Bank of Baroda Introduces Special Savings Account for Women with Exclusive Benefits

Bank of Baroda Introduces Special Savings Account for Women with Exclusive Benefits Newspoint | 08/03/2025 15:39:13

Bank of Baroda's New Initiative for Women
On the occasion of Women’s Day, the Bank of Baroda (BoB) has launched a unique savings account exclusively for women, called the ‘bob Global Women NRE & NRO Savings Account.’ This special account comes with an ‘Auto Sweep’ facility, allowing women to maximize their savings while enjoying premium banking services.

Exclusive Benefits for Women Account Holders
Bank of Baroda has become the first public sector bank to introduce such a specialized account catering to women’s financial needs. With this initiative, women account holders can avail of lower interest rates on home loans and auto loans. Additionally, processing fees on loans under this account will be significantly reduced.

The bank has enhanced its flagship NRE offering—bob Premium NRE and NRO Savings Account—by adding more features to provide an enriched banking experience for customers.

Premium Banking Privileges

Bina Waheed, Executive Director of Bank of Baroda, stated that the ‘bob Premium NRE & NRO Savings Account’ has been tailored to meet the evolving financial requirements of modern Indian women. The account aims to empower women by offering premium banking facilities and exclusive benefits.

Key Features of the bob Global Women NRE & NRO Savings Account:

Customized debit card with enhanced transaction limits.
Complimentary access to domestic and international airport lounges.
Free safe deposit locker facility.
Complimentary personal and air accident insurance coverage.

Additional Details:

The account can be opened individually or jointly with another NRI/PIO.
Deposits must be made through fresh remittance from abroad or transferred from other NRE/FCNR (B) accounts, as per FEMA/RBI guidelines.
Interest rates will be applicable as per BoB’s savings account policies. For fixed deposits created through the Auto Sweep feature, the interest rate will be based on NRE term deposits for 12 months. However, no interest will be paid on FFDs maintained for less than 12 months.
Senior citizens, bank staff, and former staff members will not receive additional interest on their deposits.

This initiative by Bank of Baroda is a step towards financial inclusivity, offering women a more convenient and beneficial banking experience. With these exclusive privileges, the bank aims to provide enhanced financial security and better savings opportunities for women across the globe.