​Bank of Baroda (BoB) offers a range of salary accounts tailored to meet the diverse needs of employees across various salary brackets. These accounts have numerous benefits, including zero balance requirements, complimentary insurance coverage, discounts on locker rentals, and preferential loan processing fees. 

This article provides an overview of BoB’s salary accounts, detailing their features, eligibility criteria, interest rates, and the account opening process.​

Bank of Baroda Salary Account Benefits

Bank of Baroda offers a wide range of salary accounts, each designed with employee convenience in mind. Here are the core benefits that come with opening a salary account at Bank of Baroda:

Zero Balance Facility

• Most BoB salary accounts do not require any minimum balance, allowing account holders to manage their finances freely without worrying about penalties.

Free Personal Accident Insurance (PAI)

• Depending on the salary account type, you can get complimentary PAI coverage of up to ₹60 lakh, with additional air accident insurance up to ₹1 crore.

Overdraft Facility

• Eligible salary account holders can enjoy an in-built overdraft facility, typically equal to one month’s salary or a fixed amount based on the account type (e.g., ₹50,000 or ₹1,00,000).

Discount on Locker Rentals

• Enjoy discounts of up to 50% on locker rentals, helping you secure your valuables at a lower cost.

Free Debit and Credit Cards

• Most salary accounts come with a lifetime free debit card and select accounts offer complimentary credit cards with no joining or annual fees.

Loan Benefits

• Get special processing fee waivers and lower interest rates on personal loans, home loans, car loans, and education loans.

Additional Family Benefits

• Some account variants allow opening a zero-balance account for your spouse, adding extra convenience for joint financial planning.

Preferential Offer 

• Access exclusive discounts on gift cards, travel cards, and Demat account AMC. You can also benefit from reduced fees for fund transfers and cheque facilities.

Digital Banking Convenience

• BoB provides seamless internet and mobile banking services, with unlimited free NEFT, RTGS, IMPS, and UPI transactions for most salary accounts.

Customised Benefits for Defence & Govt. Employees

• Special salary accounts offer lifelong insurance benefits, children’s education support, and overdraft facilities for veterans and active personnel.

Bank of Baroda Salary Account Eligibility

To become eligible for the Bank of Baroda salary account, your salary should be as per the criteria. Follow this table to learn more:

Bank of Baroda Salary Account Opening Documents Required

This is the list of documents required for BOB salary account opening:

• Proof of Employment
• Copy of PAN Card
• Latest Salary Slip
• Proof of Identity and Address
• Passport Size Photograph

Bank of Baroda Salary Account Opening Charges

The account opening charges for the Bank of Baroda salary account are NIL. Most salary accounts, including BOB Salary Classic, Salary Super, and Government Employee Salary Accounts, come with zero account opening charges and no minimum balance requirement.

Bank of Baroda Salary Account Opening Minimum Balance

You do not need to deposit any minimum balance for a BOB salary account opening online or offline. You have to choose the correct account based on your salary.

Bank of Baroda Salary Account Maintenance Charges

A salary account operates as a zero-balance account, allowing you to manage your finances without maintaining a minimum balance. Since no monthly balance is needed, you are free from penalty charges, which provides greater flexibility when handling your money.

Bank of Baroda Salary Account Interest Rate

Follow this table to learn the Bank of Baroda salary account interest rates:

How to Open a Bank of Baroda Salary Account Online?

Generally, an employer has tie-ups with specific banks, and the bank officials visit the office premises to open a new employee’s salary account. To open a salary account in the Bank of Baroda,

• You must complete a form provided by your employer, which is then submitted to the bank on their behalf.
• You must provide details directly to the designated bank to open a BOB salary account online or offline.
• You must submit all the required documents for identity and address verification, and the bank’s executive will authenticate the details.
• Once the verification is completed, the bank will share your account details.

How to Open a Bank of Baroda Salary Account Offline?

An employer generally opens a salary account. In case you want to open it offline, this is how to open a salary account in the Bank of Baroda:

• Go to the nearest Bank of Baroda branch and approach the customer service desk.
• Request an account opening form and provide your details as required.
• Submit the necessary documents.
• The bank will verify your documents and process the application.
• Once verified, you will receive your account details and a banking kit, including a debit card and a personalised chequebook.

How to Close Salary Account in Bank of Baroda?

To close a Bank of Baroda salary account, you have to follow these steps:

• Go to the Bank of Baroda branch where your account is held/home branch.
• Ask a bank official for the account closure form.
• Complete the form carefully and ensure all details are accurate.
• Return your passbook, chequebook, debit card, and any other documents linked to your account.
• Include valid proof of identity and address along with the form.
• Once submitted, the bank will verify your documents and process your account closure request. 

Final Word

To conclude, the Bank of Baroda salary account can be a great choice if you are looking for insurance coverage, locker charges discount, retail loan facilities, etc. If you want to open a new account, you can approach your employer. In case you switch your company, instead of closing your salary account, you can ask your new employer if you already have an account. For any type of help regarding BOB salary accounts, you can contact the customer support team at 1800 5700.

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