Bank of Baroda has decided to increase its minimum balance limit for savings account by 100 per cent. The bank’s the minimum balance limit has been increased from Rs 1,000 to Rs 2,000 for savings accounts in urban, metro and semi-urban branches. For savings accounts in the bank’s rural branches, the minimum balance limit has been increased from Rs 500 to Rs 1,000.
The new minimum balances will become applicable from February 1, 2019.With the merger of Vijaya Bank and Dena Bank with Bank of Baroda, it is likely that the new minimum balance rules for savings accounts will also be applicable for savings accounts in these two banks.
Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.