• baroda central forces salary package spotlight

We value your valour

Open Central Forces Salary Account and get attractive benefits.

Salary and Pension Solutions for Indian Central Forces Personnel

A savings cum pension account for the armed forces of India. To value your merit and bravery – we introduced the Central Forces Salary & Pension Account. Apply with us to avail overdraft facility of up to Rs. 3 Lakhs.

Read More
  • Benefits
  • Eligibility
  • Documents Required
  • Most Important Terms and Conditions (MITC)

Salary and Pension Solutions for Indian Central Forces Personnel : Benefits

Personal Accidental Insurance offerings for Serving Personnel

Eligibility Age:
  • Minimum    : 18 Years
  • Maximum   : 60 Years or retirement age whichever is earlier
Free Personal Accidental Insurance Offerings For Serving Personnel
  • Eligible Age – 18 years & above till retirement
  • Personal Accident Cover on Salary account
    1. PAI Death Cover : On-duty PAI cover ₹ 75 Lakhs and Off-duty PAI cover ₹ 60 Lakhs
    2. Permanent Total/ Partial Disability cover up to ₹ 60/ ₹ 30 Lakhs
    3. Air Accident Insurance Cover ₹ 100 Lakhs
    4. Inclusion of deaths in active operations in Personal Accident Insurance
    5. Transportation of Dead body – Actual cost or ₹ 50,000/- whichever is lower
    6. Cost of Plastic Surgery / Burn up to ₹ 2 Lakhs
    7. Daughters’ Marriage Cover (for 18-25 Years of age): ₹ 6 Lakhs (irrespective of no. of daughters)
    8. Child Higher Education cover: ₹ 6 Lakhs (irrespective of no. of children)
  • Additional Personal Accidental Death and Permanent Total Disability cover of ₹ 10 Lakhs on available Yoddha Debit Card – Rupay variant
Free Personal Accidental Insurance Offerings For Veterans
  • Eligible Age – 60 Years or age of retirement whichever is earlier, till Lifelong
  • Personal Accident Cover on Pension account
    1. PAI Death Cover : on Pension account upto ₹ 35 Lakhs
    2. Permanent Total/ Partial Disability cover up to ₹ 35/ ₹ 17.5 Lakhs
    3. Ambulance cost Cover upto ₹ 50,000.
    4. Cost and Transportation of Imported Medicine up to ₹ 2 Lakhs
    5. Daughters’ Marriage Cover (for 18-25 Years of age): ₹ 3.5 Lakhs (irrespective of no. of daughters)
    6. Child Higher Education cover: ₹ 3.5 Lakhs (irrespective of no. of children)
  • Additional Personal Accidental Death and Permanent Total Disability cover of ₹ 10 Lakhs on available Yoddha Debit Card – Rupay variant
Benefits in Yoddha Debit card
  • Lifetime Free Debit Card
  • Personal Accident Insurance - Death and Total disability cover of ₹ 10 Lakhs.
  • Waiver of Issuance/ Re-issuance / Annual Fee
  • Other attractive offers to know more click here
Benefits in Co-Branded Credit Card
  • Lifetime Free Credit card subject to eligibility.
  • Other attractive offers to know more click here
Other Benefits
  • Account opening through Video KYC and Tab Banking
  • Unlimited Free Transactions at all Bank ATMs
  • Free Remittances – RTGS / NEFT / IMPS (through all modes)
  • Free Unlimited – Demand Draft / Banker’s Cheque
  • Free Unlimited – Personalized Cheque books
  • Free Mobile Banking – Save, Borrow, Invest, Shop through bob World App
  • Free Internet Banking – bob World Internet
  • 50% waiver on Locker Rentals
  • 100% waiver on Demat Annual maintenance charges
  • 75% waiver on issuance charges for Gift and Travel Card
Retail Loan Facilities
  • Salary Overdraft up to ₹ 3.00 Lakhs*
  • Digital Loans available
  • Pre-approved Loans available
  • Personal Loan upto ₹ 20 lakhs at attractive ROI
  • YODDHA LOANS (Auto, Home, Two Wheeler, Education and Pension Loans)
    1. Concession on Processing charges*
    2. Low rate of Interest.
    3. Scheme benefits extended to Veterans*

*Subject to terms and condition

Salary and Pension Solutions for Indian Central Forces Personnel : Eligibility

Eligibility criteria
  • For salaried employee:
    1. Scheme is applicable for regular employee
    2. Scheme will be applicable after credit of one month salary of the employee and thereafter regular salary credit in the account
    3. At the time of opening of account of employees who are having salary arrangement with other Banks, employees shall provide a mandate to shift their salary to Bank of Baroda in the organization payroll department

    • Or

  • For pensioner:
    1. Scheme will be applicable after credit of one month pension to the pensioners’ account and thereafter regular pension credit in the account
Employees of listed Forces are eligible
  • Assam Rifles
  • Border Security Forces
  • GREF (Border Roads Organization - BRO)
  • Indo-Tibetan Border Police
  • Sashastra Seema Bal
  • Central Industrial Security Force
  • Central Reserve Police Force
  • Railway Protection Force
  • National Disaster Response Force
  • Special Security Forces

Salary and Pension Solutions for Indian Central Forces Personnel : Documents Required

List Of Valid KYC Documents For Account Opening
Permanent Account Number (PAN)/ FORM60 is mandatorily to be obtained while opening of the accounts as per extant Reserve Bank of India Guidelines.
Mandatory Documents for defence personnel

 

 
  • Employee ID/ Service certificate for Salary Accounts or
  • Pension orders (PPOs) issued to retired employees by concerned organisation for Pension Accounts
Officially Valid Documents (OVDs) for Accounts of Individuals

 

 
  • Passport
  • PAN card
  • Driving license with photo
  • Proof of possession of Aadhaar Number
  • Voter’s Identity Card issued by Election Commission of India
  • Letter issued by the National Population Register containing details of Name and Address
Deemed Officially Valid Documents, In case OVD does not contain current/ updated address.

(At least one document from the list is Required)

 

 

 
  • Utility bill of any service provider i.e. electricity, telephone, postpaid mobile phone, piped gas, water bill (not more than two months old)
  • Property or Municipal Tax receipt;
  • Pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings, If they contain the address;
  • Letter of allotment of accommodation from employer issued by State or Central Government departments, statutory or regulatory bodies, and public sector undertakings, scheduled commercial banks, financial institutions and listed companies. Similarly, leave and license agreements with such employers allotting official accommodation

Salary and Pension Solutions for Indian Central Forces Personnel : Most Important Terms and Conditions (MITC)

Withdrawal(s) & use of Withdrawal Form (Slip)
  • Withdrawals will be allowed either by withdrawal forms or by cheques. Payment against withdrawal form along with passbook is allowed for self only with per day limit of Rs. 25000/- (Minimum Rs. 25/- in Rural/SU and Rs. 50/- in Metro/Urban)
Passbook and statement of account
  • Free 1 st Pass Book
  • Rs.100/- per duplicate Pass Book/Statement with latest balance only
Transfer of Account/ Scheme

Upon submission of application along with pass book and unused cheque leaves the account can be transferred to another branch/ scheme free of charge.

Interest Calculation and Frequency
  • Interest for the period February to April will be credited in May, Interest for May to July will be credited in August, interest for August to October will be credited in November and interest for November to January will be credited in February every year.
Dormant/ Inoperative Account
  • Account becomes inoperative/dormant if there are no customer induced transactions in Savings account for over a period of two years. Interest is continued to be applied in all such Savings Bank accounts. No charges are levied for in-operation of accounts.
  • Activation/Closure of Dormant/Inoperative accounts will be done after submission of necessary KYC documents, photo, fresh specimen signature, subject to satisfaction of the Bank.
  • All Accounts which have remained inoperative/dormant for a period of 10 years and above will be treated as unclaimed deposits and will be transferred to RBI. Upon receipt of the request from the customer such deposits will be returned subject to conditions.
Nomination Facility

Nomination facility available

Rules for Transfer/ inter-sol transfer/clearing transactions and charges
  • Transfer Transaction at base branch Allowed freely without any limit.
  • Transfer Transaction at Non-base branch (local as well as outstation) normally allowed only at a branch where either drawer or payee maintains account. However, for genuine transactions, Branch Head is authorized to allow transactions at non-base branch (where neither drawer nor payee maintains account) on case to case basis subject to certain conditions.
Disclosure of Information:
  • The Bank may disclose information about customer’s account, if required and permitted by law, rule or regulations, or at the request of any public or regulatory authority or if such disclosure is required for the purpose of preventing frauds, or in public interest, without specific consent of the account holder(s).
  • All relevant policies including code of commitments to customers and grievance redressal policy are available at the branches
  • MITCs OF ATM/DEBIT Card, Mobile Banking, Net- Banking in Application Forms are available separately.
  • The Bank will notify, 30 days in advance, any change in terms and conditions/ Fees and charges on its website.
  • Deposits along with interest kept in different branches of our Bank is insured by Deposit Insurance & Credit Guarantee Corporation (DICGC) maximum upto Rs 5,00,000( Rs. 5 lakh).
For more details on Baroda Defence and Police Salary Package

For Salary e-mail us at: defencebanking.delhi@bankofbaroda.com

For pension accounts: cppc.delhi@bankofbaroda.com

Need Assistance?

Frequently Asked Questions (FAQs)

  • What is DSP account?

    It is a Baroda Defence Salary Package SB Account"- (SB186)

    Accordingly, the following forces shall be covered under the scheme in three broad

    categories:

    • Baroda Military Salary Package
    • Baroda Central Forces Salary Package
    • Baroda Police Forces Salary Package
  • Who is eligible for DSP account?

    It is a Baroda Defence Salary Package SB Account"- (SB186)

    Accordingly, the following forces shall be covered under the scheme in three broad

    Categories:

    • Baroda Military Salary Package
    • Baroda Central Forces Salary Package
    • Baroda Police Forces Salary Package
    • Baroda Military Salary Package for Institutions falling under Ministry of

    Defence:

    Indian Armed Forces - Eligible Institutions

    Indian Army

    Indian Navy

    Indian Air Force

    Indian Coast Guards

    • Baroda Central Forces Salary Package for institutions falling under Ministry

    of Home Affairs.

    Indian Central Forces - Eligible Institutions

    Assam Rifles

    Rashtriya Rifles (RR)

    GREF (Border Roads Organization (BRO)

    Border Security Forces (BSF)

    . / Indo-Tibetan Border Police (ITBP)

    National Security Guard (NSG)

    Sashastra Seema Bal (SSB)

    Central Industrial Security Force (CISF)

    Central Reserve Police Force (CRPF)

    • Baroda Police Forces Salary Package for institutions falling under Ministry

    of Home Affairs.

    Indian Police Forces - Eligible Institutions

    Railway Protection Force (RPF)

    National Disaster Response Force (NDRF)

    Central Bureau of Investigation (CBI)

    State Police Forces (SPF)

    State Home Guards (SHG)

    Special Security Forces (SSF)

  • What is the interest rate on Salary and Pension Solutions for Indian Central Forces Personnel?

    Interest rate for Baroda advantage savings account is same as applicable for normal savings account. Please visit our interest rates section of our website for the latest rates offered.

  • What are the eligibility criteria to open a salary and Pension Solutions for Indian Central Forces Personnel?

    Indian Central Forces – Eligible Institutions

    • Assam Rifles
    • Rashtriya Rifles (RR)
    • GREF (Border Roads Organization (BRO)
    • Border Security Forces (BSF)
    • Indo-Tibetan Border Police
    • National Security Guard
    • Sashastra Seema Bal
    • Central Industrial Security Force
    • Central Reserve Police Force
  • What are key requirements for opening salary and Pension Solutions for Indian Central Forces Personnel?

    Applicable documents for opening Savings account as per extant guidelines

    • Employment ID card of the employees of the following organisations
    • Central Reserve Police Force
    • Assam Rifles
    • Rashtriya Rifles (RR)
    • GREF (Border Roads Organization (BRO)
    • Border Security Forces (BSF)
    • Indo-Tibetan Border Police
    • National Security Guard
    • Sashastra Seema Bal
    • Central Industrial Security Force.
  • How much money can be deposited in this scheme?

    There is no upper limit for depositing money in this scheme.

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