B a 3ifm aster Bank of Baroda BCC:BR:111:109 Dated 27.02.2019 Circular to all Branches / Offices in Ind [ Issued by Liabilities & Deposit Mobilization Department, BCC, Mumbai ] Dear Sir, Re: Baroda-Expat Saving Account- SB-179 Expatriates are foreign nationals who are staying in a country other than their country of origin, They are employees who are working at overseas offices of parent company. Over the last decade India has become a preferred destination for expats and exponential growth has been registered in the no. of expats residing in India. To address the banking needs of India based Expatriates, we are happy to launch niche segment specific saving product for Expat namely “Baroda Expat Saving Bank Account”- SB-179. Expats can open Baroda Expat Saving Bank Account only with any “B” category AD branch in India provided they furnish requisite KYC documents. The foreign national is required to furnish copies of the following documents to open the bank account: Valid foreign passport. Valid Indian VISA & it should be a long-term visa with more than 182 days validity. Copy of Foreigners Registration Office (FRO) permit. Immigration endorsement Overseas address proof Indian address proof Passport-size photograph Copy of PAN Card/Form-60 A letter from employer or letter of contract. FATCA The product is available only at any “B” category AD branch. AD Branches to ensure that VISA expiry is captured compulsorily through MRCR menu while creating customer ID. VVVVVVVYVY Salient features of the scheme are as following:- 1. The account can be opened by Expatriates residing in India (Other than citizens of Pakistan & Bangladesh who require prior approval of RBI to open account) Only “B” category/AD authorized branches can open the account under the scheme. No minimum Balance is required Joint account is not allowed VISA Platinum Chip Debit Card is issued to the account. No Issuance and Annual Charges on Debit Card @anon Liabilities & Deposit Mobilization, BCC, Baroda Sun Tower, C- 34, G-Block, Bandra Kurla Complex, Bandra (E), ‘Mumbai 400051, india ‘Tel.GM: 022-6698 1696, Dopt.- 6698 1540/3701/3277. Fax : 022 ~ 6698 3279 ra Yo o-mal ark 2 snkofbaroda.comB de 3ifm agit Bank of Baroda 7. Auto Sweep Facility is available on specific request 8. Free SMS alerts 9. Nomination in account will be compulsory 10.Change in scheme code should be allowed only for change of status under this category of account (NRO-SB301) once status of expat changes from resident to NRO. No other scheme code change will not be allowed. 14.Account will be freezed for operation beyond resident permit, however expat can convert the account to NRO status when he/she goes back to his own country after expiry of resident permit 12. All transactions in the account will be governed by applicable FEMA guidelines. Point to remem! “» This account is especially for foreign nationals who came to India on working VISA of more than 182 days. + NRO Saving Account under scheme code ‘SB-308 will be opened for foreign nationals who are coming to India on tourist VISA and duration of that NRO account cannot be more than 180 days. ¢ Individual Saving Account will be opened for foreign students who are coming to India for studying in Indian College/Universities. Suggestive Action Points for Branches: * Branch Head to hold a staff meeting and appraise the members about salient features of the scheme. ‘» Publicity material such as Banner/Poster/leaflets will be made available by Corporate Marketing Department is to be invariably displayed prominently by the Branches. “> Branches should follow applicable FEMA guidelines for repatriation of funds. “> These accounts are highly sensitive in nature. Therefore branches should follow strict KYC compliance & enhanced due diligence. ¢ Branches to ensure conversion of existing accounts of Expat into new scheme code subject to fulfillment of KYC guidelines. The detailed scheme document of the product is enclosed for ready reference. We trust that branch will reap benefits of this product. Wishing you all the best in your endeavours. Yours faithfully lb (Dr. Jawahar Karnavat) General Manager Liabilities Deposit Mo! Encka/a ization, OL & LRC eatenB aap 3iim aster Bank of Baroda Baroda Expat SB Account Sr. | Parameter Baroda Expat SB Account No. 1 | Eligibility ‘* The account can be opened by Expatriates residing in | India (Other than citizens of Pakistan & Bangladesh who | require prior approval of RBI to open account) on Individual basis | 2 | Eligible Branches ~ Only “B” category/AD authorized branches can open the hs account under the scheme oa Minimum QAB balance * Zero t '@ interest Rate (on credit balance [+ As per extant guidelines of Bank applicable to SB in account) accounts * Upto Rs. 50 Lakh : 3.50% | «Above Rs. 50 Lakh : 4.00% 5 | Cheque book * 60 free cheque leaves in a financial year * Charges will be levied @ Rs. 5/- per leaf thereafter 6 | Age * -18- years and above 7 | KYC documents Valid foreign passport + Valid Indian visa (it should be a long-term visa: valid for more than 182 days) | * Copy of Foreigners Registration Office (FRO) permit | + Immigration endorsement | * Overseas address proof 2 + Indian address proof * Passport-size photograph + Copy of PAN Card/ Form-60 | + Aletter from employer or letter of contract L * _FATCA 3 8 | NEFT/RTGS/IMPS (outward and |+ Free from ADC’s(Mobile Banking/Net Banking) | inward) * Charges to be levied as per extant guidelines in case of branch transaction for NEFT/RTGS 9 | Debit Card, ATM Card (annual [+ VISA Platinum Chip Debit Card fees, limits) + No Issuance and Annual Charges 10 | Auto sweep facility * Available on request | + Auto transfer of funds exceeding Rs.100000/- to short deposit with a minimum of Rs. 10000/- for 181 days and | | auto retransfer to the account from short deposit, in case | funds are required in the Savings Bank account in multiple of Rs. 1000/- 1 Lilies & Deposit Mobilization, BCC, Baroda Sun Tower, C- 34, Glock, Bandra Kurla Complex, Bandra), 43 ‘uma #0008, naa v3 TeL.oM: 022-6698 1595, Dept- 6696 1540/270113277. Fax: 022 6698 3279 buB da 3if aster bantot Ranyee 11 | Standing Instruction- within Allowed branch [42 | SMS and email alerts Allowed free [43 | E-Statements Allowed free | (14° | Nomination facility Nomination will be compulsory 15 | Addition of names in Accounts Not allowed | as Joint Name, __| 16 | Freezing of account beyond Account will be freezed for operation beyond resident resident permit permit however expat can convert the account to NRO status when he goes back to his own country after expiry | of resident permit 17_| Cash Deposit Cash deposit will be not allowed 8 | Change in scheme code of Change in scheme code should be allowed only for account change of status under this category of account (NRO- | $B301) once status of expat changes as NRO from | resident. Other scheme code change will not be allowed. 19 | Transferability of Account Transferability of account is allowed subject to submission of all the KYC documents in new branch. 20 | Other Features All other features and charges if any as per the existing General Savings Bank accounts | All other rules like service charges on inoperative | accounts, payment of interest, etc. governing Savings | Bank Accounts shall also apply to these accounts | mutatis mutandis unless otherwise specified The Bank reserves the right to add, alter or delete any | rules of the scheme/s at its absolute discretion at any | time, without previous notice to the depositor and it is | | understood and agreed that the depositor will be bound | by such rules prevalent from time to time 27 | FEMA Rules All transactions in the account will be governed by applicable FEMA guidelines. Liabilities & Deposit Mobilization, BCC, Baroda Sun Towor, C- 34, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai 400051, India Tol.GM: 022-6698 1595, Dept.- 6698 1540/2701/3277. Fax: 022-6698 3279