Bank of Baroda increases minimum balance limit for savings accounts

Bank of Baroda in a tweet said, "With effect from 1 February, 2019 the minimum quarterly average balance in Baroda advantage savings account will be updated". The bank for its metro, urban and semi-urban branches has increased the minimum quarterly average balance requirement for its savings account. For the rural branches, the bank has not brought about any change in the minimum quarterly average balance.
For BOB advantage savings account holder in urban and metro cities, the minimum quarterly average balance will be increased from Rs1,000 to Rs2,000 with effect from 1 February 2019. For semi-urban branches, the minimum balance will be Rs1,000, which has been Rs500 till now.
As per the bank's press release, the maximum amount charged for non-maintenance of minimum quarterly average balance in metro and urban bank branches is Rs200 while for semi-urban branches, the maximum penalty stands at Rs100.



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