Baroda Advantage Current Account

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Baroda Advantage Current Account

Features Existing Baroda Advantage Current A/c Baroda Advantage Current A/c Revised w.e.f.01.11.2015
Minimum Quarterly Average Balance (w.e.f 19.11.2016 )
  • Current Accounts
  • Individual / Non Individual
  • Rural / Semi-Urban - Rs 2,000/-*
  • Urban -Metro - Rs 15,000/- *
  • Current Accounts
  • Individual / Non Individual
  • Rural / Semi-Urban - Rs 2,000/-*
  • Urban -Metro - Rs 10,000/- *
* Quarterly Average Balance
Statement of account once free (monthly) once free (monthly)
Balance Certificate free once in a year  
signature Verification free once in 3 months  
Folio charges Nil for accounts with average credit bal.of more than Rs 50000/- Minimum Rs 75/- .- Current Accounts
Nil for accounts with average credit bal.of more than Rs 100000/-
For a/cs maintained on computers, 25 entries or part thereof to be treated as one ledger page.
Issuance of cheque books first time free cheque book of 50 leaves first time free cheque book of 50 leaves
Transfer of funds amongst CBS Branches Transfer of funds outside the clearing area through cheques Free of charge transfer of funds through cheque irrespective of any amount . Free of charge
  • Transfer of funds outside the clearing area through cheques drawn on any of our CBS branches
  • Funds transfer amongest CBS branches through collection of outstation cheques drawn on our CBS branches.

Up to Rs 1 lac : Free per day

Above Rs1 lac to Rs 5 lacs : Rs 25/- per txn plus Taxes

Above Rs5 lacs : Rs 50/- Per txn plus Taxes

( To continue to recover from drawer of the cheque)

Free of charge
Funds transfer through payment of cheques drawn on our outstation CBS branches received through clearing Nil Nil
Collection of outstation cheques through the base branch Normal collection charges Normal collection charges
Collection of local cheques through clearing by local Non base branches Free of charges Free of charges
Collection of cheque through outstation non base branches drawn on other banks with in the clearing area of that centre Up to Rs 1 lac - Free per day
Above Rs1 lac to Rs 5 lacs - Rs 25/- per txn plus Taxes
Above Rs5 lacs - Rs 50/- Per txn plus Taxes
(To continue to recover from drawer of the cheque)
Free of charges
Collection of cheque through outstation non base branches drawn on other banks with in the clearing area of that centre Free of charge up to Rs 25000/-per day per account, thereafter in excess of Rs 25000/@Rs 1.00 per thousand or part thereof Minimum Rs 25/-and maximum 2500/-For the current account holders maintainingQAB( quarterly average balance) of Rs 75000/-for the last two completed quarters * Free of charge- Any Amount *For this purpose QAB for last two completed quarters will be considered and will be reviewed every quarter. Incase the customer has not maintained QAB for the last two quarters the facility will be withdrawn Free of charge
Note:

For the current account holders maintaining QAB(quarterly average balance) of Rs 75000/-for the last two completed quarters*

Free of charge -- Any Amount

*For this purpose QAB for last two completed quarters will be considered and will be reviewed every quarter. In case, the customer has not maintained QAB for last two quarters, the facility will be withdrawn.

Cash Deposit

Features Existing Baroda Advantage Current A/c Baroda Advantage Current A/c Revised w.e.f.01.11.2015
Local base 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/- , Maxi. Rs.10000/- plus Taxes at applicable rate.
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/- , Maxi. Rs.10000/- plus Taxes at applicable rate.
Outstation Non-base branch Cash deposit of Rs 25000/-per day per account free of charges, there after in excess of Rs 25000/- Cash handling charges will be @Rs 2/-per thousand plus Taxes or part thereof 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 Taxes 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

Cash Withdrawal

Features Existing Baroda Advantage Current A/c Baroda Advantage Current A/c Revised w.e.f.01.11.2015
Local base branch Local Non-Base / Outstation Non- base branch
  • Any amount – Free of charge
Free Cash with drawal up to Rs25000/ - per day per account is free of charges thereafter service charge is levied @ Rs2/ per thousand plus Taxes or part there of.
  • Free of charge maximum withdrawal is allowed upto Rs.50000/-and to self only.
  • no Cash payment to third parties.
Net Banking Free Free
Auto Pay roll Free Free
Note :
  • No cash payments to third parties
  • Per transaction limit of Rs.50,000/- to customers through self cheques.
Minimum Quarterly Average Balance (QAB) (w.e.f 19.11.2016 ) Rural : Rs 2000/-
Semi-Urban : Rs 2000/-
Urban/Metro : Rs 10000/- for individual as well as for non individual accounts
Minimum Balance Charges Rural-Semi-Urban :
Rs.350/- per quarter+ Taxes if QAB of Rs.2000/-- is not maintained.
Urban-MetroRs 625/- per quarter + Taxes for not maintaining quarterly average balance , if QAB of Rs.10000/- is not maintained.
Premature Closure Charges (If account is closed within a year) Individual : Rs 250/- + Taxes
Others : Rs 500/- + Taxes

Transactions

All genuine purpose oriented transactions are allowed. There is no restriction on number of transactions in the current account subject to ledger folio charges @ Rs.75/ plus service tax for every 25 entries and part thereof on quarterly basis.

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) for Rural and Semi Urban Branches is Rs.2000/- and Urban and Metro Branches is Rs.10000/-. Non-maintenance of Minimum QAB in Rural & Semi-urban Branch will attract Rs.350/-+Ser Tax and in Urban & Metro Branches Rs.625/-+Ser Tax as service charge.

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.

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.

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. 10) Debit Card: Free Debit Card will be issued to only Individuals and Proprietors for first year and thereafter charges @ Rs. 100/-+ST p.a. will be levied.

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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