Bank of Baroda waives off minimum account balance charges on savings bank accounts. What does this mean?

Bank of Baroda has waived off minimum account balance charges from July 1, 2025. However, the bank will continue to levy charges on its premium savings bank accounts. These premium accounts include BOB Master Stroke SB account, BOB super savings account, BOB Shubh Savings account, BOB Platinum SB account, BOB Institutional account, and others.

Notably, PNB introduced a similar rule a couple of days ago.

Let us understand more on this here. There are 19 premium savings bank accounts offered by Bank of Baroda and there will be minimum charges in case the minimum balance is not maintained on any of these accounts.

Premium savings account

For instance, minimum balance in case of bob Sapphire Women SB Account is ₹1 lakh failing which minimum balance of ₹50 (excluding GST) will be levied in case of a metro city.

Likewise, minimum balance of ₹5 lakh will be levied in case of BOB Master Stroke SB account, failing which minimum charges of ₹200 will be levied.

Minimum balance of bob SUPER SAVINGS Account is ₹20,000 and minimum balance is ₹50.

(Source: bankofbaroda.in/interest-rate-and-service-charges/service-charges)

In case of BOB master stroke SB NRO account, minimum balance is ₹5 lakh, for BOB GLOBAL WOMEN NRO saving account, minimum balance is ₹one lakh and for BOB premium NRO saving account, minimum balance is ₹one lakh. In case of bob senior citizen samman scheme, minimum balance is ₹one lakh.

For special savings bank accounts for professionals, the minimum balance is ₹25,000 and for BOB global women NRE saving account, minimum balance is ₹one lakh.

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