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If you are also a customer of Bank of Baroda (BoB) then there is good news for you. BOB, one of India’s leading public sector banks, launched the BOB family account for savings and current accounts. Under this, each account will be managed independently by the primary account holder and maintenance of Quarterly Average Balance (QAB) will be recorded at group/family level, thereby eliminating the need to maintain QAB in each account.
Available to both new and existing customers
BOB Family facility is available to both new and existing customers. A BOB family account can have a minimum of two and a maximum of six members. Eligible family members for the BOB Family Savings Account segment may include spouse, parents, children, daughter-in-law, daughter-in-law and/or son-in-law. BOB Family Current Account segment is available for Proprietorship, Partnership, LLP and Private Limited companies.
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Both BOB Parivar Savings Account and BOB Parivar Current Account segments are available with three different variants – Diamond, Gold and Silver with different pool based Quarterly Average Balance (PQAB) requirements (for savings accounts – Diamond: Rs. 5 lakh and above; Gold : Rs 2 lakh and above; Silver: Rs 50,000 and above; For Current Accounts – Diamond: Rs 10 lakh and above; Gold: Rs 5 lakh and above; Silver: Rs 2 lakh and above more) and includes related benefits.