Bank of Baroda (BoB) has unveiled an exciting financial offering just in time for the festive season, the “BoB Lite Savings Account.”
This innovative account caters to customers of all ages and backgrounds, delivering a seamless banking experience without the need for a minimum balance, according to a statement by the bank.
BoB Lite Savings Account Features:
Zero Balance Account: The BoB Lite Savings Account does not require customers to maintain a minimum balance.
Transactions are permitted, but commercial transactions are not allowed. The bank may close the account with prior notice if non-permitted transactions are identified.
Eligibility: Individuals above 10 years of age, including salaried individuals, businessmen, self-employed professionals, business executives, housewives, and minors aged 10 and above, are eligible to open this account.
Free Platinum Debit Card: As part of the festive season campaign, customers can obtain a lifetime free RuPay Platinum Debit Card by maintaining a nominal Quarterly Average Balance (QAB). The QAB requirements are as follows:
- Rs. 3,000 for Metro/Urban
- Rs. 2,000 for Semi-Urban
- Rs. 1,000 for rural
Failure to maintain the required balance will result in an annual penalty. Customers will also receive 30 free check leaves per financial year.
Convenient Transactions:
Cash Deposit: Customers with a registered PAN in their account can deposit up to Rs. 2,00,000 per day.
For accounts without a registered PAN, cash deposits are allowed up to Rs. 49,999. Cardless transactions of up to Rs. 20,000 per day are permitted by entering the account number.
Additionally, the bank ensures the confiscation of fake and suspicious notes, providing a receipt to the customer.
The BoB Lite Savings Account is set to make banking accessible and hassle-free for a wide range of customers, allowing them to enjoy the festive season with confidence and convenience.
