This big government bank finished the minimum balance charge on savings account, reduced interest on home loan

Bank of baroda Has made a big announcement. The bank has abolished the minimum balance charge charged for not having minimum balance in the savings account. The bank has implemented this rule from July 1, 2025. However, the bank will continue to charge its premium savings bank accounts. These premium accounts include BOB Master Stroke SB account, BOB Super Savings Account, BOB auspicious savings etc.

Charge will still have to be paid on these accounts

Let us tell you that 19 premium savings bank accounts are introduced by the Bank of Baroda and there will be a minimum fee for not maintaining the minimum balance in any of these accounts. For example, the minimum balance amount is ₹ 1 lakh in terms of Bob Sawyer Women Savings Account, if not there is a charge of ₹ 50 (except GST) in the metro city. In the case of Bob Master Stroke SB account, the minimum balance amount will be ₹ 5 lakh, for not doing so, a minimum fee of ₹ 200 will be levied. The minimum balance of Bob Super Savings Account is ₹ 20,000 and the minimum balance is ₹ 50.

Home loan cheaper

Bank of Baroda has reduced the home loan interest rate from 8% to 7.50%. This decision has been taken after the rate cut by RBI in June. This new rate is implemented with immediate effect and will only apply to new customers. The bank has also provided digital and branch-based application options. Customers can apply for home loan through the bank’s website or nearest branch. The bank has made it further simplified by making the application process completely digital. Bank of Baroda is one of the major public sector banks of India, which serves more than 165 million customers in 17 countries.

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