This simple basic banking product is in the nature of Small Savings titled as " Baroda Basic Savings Bank Deposit Account " without any frills / hidden charges etc.
All resident individuals, who are eligible to open a savings bank account with the branch. The product is ideally suited for all common people, especially who are having low and middle income such as wage earners, workers in unorganized sectors, house wife, students and all other individuals having low net worth to inculcate a habit of savings through this basic banking product.
Who can open the account
All resident individuals in single or joint names who are eligible to open Savings Bank Account. This product is not for Non Resident Indians, Trusts, Societies etc.
The Account can be opened with Zero Balance also.
There is no ceiling on the amount deposited/held in the account. However, in accounts of minors of age between 10 years and 14 years maximum amount that can be kept in the account is Rs. 1 lakh.