Bank of Baroda launches Masterstroke Savings Account for high-end customers

New Delhi: Bank of Baroda (BoB) on Monday launched the ‘Bob Masterstroke Savings Account’ for high-end customers even as it announced cricket legend Sachin Tendulkar as its global brand ambassador.

The public sector bank said the new savings bank account is designed especially for clients desiring premium services. Customers have to maintain a quarterly average balance of ?10 lakh in the account.

“The bob Masterstroke account comes with some features such as a higher interest rate on account balances through the Flexi Fixed Deposit facility, concessional rate of interest on retail loans, the bob World Opulence Visa Infinite Debit Card (Metal Edition), and a lifetime-free Eterna Credit Card (subject to eligibility),” the bank said in a statement.

The account holders will also receive priority banking/wealth management consultations, higher cash withdrawal limits, and other exclusive perks, it added.

Referring to the deposit growth challenge currently being faced by banks, BoB MD & CEO Debadatta Chand observed that to grow deposits, a bank needs to be innovative in designing products and providing the best-in-class service.