You may need to maintain a certain minimum balance in your savings account, depending on the type of account you hold. Minimum Balance required for opening and operating the account is as follows failing which AED 50/- will be deducted every month for non compliance. The customers can open a savings account in the bank if they want to save their money for the future. for balance upto Rs. Customers who are maintaining other variants of saving account (14 variants) and the saving bank scheme under financial inclusion and social schemes will not be impacted by this revision," Karnavat added. The maximum charges for non-maintenance of minimum QAB are at … After the cut savings account with balance below Rs 50 lakh will earn 3.25 per cent a year and an account with balance above Rs 50 lakh will earn 3.75 per cent. So, the bank provides few methods that can be used by the customers of Bank of Baroda to check their updated account balance. It is suitable for Residents and Non Residents, Charities, Clubs, Association and Trusts. Explore Open savings account online with best interest rate at Bank of Baroda & choose from various types of savings account with great banking experience in India Key Features. 4] Hit on your investment: Having a bank savings account requires maintaining minimum balance as well. Zero Balance Savings Bank Account. Minimum balance of NZ$500 or US$500. Apply for Baroda Advantage Savings Account today at Bank of Baroda & access your account anytime & anywhere under your finger tips. Bank of Baroda have various type of account for our customers as per there requirements. 20,000 is transferred to a fixed deposit account at a minimum value of Rs. 3. Saving accounts give you the liberty to choose according to your needs and additionally give you benefits for your all your transactions. Bank of Baroda has various Savings Bank account products that do not require you to maintain a minimum balance. If balance reaches to a stage when minimum balance charges are not recoverable from the account, Bank has the right to close such account The bank has not changed the penal amount for non-maintenance of minimum QAB. Only the slabs have been changed. 10,000 for a minimum period of 181 days to earn a higher rate of interest. 1 lakh in all saving account. This is one of the basic and flexible deposit options for resident individuals with Passbook Facility suitable for Micro Finance customers. Minimum balance is to be maintained from subsequent month. Savings Bank Account. This account can be opened by central, state government employees, private/public limited companies, students, agents of general & life insurance companies and those receiving compensation for … Interest is credited in the account at the end of every month. Poelo Savings Account earns for you rate of interest maximum up to 5% p.a. 1 lakh. This scheme is available in urban and metro cities and offers many advantages to the customer. New Delhi: Bank of Baroda (BoB) will be increasing the minimum quarterly average balance that has to be maintained in its advantage savings account. Interest is calculated and applied on a monthly basis on the minimum balance during the month. Are there any charges for non-maintenance of minimum balance in my savings account? Savings Account. The account provides an auto sweep facility wherein the excess balance in the savings bank account exceeding Rs. This account is an option to cultivate the habit of banking and saving. Rate continued at 2.75% p.a.