Bank of Baroda, one of India’s leading public sector banks, today announced the launch of a comprehensive Current Account Package with seven new differentiated Current Account products. Each current account product has been specially curated to meet the specific business banking needs of different business segments, empowering customers and giving a boost to their businesses. The new Current Account package was unveiled at an event at the Bank’s Corporate Office by the MD & CEO, Shri Debadatta Chand in the presence of the Bank’s Executive Directors, CVO and Ms. Shafali Verma, Indian Cricketer and the Bank’s Brand Endorser.
The newly launched bob Current Accounts are: bob Lite (aimed at individuals/sole proprietorships/small businesses), bob Women Power (for women entrepreneurs), bob Smart (aimed at businesses largely conducting digital transactions), bob Gold (for medium-sized businesses) and bob Platinum, bob Rhodium, and bob Diamond (for large businesses having high transactional requirements).
These accounts come with features and value-added services based on the chosen account such as higher anywhere cash deposit limits, free Sound box with QR code and POS machine (with zero monthly rental), a bundled collateral-free overdraft facility with the current account, curated Baroda Cash Management Services for the higher account variants, in addition to lower monthly average balance requirements.
Speaking on the occasion, Shri Debadatta Chand, Managing Director & CEO, Bank of Baroda said, “Recognising the ever-evolving banking needs of various types of businesses on their growth journey, and aspiring to be their banking partner, Bank of Baroda is introducing a new suite of cutting-edge current accounts packed with features and benefits designed to make banking more rewarding for our customers. We have analysed our customer base and conducted an extensive product segmentation exercise, which inspired us to launch a range of differentiated products in the market targeting different business segments. The new range of bob Current Accounts will ably support our customers’ growth plans.”
“The newly launched current account products have been meticulously designed to meet the dynamic requirements of businesses and individuals alike. They not only offer exceptional value but also position Bank of Baroda as the preferred choice for customers seeking innovative, competitive and tailored financial solutions. In addition, these initiatives are geared towards growing our low-cost deposits and increasing our market share,” Shri Chand added.
Other benefits include a lifetime free corporate credit card (subject to eligibility) for the current accountholders, discounts on processing charges on retail loans (including home, auto, education and mortgage loan) and discounted demat account facility.
In tandem with this launch, Bank of Baroda has also comprehensively revamped its three existing current account products – bob Advantage, bob Premium, and bob Supreme, making them more competitive and attractive.