The minimum balance required in Bank of Baroda depends on the type of account. Here are the details:
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Baroda Advantage Savings Account: The minimum balance required is known as Quarterly Average Balance (QAB), and it varies depending on the location of the branch. For example, the QAB is Rs. 2,000 in semi-urban or rural areas.
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Basic Savings Deposit Account: This is a zero balance account where you are not penalized for not maintaining a specified account balance, like the regular savings accounts. There is no minimum balance requirement.
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Baroda Salary Classic Savings Account: This is a zero-balance savings account relevant for new joiners in the workforce earning a monthly salary of between INR 10,000 and INR 50,000. There is no minimum balance requirement.
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Baroda Professional Saving Bank Account: The minimum Quarterly Average Balance (QAB) requirement is Rs. 25,000 for metro/urban/semi-urban/rural areas. If the balance falls below the QAB, a charge of Rs. 500+GST per quarter is levied.
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Baroda Advantage Current Account: The minimum Quarterly Average Balance (QAB) is Rs. 2,000 in semi-urban or rural areas.
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Bank of Baroda Savings Account: There are different types of savings accounts with different minimum balance requirements. For example, the Baroda Advantage Zero Balance Savings Account has no minimum balance requirement, while the Baroda Champ account has a minimum QAB of Nil.
It is important to note that the minimum balance requirements are subject to change, and it is best to check with Bank of Baroda for the latest information.
