Experience Banking at It’s Finest with Our Baroda Power Pack NRE Savings Account
Where Your Savings Meet Prosperity – Baroda Power Pack NRE Savings Account
Baroda Power Pack NRE Savings Account
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Benefits
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Features
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Eligibility Criteria
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Document Required
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Fees & Charges
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Most Important Terms and Conditions (MITC)
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Higher Interest than Normal NRI Savings Accounts on account of Sweep in Sweep
out facility
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Free Opulence Debit Card subject to maintenance of INR 5 Lac QAB or Free
Sapphire Debit Card
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Eterna Credit Card (subject to underwriting norms of BOBFSL)
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Free ATM Transactions using any Bank’s ATM
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Free SMS
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Free Unlimited Chequebook
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Free Net Banking and Mobile Banking
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Free NEFT/ RTGS ( for transactions done through Digital Channels)
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Preferential conversion rate for creation of Term Deposits
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Concession on NRI Home Loan and Auto Loan
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No Processing Charges on Home Loan and Auto Loan (Only out of Pocket expenses
payable)
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50% discount on Locker Charges
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Dedicated Relationship Manager subject to maintaining the requisite
Relationship Value
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Baroda Power Pack NRE Savings Account : Benefits
Baroda Power Pack NRE Savings Account : Features
| SN | Parameters | Details |
|---|---|---|
| 1 | Repatriability | Fully Repatriable |
| 2 | Quarterly Average Balance (QAB) | Rs.250,000/- |
| 3 | Auto transfer of Funds | Auto transfer of funds exceeding Rs. 3,00,000/- to Flexi-Fixed deposit (FFD) with a minimum of Rs.10,000/- for 12 months and auto retransfer to the account from FFD in multiples of Rs.1000/-. Balance of Rs. 250,000/- will be maintained at all times. |
| 4 | Rate of interest | Rate on FFD created out of Auto Sweep shall be as per ROI applicable for NRE Term Deposit for 12 Months. No Interest will be paid on FFD which has remained for less than 12 months No additional interest will be payable to Senior Citizen and Staff/ex-staff Members |
| 5 | Taxation | Income earned in the account is exempted from income tax and balances are exempted from wealth tax. |
| 6 | Nomination facilities | Available (on duly filled form) Nomination form has to be signed even if customer opts not to nominate |
| 7 | Permissible credits |
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| 8 | Permissible debits | Local disbursement, Remittance outside India, Transfer to other NRE/FCNR (B) accounts Investments in India (Investment options as permitted under FEMA) |
| 9 | Locker Charges | 50 % Discount on Existing Locker Rents |
| 10 | Debit Card | Opulence Debit Card- For Customers having QAB of Rs 5 lac , No Issuance Fee and No annual Maintenance Charges For Customers having QAB between Rs 2.5- 5 lac , 50% Issuance Fee and 50% annual Maintenance Charges will be payable Sapphire Debit Card- All Customers shall be eligible for Sapphire Card without any Issuance fee or Annual Fee. |
| 11 | Cheque Book |
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| 12 | IMPS/NEFT / RTGS charges through Electronic Channels like bob World Internet and bob World |
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| 13 | Internet Banking / Mobile Banking |
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| 14 | SMS charges |
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| 15 | ATM Charges |
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| 16 | Preferential INR conversion rate |
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| 17 | Collection of outstation Cheque |
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| 18 | Insurance cover: |
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| 19 | Waiver on processing charges of NRI Home Loan and Car Loan |
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| 20 | Concession on NRI Home Loan and Auto Loan |
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| 21 | Relationship Manager |
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Baroda Power Pack NRE Savings Account : Eligibility Criteria
Baroda Power Pack NRE Savings Account for NRIs and PIOs (Individuals of Pakistan and Bangladesh shall require prior approval of the RBI) Minors are not eligible under this scheme.
Baroda Power Pack NRE Savings Account : Document Required
- Photocopy of relevant pages of Passport
- Copy of Valid Visa / Work permit (Not Required for PIO)
- Copy of Permanent Account Number (PAN) / Form 60 (in the absence of PAN)
- PIO / OCI card if not an Indian citizen
- Document confirming Overseas and Indian address if applicable
- One passport size photograph of each applicant
Baroda Power Pack NRE Savings Account : Fees & Charges
- Cheque book – Free
- Locker Charges 50 % Discount on Existing Locker Rents
- Debit Card Opulence Debit Card -
- For Customers having QAB of Rs 5 lac , No Issuance Fee and No annual Maintenance Charges
- For Customers having QAB between Rs 2.5- 5 lac , 50% Issuance Fee and 50% annual Maintenance Charges will be payable
- Sapphire Debit Card-
- All Customers shall be eligible for Sapphire Card without any Issuance fee or Annual Fee.
- For closure of Account within a year: If Account is closed by Customer within a year. Full Charges related to Debit Card, Credit Card and Locker Charges is to be recovered.
- IMPS/NEFT / RTGS charges through Electronic Channels like bob World Internet and bob World- • Free (through Digital Channel). If fund transfer is done through Branch then Normal Charges will apply
- SMS charges: • Free
Baroda Power Pack NRE Savings Account : Most Important Terms and Conditions (MITC)
- Account can be opened either individually or jointly with other NRIs / PIOs
- Funds deposited in the account will be in the form of fresh remittances from overseas or transfer from other NRE / FCNR (B) account
- Auto transfer of funds exceeding Rs. 3,00,000/- to Flexi-Fixed deposit (FFD) with a minimum of Rs.10,000/- for 12 months and auto retransfer to the account from FFD in multiples of Rs.1000/-. Balance of Rs. 250,000/- will be maintained at all times.
