Bank of Baroda Introduced BOB Parivar Account for Savings & Current Accounts

Current Context: On 1st December 2023, Bank of Baroda has launched the BOB Parivar Account for Savings and Current Accounts.

• This is a new feature that allows customers to group their individual accounts under a single family or associated company and enjoy various benefits such as concessional interest rates, waiver of processing charges, concession in locker rent, demat AMC, and more.
• The BOB Parivar Account is available in three variants: Diamond, Gold, and Silver, with different PQAB requirements.
• The minimum number of members in the BOB Parivar Account is two and the maximum is six.
• The eligible family members for the BOB Parivar Savings Account segment include the spouse, parents, children, parents-in-law, daughter-in-law and/or son-in-law.
• The BOB Parivar Current Account Segment is available to proprietorship, partnership, LLP and Pvt. Ltd. companies, which are group companies.

Question:

Q.1 What is the minimum number of members required for the BOB Parivar Account?
a. One
b. Two
c. Three
d. Four