To increase its client base, Bank of Baroda has introduced a new kind of account called the Bank of Baroda Scheme. Launching this account over the holiday season has brought much-needed relief to many.
In reality, it is impossible for anyone to keep even the smallest amount in this account. That is, if interpreted in plain words, no one is obligated to keep the minimum amount in this bank account. All banks require customers to have a certain minimum balance in their accounts whenever a new account of any sort is established.
Although Bank of Baroda does not require customers to have a minimum amount in this account, it was designed with the understanding that customers would benefit from having the option if they did. This is also where you may receive a free, real-time Rupee Platinum Debit Card. It may be used at any ATM without any hassle.
Anyone over the age of ten may sign up for this account. That is, the age of the account user should be between 10 and 14 years, since the remaining balance cannot exceed Rs 10,000. Platinum cards, on the other hand, have a quarterly minimum balance requirement of Rs 3,000 across all major cities.
While the rate in major cities is Rs 2,000, the rate in rural regions is Rs 1,000. Remember that a penalty may be due in a year if the minimum amount on the card is not maintained. A free, 30-page checkbook is included with this account, too.
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In order to provide this service, Bank of Baroda has formed partnerships with businesses in a wide variety of industries. Credit and debit cards issued by the bank provide you access to special offers and discounts from participating businesses. In honor of the current holiday season, the bank initiated this promotion the day before yesterday.
