Bank of Baroda Masterstroke LITE Savings Bank Account

What is the bob Masterstroke LITE Savings Bank Account?

bob Masterstroke LITE Savings Bank Account is a bob savings account tailored to the needs of customers who wish to enjoy premium services while maintaining a high minimum balance requirement. Through the account, customers can enjoy cashback or discounts on various purchases, access to airport lounges and premium debit cards, among a lot more benefits. It can become one of the best savings account options for individuals comfortable with the high minimum balance.

Features and Benefits of bob Masterstroke LITE Savings Bank Account

The bob Masterstroke LITE Savings Bank Account has various features that provide a customised experience to its account holders.

• EMT Platinum Debit Card: An EMT Platinum Debit Card is issued to all account holders free of charge. The annual fee for the card is also waived for this account.
• Discount on Purchase: You can get a discount while shopping on platforms like Amazon and Swiggy. There are discounts on hotel, airline and movie bookings too.
• Lower Forex Markup: bob Masterstroke LITE Savings Bank Account can be considered as a suitable savings account in India with benefits like a 1% decrease in forex markup on overseas transactions.
• Preferential Loan Rate: Customers with bob Masterstroke LITE Savings Bank Account can get a 0.10% reduction on the interest rate of retail loans. Another 50% reduction on the processing fee of home loans and mortgage loans is also available.
• Insurance Benefit: Account holders will get air accident insurance cover of ₹50 lakhs and personal accident and permanent disability cover of up to ₹10 lakhs.
• Sweep Facility: When your savings account balance reaches a predetermined limit, the excess amount is transferred automatically into a fixed deposit account to earn a better rate of interest.
• Locker Rent: Annual local rent at a fixed discount of ₹750, subject to availability.
• Credit Card: First account holder in case of joint account is eligible for lifetime free ETERNA Credit Card subject to bank’s terms and conditions.
• Online Banking: bob has various online banking channels which customers can use for bob balance check and obtaining mini statements, among other functions.

Eligibility Criteria and Documents Required

The document requirements for an individual, an NRI or a joint account differ slightly. The given details are the general documents needed to open an account.

• Customers who are 18 years and above can open an account.
• Documents like Aadhaar, passport, driving license with photo, and visa to prove your address and identity.
• PAN card or Form 60.

How to Open bob Masterstroke LITE Savings Bank Account

An applicant can open their account through a bank branch, Regional Loan Business Office(RLBO), bobWorld, or internet banking. While the account opening process may differ slightly across channels, it generally involves the following steps:

• Application Form: Fill in your personal details and contact information.
• Documents: Ensure that you have all the required documents.
• KYC Verification: The bank verifies your documents and details.
• Initial Deposit: Make the initial deposit according to the bank’s rate.

Fees and Charges for bob Masterstroke LITE Savings Bank Account

Some mandatory fees and charges to open a bob Masterstroke LITE Savings Bank Account are outlined in the table below.