bob Salary Privilege Account

Overview

bob Salary Privilege Account : Most Important Terms and Conditions (MITC)
Salary Band
Gross monthly salary credit more than Rs. 2 lakhs.
Eligibility
Age: - 18 to 60 Years (Salaried Customer having Account in the Scheme before retirement can continue the Account till attending the age of 70 years subject to crediting of Pension in the Account).
Suitable for
Top Management.
Minimum Deposit Amount
Allowed to open with Zero Balance subject to immediate salary credit in the following month.
Minimum Quarterly Average Balance QAB
Zero balance account.
Charges for Non-maintenance of QAB
Not applicable as account type is zero balance account.
Cheque Books
Free Unlimited Chequebook
Remittance
Free Unlimited RTGS/NEFT/IMPS/UPI
Inbuilt Overdraft Facility
Available immediately after first Salary Credit.
Amount of overdraft is equivalent to the net credit of first salary rounded off to the nearest figure in thousands.
Maximum: Rs. 3lakhs.
Clean overdraft.
Overdraft is to be adjusted in full once in 60 days of availing the same.
Demand Draft/Banker's Cheque
free unlimited DD/BC
Internet Banking/Mobile Banking
Free
Debit Card
Lifet Time Free Visa Sapphire Debit card (Renewal & Issuance Charges)
Waiver in Processing Charges on Retail Loans
100% Waiver in processing charges on HOME Loans. (Subject to recovery of minimum charges per property to be mortgaged as out of pocket expenses (for legal, valuation etc).
100 % Waiver in Processing Charges on Auto, Education & Personal Loans
* Applicable on mortgage based retail loans.

Concession in Rate of Interest for Auto Loans
For the employees who has availed home loan, a concession of 0.25% in applicable ROI of auto loan.
Lockers
50% discount on locker rentals (subject to availibility)
Other Benefits
Free SMS/ Email alerts.
Sweep facility available on specific request of Customer.
100% waiver on issuance / Renewal Charge for Prepaid /Gift card.
Bob World Mobile Banking Application with 225+ Services
A/c Opening
Fully digitised
A/c Activation
Instant
Interest Calculation and Frequency
Interest for the period February to April will be credited in May, Interest for May to July will be credited in August, interest for August to October will be credited in November and interest for November to January will be credited in February every year.
Dormant/Inoperative Account
Account becomes inoperative/dormant, if there are no customer-induced transactions in savings account for over a period of two years. Interest is continued to be applied in all such savings bank accounts. No charges are levied for the in-operation of accounts.
Activation/closure of dormant/inoperative accounts will be done after submission of necessary KYC documents, photo, fresh specimen signature, subject to satisfaction of the Bank.
All accounts which have remained inoperative/dormant for a period of 10 years and above will be treated as unclaimed deposits and will be transferred to RBI. Upon receipt of the request from the customer, such deposits will be returned subject to conditions.
Disclosure of Information
The Bank may disclose information about customer’s account, if required and permitted by law, rule or regulations, or at the request of any public or regulatory authority or if such disclosure is required for the purpose of preventing frauds, or in public interest, without specific consent of the account holder(s).
All relevant policies including code of commitments to customers and grievance redressal policy are available at the branches.
MITCs OF ATM/Debit Card, Mobile Banking, Net-Banking in application forms are available separately.
The Bank will notify, 30 days in advance, about any change in terms and conditions/fees and charges on its Website.
Deposits along with interest kept in different branches of our Bank is insured by Deposit Insurance & Credit Guarantee Corporation (DICGC) maximum up to Rs. 5 lakhs.
Transactions
Transactions of saving oriented nature are permitted. Commercial transactions are non-allowable transactions. If non allowable transactions are noticed then Bank may close the account with prior notice/intimation citing reasons thereof. In case of single account of minor to be operated by him/her the maximum balance outstanding on any day should not be more than Rs. 100000/- when the minor is aged between 10-14 years.