Bank of Baroda Current Account

Bank of Baroda Current Account

Bank of Baroda Current Account

A current account is a deposit account meant for people who regularly make a large number of transactions. These accounts are widely used by professionals, entrepreneurs, and large and small-scale businesses. In addition to the option of unlimited transactions, these accounts permit the account holder to pursue overdraft facilities. Bank of Baroda offers its customers a wide range of current accounts. This article provides details of documents required for opening Bank of Baroda Current Account.


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

The following requisites must be followed to open a current account:

  • An individual has to obtain the prescribed account opening form from the bank. and submit the same after duly filling it.
  • The necessary documents must be submitted to the bank at the time of opening the account.
  • Every applicant has to sign the declaration form after agreeing with the terms of the Current Account. A recent passport size photograph of every proprietor/ partners/ account holder, office-bearers/ Directors of the company/ trustees and other officials to operate upon the account has to be given to the bank. The account has to be introduced by an existing current/ cash credit account holder who is active for a minimum of six months.


As per directives of the Reserve Bank of India (RBI), no interest has to be paid for maintaining the credit balance in the current account. Interest for Savings Bank will be paid on the credit balance of the deceased account holders from date of death till the date it is paid to the legal heirs. In scenarios where the sole proprietor is deceased, the interest will be rendered to the sole proprietary firm.

Standing Instructions

The bank accepts Standing Instructions from account holders for periodic remittances of insurance premia, and the likes of it. If the transaction involves another bank at the same center or an upcountry center, charges will be remitted at the prescribed rates. In addition to this, the actual postages and courier charges will be recovered.

Documents Required

The following documents are required to open a current account.

  • 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 of the Bank

The bank provides the following options to its corporate-customer base:

  1. Baroda Small Business Current Account

  2. Baroda Premium Current Account

  3. Baroda Premium Current Account-Privilege

  4. Baroda Advantage Current Account

Baroda Small Business Current Account (BSBCA)

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


  • This type of current account is based on the concept of ‘Pay as You Use’.
  • Five Non-ADC transactions are free every month.
  • A low Quarterly Average Balance requirement of Rs. 2,500.


  • Transactions made with genuine purposes are allowed.
  • Annual turnover permitted in the account is capped at Rs. 20 lakhs.
  • The first five non-ADC transactions are free of cost, after which Rs.10 + S. tax will be charged per transaction for all non-ADC transactions routed through branches till the annual turnover reaches Rs 20 lakhs.
  • If the annual turnover crosses Rs 20 lakhs, transaction charges are made at Rs 15+ S. tax per transaction will be levied.
  • All ADC transactions are free irrespective of the number.

Cash Deposit

  • 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. A sum of Rs. 10 will be charged for every additional 1000 pieces (10 packets).
  • There are no restrictions for cash deposit made in outstanding branches (if PAN is available).
  • Cash deposits with a debit card are permitted up to a sum of Rs. 2,00,000 (if PAN is registered); deposits up to Rs. 49,999 can be made (if PAN is not registered).

Minimum Balance Required

The Minimum Quarterly Average Balance (QAB) requirement for this account is affixed at Rs. 2500. Non-maintenance of the Minimum QAB will warrant charges of Rs. 300 +ST per quarter.


Cash can be withdrawn only through cheques and no cash withdrawals options are provided at the base branch. A total of five free transactions can be made in a month.

Baroda Premium Current Account (BPCA)

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


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


Transactions made with genuine purposes are allowed. A ledger folio charge of Rs. 75 is levied on every 25 entries made on a quarterly basis.

Cash Deposit

The norms of cash deposit here is the same as that of Baroda Small Business Current Account.

Minimum Balance Required

A Minimum Quarterly Average Balance (QAB) of Rs. Rs 2,50,000 must be maintained in the account. Non-maintenance of Minimum QAB will incur a sum of Rs. 600 as a as well as transfer of funds outside the clearing area through cheservice charge, in addition to taxes.


Withdrawals in this account can only be made through cheque. A sum of Rs. 50,000 per day can be withdrawn by an account holder in a day by self-cheque.

Baroda Premium Current Account-Privilege

This account is for medium to large scale businesses. The option provides the account holders with numerous free services and benefits such as an immediate credit of outstation cheques and auto payroll.


  • Free transfer of Funds at CBS Branches outside clearing area.
  • Auto sweep / Reverse sweep feature.
  • Waiver of processing charges on car loans.
  • A Minimum Quarterly Balance requirement of Rs. 2.5 Lakh.


The transactional rules of this account are identical to the above one i.e., Baroda Premium Current Account.

Minimum Balance Required

With regards to Quarterly Average Balance, a sum of Rs. 2,50,000 and a sum of Rs. 1000+S.T will be charged for non-maintenance of Minimum QAB.


The rules for withdrawal here holds similarities with the above account i.e., Baroda Premium Current Account.

Baroda Advantage Current Account

Baroda Advantage Current Account offers a wide range of benefits to both rural and urban customers, the likes of which include free mobile and internet banking and low minimum quarterly average balance.


  • First-time free chequebook of 50 leaves.
  • Free transfer of funds amongst CBS Branches, as well as a transfer of funds outside the clearing area through cheques.
  • A Minimum Quarterly Balance of  Rs. 2,000 is to be maintained for Semi-Urban areas, whereas Urban/Metro areas require maintenance of a sum of Rs.10,000.
  • Charges for non-maintenance of the minimum balance is Rs. 350 per quarter.


Transactions made with genuine purposes are allowed. A ledger folio charge of Rs. 75 is levied on every 25 entries that are made on a quarterly basis.

Cash Deposit

The norms of cash deposit here is the same as that of Baroda Small Business Current Account.

Minimum Balance Required

The Minimum Quarterly Average Balance (QAB) required for Rural and Semi-Urban Branches is Rs. 2, 000, and that for Urban and Metro Branches is Rs.10, 000. A sum of Rs. 350+Service Tax will be charged in Rural and Semi-Urban Branches and a sum of Rs. 625/+ Service charges are applied for Urban & Metro Branches for non-maintenance of Minimum Quarterly Average Balance (QAB).


The withdrawal amount here is the same as Baroda Premium Current Account (BPCA).

The Closing of an Account

To close an account, the account holder has to specify in writing the intention to close the account. In case of a partnership firm and joint account, the request has to be signed by all the partners. If it is a limited company, a board resolution authorizing closure of the account is required. All the unused cheque leaves, debit cards, etc,  must be returned to the bank. The latest statement of the account should also be presented. For accounts that are closed within a year, the bank shall recover specific charges from the customer.

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