Bank of Baroda current accounts are designed for businesses, startups, and professionals who need smooth, high-volume banking. With options ranging from zero-balance accounts for new ventures to premium accounts with advanced features, BOB caters to every stage of business growth. 

A Bank of Baroda current account gives you unlimited transactions, access to digital banking, overdraft facilities, and account types designed for businesses of all sizes—from Lite accounts for startups to Supreme and Rhodium accounts for large enterprises. 

What is BOB Current Account?

A Bank of Baroda current account is designed for businesses, traders, and professionals who must make frequent transactions. Unlike savings accounts, it offers unlimited transactions, higher withdrawal limits, and additional features like overdraft facilities and online banking services. 

For instance, the Baroda Advantage Current Account provides benefits such as low minimum quarterly average balance requirements, free net banking, and the Baroda Cash Management System for streamlined bulk payments. These features make it ideal for managing day-to-day business finances efficiently.

How to Open a Current Account in BOB?

There are two modes to open a Bank of Baroda current account:

Online

Here are steps you can follow to open a current account in the Bank of Baroda online:

• Open the Bank of Baroda website and click the ‘Current Account’ option from the ‘Accounts’ section.
• Select the current account type you want to open according to your preference.
• Choose the constitution type and fill out the application form.
• Attach your documents along with the form.
• After you submit the form, bank officials will contact you to complete the Bank of Baroda’s current account opening procedure.

Offline

Here is a step-by-step guide you can follow to open a current account in the Bank of Baroda through offline mode:

• Open the official website of the Bank of Baroda.
• Visit the ‘Download Forms’ section in the footer section.
• Click on the ‘Deposit Products’ section on the new webpage.
• Select ‘Current Account’ from the drop-down menu and download the PDF of the account opening form.
• Print out the Bank of Baroda account opening form.
• Fill out the current account opening form with all your details.
• Submit the form and the required KYC-acceptable documents at the nearest bank branch. 

BOB Current Account Types

The following are the different types of Bank of Baroda current accounts:

BOB Current Account Opening Eligibility

Here is a list of eligible entities for the current account of Bank of Baroda:

• All Individuals, including Minors aged 14 years and above
• Businessmen and professionals
• Registered & Unregistered Trust
• Private/Public Ltd Cos
• Hindu Undivided Family (HUF)
• Registered & unregistered Societies
• Government Departments
• Clubs & Association
• Proprietorship/Partnership firms
• Panchayat Samities
• Banks and Financial Institutions
• Charitable & Public Trusts

BOB Current Account Opening Documents

You must submit the following documents to open a BOB current account:

• PAN Card
• Certificate of Incorporation, MOA & AOA (in case of Companies)
• Partnership Deed (in case of Partnership Firm)
• Address Proof of the Firm/Company/HUF
• ID Proof and Address Proof of all directors/partners
• Certificate by Sales Tax or Service Tax authorities (in case of Proprietorship Firm)
• Photograph
• A cheque for opening a bank account

BOB Current Account Minimum Balance

The BOB current account minimum balance differs from one account type to another. The minimum quarterly balance of different BOB current accounts is as follows:

BOB Current Account Benefits

The following are the key benefits of the Bank of Baroda's current account:

Unlimited Transactions

• Enjoy the freedom of conducting unlimited deposits and withdrawals, ideally suited for businesses with high transaction volumes, ensuring seamless day-to-day operations without restrictions.

Overdraft Facility

• Gain access to a convenient overdraft facility, providing short-term credit to address immediate business needs, manage cash flow effectively, and capitalise on time-sensitive opportunities.

Digital Banking

• Leverage secure and user-friendly net and mobile banking services, enabling efficient account management, real-time monitoring, and convenient transactions from anywhere, enhancing your business’s agility.

Corporate Debit Card

• Benefit from a corporate debit card offering higher withdrawal and transaction limits, streamlining business expenses, facilitating vendor payments, and providing greater financial flexibility for your team.

Cash Management Services

• Streamline your fund management processes with comprehensive cash management services, optimising liquidity, automating payments, and improving overall financial control for enhanced business efficiency.

Multi-location Access

• You can operate your account seamlessly across multiple Bank of Baroda branches nationwide, enabling convenient transactions, branch support, and consistent banking services regardless of your business location.

BOB Current Account Interest Rate

The Bank of Baroda (BOB) does not pay interest on current accounts, except in the case of a deceased account holder. These current accounts are designed for everyday transactions and not savings. However, in the case of a deceased account holder, interest is paid from the date of death until the account is settled. The interest rate is the same as that of a savings account.

BOB Current Account Customer Care

Bank of Baroda offers an efficient customer service team available 24 hours a day to assist and resolve your issues. If you have any queries, you can always contact the nearest branch of Bank of Baroda. 

In addition, you can contact Bank of Baroda customer care at 1800 5700/1800 5000 or +91 79-66296009 for queries related to your current account. 

How to Close BOB Current Account?

Here is a step-by-step guide you can follow to close your Bank of Baroda current account:

• Visit the Bank of Baroda branch, where you have your current account.
• Ask the bank representatives for the account closure form.
• Fill out the form and ensure all the information is correct. 
• After that, you must submit your passbook, chequebook, debit card and other documents related to the account. 
• You must attach proof of your identity and address to the form. 
• After you submit the form, the bank representatives will verify the documents and process your request to close your current account with BOB. 
• After successful verification, the bank will notify you using your registered mobile number.

BOB Current Account Charges

The following table illustrates the BOB currency account charges:

BOB Current Account Statement Password

The Bank of Baroda sends the current account statement to you as a password-protected PDF. It ensures that financial information is secure and safe from leaking any data. 

Usually, the Bank of Baroda statement password typically combines the first four letters of your name and your date and month of birth. For instance, if your name is Akash Kumar and your birthdate is 7th March, the password would be “akas0703”.

Final Word

The Bank of Baroda offers a variety of current accounts tailored to different business requirements. With benefits like unlimited transactions, overdraft facilities, and digital banking services, BOB current accounts are an excellent choice for businesses and entrepreneurs. Understanding the minimum balance, charges, and application process helps make an informed decision. 

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