Baroda Zero Balance Saving Account (Government Parenthood Assistance Account)

• No Limit on number of Deposits
• No Minimum Balance
• No Cheque Book

No Debit Card / Internet Banking Facility

• Free e-Statement (Monthly Once)
• No minimum and maximum period
• Free paper withdrawals
• Free Passbook

• Parent would be named as the authorised signatory of your child’s Parenthood Assistance Account. Funds withdrawn should be only for the use your child’s Parenthood Assistance Account. Bank may ask to confirm in writing that you’re withdrawing money from your child’s Parenthood Assistance Account for the benefit of your child.

• Minor Child (Parental Assistance Account) will be opened in the name of your child as stated on the letter received by us from the Registrar of Births, Deaths and Marriages (Registrar).

Operations in the Account these guidelines to be read along side Zero Balance Savings Scheme

Once the $1,000 is received from the Fijian government for credit of Parenthood Assistance Account of your child

• you can withdraw up to $500;
• the account must have a balance of at least $500 at all times, until you give a letter confirming that your child has enrolled in Year 1 at primary school.
• You can deposit the amount in your's child parenthoood assistance account either by way of deposit In-Person at any of Branches in Fiji or may be transferrred to his account by Baroda Connect / Baroda Mconnect Plus / Fiji Clear or transfer from any one's account.
• Withdrawals can be made at any of branches of the Bank in Fiji
• No Charges or Fees will be applied in the account
• Interest will accrue on the balance of your Parenthood Assistance Account at the applicable interest rate that is applicable to Baroda Zero Balance Savings Scheme Interest rates may change at any time as decided by the bank from time to time.

As required under FTR Act & Customer Due Diligence

Customer to provide documents in support of following

Residents

• Name of Customer
• Permanent Residential Address in Fiji
• Date of Birth
• Occupation , Business , Service or Princial Activity
• Citizenship
• Source of Funds

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Non Residents / Non-Fiji Citizens

• Name of Customer
• Permanent Residential Address in Fiji
• Date of Birth
• Occupation , Business , Service or Princial Activity
• Citizenship
• Source of Funds
• Current and valid Passport or any other travel document issued by a foreign government or recognised international Organisation
• Current and valid Work, Business or Other Permit or Visa issued by the Fiji Immigration Department
• Current and valid Employment or Student Status Document issued by the Customer’s Employer or the Education Institute in Fiji.
• Any other document stipulated by regulatory agencies from time to time.

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For PEP Account (Following Information needs to be provided)

• Name of Customer in Full
• Details of Position holds lds or has held a senior government, political or military position
• Title of Position held
• If held in Past (From - Upto)

Compulsory Documents to be submitted

• Tax Identification Number (Tin Letter)
• A valid Joint Fiji Revenue and Customs Authority & Fiji National Provident Fund ID card
• Birth Certificate issued by the Births, Deaths & Marriages Registry.
• In case of married women, Marriage Certificate along with Photo Identity of the Groom & Address Proof is must, if Account is to be opened in name with Groom’s Name)
• Two Latest Colour Photograph
• Atleast -1- Document each from List A (FTR Regulations 8(1)) & List B (FTR Regulations 8(2)

• Interest is calculated and applied on monthly basis on the minimum balance maintained during the month.
• Interest is credited in the account at the end of every month.
• Resident Individual Withholding Tax (RIWT)/ Non Resident Individual Withholding Tax (NRIWT) will be applicable as per FRCS guidelines issued from Times to Time.

• The account will be classified to Dormant if there is no customer induced transactions in the account for 12 months. Once the account is classified as dormant, the customer induced transactions in the account are permitted on submission of written request by the customer to the branch where account is maintained along with personal ID, address proof and other documents required to fulfill KYC guidelines.
• No Charges will be levied for activation of Account
• For closure of account customer to request in writing to the branch where account is maintained.
• For Clarification or for any other information please contact any of your nearest branch.
• (Terms and Conditions apply)

Closure of Account these guidelines to be read along side Zero Balance Savings Scheme

• Once you give a letter confirming that your child is enrolled in Year 1 at primary school and your child’s Parenthood Assistance Account has a nil or debit balance,Bank may close your child’s Parenthood Assistance Account. Any accrued interest will be paid on the date of closure of that account.
• If after giving a letter confirming that your child is enrolled in Year 1 at a Primary school (Enrolment Letter) and your child’s Parenthood Assistance Account has a credit balance (including accrued interest), you agree to either:
• Withdraw the amount of that credit balance in the account; or
• "transfer the amount of that credit balance to either another account or an account at another bank within 3 months of you giving the Enrolment Letter."