Bank of Baroda Salary Account

Bank of Baroda

Bank of Baroda (BoB) is one of India's oldest and largest public sector banks, founded in 1908 by Maharaja Sayajirao Gaekwad III of Baroda and headquartered in Vadodara, Gujarat. The bank is on the Reserve Bank of India's Second Schedule list of banks, is regulated under the Banking Regulation Act, 1949, and its depositor funds are insured by DICGC up to ₹5 lakh per depositor. Following the 1 April 2019 amalgamation under the Government of India's PSU consolidation plan, Bank of Baroda merged with Dena Bank and Vijaya Bank to form one of India's top three public sector banks, with a combined domestic network of 8,200+ branches and 12,000+ ATMs across India — with the strongest branch density across western and central India (Gujarat, Maharashtra, Madhya Pradesh, Rajasthan, and Uttar Pradesh) and a growing national footprint. The Bank of Baroda Salary Account is a zero-balance savings account designed for salaried employees routed through employer tie-ups with BoB. The account pays interest at 2.75% per annum on the daily closing balance, aligned with the prevailing RBI repo-linked savings bank rate applicable to Bank of Baroda savings deposits. The Monthly Average Balance (MAB) requirement is fully waived for the entire duration that the employer credits the monthly salary into the account, so there is no non-maintenance charge or quarterly MAB penalty while the salary relationship remains active. If salary credits stop for a defined period, the account is auto-classified as a standard Baroda Savings Account and the prevailing MAB slab of the home branch then applies. Account holders transact through the BoB World mobile app — BoB's flagship digital banking platform launched in 2020 — and the mPassbook / Baroda m-Connect Plus app, both supporting UPI, IMPS, NEFT, RTGS, mobile recharge, bill payments, FD/RD booking, and credit-card bill pay. A complimentary Baroda Salary Account Debit Card is issued at the time of account opening on the RuPay, Visa, or Mastercard network (variant depends on the corporate tie-up), with daily ATM and POS limits higher than a standard BoB Savings Account debit card. The BoB World app also supports paperless cheque-book requests, video KYC, and instant salary-credit alerts. Free unlimited NEFT, RTGS, and IMPS transactions are processed across BoB's own channels and the RBI's interoperable payment rails, with no per-transaction charges for salary account holders. The package includes a personal accident insurance cover bundled with the salary account, with the exact sum insured notified by BoB at the time of issuance and at periodic corporate tie-up renewals. Free SMS and email alerts on every debit and credit, free e-statement download, and a free quarterly passbook facility at any BoB branch are all part of the standard package. On retirement, resignation, or change of employer, the Bank of Baroda Salary Account is automatically converted to a regular Baroda Savings Account without any fresh documentation — the account number, UPI ID, debit card, and standing instructions remain active, and the relationship continues without disruption. The Bank of Baroda Salary Account is best suited for PSU employees, central and state government staff, defence and railway personnel, and employees of corporates with a BoB corporate tie-up, particularly in western and central India. Account opening is processed through the employer's HR with Aadhaar, PAN, employer ID, and the latest three months' salary slips, and the account is governed by RBI savings account norms and the RBI Master Direction on Interest Rate on Deposits. Source: Bank of Baroda official website, updated May 2026.