Bank of Baroda Revolutionizes Student Banking with the Launch of 'bob BRO Savings Account'

Mumbai: Bank of Baroda, a prominent public sector bank in India, has introduced the ‘bob BRO Savings Account’, a Zero Balance Savings Account tailored specifically for students aged 16 to 25. This account offers a customized banking program designed to meet the unique needs of students, featuring easy operation with no minimum balance requirement, a complimentary lifetime debit card, and various other benefits.

What is ‘bob BRO Savings Account’?

The bob BRO Savings Account extends exclusive perks to students, including no minimum balance, a concession of up to 15 basis points on interest rates for Education Loans, a complete waiver of processing fees on education loans, and a complimentary lifetime RuPay Platinum Debit Card with exclusive offers across diverse categories such as Electronics, Consumer Durables, Travel, Food, Fashion, Entertainment, Lifestyle, Grocery, and Health.

To engage with the youth demographic, Bank of Baroda has formed an exclusive partnership with Mood Indigo (Moodi), the annual student fest of IIT Bombay and Asia’s largest college cultural festival. Taking place from December 18th to 21st, 2023, Mood Indigo attracts college students nationwide.

Additionally, the bank has collaborated with Spotify for students attending Mood Indigo. Those who open a bob BRO savings account during the festival stand a chance to win a hamper of Spotify merchandise. Moreover, a new playlist, ‘Bank of Baroda x Mood Indigo,’ based on the festival’s performing artists, will be available for streaming on Spotify.

Shri Ravindra Singh Negi, Chief General Manager – Retail Liabilities & NRI Business at Bank of Baroda, emphasized that the bob BRO Savings Account is tailored to provide young adults with a richer, more personalized, and rewarding banking experience, addressing their specific needs and granting access to valued features and benefits. The account simplifies banking, facilitating the journey towards savings and financial independence for the youth.

Shri V G Senthilkumar, Head – Marketing & Branding at Bank of Baroda, highlighted the bank’s commitment to evolving and staying relevant in a changing landscape. The association with Mood Indigo aligns with the bank’s philosophy of building lasting relationships across generations.

Furthermore, Bank of Baroda has created an immersive Metaverse environment showcased at Mood Indigo. This environment allows students to explore various digital payment options through virtual and augmented reality.

Salient features of the ‘bob BRO Savings Bank Account’:

Zero balance savings account for the age group 16 years to 25 years
Lifetime Free RuPay Platinum Debit Card with attractive offers on leading brands
Complimentary Domestic Airport Lounge access (2 per quarter)
Free Personal Accident Insurance Coverup to Rs 2 lakh
Auto Sweep Facility available
Free NEFT/RTGS/IMPS/UPI through digital channels and branch
Unlimited free cheque leaves
Free SMS/Email Alerts
Up to 100% Concession in Demat AMC
Concessional Interest Rates on Education Loans with zero processing fee*
Exclusive Credit Card offers, subject to eligibility