Common Areas of Customer -
Banker Relationship

Savings Bank Account

A foundation stone of banking relationship

These accounts are designed to help the individual and group of individuals to inculcate habit of saving money and to meet their future requirement of money.

Who can open the account - These accounts can be opened by eligible person/s and certain organization / agencies as approved by the Reserve Bank of India (RBI) from time to time.

Documents required - As per KYC norms the following documents duly verified from original are required.

1. Two passport size photographs
   
   
2. Proof of residence i.e. Pass port/driving license/Gas / Telephone / Electricity Bill/ Ration card/voters identity
   
   
3. An introduction
   
   
4. PAN or GIR Number / Declaration in form no 60 or 61 as per the Income Tax Act 1961
   
   

In case personal introduction is not possible, introduction by way of approved documents such as

• PAN Card
  
  
• Valid Passport
  
  
• Driving License
  
  
• Election I-card
  
  
• Defence I-card
  
  
• Senior Citizen card
  
  

Minimum balance required for opening account (with or without cheque book) -

No.	Area	Minimum Amount (in Rs)
1.	Rural / Semi-Urban	250/-
2.	Urban	500/-
3.	Metro	1000/-

Zero balance facility is provided for salaried employees in Central / State Govt, Public and Private Ltd companies, Agents of LIC/ GIC and students wherein SB a/c remains alive even when the balance is zero.

Terms and conditions -

1. Non-compliance to maintain minimum balance would attract service charges.
   
   
2. Presently interest at 3.5% p.a. is paid by the Bank on half-yearly basis on minimum credit balance between the 10th day and last day of the months provided it works out to minimum Rs.1/- and rounded off to nearest Rupee(s).
   
   
3. A savings bank customer is given 40 leaves of cheque book free of cost in a financial year on pro rata basis Additional cheque book can be obtained after payment of nominal charges.
   
   
4. Cheques, dividend warrants drawn only in the name of account holder/s will be collected through this account. Cheques / Instruments endorsed in favour of the account holder/s will not be collected through savings bank account.
   
   
5. For deposit and withdrawals of Rs.50,000/- and above in cash, providing of PAN is mandatory as per Income Tax rules.
   
   
6. If the account is not operated by the account holder for four consecutive half years it is termed as in-operative account and shall be liable for levying nominal service charges where stipulated minimum balance is not maintained. Accounts which are not operated for a considerable period of time will be transferred to a separate dormant / inoperative account status in the interest of the depositor as well as the Bank. The depositor can request the Bank to activate the account for operating it subject to fulfilling certain conditions.
   
   

In addition to the normal SB scheme the Bank has introduced the following schemes (Details of these schemes can be found on Bank’s website www.bankofbaroda.com)

• Shubh Savings Scheme (Rural and Semi Urban)
  
  
• Super Savings Scheme (Urban & Metro)
  
  
• No Frill Account in the name of Nagrik Bachat Khata
  
  

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> Common Practices followed by our Branches
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> Common areas of Customer – Banker relationship
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> Extended Banking Hours
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> Redressal of Complaints
> Other customer centric initiatives