Bennisha

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Published on: Sep 17, 2026

Bank of Baroda Current Account

A current account is a specialized deposit account designed for individuals and businesses that frequently engage in numerous transactions. These accounts are commonly utilized by professionals, entrepreneurs, and businesses of all sizes. Along with the benefit of unlimited transactions, current accounts provide overdraft facilities. Bank of Baroda offers a diverse range of current accounts. This guide outlines the documents required for opening a Bank of Baroda Current Account.

Eligibility

Current accounts can be opened and maintained by:

Sole Proprietorship Firms
Partnership Firms
Private Limited and Public Limited Companies
Joint Hindu Families
Trusts
Clubs
Minors above 14 years of age who can read and write

Opening a Current Account

To open a current account, the following prerequisites must be met:

Collect the prescribed account opening form from the bank and submit it after duly completing it.
Submit necessary documents to the bank at the time of opening the account.
Sign the declaration form agreeing to the terms of the Current Account. Provide a recent passport-sized photograph of every proprietor, partner, account holder, or director authorized to operate the account. The account must be introduced by an existing current/cash credit account holder active for at least six months.

Interest

According to the Reserve Bank of India (RBI) guidelines, no interest is paid for maintaining a credit balance in the current account. However, interest for Savings Bank will be paid on the credit balance of deceased account holders from the date of death till the date it is paid to the legal heirs. For deceased sole proprietors, interest will be credited to the sole proprietary firm.

Standing Instructions

The bank accepts standing instructions from account holders for regular remittances such as insurance premiums. If transactions involve another bank at the same or an upcountry center, charges will be levied at prescribed rates. This also includes actual postage and courier charges.

Documents Required

The documents required to open a current account include:

Identity proof - PAN card, voter ID card, passport, driving license.
Address proof.
Passport size photograph.
PAN or Form 49 A with Form 60 (if applied for PAN).
Account opening Cheque from existing Current Account.

Current Account Options

Bank of Baroda provides several account options for its corporate clientele:

Baroda Small Business Current Account
Baroda Premium Current Account
Baroda Premium Current Account-Privilege
Baroda Advantage Current Account

Baroda Small Business Current Account (BSBCA)

This account is tailored for small businesses such as start-ups or mom-and-pop stores. The account can be opened by individuals or proprietorship and partnership firms.

Features

Modelled on the 'Pay as You Use' concept.
Five non-ADC transactions are free every month.
Low Quarterly Average Balance requirement of Rs. 2,500.

Transactions

Transactions made with genuine purposes are allowed.
Annual turnover in the account is capped at Rs. 20 lakhs.
The first five non-ADC transactions are free; beyond that, Rs.10 + S. tax will be charged per transaction until the turnover reaches Rs 20 lakhs.
If annual turnover exceeds Rs 20 lakhs, Rs 15 + S. tax is charged per transaction.
All ADC transactions are free regardless of quantity.

Cash Deposit

A sum of Rs. 50,000 or up to 10 packets can be deposited free of charge in a base branch and local non-base branch. Rs. 10 is charged for every additional 1000 pieces (10 packets).
There are no restrictions for cash deposits in outstanding branches (if PAN is available).
Cash deposits with a debit card are permitted up to Rs. 2,00,000 (if PAN is registered); up to Rs. 49,999 can be deposited (if PAN is not registered).

Minimum Balance Required

The Minimum Quarterly Average Balance (QAB) requirement is Rs. 2,500. Non-maintenance attracts charges of Rs. 300 + ST per quarter.

Withdrawals

Cash withdrawals are only through cheques at the base branch, with five free transactions allowed monthly.

Baroda Premium Current Account (BPCA)

This account offers unlimited checkbooks, free signature verification, and discounts on demand draft and banker’s cheque facilities.

Features

Auto sweep / Reverse sweep feature.
Waiver of processing charges on car loans.
Unlimited issuance of chequebooks.

Transaction

Transactions made for legitimate purposes are allowed. A ledger folio charge of Rs. 75 is levied on every 25 entries quarterly.

Cash Deposit

The cash deposit norms are similar to those of the Baroda Small Business Current Account.

Minimum Balance Required

A Minimum Quarterly Average Balance (QAB) of Rs. 2,50,000 is required. Failure to maintain this balance incurs a Rs. 600 service charge plus taxes.

Withdrawals

Withdrawals here are via self-cheque up to Rs. 50,000 per day.

Baroda Premium Current Account-Privilege

This option caters to medium to large businesses, providing benefits such as immediate credit of outstation cheques and auto payroll.

Features

Free transfer of funds at CBS Branches outside the clearing area.
Auto sweep / Reverse sweep feature.
Waiver of processing charges on car loans.
Maintaining a Minimum Quarterly Balance of Rs. 2.5 Lakh.

Transactions

Transaction rules mirror those of the Baroda Premium Current Account.

Minimum Balance Required

The required Quarterly Average Balance is Rs. 2,50,000, with a charge of Rs. 1,000+S.T for non-maintenance.

Withdrawal

Withdrawal rules align with the Baroda Premium Current Account.

Baroda Advantage Current Account

Offered to both rural and urban customers, this account provides free mobile and internet banking services, along with a low minimum quarterly average balance.

Features

First-time free chequebook of 50 leaves.
Free fund transfers among CBS Branches and outside the clearing area via cheques.
A Minimum Quarterly Balance of Rs. 2,000 for Semi-Urban areas and Rs. 10,000 for Urban/Metro areas.
Charges of Rs. 350 per quarter for non-maintenance.

Transaction

Transactions for genuine purposes are sanctioned. A ledger folio charge of Rs. 75 is levied for every 25 entries quarterly.

Cash Deposit

Cash deposit norms are similar to Baroda Small Business Current Account.

Minimum Balance Required

Rural and Semi-Urban Branches require a Minimum Quarterly Average Balance (QAB) of Rs. 2,000, while Urban and Metro Branches need Rs. 10,000. Non-maintenance incurs charges of Rs. 350+Service Tax for Rural and Semi-Urban, and Rs. 625 for Urban & Metro Branches.

Withdrawals

The withdrawal limit is akin to the Baroda Premium Current Account (BPCA).

The Closing of an Account

To close an account, a written request is required. In partnerships and joint accounts, all partners must sign. For limited companies, a board resolution authorizing closure is needed. Return unused cheques and debit cards to the bank. Provide the latest account statement. If closed within a year, specific charges will apply.

For more information about business registrations in Bhubaneswar, visit our dedicated page.

Learn about the SARFAESI Act in India if you're interested in secured debts and recoveries.

For insights into proper company closure procedures, check out cross-border insolvency and bankruptcy.

Starting a new business? Learn about the cost involved in registering a company.

If you're interested in tax-related queries, visit our section on filing ITR-3 Forms in Allahabad.

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Frequently Asked Questions

Common questions about Bank of Baroda Current Account.

A Current Account with Bank of Baroda is a deposit account designed for individuals, professionals, entrepreneurs, and businesses who need to conduct a large number of transactions regularly. It allows unlimited transactions and provides the option for an overdraft facility.

Sole proprietorship firms, partnership firms, private and public limited companies, joint Hindu families, trusts, clubs, and minors above 14 years of age who can read and write are eligible to open a Current Account with Bank of Baroda.

The primary documents required include identity proof (PAN card, voter ID, passport, driving license), address proof, passport-size photograph, PAN or Form 49A with Form 60 (if applying for PAN), and an account opening cheque from an existing Current Account.

No, as per the directives of the Reserve Bank of India (RBI), no interest is paid for maintaining the credit balance in a Current Account with Bank of Baroda.

Bank of Baroda offers the following Current Account options: Baroda Small Business Current Account, Baroda Premium Current Account, Baroda Premium Current Account-Privilege, and Baroda Advantage Current Account.

The Minimum Quarterly Average Balance (QAB) requirement for the Baroda Small Business Current Account is Rs. 2,500. Non-maintenance of the Minimum QAB will result in a charge of Rs. 300 + Service Tax per quarter.

The cash deposit limits for the Baroda Premium Current Account are the same as those for the Baroda Small Business Current Account. A sum of Rs. 50,000 or up to 10 packets can be deposited free of cost in a base branch and local non-base branch.

The Minimum Quarterly Average Balance (QAB) requirement for the Baroda Premium Current Account-Privilege is Rs. 2,50,000. Non-maintenance of the Minimum QAB will result in a charge of Rs. 1000 + Service Tax.

The cash withdrawal limit for the Baroda Advantage Current Account is the same as that for the Baroda Premium Current Account. A sum of Rs. 50,000 per day can be withdrawn by an account holder by self-cheque.

To close a Current Account with Bank of Baroda, the account holder has to specify their intention to close the account in writing. All unused cheque leaves, debit cards, etc., must be returned to the bank, and the latest statement of the account should also be presented.