Bank of Baroda opens many special accounts for its customers. There is also a Pension Account from this. Let’s know about it …
Bank of Baroda, the country’s largest government bank, is opening a special pension account. According to the information given on the website, this account can be opened for only 5 rupees. With this, debit card is given for free. Also, everyone gets unlimited check book facility free of cost. Let’s know about it…
Baroda Pension Account Baroda Pensioners Savings Bank Account
According to the information given on the website of Bank of Baroda, a pension account can be opened for just 5 rupees.
Overdraft facility will be given in savings bank account equal to 2 months pension amount. Provided that no other loan facility is availed by the pensioner.
Who can get the benefits of this scheme
Along with the staff of Bank of Baroda, common pensioners can also take advantage of this scheme.
Free Debit Card, Baroda Connect / Internet Banking and “BOBCARDS SILVER” for 1 year (to be offered by BOBCARDS LE under the Credit Card Scheme).
Insurance will be provided for free
Accident insurance cover of up to Rs 1 lakh will be given free of cost to the customers. Free unlimited check book facility except illiterate pensioners.
Bank Of Baroda Pensioners Savings Bank Account
Cash withdrawal rules
There will be no charge for withdrawing money from Aadhaar / local non-base branch and external branches. But in external branches, the account holder is allowed to withdraw cash up to a maximum of Rs 50000 per day.
Important things
If a customer does not make any transaction in a savings account for two years, the account becomes inoperative. Interest will be applied continuously in all such savings accounts. No charges will be levied for account inactivity.
To activate / close inactive / inoperative accounts, KYC documents – photo, new sample signature will have to be submitted to the satisfaction of the bank.
If the account remains inactive for 10 years, the amount deposited in the account will be treated as unclaimed deposits and will be transferred to the Reserve Bank of India. On receipt of the application in respect of such deposits, customers will be returned subject to their deposit conditions.
There is no minimum deposit tension. Funds can be freely transacted through demand drafts / bankers checks up to a maximum limit of 1 lakh per month. Also, the nomination facility is available for free.
