Bank of Baroda (BoB) yesterday launched a ‘current account’ package with seven new differentiated current account products. Each current account product has been curated to meet the specific business banking needs of different business segments, empowering customers and giving a boost to their businesses, a statement from the bank notified.
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), the statement said.
It added that 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.
Debadatta Chand, Managing Director and CEO, Bank of Baroda, said in the statement, “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 targetting different business segments. The new range of bob current accounts will ably support our customers’ growth plans.”
