Bank of Baroda has launched the ‘bob BRO’ savings account – a zero-balance savings account for students aged 16 to 25 years. The account provides students access to a banking programme that is customised to meet their specific needs, and is easy and straight-forward to operate, with no minimum balance requirement, a life-time complimentary debit card and a number of other benefits, according to a statement from BoB.
The statement said that the account offers no minimum balance, up to 15 basis points interest rate concession on education loans, complete waiver of processing fee on education loans and a life-time free RuPay Platinum debit card with exclusive offers on top brands in categories such as electronics, consumer durables, travel, food, fashion, entertainment, lifestyle, grocery and health.
To tap the youth, the bank has tied up with Mood Indigo (Moodi), IIT Bombay’s annual student fest, added the statement.
Ravindra Singh Negi, Chief General Manager – Retail Liabilities and NRI Business, Bank of Baroda, said in the statement, “Today’s youth are looking for a richer, more personalised and rewarding experience with their bank, backed by safety and service. The bob BRO Savings Account introduces young adults to the world of banking with a tailor-made product offering that takes care of their specific banking requirements and gives them access to features and benefits that they value the most. bob BRO makes banking simple, enabling them to start their journey towards savings and financial independence with ease.”
