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Bank Of Baroda(BOB)- Process,Eligibility, Benefits etc.

Updated on: 10 Aug, 2023 01:11 PM

How to open a bank account with BOB?

Bank of Baroda fulfills all your financial needs with its different type of financial and banking services. Open a new bank account in the Bank of Baroda and enjoy the hassle-free net banking services and much more with Bank of Baroda savings account.

You can open an account in Bank of Baroda in two ways

  • Offline
  • Online

Eligibility for opening the account

  • He/she should be a citizen of India.
  • The customer should be 18 years and above.
  • In the case of minors, the parents or legal guardian of the minor can open the account on their behalf.
  • The applicant must have valid identity and government approved address proof.

How To Open An Account Through Offline Process?

Step by step procedure to open an account-

  1. Visit the nearest branch of Bank of Baroda. Go to customer relation desk in the bank, the employee will assist you in opening the account. He will give you the form for opening the account.
  2. Read the form carefully and fill it. If you're an individual applying for the account then the following documents you must carry are
    • Proof of identity Aadhaar card, Passport, Driving license, Voter's ID etc.
    • Proof of Address Aadhaar card, Passport, Driving license, Voter's ID etc.
    • 2 latest passport size photographs
    • PAN card
    • Form 16 (Only when the PAN is not applicable)
    Note- fill all the fields where it is required in order to avoid rejection of the application. In case of facing any issue while filling the form, he/she can contact the executive of the bank for assistance.
  3. Once the form is filled and you are ready with the above-mentioned documents, the bank executive will verify the documents and ensure the name, address, date of birth, signature and so on.
  4. When the verification is completed, the applicant will have to make an initial deposit, depending on the minimum balance.
  5. Once the deposit has been made, the executive of the bank will hand you a bank account passbook along with a debit card if you filled the option in the form with regard to the savings account.

How to open an account Online?

Step by step procedure to open the BOB account is as follows-

  1. Visit Bank of Baroda homepage. Click on accounts, you will see the two options-
    • Current account
    • Savings account
  2. Click on the savings account if you want a deposit account.
    It will direct you to the different types of savings accounts and the services they provide.
    Type of Savings Account Benefits, offers and Features
    Baroda Mahila Shakti Savings Account (Womens Special)
    It offers 25% waiver on locker rentals.Discount of 0.25% on rate of interest on Two wheeler loansDiscount on products i.e. processing charges for Auto, Mortgage and Personal Loans.Complementary zero balance account for the children and many more offers.
    Baroda Sr.Citizen Privilege Savings Account It offers 25% waiver on locker rentals.50% waiver of processing fees on mortgage loans.Can be used as pension account.Free BOB Prime Credit Card with 1% cashback on all spends and many other benefits.
    Super Savings Account Free Debit Card Free Unlimited Cheque book facility.Quarterly payment of interest.Provision for nomination and other benefits.
    Baroda Shubh Savings Account This account is a value proposition to customers.Unlimited free cheque book facility for the customers.Immediate Credit of Outstation Cheques upto Rs.25,000.Waiver of processing charges on loans.
    Baroda Salary Classic Net monthly salary less than Rs.50,000, suitable for entry level employees.25% waiver on loan processing charges.Accidental death Insurance cover and credit card.Complimentary zero balance account for spouse, if married.
    Baroda Salary Super Best suitable for middle level management employees whose salary is between Rs.50,000 to Rs.1,00,000.Overdraft facility available for the customer upto Rs.1 lakh amount.50% waiver on loan processing charges.Accidental Death insurance cover.Sweep facility available.Complementary zero balance account for spouse if married.
    Baroda Salary Premium Best suitable for higher level management employees whose salary is between Rs.1,00,000 to Rs.2,00,000.Overdraft facility available for the customer upto Rs.2 lakh amount.75% waiver on loan processing charges.Accidental Death insurance cover.Sweep facility available.Complementary zero balance account for spouse if married.Discount on locker rentals.
    Baroda Basic Savings Account The account can be opened with Zero balance.Debit card and internet facility.50 cheque leaves free in a year.
    Baroda Champ Account Best suitable account for school and college students.Required Quarterly balance of Rs.1000.No charges on school or college fee payments.Net banking facility for account holder above 15 years age old.
    Baroda Pensioners Savings Account Opening of account by Rs5/-Unlimited cheque book facility provided except to the illiterate pensionerImmediate credit of outstation cheques up to Rs.25,000 and more benefits.
    Baroda Jeevan Suraksha Savings Bank Account Opening of the account by minimum Rs.1000, and a minimum balance of Rs.1000 only.The account holder can avail insurance cover up to Rs.5 Lac.The existing account can be converted into this account under same account number.20 cheque leaves provided every 6 months free of cost.
  3. If you are selecting the Baroda basic savings account, the account can be opened a zero-initial deposit or zero balance with a debit card facility.
  4. Click on the download form, download it and fill the form with the required details.
  5. Click on the call us or contact us
  6. Dial the number and it will be directed to the nearest branch of the bank and the bank executive will come to your house for the verification and form.
  7. Once your process is completed, you will receive a passbook and debit card through post or you can collect it from the bank.

Benefits of a savings account

  • It provides an interest rate of 3.50% per annum on up to 50 lakh deposit.
  • Interest rate of 4.00% per annum above the 50-lakh deposit.

How to generate BOB Bank ATM PIN Online?

Now you can generate BOB bank ATM PIN very easily, you can use the wide network of BOB bank services or can visit the nearest BOB ATM centre to generate the ATM PIN. The which you are generating will act as send authentication in the bank transactions.

If you have forgotten the ATM PIN don't worry. Here are the simple steps to regenerate the ATM PIN.

  1. Visit the nearest BOB ATM center or BOB e-lobby, insert the ATM card.
  2. Please select the language in the displayed languages.
  3. Please select the option from Set/ Re-generate PIN
  4. Please enter the 14-digit bank account number and select the CORRECT option.
  5. Re-enter the 14-digit bank account number and select the CORRECT option.
  6. Enter the registered mobile number with the bank account.
  7. An OTP will be sent to your registered mobile, enter the 4-digit OTP and select Press if Correct.
  8. Now the mobile number and OTP validation is completed. Then select the Press to set the new pin
  9. Now Please enter the new pin and press enter.
  10. Re-enter the new pin and press enter. Now you have successfully generated the ATM PIN.

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CA Abhishek Soni
CA Abhishek Soni

Abhishek Soni is a Chartered Accountant by profession & entrepreneur by passion. He is the co-founder & CEO of Tax2win is amongst the top 25 emerging startups of Asia and authorized ERI by the Income Tax Department. In the past, he worked in EY and comes with wide industry experience from telecom, retail to manufacturing to entertainment where he has handled various national and international assignments.