Bank of Baroda

WikiFX | 2022-09-26 22:17

Abstract：Bank of Baroda is an Indian international banking and financial services company headquartered in Mumbai, India, and is the second-largest bank in India after the State Bank of India. Initially established in 1908, Bank of Baroda was subsequently nationalized by the Government of India on July 19, 1969, along with 13 other major commercial banks in India and designated as an operating public sector undertaking (PSU). Bank of Baroda opened its first branch in Calcutta in 1937, a branch in Delhi in 1949, its first overseas branch in Mombassa, Kenya in 1953, started its operations in London in 1957, opened 19 regional rural banks in 1976. Bank of Baroda Became one of the first state-owned banks to pass a public equity capital market offering in 1996. In 2007, Bank of Baroda partnered with India's Infoline Association to provide an online platform for trading equity derivatives and established a mutual fund joint venture with Italy's Pioneer Investments-Baroda Pioneer Asset Management Comp

General Information

Bank of Baroda is an Indian international banking and financial services company headquartered in Mumbai, India, and is the second-largest bank in India after the State Bank of India. Initially established in 1908, Bank of Baroda was subsequently nationalized by the Government of India on July 19, 1969, along with 13 other major commercial banks in India and designated as an operating public sector undertaking (PSU). Bank of Baroda opened its first branch in Calcutta in 1937, a branch in Delhi in 1949, its first overseas branch in Mombassa, Kenya in 1953, started its operations in London in 1957, opened 19 regional rural banks in 1976. Bank of Baroda Became one of the first state-owned banks to pass a public equity capital market offering in 1996. In 2007, Bank of Baroda partnered with India's Infoline Association to provide an online platform for trading equity derivatives and established a mutual fund joint venture with Italy's Pioneer Investments-Baroda Pioneer Asset Management Company Ltd. Bank of Baroda launched “Baroda M-Connect,” a mobile banking application for mobile banking transactions in 2011. In 2020, Bank of Baroda inaugurated its IT Mumbai center and launched BarodaINSTA SmartTrade. Bank of Baroda currently holds a full FCA license in the UK, with regulatory number 204624.

Products & Services

Bank of Baroda offers different products and services for personal, business, NRI, rural, and agriculture. Bank of Baroda's financial products and services for individuals include savings accounts, cash current accounts, fixed deposits, home loans, vehicle loans, personal loans, education loans, gold loans, mutual fund investments, Baroda E-Trade 3-in-1 accounts, life insurance, general insurance and standalone health insurance, Whatsapp banking, merchant solutions, smart banking, Fast banking, and Fast banking. Whatsapp banking, merchant solutions, smart banking, Fastag e-fee system, startup banking, supply chain finance, and much more. Bank of Baroda's products and services for business include savings, loans, and advances for small and medium-sized businesses, loans and advances for wholesale banks, and foreign exchange services. Bank of Baroda provides financial services to non-residents of India, such as deposits, loans, depository services, and remittances to India. Bank of Baroda provides financial services such as small and medium enterprises (MSME) loans, lockers, pensions, agricultural loans, credit cards, etc., for rural & agricultural purposes.

Rates & Fees

Bank of Baroda offers 2.80% (7 to 45 days), 3.70% (46 to 180 days), 4.30% (181 to 270 days), and 4.90% (1 year) for domestic and NRO time deposits (up to 20 million rupees). For more information, please refer to the official website of the Bank of Baroda. Bank of Baroda for foreign exchange-related fees: export pre-remittance for each Rs. 200, the issuance of related certificates for each certificate for Rs. 100, the issuance of NOC and other banks discounted export bills for each waybill 1000, 00, the issuance of GR exemption certificate for each certificate for Rs. 500. Service charges for lockers: Rs. 1500 for Type A lockers (urban) and Rs. 900 for suburban/rural. More details of rates and charges are available on the official website.

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