Incentives

Commission / Remuneration of BC/ VLE in Bank of Baroda

S.N	Activity	Remuneration
1	Savings Bank Account Opening (Including Capturing of Biometrics and demographic data)	Kiosk VLE- Rs. 20 per account PoS BC- Rs 10 per account
2	Recurring deposit account opening	Rs. 5 per account subjected to maximum Rs 25 per customer id at a time
3	Fixed Deposit	Rs. 5 per thousand subjected to maximum Rs 25 per customer id at a time
4	Cash Handling Charges	0.40% of the amount of cash transaction processed by the BC. No charges will be paid for round tripping of transactions.
5	Remittance/Fund transfer services	Rs. 10/- per transaction. The remittance charges would fix-up by bank for the customers from time to time. No splitting of remittance amount for earning more fees would be acceptable and in any such case total of all split transactions would be treated as a single transaction for calculating your fees/charges.
6	Fixed Charges	Rs. 2500/- per month per BC location for initial period of 6 months.
7	Balance enquiry/mini statement	No charges
8	Overdraft/Retail Loans canvassed (except OD allowed in SB account)	0.5% of the loan amount sanctioned subject to minimum of Rs.25 and maximum of Rs.5000, 50 % of the amount payable shall be paid after the first disbursement of the loan and the rest 50% shall be paid 1 year thereafter if the account continues to be standard asset till then.
9	E-KYC	Rs 5 per account
10	Pradhan Mantri Jeevan Jyoti Bima Yojna	Rs 30 to BC
11	Pradhan Mantri Suraksha Bima Yojna	Rs 1 to BC
12	Atal Pension Yojana Applicable up to 31.03.2016	Rs 60
13	SHG and JLG - For formation and promotion including credit linkage	Not exceeding Rs 1000 per SHG/ JLG formed and credit linkage with Bank in stage as under: For stationery and overhead expense – Rs 300/- 4 months after saving linkage - Rs 300/- Immediately after credit linkage Rs 400/-
14	Aadhaar Seeding (applicable up 31.12.2015)	Rs 3 per account
15	For mobilizing deposits in SB accounts (Atleast 1000 a/cs, out of which 90% should be funded)
	Average weekly balance	Incentive in percentage term
	Upto 25 lacs	NIL
	Above 25 lacs and upto 40 lacs	0.50%
	Above 40 lacs and upto 60 lacs	1.00%
	Above 60 lacs	1.50%
16	Incentive for follow up, recovery in NPA/ PWO accounts	NPA accounts-  2% of recovered amount PWO accounts- 10% of recovered amount
17	For maintaining asset quality Note: payable only when 90% of the accounts assigned to the BCs are regular	Incentive is 1% of the amount of loan account assigned to BC for follow up and recovery where the account is standard and regular at the end of the year i.e., after 12 months.