Bank of Baroda Introduces “bob Aspire” to Help Prospective NRIs Open NRE Accounts in India Pre-Departure Mumbai, 04 September 2025: Bank of Baroda, one of India’s leading public sector banks, announced the launch of the “bob Aspire NRE Savings Account” – a new savings product that allows Indian citizens moving abroad for business, employment, vocation or any other purpose indicating their intention to stay outside India for an extended period, to conveniently open an NRE account in India before departure.
The account will initially be opened in “inoperative mode” and becomes fully operational once the customer provides proof of overseas address and a passport copy with immigration stamp confirming NRI status.
Speaking at the launch, Smt. Beena Vaheed, Executive Director, Bank of Baroda, said the initiative reflects the bank’s commitment to customer aspirations and simplifies the NRI banking journey for students, employees and others. Key features of the bob Aspire account include no minimum balance charges for the first two quarters, thereafter a quarterly average balance of Rs. 10,000 with no upper limit on balances, exemption of income earned from income tax, exemption of balances from wealth tax, and a customised Debit Card with Airport Lounge facilities.
This product complements Bank of Baroda’s existing NRE/NRO offerings such as the Baroda Power Pack NRE Savings Account, bob Global Women NRE & NRO Savings Account and bob Premium NRE & NRO Savings Account.
The launch of bob Aspire represents a landmark change in the account opening process, offering ease and convenience to prospective NRIs even before they embark on their international journey.
