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Bank of Baroda offers LITE Savings Account with Lifetime Zero Balance Feature

Published on March 08, 2024
Current Context: Bank of Baroda offers a product called the bob LITE Savings Account.
Bank of Baroda offers LITE Savings Account with Lifetime Zero Balance Feature
  • Here are some key features of this account:
    • It’s a Lifetime Zero Balance Savings Account, which means there are no minimum balance requirements.
    • Customers get a free RuPay Platinum Debit Card if they maintain a Quarterly Average Balance (QAB) of Rs. 3000 for Metro/Urban branches, Rs. 2000 for Semi Urban branches, and Rs. 1000 for Rural branches.
    • The account can be opened by any resident individual, including minors above the age of 10 years.
    • The bank also offers attractive discounts and offers on Bank of Baroda Debit & Credit Cards.
    • Please note that while the account has no minimum balance requirement, if the QAB is not maintained, an annual fee on the debit card will be applied as per the bank’s guidelines.
    • Also, certain documents are required for account opening, including a Permanent Account Number (PAN) or FORM60, as well as other officially valid documents.

Question:

Q.1 Who can open the bob LITE Savings Account?
a. Only adults
b. Only minors
c. Any resident individual, including minors above the age of 10 years
d. Non-resident individuals
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