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Our Bureau

Hyderabad , June 21

AIMED at meeting the needs of premium business customers, Bank of Baroda (BoB) has announced the test launch of the `Baroda Premium Current Account' (BPCA) here on Monday.

Addressing a press conference, the BoB General Manager (South), Mr V.B. Lal Saksena, said the BPCA holders would enjoy a host of benefits such as free chequebook, credit card, demand draft, personal accident insurance and other facilities that were hitherto not available.

According to Mr Saksena, individuals, partnership companies, limited companies and large corporate houses excluding banks and financial institutions can become BPCA holders.

After a study conducted in various Indian cities, the bank has zeroed in on four cities including Hyderabad for the test launch of BPCA product. The others are Ludhiana, Indore and Ahmedabad.

The Chairman of Tirupati Tirumala Devasthanams (TTD) and MP, Dr T. Subbarami Reddy, unveiled the product in Hyderabad. The product would be shortly launched countrywide, Mr Saksena said.

The product has two variants - BPCA with a minimum average quarterly balance (AQB) of Rs 1 lakh and BPCA-Privilege with a minimum AQB of Rs 3 lakh. Both the customers would be entitled to free monthly statements, use of any branch banking, telephone banking and Internet banking facilities and BoB Card (two partners or directors in case of companies). They can also enjoy discount of 25 per cent on dematerialisation and custodial charges (up to two directors or partners in case of companies and authorised Managing members in case of other bodies).

In addition, the BPCA-Privilege holders can enjoy free demand draft, bankers cheque and collection of outstanding cheques.

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