BOB Minimum Balance – Updated Guide on Charges & Rules

1. From July 1, 2025, standard savings account holders no longer have to worry about BOB Minimum Balance penalties; the charges have been removed.
    

2. You can avoid balance-related fees by using simple tools like the BOB World app, SMS alerts, or missed call services to keep track of your account balance.
    

3. Small steps like setting alerts, enabling auto-sweep, or switching to a zero-balance account can help you save ₹500–₹1,000 every year without much effort.

Bonus Point: From July 1, 2025, Bank of Baroda removed minimum balance penalties on standard savings accounts, making banking easier and more affordable for regular customers.

Many people lose money in hidden bank charges like BOB Minimum Balance, a fee applied when you don’t keep the required amount in your account monthly.

Let’s understand it with the help of an example:

Let’s say Anjali, a 26-year-old graphic designer from Pune, didn’t know she had to maintain ₹2,000 in her BOB urban savings account. Her balance dropped to ₹500, leading to an ₹85 penalty. This repeated for three months, costing her ₹255. She now uses balance alerts on the BOB app to avoid future BOB Minimum Balance penalties.

She now uses balance alerts on the BOB app to avoid future BOB Minimum Balance penalties. In this blog, we’ll explore everything you need to know about BOB Minimum Balance rules, penalties, account types, smart tips, and more.

Understanding what BOB Minimum Balance means can help you avoid fines. It refers to the lowest amount you must keep in your account daily or monthly, depending on the account type.

Key Reasons Why BOB Minimum Balance Exists:

This table highlights the key reasons why BOB and other banks expect customers to maintain a minimum balance.
 

By understanding this table, you can see how the rule supports both the bank’s services and the customer’s benefits.

Minimum Balance Penalty Rules in BOB

When customers fail to keep the minimum required amount in their account, Bank of Baroda applies a non-maintenance penalty. This charge is deducted automatically from the account.

Let’s say Rajeev, a shopkeeper in Bhopal, had to maintain ₹1,000 in his semi-urban BOB account. During March 2025, his balance dropped to ₹200, leading to a ₹60 penalty. This happened for three months, costing him ₹180. Using the BOB mPassbook app could have prevented these charges.

BOB Minimum Balance Penalty Slabs

This table shows how BOB Minimum Balance penalties differ by location and how much the account falls short.
 

Knowing these charges helps you take small steps, like reminders, to avoid big losses over the year.

How to Check Your BOB Minimum Balance?

BOB makes it easy for customers to check their balance through digital tools. You don’t need to visit the branch every time. Knowing your balance helps avoid penalties.

Let’s say Sana, a college student in Chennai, faced a failed ₹2,000 UPI transaction when her BOB account had only ₹1,100. Since then, she checks her balance weekly using the BOB mobile app to avoid minimum balance penalties.

Ways to Check BOB Minimum Balance

This table lists the fastest and easiest ways to know your account balance without visiting the bank.
 

By using these services regularly, you can easily keep track of your balance and avoid BOB Minimum Balance penalties.

Tips to Avoid BOB Minimum Balance Charges

While tools can help, small day-to-day choices can also keep you above the required balance. Following these tips can stop the monthly charge from affecting your savings.

Let’s say Nisha, a homemaker from Nagpur, saved ₹240 in six months by using balance alerts and a UPI wallet after attending a BOB workshop. Earlier, she paid ₹40 monthly due to low balance penalties.

Common Mistakes That Lead to Penalties & How to Fix Them

This table shows how everyday actions may unknowingly lead to BOB Minimum Balance penalties and what simple steps can fix them.
 

A few changes in your banking habits can help save ₹500–₹1,000 annually, especially if you follow this advice carefully.

Conclusion

BOB Minimum Balance is not meant to trouble customers. It helps keep your account active and supports free services like UPI, ATM, and SMS alerts. But if you don’t maintain it, you may get charged. By using balance alerts, mobile apps, or choosing zero-balance accounts, you can avoid these charges easily. Just keep track of your balance, and your account will stay safe and simple to use.

FAQs:

1. Is there any way to permanently avoid BOB Minimum Balance charges?
Yes, you can permanently avoid BOB Minimum Balance charges by opening a zero-balance savings account or switching to one, if eligible. These accounts do not have any minimum balance requirements.

2. Can I get a refund for BOB Minimum Balance penalties already deducted?
Usually, BOB does not refund minimum balance penalties once deducted. However, you can contact customer care or visit your branch if the deduction was due to a technical error.

3. Does enabling auto-sweep help in avoiding BOB Minimum Balance penalties?
Yes, enabling the auto-sweep facility helps maintain a required balance by automatically transferring extra funds into fixed deposits and back when needed, reducing chances of penalties.

4. Are students and senior citizens exempt from BOB Minimum Balance rules?
In some cases, Bank of Baroda may offer relaxed minimum balance rules or zero-balance accounts for students and senior citizens. It's best to check with your local branch for eligibility and account type.

Apply for Loans Fast and Hassle-Free

Apply Now

About the Author

LoansJagat Team

‘Simplify Finance for Everyone.’ This is the common goal of our team, as we try to explain any topic with relatable examples. From personal to business finance, managing EMIs to becoming debt-free, we do extensive research on each and every parameter, so you don’t have to. Scroll up and have a look at what 15+ years of experience in the BFSI sector looks like.