Bank of Baroda provides High-interest facility in Super Savings account. In this account Fund from savings account transfers to the short deposit exceeding Rs. 50,000/- with the minimum of Rs. 10,000/-
If there is Rs. 70,000/- in your account, the excess amount Rs. 20,000/- above Rs. 50,000/- will be transferred to short deposit for 181 days.
It also auto transfers to Super Savings account from the short deposit, in the case funds is required in the super saving bank account in multiple of Rs. 1,000/-. It brings higher interest with high liquidity.
In this account required Quarterly Average Balance (QAB) is Rs.20000/- to be maintained.
First Sweep out for Rs 10,000 will happen only when the account balance reaches Rs 60,000.
Upon Account holder’s request, the threshold amount Rs 50,000/- can be increased in multiples of Rs 1,000 (Like Rs 51,000, Rs 52,000, and so on).
Also, the Sweep out amount of Rs 10,000/- can be increased in multiples of Rs 10,000 (Like Rs 20,000, Rs 30,000 and so on).
The sweep will be carried out at the end of every Monday.
- Free Debit Card
- Immediate credit of outstation cheques up to Rs.25, 000/-
- Quarterly Interest payment
- 25% discount on minimum annual custody/maintenance charges for the Demat account.
- Free standing instructions
- Free unlimited cheque book facility
- Safe Deposit Lockers on priority basis, subject to availability
- Free ANY BRANCH BANKING.
- No charges for issuance of Demand Drafts (drawn on Indian branches) / Banker’s Cheques
- Free collection of outstation cheques
- Free transfer of account to any of the Bank’s branches
Charges and Penalties
- Rs. 1000/- per quarter for non-maintaining QAB (Plus Service Tax)
- Rs. 500/- Service charge in the case of Closure of an a/c before 12 months
Documents required to open Super Saving Account
- Photograph (Passport size)
- Proof of residence
- An introduction as per Bank’s norms