BoB Introduces Zero Balance Savings Account: Explore Features and Benefits

The Bank of Baroda has launched the BoB LITE Savings Account, an alluring addition to its financial services, amid the celebrations. This new savings account, which embraces the ‘BoB Ke Sang Tyohaar Ki Umang’ campaign, gives users the ease of a lifelong zero balance feature, doing away with the requirement to have a minimum amount.

Features Of The BoB Lite Savings Bank Account

  • Lifetime savings account with no balance
  • can be opened by any resident, including kids who are literate and older than ten years old.
  • With a plethora of alluring features, the RuPay Platinum Debit Card is free for life, provided the following quarterly average balance is maintained:
  • For Metro/Urban branches, Rs. 3000
  • For semi-urban branches, Rs. 2000
  • For rural branches, Rs. 1000
  • Free Credit Card for Life, based on qualification 
  • attractive savings and promotions on Bank of Baroda credit and debit cards
  • In one fiscal year, thirty free cheques are available.

Festive Season Offers On BoB Lite Savings Bank Account

There are also several offers available for the BoB LITE Savings Account over the holiday season. Leading consumer companies in technology, consumer durables, travel, cuisine, fashion, entertainment, lifestyle, grocery, and healthcare have partnered with the bank for the holiday campaign.

Customers of Bank of Baroda may take advantage of exclusive deals and discounts from Reliance Digital, Croma, MakeMyTrip, Amazon, BookMyShow, Myntra, Swiggy, Zomato, and more companies. The joyous promotion will end on December 31, 2023.

Documents Required for BoB LITE Savings Account

The valid KYC documents for the BoB LITE Savings Account are:

  • Driving license with photo
  • Passport
  • Voter’s ID Card
  • NREGA Job Card
  • Municipal or property tax receipt
  • Utility bills
  • Letter by National Population Register that contains the beneficiary’s name and address

Documents For Students

  • College or institution ID
  • Admission letter from the college or institution
  • An allotment letter on the letter head of the college or institution

KYC Documents For Foreign Nationals

  • Passport
  • Valid Indian Visa
  • Address proof noting the current overseas address, such as a Foreign Driving License
  • Documents required for foreign students
  • Passport
  • Address proof having the current overseas address, including driver’s license, Social Security Card National Identification Card, among others.
  • Valid Indian Visa
  • PAN Card
  • Form 60

Ravindra Singh Negi, Chief General Manager – Retail Liabilities & NRI Business, Bank of Baroda said, “The account can be opened by any resident individual, including minors above the age of 10 years. bob LITE opens the doors to the formal banking ecosystem for a new generation of aspiring Indians and is aimed at fulfilling their hitherto unmet banking needs.”

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Stuti Talwar

Expressing my thoughts through my words. While curating any post, blog, or article I'm committed to various details like spelling, grammar, and sentence formation. I always conduct deep research and am adaptable to all niches. Open-minded, ambitious, and have an understanding of various content pillars. Grasp and learn things quickly.

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