Bank of Baroda (BOB) Savings Account Interest Rate & Minimum Balance 2025

Bank of Baroda savings account offers competitive interest rates along with various benefits. The bank provides multiple types of Bank of Baroda savings account options, customised to meet the diverse needs of its customers.

Key Highlights:

• Bank of Baroda saving account interest rate: 2.50% p.a. to 4.75% p.a., depending on the account balance
• Bank of Baroda saving account minimum balance: Zero to ₹1 lakh, depending on the account type
• Bank of Baroda savings account opening: Online through the BoB app or by visiting the BoB branch

What is Bank of Baroda Savings Account?

A Bank of Baroda savings account is a secure and flexible way to manage money while earning interest. A savings account offers essential banking tools like cheque book, passbook, debit card, mobile banking, and net banking. The bank offers a wide range of savings account types for individuals, families, senior citizens, professionals, and students. 

Bank of Baroda Savings Account Interest Rate 

Here is the Bank of Baroda savings account interest rate:

*The interest rates are applicable as of 22 August 2025

Bank of Baroda Minimum Balance for Savings Account 

The table below provides the minimum balance required to be maintained for the popular types of BOB savings accounts:

Types of Bank of Baroda Savings Account 

Bank of Baroda offers a variety of savings accounts to suit different needs, from everyday transactions to long-term goals. The popular BOB savings account types include:

• Baroda Platinum Savings Account: The Baroda Platinum Savings Account offers a daily cash withdrawal limit of ₹1 lakh and a purchase limit of ₹2 lakh with a personalized Visa Platinum chip debit card. Customers also enjoy a 10% discount on locker charges and free SMS/Email alerts.
• Baroda Senior Citizen Privilege Savings Account: The Baroda Senior Citizen Savings Account is for Indian residents aged 60 and above. It offers free unlimited BOB ATM transactions, a complimentary BOB Prime Credit Card with cashback benefits, a 25% locker rental waiver, and a free Visa Platinum Debit Card for the first year. 
• Baroda Mahila Shakti Savings Account: The Baroda Mahila Shakti Savings Account is designed for women, offering a free first-year RuPay Platinum Debit Card, ₹2 lakh accidental insurance, a 0.25% interest rate discount on two-wheeler loans, and reduced processing charges on auto, mortgage, and personal loans. 
• Super Savings Account: Opening this account will give you a free unlimited cheque book and a flexible auto or reverse sweep facility. This savings account is suitable for all individuals, including salaried people, self-employed persons, businessmen, professionals, housewives, and even minors over 10 years of age. 
• Baroda Family Savings Accounts: This savings account offers concessions on locker rental charges, manual NEFT/RTGS charges and Demat AMC. It also provides a waiver on cheque book charges, processing charges and interest rates of retail loans. A minimum of 2 family members can open this account, and the maximum is 6 members. Family members include spouses, parents, in-laws and children.
• Baroda Professional Saving Account: Professionals, such as doctors, CA, CFA, CS, engineers, MBA, advocates, and architects, can open this savings account. This account offers a free Rupay select debit card for the first year and an additional VISA platinum debit card upon request. You also get free 50 cheque leaves annually and free NEFT or RTGS through BOB World or any branch.
• Baroda Advantage Savings Account: This is the most common type of savings account. You get a cheque book and a passbook. They will get multiple withdrawal options and are eligible for debit cards, mobile banking and net banking.
• Baroda Champ Account: There is no minimum balance limit to open this account. Champ account is ideal for children aged between 0 and 18 years. Children from 10 years of age can use the Internet and mobile banking facilities. Issuance of theme-based Rupay Baroda champ debit cards is available for children above 10 years of age. 
• Baroda Pensioners Savings Bank Account: This savings account is extremely beneficial for pensioners. Pensioners can open this account with ₹5 only. This account is a zero balance account with a free unlimited cheque book. All pensioners retired from any central government department, state government department, local bodies, or PSU are eligible to open this account. This account also provides life insurance. 
• Baroda SB Self-Help Group Account: This account is exceptionally important for self-help groups – general and women empowerment. To open this account, you must have a minimum balance of ₹1,000. This account provides investors with free 30 cheque leaves in a financial year. 
• Baroda Jeevan Suraksha Saving Account: The Baroda Jeevan Suraksha Savings Account is available for individuals below 70 years, offering life insurance coverage up to ₹5 lakh. It requires a minimum balance of ₹1,000 and allows easy conversion from an existing savings account without changing the account number. 
• BOB BRO Savings Account: The BOB BRO Savings Account is a zero-balance account with auto-sweep for students aged 16–25. It offers free cheque books, SMS alerts, collateral-free education loans up to ₹40 lakh for premier institutes, and loyalty reward points via the BOB World app. 
• BOB LITE Savings Account: You can open this savings account with a zero balance. By availing of this account, you can get a free Rupay platinum debit card based on how you maintain a minimum quarterly average balance. You also get attractive discounts and offers on shopping, travel and E-commerce through credit and debit cards. 

Penalty for Not Maintaining Minimum Balance in Bank of Baroda Savings Account 

Here are the penalty charges for not maintaining a minimum balance in the Bank of Baroda savings account:

People residing in Metro/Urban areas will be charged a penalty as follows:

People residing in rural areas will be charged penalty as follows:

People residing in semi-urban areas will be charged penalty as follows:

Bank of Baroda Savings Account Charges 

You must pay certain fees and charges while maintaining a Bank of Baroda savings account. They are listed below as follows:

Cash Deposit Limit in Bank of Baroda Savings Account 

You can deposit cash amounts of ₹50,000 and above upon opening a savings account at the Bank of Baroda. For this, you need to submit a PAN as per the income tax requirement. However, the cash deposit limit is different at cash machines. 

At cash machines

• If your PAN is registered, you can deposit cash amounts of up to ₹2 lakh per day with a debit card and ₹49,999 if your PAN is not registered in your savings account.
• If you are carrying out cardless transactions, you can deposit cash of up to ₹20,000 per day.

If cash machines find any suspicious or fake notes, a receipt is given to the customers. Machines do not accept any kind of torn, taped or mutilated notes. 

How to Open a Savings Account in Bank of Baroda? 

To open a Bank of Baroda savings account online, follow the below-mentioned steps:

• Step 1: Install the Bank of Baroda app on your phone.
• Step 2: Click on the hamburger icon located in the top left corner of the screen.
• Step 3: Click ‘Accounts’ and choose ‘Open a Savings Account Digitally’.
• Step 4: Click ‘Yes’ if you agree to all the terms and conditions.
• Step 5: In the next step, enter your mobile number, product type, and sub-product and click ‘Generate OTP’ to receive the code.
• Step 6: Enter your basic details along with Aadhaar number and PAN card number. 
• Step 7: Once completed, bank executives will verify the documents and reach out to you.
• Step 8: The Savings account application will then be completed. Now, you need to process the video KYC for further verification.
• Step 9: Once you are done with video KYC, you can begin operating the new BOB savings account.

Documents Required for Opening Savings Account in Bank of Baroda 

• Proof of identity, any one of the following:
  • PAN card
  • Passport
  • Voter ID 
  • Driving license
  • Government/Defence ID Card
  • Pension payment orders 
  • Photo ID cards issued by Post Offices
  • Photo identity cards issued to students by a University approved by the University Grants Commission (UGC) or an Institute approved by the All India Council for Technical Education (AICTE)
• Proof of address, any one of the following:
  • Passport
  • Salary slip
  • Driving license
  • Income tax assessment order
  • Utilities like electricity bills, landline bills, not older than two months.
  • Bank statement
  • Voter ID card
  • Ration card
  • Pension payment orders
  • Registered sale deed or lease agreement
• PAN card
• Two passport size photographs

How to Close Bank of Baroda Savings Account? 

Customers willing to close their savings account with the Bank of Baroda must follow the steps below:

• Step 1: A written request letter needs to be submitted to the bank to close the savings account.
• Step 2: Fill out the Bank of Baroda savings account closing form. 
• Step 3: Enter all the necessary details to complete the application. Details include the account holder's name, mobile number, account number, and the method they would like their funds to be credited to their account, including cheque, cash, or fund transfer to another account.
• Step 4: Account holders must sign the closing form and submit it to any local branch of BOB, either to the officer in charge or their branch manager.
• Step 5: When submitting the savings account closing form, the account holder must provide their passbook, chequebook, and debit card. Moreover, if there are any unused cheques left, he/she should submit them as well.
• Step 6: Documentation proof, including PAN card, must be submitted along with an attachment of the KYC documents. 
• Step 7: Upon submission of all the necessary documents to the bank, the account holder's request for cancellation of their savings account will start.
• Step 8: Once the verification is completed, the account holder needs to withdraw the balance amount, if there is any.  

Conclusion 

Savings accounts are considered liquid bank accounts where you can earn interest on funds invested. With BOB, all individuals can open a zero-balance savings account within minutes. Opening a savings account with the Bank of Baroda is hassle-free and offers interest income. Bank of Baroda's savings account interest rate attracts customers and helps their money to grow. 

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