Bank of Baroda Account Online | Bank of Baroda Account Opening Form | BOB Minimum Balance | Bank of Baroda Account Statement
Bank of Baroda features a variety of savings accounts to meet the needs of different people, including the Super Savings Account, Regular Savings Account, Basic Savings Account, Salary Advantage Savings Account, Pensioners Savings Account, and so on. Customers can conduct financial transactions with ease using these savings accounts. Those who want to create a savings account with the Bank of Baroda must first submit their KYC documents for Bank of Baroda Account Opening
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KYC Norms for Bank of Baroda Account Opening
The Reserve Bank of India established the KYC rules in order to protect the account details of bank account holders from any fraudulent activity. It also aids the bank in monitoring high-value transactions and preventing financial fraud, money laundering, and other crimes.
Applicability of KYC Norms in Specific Situations
In the following situations, the bank will seek the customer’s KYC documents:
- If the customer wants to open a savings account with the bank.
- If the account has been open for a long time, the customer will be required to submit a new set of KYC documents.
- If the customer chooses to open a bank-provided locker.
- If the customer’s name, signature, or address has changed, etc.
- If the bank asks for more information on the customer.
- For bank deposits of high value.
Bank of Baroda Recurring Deposit Interest Rate
Eligibility Criteria for Bank of Baroda Account Opening
- Customers must meet certain qualifying criteria in order to open a savings account:
- Should be an Indian citizen.
- The customer must be at least 18 years old.
- In the event of children, the account can be opened on their behalf by their parents or legal guardians.
- The applicant must present government-issued identity and proof of address.
Documents Required for Bank of Baroda Account Opening
Customers must submit the following papers together with the account opening form in order to be eligible for a Bank of Baroda Savings Account.
- Proof of identity – Passport, Driving license, Voter’s ID card, etc.
- Proof of address – Passport, Driving license, Voter’s ID card, etc.
- PAN card
- Form 16 (only if PAN card is not available)
- 2 latest passport size photographs
Bank of Baroda Fixed Deposit Interest Rate
Bank of Baroda Account Opening Process
- When a person wishes to open a savings account with Bank of Baroda, the first thing that he or she must do is submit the following documents:
- Proof of identity – Passport, Driving license, Voter’s ID card, etc.
- Proof of address – Passport, Driving license, Voter’s ID card, etc.
- PAN card
- Form 16 (only if PAN card is not available)
- 2 latest passport size photographs
- After that, the candidate must complete the application form. Note that all fields must be filled in to avoid the application being rejected. If one has trouble filling out the form, he or she can get assistance from any Bank of Baroda officer. The account opening form can be downloaded from the bank’s homepage.
- Once the above-mentioned documents are ready and the form is filled out, the individual must submit the form together with the KYC documents to their preferred Bank of Baroda branch.
- The bank executive will now double-check the documents to ensure that the name, date of birth, address, signature, and other information on the KYC documents and the information on the application form are same.
- After the verification process is completed, the account holder must make an initial deposit, which will be determined by the savings account’s minimum balance requirement. The customer can make the first deposit at the bank’s cash deposit counter. Zero-balance savings accounts will not require a deposit.
- After the deposit is done, the executive will provide you a debit card as well as the necessary bank documentation for the savings account.
Open Post Office Savings Account
Things to Keep in Mind While Bank of Baroda Account Opening
- Check the interest rate on deposits for that particular savings account (Check Banks with Highest Interest Rates in India). The interest rate determines your return on deposits, therefore knowing it before selecting a savings account is necessary.
- It is vital to check the savings account’s minimum balance criteria and determine if it is appropriate for their financial situation.
- It’s a good idea to look into the penalties for not keeping a minimum balance.
- Customers should double-check their account’s daily transaction and withdrawal limits.
- The applicant should examine if there are any additional fees for cash withdrawals made using checks, as well as the monthly withdrawal limit at ATMs other than Bank of Baroda.
- If a transaction has occurred without your knowledge, you should call your bank right away.
- After you’ve opened the account, make sure your account password and PIN are never shared via email, SMS, or social media.
- Check your bank statements on a regular basis to see if there has been any fraudulent activity and to maintain track of your finances – both in and out of your account.
- If your debit card is lost or stolen, you should either block it immediately through your BOB online banking account or contact Bank of Baroda customer service for assistance.
- On online merchant websites, don’t save your bank account information.
- Make sure you close the page as soon as you’ve made an online purchase and that you only shop on secure websites.
Customer Service Number of Bank of Baroda
Customers who require assistance, have questions, issues, or complaints about their savings accounts should call the Bank of Baroda customer service number at 1800 22 33 44 / 1800 102 4455.