Bank of Baroda Senior Citizen Privilege Saving Account: Bank of Baroda Senior Citizen Privilege opens savings account. Along with this, many free services are available.
Bank of Baroda, the country’s third largest state-run bank, runs a number of special schemes for senior citizens. Also, the bank also opens a special account. It is opened to people 60 years of age or older. The bank offers many facilities on this account for free. Let’s know everything about it…
According to the information given on the website of Bank of Baroda, pensioners can also open this account to avail the pension facility.
There is a 25 percent discount on annual locker rent. There is also a 50% discount on the reverse mortgage loan processing fee. Up to 1 lakh cash can be withdrawn from ATMs and shopping up to 2 lakh rupees can be done on POS.
Feature of Bank of Baroda Senior Citizen Privilege Saving Account
The bank is providing free Visa Platinum Debit Card for 1 year. Free unlimited transactions can be done at Bank of Baroda ATM.
3 transactions per month (including financial and non-financial transactions) will be free from Bank of Baroda in addition to the prescribed free transactions at ATMs of other banks.
Sweep facility for 181 days in multiples of Rs. 10,000 on deposits of more than Rs. 50,000 on request of customers, reverse sweep Rs. 1000 / – will be in multiples of Rs.
There will be a 25% discount on travel / gift card issuance charges. There will be a discount on the annual maintenance charges (AMC) of the demat account in the first year.
Free Bob Prime credit card is available with a loan limit of up to 80 percent on fixed deposits kept in the bank and a cashback of 1 percent of the amount spent.
Bank deposit
At Aadhaar / Local Non Aadhaar Branch – Any amount can be deposited without any fee. In External Branches: Up to Rs 30,000 / – per account per day without charge.
After this, ₹ 2,00,000 / – (2 lakhs) per day with debit card in the accounts where PAN is registered with the cash machine with service tax of Rs. 2.50 / – + per thousand or part thereof. Up to Rs 49,999 / – can be deposited if PAN is not registered.
Interest is calculated on daily basis and it is credited to the account. The bank’s quarter for this purpose is May-July, August-October, November-January and February-April. Interest is credited to the account within 15 days of the end of the quarter. However, at the time of depositing the interest, the value of the first date of the month is shown.
