Baroda Centenary Savings Account

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Baroda Centenary Savings Account

Baroda Centenary Savings Account a Superior Savings Bank a/c with added value propositions. This product is available at all CBS branches in India.

  • Auto sweep: Auto transfer of funds exceeding certain fixed amount to Term Deposit to provide high yield on such funds.
  • Auto reverse sweep in case of need to honour Cheque to Savings account from Term Deposit.
  • Free collection of outstation cheques drawn in favour of account holder (postage out of pocket expenses are recoverable).
  • IMMEDIATE CREDIT of outstation cheques upto Rs.25,000/-, as per norms.
  • FREE DEBIT CARD.
  • Interest is paid on Quarterly basis.

Transactions of saving oriented nature are permitted. Commercial transactions are non allowable transactions. if non allowable transactions are noticed then Bank may close the account with prior notice/intimation citing reasons thereof. In case of single account of minor to be operated by him/her the maximum balance outstanding on any day should not be more than Rs. 100000/- when the minor is aged between 10-14 years

Cash Deposit

At Base / Local non-base Branch

Amount - Free of charge.

At Out-station Branches

Up to Rs. 30000/- per day per account -  free of charge, thereafter chargeable @ Rs. 2.50 plus service tax per thousand or part thereof.

At Cash Machines

  • Cash deposit with debit card up to Rs.2,00,000/- (2 Lacs) per day where PAN is registered and Rs.49,999/- where PAN is not registered in account.
  • Card less transaction (by feeding account number) up to Rs. 20,000/- per day.
  • Fake note, Suspicious Note is impounded and receipt is given to the customer. Torne/Mutilated/Taped notes are not accepted by these machines.

Cash Withdrawal

  • At base/local non base and outstation branches – Free of charge.
  • Maximum Rs. 50000/- per day withdrawal allowed to A/c holder only at outstation branches.
  • Third party cash payment at Non Base and outstation branches is totally restricted.

Interest Calculation and Frequency

Interest is calculated on daily product basis and credited to accounts quarterly. For this purpose Bank’s quarters are April-June, July to September, October to December and January to March. Interest is credited to the account within 15 days of end of quarter. However, Value date effect as of 1st day of the month is given while crediting interest.

Withdrawal(s)  & use of Withdrawal Form (Slip)

Withdrawals will be allowed either by withdrawal forms or by cheques. Payment against withdrawal form along with passbook is allowed only for self only with per day limit of Rs. 25000/- ( Minimum Rs. 25/- in Rural/SU and Rs. 50/- in Metro/Urban)

Passbook and Statement of Account

  • Free Pass Book
  • Rs. 100/-- per duplicate Pass Book / Statement with latest balance only. Charges for previous entries (if required) Rs. 75/- per ledger page (25 entries per page) or part thereof.

Transaction Charges

Not more than 50 debits( except system generated & ADC transactions) is allowed per half year beyond which service charge @ Rs 15/+ S.tax per debit will be charged.

Cheque Book

Unlimited Free Chequebook

Registration and Execution of Standing Instructions

  • No charge within the Bank.
  • Rs. 100/- per occasion will be levied for Standing instruction failure due to insufficient funds.

Transfer of Account

Upon submission of application along with pass book and unused cheque leaves the account can be transferred to another branch/scheme free of charge.

Closure of Account and Charges

  • All The authorized signatories of the account will give in writing with his/her/their intention to close the account. The relative passbook, Debit Card and the unused leaves should be surrendered along with the letter requesting closure.
  • In case of pre-mature closure of the account no charges will be levied if the account is closed within 14 days of first customer induced credit into the account . However, charges @ Rs.300/- plus service tax is levied if account is closed beyond 14 days but within 1 year of the first customer induced transaction. However. In case of death of account holder no charges will be levied.

Dormant/Inoperative Account

Account becomes inoperative/dormant if there are no customer induced transactions in Savings accounts  for over a period of two years. Interest is continued to be applied in all such Savings Bank accounts. No charges are levied for in operation of accounts.

Activation/Closure of Dormant/Inoperative accounts will be done after submission of necessary KYC documents, photo, fresh specimen signature,subject to satisfaction of the Bank.

All Accounts which have remained inoperative/dormant for a period of 10 years and above will be treated as unclaimed deposits and will be transferred to RBI. Upon receipt of the request from the customer such deposits will be returned subject to conditions.

Disclosure of Information

The Bank may disclose information about customer’s account, if required and 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).

SMS Alerts and Charges

Charges @ Rs. 15/-per quarter are levied.

All relevant policies including Code of commitments to customers and Grievance Redressal policy are available at the branches.

MITCs OF ATM/DEBIT Card, Mobile Banking, Net Banking in Application Form

Available separately.

The Bank will notify, 30 days in advance, any change in terms and conditions/ Fees and charges on its website.

All deposits to the extent of Rs.1/- lac per depositor of our bank (except Deposits of Central/State/Foreign Governments and commercial banks) are covered under Deposit Insurance & Credit Guarantee Corporation (DICGC).

Minimum Balance Requirement

Opening of account with Rs.10000/- QAB - Rs. 10000/- to be maintained.

Charges for non maintenance of minimum balance

Rs.100/- per quarter will be levied for non maintenance of Minimum balance.

Computation : Minimum QAB requirement is calculated on the basis of summation of closing balance of number of days divided by number of days. For purpose of arriving at Quarterly Average Balance/Minimum Balance charges, the period of quarters are considered as 16th Mar to 15th Jun, 16th Jun to 15th sep, 16th sep to 15th Dec and 16th Dec to 15th Mar of a particular year.

Nomination facility available.

Debit Card and Charges

Free Debit card for first year then charges @ Rs. 100 per annum will be levied.

ATM Transactions at other bank ATM (India) – free upto 3 transactions in a month (both Financial and Non Financial) at 6 centres viz, Mumbai, Delhi, Kolkata, Chennai, Bengaluru, Hyderabad and thereafter Rs. 20/- for every transactions will be charged. For any other centre (except these 6 centres) upto 5 transactions (both Financial and Non Financial) are free in a month thereafter Rs. 20/- for every transaction will be charged.

Card Replacement charges (in India) - Rs. 200/- per replacement.

Pin Generation - Rs. 150/- per regeneration.

Sweep Facility

The auto sweep will trigger in excess of Rs. 10000/- for transfer of the amount in term deposit

Auto Sweep Amount

Default setting: The amount in excess of threshold limit in multiple of Rs. 5,000/-.The customer, looking to his needs, will have liberty to fix higher amount than Rs. 5,000/-, in multiple of Rs. 1,000/- for triggering auto sweep.

Reverse Sweep Amount

Default setting: In case of need, reverse sweep will be permitted in multiple of Rs. 5000/-. For reverse sweep, the LIFO system will be followed

  • Tenure of the term deposit: Tenure of the term deposit will be 180 days.
  • In case customer is in need of funds, the amount lying in FFD will be available to the customer through reverse sweep facility. However, for premature withdrawals of all deposits, interest will be paid one per cent less than the rate which is applicable at the time of placing the deposit, for the period for which the deposit has actually run.

Immediate Credit of outstation cheques upto Rs. 25000/- as per Bank norms.

Free collection of outstation cheques drawn in favour of account holder, however, postage / out of pocket expenses will be recovered.

Cheque Return (per instrument charges)

Inward Return

  • Upto Rs.1 Lac – Rs. 125/-
  • Above Rs. 1 Lac to less than Rs. 1 Crore : - Rs. 250/-
  • Above Rs. 1 Crore – Rs. 500/-

Outward Return

  • Upto Rs.1 Lac – Rs. 250/-
  • Above Rs. 1 Lac to less than Rs. 1 Crore : - Rs. 500/-
  • Above Rs. 1 Crore – Rs. 750/-

In case bank remains out of funds : Actual interest @ 7.5 % over Base rate is to be charges extra.

Cheque returned due to technical reason – not at the fault of customer – No Charges.

Charges for Copy of original of cheque (paid by the Bank) – a) Rs.100 upto 6 months old record b) Rest - Rs. 250/-

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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