BANK OF BARODA ACCOUNT CLOSING CHARGES (2024)

Are you looking to know about Bank of Baroda Account closing charges? If yes then you came to right article/blog.

In this article you get to know about Bank of Baroda Savings Bank and Current Account closing charges. This article is written after referring Bank of Baroda official website and reading more than 4 articles related to Bank of Baroda Account Closing charges. These charges is based on age (based on the account opened date) of the Saving Bank Account and Current Account.

Table of Contents

INTROUDUCTION TO BANK OF BARODA

Bank of Baroda is one of the Indian public sector bank. Its having headquarter in Vadodara (Gujarat). It’s started in the year 1908 in Vadodara, Gujarat. Its having wide range of products and services like Net Banking, Personal Banking services like Deposits, Credit Cards, Loans, Insurance and many more.

REASONS TO CLOSE BANK ACCOUNT

1. Bank Charges

Now a days customer having more than 2 to 3 accounts. Maintaining these accounts very difficult and banks debiting several charges such as Debit card charges, account maintenance charges etc. These unnecessary charges in the account may lead to close the account with the bank.

2. Transfer from one place to another place:

Due to Customer relocate from one place to another place for work may lead to close the account with the bank.

3. Interest Rates:

Now a days new banks offering higher interest rates compared to public sectors banks, by this customer move to new banks and customer may close his old

4. Dissatisfaction in Bank Services:

Customer may not be happy with the service provided with branch this may lead to closure of account with the branch.

BANK OF BARODA SAVING BANK ACCOUNT CLOSING CHARGES

If customer closes his saving bank account metro city/urban areas Bank of Baroda charges ₹ 100+GST.
If customer closes his SB account Rural and Semi-urban branches, Senior Citizens, Pensioners Bank charges ₹ 80+GST.
If Account is closed due to death of the customer bank does not charge any amount for closing of the account.

BANK OF BARODA CURRENT ACCOUNT CLOSING CHARGES

If customer closes his Bank of Baroda Current account within 14 days from the date of account opening bank not charge any amount.
If customer closes Bank of Baroda Current account beyond 14 days to within one year bank will charge Rs 800+GST for closure of the account.
In case of the death of account holder. Bank of Baroda not charges any amount for closure of the current account.

EXEMPTION FROM ACCOUNT CLOSING CHARGES

For the following types of Bank of Baroda account bank not charge any closure fees

Due to Death of the Account Holder.
Transfer of Account from one branch to another branch.
For BSBD Accounts.

CONCLUSION

Dear reader in this article you get to know about Bank of Baroda, Reasons for account closing, Bank of Baroda account charges for Saving Bank and Current account. Bank of Baroda account closing charges ranges between ₹ 80+GST to Rs 800+GST. If you have any query regarding this article kindly comment below.