Bank of Baroda: The minimum balance limit for Bank of Baroda accounts located in rural areas is Rs 500. The minimum balance limit for Bank of Baroda accounts located in semi-urban areas is Rs 1000.
Bank of Baroda: In terms of market cap, Bank of Baroda is the second largest government bank in India. The current market cap of Bank of Baroda is around Rs 1.14 lakh crore. Bank of Baroda has crores of customers across the country. If you are also a customer of Bank of Baroda, then this news is very important for you. Today we will know here how much minimum balance is required in your bank account as per the rules of Bank of Baroda. Let us tell you that in case of not maintaining the minimum balance in the account, the bank charges a penalty from the customers, which is deducted directly from the money deposited in the account.
There are different limits for accounts in different areas
Bank of Baroda has fixed the minimum balance limit for bank accounts according to different areas. The minimum balance limit for Bank of Baroda accounts located in rural areas is Rs 500. The minimum balance limit for Bank of Baroda accounts located in semi-urban areas is Rs 1000 and the minimum balance limit for Bank of Baroda accounts located in big cities like Delhi-Mumbai is Rs 2000. If you do not maintain the minimum limit set by the bank in your account, then the bank deducts the penalty amount directly from your account.
How much is the penalty for not maintaining the minimum balance
If you do not maintain the minimum balance limit on a quarterly basis in Bank of Baroda, then you have to pay a penalty. For accounts in metro and urban areas, this penalty is Rs 200, while for accounts in semi-urban areas, this penalty is Rs 100. That is, it is better that you maintain at least a minimum balance in your bank account, otherwise the bank will keep deducting the penalty amount from your account and you will keep getting troubled.
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