What is the champ account of Bank of Baroda, in which children below the age of 18 years get many free facilities
There is no need for minimum outstanding balance for this account. The maximum balance remaining in the account is 1 lakh rupees. You can transact 5 thousand rupees every day. The limit of 3 thousand rupees per day combined transaction from ATM and POS is set.
Bank of Baroda’s Champ Account is for youth between 0 and 18 years of age. This account provides many free facilities to the account holders. If a student opens this account, then he will not have to pay any charge on the payment of school fees.
DD is free up to one lakh rupees per month for fee payment. Also, free NEFT and IMPS is also free for amounts up to 1 lakh per month. Under this, you make a deposit or ask for an account, it is kept free. Individual applicants above 10 years of age are issued a themed Roopa Baroda Champ Debit Card. There is no separate charge for issuing this debit card. However, a fee has to be paid for renewing it.
Many free features
Internet banking facility is available under the Champ account, provided that the minimum age of the account holder is 10 years. According to Bank of Baroda , mobile banking facility is available for Champ account and for this also the minimum age limit is 10 years. There is no minimum balance required for this account. The maximum balance remaining in the account is 1 lakh rupees. You can transact 5 thousand rupees every day. The limit of 3 thousand rupees per day combined transaction from ATM and POS is set.
How much money can i withdraw in a day
The account holder is allowed to withdraw 25 thousand rupees per day on the passbook with the withdrawal slip. Free passbook is given in this account. 100 rupees have to be paid to make a duplicate passbook. In a financial year, the facility of checkbook up to 45 pages is free and after that a fee of Rs 5 per page is charged. If there is no transaction in the savings account by the customer for two years, it is deactivated or dormant. Such savings account continues to attract interest. No separate fee is charged if the account is not operated.
Debit card facility
Nominee facility is provided for this account. A debit card is issued for applicants over 10 years of age. The debit card is free for the first year, after that it costs 150 rupees every year. 3 transactions in 1 month are free in 6 centers of the country such as Mumbai, Delhi, Kolkata, Chennai, Bengaluru, Hyderabad which includes financial and non-financial transactions. After this, 20 rupees will be charged on each transaction. At other centers (excluding these 6 centers) 5 transactions will be free in 1 month. After this, Rs 20 per transaction will be recovered. The fee for changing the debit card is 200 rupees and for PIN generation 150 rupees are charged.
Basic savings account feature
Similarly, there is a basic savings account in which many facilities are given. 50 check pages are allowed in a year and debit card and internet banking facility is available for account holders. Standing instructions, ECS etc. can be provided for such accounts. Earlier it was not allowed, which has been started now. The introduction and KYC norms in the account will be implemented as per the existing guidelines. The method of charging interest rate and interest rate will be same as in normal savings bank account. There will be no separate fee for activating the dormant accounts.
Comments
Post a Comment