Podcast
Questions and Answers
What is the Monthly Average Balance (MAB) required for the BOB Rhodium Current Account?
What is the Monthly Average Balance (MAB) required for the BOB Rhodium Current Account?
Which current account scheme is best suited for extremely large businesses with high transactional requirements?
Which current account scheme is best suited for extremely large businesses with high transactional requirements?
What is the free Anywhere Cash Deposit Limit for the BOB Diamond Current Account?
What is the free Anywhere Cash Deposit Limit for the BOB Diamond Current Account?
What is the minimum transaction required to maintain the zero monthly rental for POS in the BOB Rhodium Current Account?
What is the minimum transaction required to maintain the zero monthly rental for POS in the BOB Rhodium Current Account?
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What feature is available in the BOB Advantage Current Account regarding overdrafts?
What feature is available in the BOB Advantage Current Account regarding overdrafts?
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What is the free Anywhere Cash Deposit Limit for the BOB Advantage Current Account?
What is the free Anywhere Cash Deposit Limit for the BOB Advantage Current Account?
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What multiples does the sweep facility apply to in the BOB Rhodium Current Account?
What multiples does the sweep facility apply to in the BOB Rhodium Current Account?
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Which of the following features is common to all mentioned current account schemes?
Which of the following features is common to all mentioned current account schemes?
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What is the required Quarterly Average Balance (QAB) for the BOB Premium Current Account?
What is the required Quarterly Average Balance (QAB) for the BOB Premium Current Account?
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What is the maximum daily cash deposit limit for the account?
What is the maximum daily cash deposit limit for the account?
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What is the penal interest rate applicable for premature payment of Callable Term Deposits?
What is the penal interest rate applicable for premature payment of Callable Term Deposits?
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Which of the following services is free and offered with the BOB Premium Current Account?
Which of the following services is free and offered with the BOB Premium Current Account?
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What is the minimum monthly transaction requirement for the free POS service?
What is the minimum monthly transaction requirement for the free POS service?
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At what amount does the Sweep facility become available in the BOB Premium Current Account?
At what amount does the Sweep facility become available in the BOB Premium Current Account?
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What is the maximum collateral-free Overdraft amount available with the BOB Premium Current Account?
What is the maximum collateral-free Overdraft amount available with the BOB Premium Current Account?
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Which scheme's upper cap limits were removed for NRI Customers according to recent updates?
Which scheme's upper cap limits were removed for NRI Customers according to recent updates?
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What is the optimal transaction requirement to avoid monthly rentals for the POS service?
What is the optimal transaction requirement to avoid monthly rentals for the POS service?
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What is the penal interest applicable for premature withdrawal of Callable Term Deposits?
What is the penal interest applicable for premature withdrawal of Callable Term Deposits?
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What is the maximum free Anywhere Cash Deposit Limit for the BOB Advantage Current Account?
What is the maximum free Anywhere Cash Deposit Limit for the BOB Advantage Current Account?
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The BOB Diamond Current Account has a Monthly Average Balance (MAB) requirement of ₹. 50.00 Lakh.
The BOB Diamond Current Account has a Monthly Average Balance (MAB) requirement of ₹. 50.00 Lakh.
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What is the collateral-free Overdraft amount available for the BOB Rhodium Current Account?
What is the collateral-free Overdraft amount available for the BOB Rhodium Current Account?
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The sweep facility is available above Rs. ______ in multiples of Rs. 1,00,000 for the BOB Diamond Current Account.
The sweep facility is available above Rs. ______ in multiples of Rs. 1,00,000 for the BOB Diamond Current Account.
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Match the following current account schemes with their specific features:
Match the following current account schemes with their specific features:
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Which account requires a Minimum Average Balance (MAB) of ₹ 25.00 Lakh?
Which account requires a Minimum Average Balance (MAB) of ₹ 25.00 Lakh?
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Free RTGS/NEFT/IPMS services are provided with all mentioned current account schemes.
Free RTGS/NEFT/IPMS services are provided with all mentioned current account schemes.
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What is the maximum cash deposit limit per day for the BOB Rhodium Current Account?
What is the maximum cash deposit limit per day for the BOB Rhodium Current Account?
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What is the Quarterly Average Balance (QAB) required for the BOB Premium Current Account?
What is the Quarterly Average Balance (QAB) required for the BOB Premium Current Account?
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The BOB Premium Current Account allows a free Anywhere Cash Deposit Limit of ₹ 10 Lakh per day.
The BOB Premium Current Account allows a free Anywhere Cash Deposit Limit of ₹ 10 Lakh per day.
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The maximum collateral-free Overdraft available with the BOB Premium Current Account is ₹ _________.
The maximum collateral-free Overdraft available with the BOB Premium Current Account is ₹ _________.
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Match the following features with their specific requirements:
Match the following features with their specific requirements:
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What is the free deposit limit for cash transactions in the BOB Premium Current Account?
What is the free deposit limit for cash transactions in the BOB Premium Current Account?
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The penalty for premature withdrawal of deposits is not applicable for deceased claim settlement.
The penalty for premature withdrawal of deposits is not applicable for deceased claim settlement.
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The upper cap for Baroda Advantage Fixed Deposit (Non-Callable) for NRI Customers was removed from the existing limit of ₹ _________.
The upper cap for Baroda Advantage Fixed Deposit (Non-Callable) for NRI Customers was removed from the existing limit of ₹ _________.
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What is the minimum transaction required to maintain zero monthly rental for POS in the BOB Premium Current Account?
What is the minimum transaction required to maintain zero monthly rental for POS in the BOB Premium Current Account?
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Study Notes
Current Account Schemes
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BOB ADVANTAGE CURRENT ACCOUNT (CA101): Designed for small businesses with minimal transactions. Requires a quarterly average balance (QAB) of ₹2,000 (rural), ₹5,000 (semi-urban), or ₹10,000 (urban/metro). Allows a daily cash deposit limit of up to 1,000 notes. Includes one Soundbox QR. Offers overdraft up to ₹25 lakh.
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BOB PREMIUM CURRENT ACCOUNT (CA108): Suitable for small businesses with moderate transaction needs. Requires a QAB of ₹75,000. Daily cash deposit limit up to ₹7.50 lakh (subject to 10x MAB). Includes sweep facility above ₹5,00,000 in multiples of ₹25,000, and reverse sweep in similar increments. Includes 5 Soundbox QRs and 1 POS (with minimum transaction requirements). Offers overdraft up to ₹25 lakh.
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BOB RHODIUM CURRENT ACCOUNT (CA145): Best for large businesses with high transactional volume. Requires a monthly average balance (MAB) of ₹25 lakh. Allows daily cash deposits up to ₹250 lakh (subject to 10x MAB). Includes unlimited RTGS/NEFT/IPMS and a cheque book. Includes sweep facility above ₹50 lakh in ₹1 lakh increments and reverse sweep. Includes 30 Soundbox QRs and 8 POS (with minimum transaction requirements). Offers overdraft up to ₹25 lakh.
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BOB DIAMOND CURRENT ACCOUNT SCHEME (CA146): Tailored for extremely large businesses with high transactional demands. Requires an MAB of ₹50 lakh. Allows daily cash deposits up to ₹500 lakh (subject to 10x MAB). Features unlimited RTGS/NEFT/IPMS and a cheque book. Includes sweep facility above ₹1 crore in ₹1 lakh increments. Includes 50 Soundbox QRs and 10 POS (with minimum transaction requirements). Offers overdraft up to ₹25 lakh.
Transaction & Account Features
- Free Anywhere Cash Deposit: Limits vary by account type, ranging from 1,000 notes per day to ₹500 lakh per day. All are subject to 10 times the Monthly Average Balance.
- Free RTGS/NEFT/IPMS: Included in all account types listed.
- Unlimited Cheque Books: Included in all account types listed.
- Sweep Facility: Available above specified thresholds (₹20,00,000, ₹50,00,000, ₹1,00,00,000) in ₹1,00,000 increments (in some cases, higher by ₹25,000 increments).
- Soundbox QR & POS: Number of each varies by account type (1 to 50 QRs), and both come with monthly minimum transaction requirements (₹2,00,000 & ₹1,00,000 for QRs and POS, respectively).
- Zero Intersol Transaction Charges: Common to all listed accounts.
- Collateral-Free Overdraft: Available for all account types up to ₹25 lakh in some cases.
- Penal Interest: For premature withdrawals of non-callable term deposits, a 2% penalty will be applied to the callable deposit rate.
Term Deposit Changes (Removal of Upper Cap Limit)
- Baroda Advantage Fixed Deposit (Non-Callable) upper cap limits for NRI customers (RIRD/MIP/QIP Scheme) have been removed.
- This change for NRE/NRO customers took effect September 5.
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Description
Explore the various current account schemes offered by BOB, including tailored options for small and large businesses. Each account type has specific requirements such as average balances and transaction limits. Understand the features and benefits designed to cater to different business needs.
