Baroda Small Business Current Account

The Correct Account
for Your Business

Baroda Small Business Current Account.

Baroda Small Business Current Account (BSBCA)

  • This Account is specially customized to cater to Banking needs of small business accounts run by
    • Individuals
    • Proprietorship firms
    • Partnership Concerns
  • Best suited for
    • Start Ups
    • Mom & Pop stores.
  • This account is based on concept of "PAY AS YOU USE"
  • Available only for Metro & Urban centers.
  • Lower Quarterly Average Balance unlocks the potential of funds in the account for use in businesses.
  • 5 Non ADC transactions are free per month.
  • Unlimited free digital transactions.

Key Features & Charges

Maximum Annual Turnover Permissible Annual Turnover in a Financial year is capped at Rs. 20 lakhs.
Transaction Charges
  • First 5 non ADC transactions are free/month after which Rs.10 +Taxes per transaction will be levied for all non ADC transactions routed through branches till annual turnover reaches Rs 20 lakhs.
  • If Annual turnover crosses Rs 20 lakhs, transaction charges @ Rs 15+ Taxes   per transaction will be levied.
  • All ADC transactions are free irrespective of number.
Minimum Quarterly Average Balance (QAB)  Requirement QAB – Rs. 2500/-
Cheque Book First  cheque book of 50 leaves free, thereafter charges per leaf will be levied @ Rs 5/-+ Taxes.
Minimum Balance charges for non maintenance of Quarterly Average Balance (QAB) Rs. 300+Taxes per Quarter
Debit card Ru-Pay card (for Individuals & proprietors only) – Free for first year and chargeable subsequently as per standard rates.

Cash Deposit

Base Branch and Local Non Base Branch.
  • Cash deposit upto Rs. 50000/- or upto 10 packets i.e. 1000 pieces of notes of any denominations taken together, whichever is higher – Free of charge per day.
  • Above  10 Packets i.e. 1000 pieces of notes charges will be levied @ Rs. 10/- per packet or a part thereof. (Min. Rs. 10/- & Max. Rs. 10000/- plus Taxes as applicable.
Outstation Non Base Branch No cash handling charges up to Rs. 50000/- per day per account thereafter in excess  of Rs. 50000/- service charge is @ Rs. 2/- per thousand or part thereof.

Cash Withdrawal

Local Base Branch Free of charge in respect of any amount/any number of cash withdrawal per day per account.
Local Non base /Outstation Non Base Branches First two cash withdrawals of any amount per account per calendar month is free of charges  thereafter  each cash withdrwal per day per account in excess of Rs. 25000/-, service charge @ Rs. 2/-  per thousand or part thereof) is applicable.

Note

  • No Cash payment to third party.
  • Per transaction limit of Rs. 50000/- to customers through self cheque.

Other Features & Charges

Mobile Banking/Internet banking Free
Statement of accounts
  • Free two times in a month.
  • One statement (Hard Copy) free in a month.
  • Free e-statement on registered e-mail provided minimum 4 transactions per month are there in the account.
Folio Charges
  • Minimum charges – Rs. 75/-
  • Free Folio allowed p.a. based on Avg. Cr. Bal
    • If Avg. Cr. Bal. upto Rs. 1 lacs – Nil
    • if Avg. Cr. Bal. > Rs. 1 lacs – All Free
Remittance As per Standard charges of NEFT/RTGS

Other Common Charges

Premature Closure Charges (If account closed within a year)
  • Individuals : Rs 250/- + Taxes
  • Others : Rs. 500 + Taxes
SMS Alerts Rs. 25/- + Taxes per Quarter.

Other value Added Features

Discount on DEMAT services Waiver of 1st year AMC charges of  250/- for individuals and Rs 550/- for Non individuals. ( individuals, partners, proprietors)
Cash Recyclers and Deposit machines Available at our 24x7 E-Lobbies.
Payment Solutions
  • Baroda e-Gateway.
  • Cash management & Remittance facility available.
  • POS facility available.

Debit Card Related Charges

ATM Transactions at other bank ATM (India) Rs. 20/- for every  transactions
Card Replacement charges (in India) Rs. 200/- per replacement.
Pin Generation Rs. 150/- per regeneration.
Transactions at Rupay enabled ATMs (Abroad)
  • RuPay Platinum Card only is eligible for international transactions.
  • Cash Withdrawal Rs. 400/- per withdrawal.
  • Balance enquiry: Rs. 75/- per enquiry.

Eligibility

This account can be opened by small businesses (i.e. individuals, proprietorship & partnership concerns only). Account is available in Metro & Urban centers only.

Transactions

  • All genuine purpose oriented transactions are allowed. Annual turnover permissible in the account is capped at Rs. 20 lakhs.
  • First 5 non ADC transactions are free/month after which Rs.10 +S. Tax per transaction will be levied for all non ADC transactions routed through branches till annual turnover reaches Rs 20 lakhs.
  • If Annual turnover crosses Rs 20 lakhs, transaction charges @ Rs 15+ S. Tax  per transaction will be levied.
  • All ADC transactions are free irrespective of number.

Transfer Transaction

In case of transfer transaction one entry i.e. either debit or credit entry of the transaction must be in the branch transferring the fund.

Cash Deposit

  • At base branch and local non-base branch : Upto Rs.50000/- Or Up to 10 packets i.e. 1000 pieces of notes of any denominations taken together, whichever is higher - free of charge per day. For additional 1000 pieces (10 packet) or part thereof charges @Rs.10/- (Min Rs.10/- & Max. Rs.1000/-) will be charged.
  • At outstation branches : There is no restriction for cash deposit in outstation branches if PAN is available in the account. For amount up to Rs. 25000/- per day per account free of charges. Cash deposited in excess of Rs. 25000/-, service charges will be levied at Rs.2.50 plus service tax per thousand or part thereof. Without PAN or Form No 60/61 max. amount of Rs.49999/- cash can be deposited in the account in a day
  • At Cash machines : Cash deposit with debit card is allowed up to Rs.2,00,000/- (2 Lacs) per day where PAN is registered and Rs.49,999/- where PAN is not be registered in account. Card less transaction (by feeding account number) is allowed up to Rs. 20,000/- per day. Fake note, Suspicious Note is impounded and receipt will given to the customer. Torne/Mutilated/Taped notes are not accepted by this machine.

Minimum Balance Requirement

Minimum Quarterly Average Balance (QAB) – Rs. 2500/- .Non-maintenance of Minimum QAB will attract Rs.300/-+ST per quarter.

Interest Payment

No interest is payable in current account.

Withdrawal(s)

  • Withdrawal allowed by cheque only. No upper limit for cash withdrawing at base branch. At local non-base branch and outstation branches cash withdrawal is allowed to account holder up to Rs.50,000/- per day only by self cheque. Third party cash payment at non-base branches is not allowed.
  • Free (system will not charge Rs 10/ as transaction charges upto 5 transactions per month).

Statement of Account

  • Statement of Account is provided once a month free of cost. Duplicate statement will be issued with present balance only @ service charge of Rs.100/-+Service Tax. For old entries of individual accounts charges @ Rs.75/-per ledger page (25 entries treated as one ledger page). For Non-individual accounts charges @ Rs.150/-+service Tax for duplicate statement with current Balance only. For old entries the rate is Rs.150/- per ledger page for non-individual accounts.
  • One statement (Hard Copy) free in a month.
  • Free e statement on registered e mail provided minimum 4 transactions per month are there in the account.

Folio Charges

If the Quarterly average balance in the current account is maintained above Rs.1,00,000/- No Folio Charges. Otherwise folio charges will be recovered @Rs.75/-+Service Tax per folio for every 25 entries. QAB is calculated from 16th March to15th June., 16th June to 15th Sept, 16th Sept to 15th Dec. & 16th Dec to 15 March every year.

Cheque Book

No charges on issuance of first cheque book of 50 Leaves on opening a Current account. Subsequent Cheques will attract charges @Rs.5/- + Service Tax per leaf.

Debit Card

RuPay Card (for individual & Proprietors only) – Free for first year and thereafter charges @ Rs. 100/-+ST p.a. will be levied.

Discount on DEMAT Services

Waiver of 1st year AMC charges of 250/- for individuals and Rs 550/- for Non individuals. ( individuals, partners, proprietors).

Standing Instruction

For Standing Instruction within the Bank there is no charge. Charges @Rs.50.00+Remitance Charge+ Postage charged for SI sent out of the branches. Charges @ Rs.100/-per occasion will be deducted if the instruction could not be executed on a particular date due to insufficient balance.

Transfer/ Closure of Accounts

A/c can be transferred/ closed at the written request of customers only. New cheque book will be issued to him. No charges required for transfer of an account. For closure of Current account within one year @ Rs.250/-+S T (Individual name) & @Rs500/-+S T (others) will be deducted.

A/c Becoming Dormant

If transaction is not done in a current account for a period of 2 years the account becomes inoperative/Dormant and charges @ Rs.200/-+S tax will be recovered on Half-yearly basis. This charge is over and above the Minimum balance charge if QAB in the account is not maintained.

Unclaimed Deposit

Account remaining Dormant for 10 years are treated as unclaimed deposits and are transferred to RBI.

Disclosure

The Bank may disclose information about Customer’s account, if required or permitted by law, rule or regulations, or at the request of any public or regulatory authority or if such disclosure is required for the purpose of preventing frauds, or in public interest, without specific consent of the account holder/s.

Alerts

Facility of SMS Alerts charges : Rs.25/-+ ST per quarter.

All relevant policies including code of commitment to customers and grievances redressal policies are available at the branch.

The bank will notify, 30 days in advance, any change in Terms & Conditions /fee and charges on its website.

DICGC Insurance Cover

Details of insurance cover in force under the scheme offered by Deposit Insurance and credit Guarantee corporation of India ( DICGC) to the extent of Rs.1/- lakh per depositor.

Addition/deletion of Joint Holder

Rs.100/-+ST per occasion (No charges in case of death).

Addition/Changing Nominee

Rs.50/- +ST per occasion (No charges in case of death)

Change of Authorized Signatory

Rs.250/- per change

Stop Payment

Rs.200/-+ST per Instrument; Rs.1000/-+ST for whole cheque Book

Issuance of Balance Certificate

Rs.75/-+ST (for Individual); Rs.150/-+ST (for others)

Allowing operation through POA/ Mandate

Rs.1000/-+ST

Opening A/c with Restrictive Operation

Rs.500/- per instruction

Cheque Return Charges : Inward Return Charges

Rs.125/-+ST (Up to Rs.1 Lac); Rs.250/-+ST Rs.(1 Lac to 1 crore)& Rs.500/- (Above 1 Crore). Outward Return Charges Rs.250/-+ST (Up to Rs.1 Lac); Rs.500/-+ST Rs.( 1 Lac to 1 Crore) & Rs.750/-+ST (Above 1 Crore)— Financial Reason (both for drawer & payee). If Cheque returned for Technical Reasons for no fault of Customer no charges deducted.

Copy of Original of Cheque / DD (Paid by the Bank)

Rs.100/-+ST upto 6 months old record, beyond 6 months- Rs. 250/-+ST.

Rules for Transfer/ Inter-sol Transfer/Clearing  Transactions and Charges

Transfer Transaction at base branch

Allowed freely without any limit 

Transfer Transaction at Non-base branch (local as well as outstation)

Normally allowed only at a branch where either drawer or payee maintains account. However, for genuine transactions, Branch Head is authorized to allow transactions at non-base branch (where neither drawer nor payee maintains account) on case to case basis subject to certain conditions.

There are no charges for Inter-sol transfer transactions.

Clearing Transactions

There is no restriction for clearing transactions.

  • *All Charges are exclusive of Service Tax.
  • *All charges are subject to changes from time to time.

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