Bank of Baroda unveils bob Aspire for NRIs to open NRE Accounts in India Pre-Departure

Mumbai, 09 September 2025: State-run Bank of Baroda has launched the “bob Aspire NRE Savings Account,” a new savings product that will allow Indian citizens moving abroad for business, employment, vocation, or any other purpose that indicates their intention to stay outside India for an extended period to conveniently open an NRE savings account while still in India, prior to their departure.

With a customer-first mindset, bob Aspire caters to the banking requirements of prospective Non-Resident Indians (NRIs), offering a simple and hassle-free account opening experience before leaving the country.

The account will be opened in “inoperative mode” and become fully operational upon submission of overseas address proof and a copy of the passport with an immigration stamp confirming their NRI status.

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Key Features and Benefits of the bob Aspire NRE Savings Account

• Customers can open the bob Aspire NRE Savings Account in India before leaving for abroad.

• No minimum balance charges for the first two quarters.

• Quarterly Average Balance of Rs. 10,000 applies thereafter, with no upper limit on account balances.

• Income earned in the account is exempt from income tax and balances are exempt from wealth tax.

• Customised Debit Card with Airport Lounge facility and many more benefits.

Bank of Baroda offers a comprehensive suite of NRE/NRO savings account options to meet the diverse needs of its NRI customers. These include the Baroda Power Pack NRE Savings Account, the bob Global Women NRE & NRO Savings Account, the bob Premium NRE & NRO Savings Account, and the newly launched bob Aspire NRE Savings Account.

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