other items under this scheme. You can also get personal accidental insurance, as well as a low-interest rate on two-wheelers and educational loans.
– Super Savings Plan
This scheme is open to high-value resident clients in urban and metro areas. It provides several benefits to account holders, such as free outstation cheque collection, reverse and auto reverse sweep, and free issuance of demand drafts.
– Savings Account for Senior Citizens Offered by Baroda
If you are a resident of India and above the age of 60, you are eligible for the Bank of Baroda’s scheme. You are given a free Visa Platinum Debit card for the first year, with a withdrawal limit of up to Rs.1 lakh and a purchase limit of up to Rs.2 lakh at PoS (Point of Sale). When you opt for a reverse mortgage loan from the Bank of Baroda, you will also be given a 50% discount on your processing charge. You can make an unlimited number of transactions at any Bank of Baroda ATM.
– Baroda Salary Bonus
If your net monthly pay is Rs. 1 lakh or more but less than Rs.2 lakh, you are eligible for this scheme. If you take out a home loan, auto loan, school loan, mortgage loan, or personal loan from Bank of Baroda, you will be given an Accidental Death Insurance Cover as well as a 75% waiver on the processing cost. When you use this scheme from Bank of Baroda, you will also receive a lifetime free Baroda Premier Credit Card with 5 times more reward points.
– Salary Privilege at Baroda
If your net monthly earnings are Rs. 2 lakh or more, you are eligible for this loan. If you take out a home loan, auto loan, school loan, mortgage loan, or personal loan from Bank of Baroda, you will be granted an Accidental Death Insurance Cover as well as a 100% waiver on the processing cost. When you open a savings account with the Bank of Baroda, you will also be eligible for a lifetime free Baroda Premier Credit Card.
– Classic Salary of Baroda
This scheme is for you if you work at an entry-level or as a trainee in a company and your monthly pay is less than Rs.50,000. This scheme entitles you to an accidental death insurance policy as well as a 25% reduction in the processing charge for a Bank of Baroda housing loan, auto loan, school loan, mortgage loan, or personal loan.
– Salary Super Baroda
If your net monthly pay is Rs.50,000 or more but less than Rs.1 lakh, you are eligible for this scheme. If you take up a home loan, auto loan, school loan, mortgage loan, or personal loan from the Bank of Baroda that includes Accidental Death Insurance Cover, you will be entitled to a 50% processing fee waiver. Under this arrangement, you are also eligible for a 10% discount on locker rent.
– Baroda Advantage Savings Account
This is a savings account with no balance for both salaried and self-employed individuals. This savings account provides the consumer with a number of benefits, including a debit card, a cheque book, and a passbook. The lender pays all of the savings account interest, which I compute daily. On a quarterly basis, the interest is deposited into your account.
– SB Account of Baroda Government Bodies
This savings account is available to self-help groups in two forms: general self-help groups and self-help groups for women’s empowerment. To take advantage of the merits of this savings account system, a minimum balance of Rs.1,000 must be maintained.
– Self-Help Group of Baroda SB
This savings account is available to self-help groups in two forms: general self-help groups and self-help groups for women’s empowerment.
– Account Baroda Champ
Students between the ages of 0 and 18 can participate in this savings account scheme. A low quarterly average balance of Rs.1,000 is required, and the account can be utilized to pay the school fee with no costs imposed by the lender. For payments of up to Rs.1 lakh in school fees, the demand draft and NEFT/IMPS facilities are free per month. There is no issuance fee for debit cards. However, there will be a fee for renewal. After the age of 15, students can use the internet and mobile banking.
Documents Required
- Application form duly completed.
- Passport-size pictures.
- A permanent Account Number (PAN) card, voter card, passport, driving license, and other forms of identification and address proof are acceptable.
- Introduced in accordance with bank regulations.
- IT certification.
How to Open a Savings Account in Bank of Baroda?
- Step 1: Install the Bank of Baroda app on your phone.
- Step 2: Click on the hamburger icon located in the top left corner of the screen.
- Step 3: Click ‘Accounts’ and choose ‘Open a Savings Account Digitally’.
- Step 4: Click ‘Yes’ if you agree to all the terms and conditions.
- Step 5: In the next step, enter your mobile number, product type, and sub-product and click ‘Generate OTP’ to receive the code.
- Step 6: Enter your basic details along with Aadhaar number and PAN card number.
- Step 7: Once completed, bank executives will verify the documents and reach out to you.
- Step 8: The Savings account application will then be completed. Now, you need to process the video KYC for further verification.
- Step 9: Once you are done with video KYC, you can begin operating the new BOB savings account.
FAQs
What is the interest for Rs.1 lakh in the Bank of Baroda savings account?
The interest rate applicable for Rs.1 lakh in the Bank of Baroda savings account is 2.75%.
How to Close Bank of Baroda Savings Account?
- Step 1: A written request letter needs to be submitted to the bank to close the savings account.
- Step 2: Fill out the Bank of Baroda savings account closing form.
- Step 3: Enter all the necessary details to complete the application. Details include the account holder’s name, mobile number, account number, and the method they would like their funds to get credited to their account, including cheque, cash, or fund transfer to another account.
- Step 4: Account holders must sign the closing form and submit it to any local branch of BOB, either to the officer in charge or their branch manager.
- Step 5: When submitting the savings account closing form, the account holder must provide their passbook, chequebook, and debit card. Moreover, if there are any unused cheques left, he/she should submit them as well.
- Step 6: Documentation proof, including PAN card, must be submitted along with an attachment of the KYC documents.
- Step 7: Upon submission of all the necessary documents to the bank, the account holder’s request for cancellation of their savings account will start.
- Step 8: Once the verification is completed, the account holder needs to withdraw the balance amount, if there is any.