Bank announces Financial Results for quarter ended, 30th June 2023.
NOTIFICATION DATED 27.06.2023 FOR SALE / ASSIGNMENT OF FINANCIAL ASSET (NPA) to ARCs (E-AUCTION ON 14.07.2023)
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Open Current Account online at Bank of Baroda to meet all your banking needs. Go to our website to learn more about the different types of current accounts we offer and apply now!
Bank of Baroda deposit plans offer convenient solutions to both working individuals as well as senior citizens. These deposits are categorised into deposits with a term period of less than 12 months, more than 12 months and recurring deposits.
An account for all. B3 Silver Account comes with maximum savings and zero Quarterly Average Balance (QAB). Also, make the most of coins and annual offers from Loyalty Rewardz to fulfill yearlong subscriptions and shopping.
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Bank of Baroda focuses on its employees, offering a career rather than just a job. Various initiatives are in place to groom employees throughout their life cycle. A comprehensive talent management system to groom future leaders of the bank.
Bank of Baroda offers various types of personal banking cards such as Credit, Debit, Prepaid, Business & Travel Cards. Choose the one best suited card for your needs.
08 Jun 2018
A day before the Reserve Bank of India's (RBI) monetary policy review, Bank of Baroda has announced that it has hiked its marginal cost-based lending rate (MCLR) by 5 basis points with effect from 7 June, 2018. Bank of Baroda is the latest lender to raise rates in the past few days.
Just last week, State Bank of India, ICICI Bank, Kotak Mahindra Bank, and Union Bank of India all raised rates.
According to the Bank of Baroda's filing with the Bombay Stock Exchange's filing, MCLR
Effective from June 7, 2018 will be as follows:
Recently, SBI has hiked the MCLR rate by 10 basis points just a couple of days before the monetary policy across all tenors. Similarly, PNB has also hiked MCLR rate by 5-10 basis point for the selected tenors.
In the private sector, Kotak Mahindra Bank has also raised its MCLR. The bank's one year MCLR rate now stands at 8.90 percent.
An increase in MCLR would normally translate into increase in interest payable by borrowers unless the bank reduces its margin on loans to absorb this increase.
Clearly, new home loan borrowers hoping for some reduction in interest rates and thereby in their EMI burden need not to wait anymore.
For existing borrowers, the hike in MCLR will impact their EMIs when the reset dates arrive for their loans. The reset date is set by between the bank and the borrowers as per the loan agreement which is usually 6 months or one year. The future EMIs (till next reset date) are calculated on the basis of the MCLR rate plus margin effective on the reset date.
According to RBI's mandate, all loans including home loans taken after April 1, 2016 are to be linked with MCLR. The banks are free to ask for a mark-up over and above the MCLR. However, the rate charged on the loans cannot be less than the MCLR.
(“The Bank”) established on 20th July 1908 is a State-owned banking and financial services organisation, headquartered in Vadodara (earlier known as Baroda) in Gujarat, India.
Bank of Baroda is India’s leading public sector bank with a strong domestic presence supported by self- service channels. The Bank’s distribution network includes 8,200+ branches, 10,000+ ATMs, 1,200+
self-service e-lobbies and 20,000 Business Correspondents. The Bank has a significant international presence with a network of 100 branches/offices of subsidiaries, spanning 20 countries. The Bank
has wholly owned subsidiaries including BOB Financial Solutions Limited (erstwhile BOB Cards Ltd.), BOB Capital Markets and Baroda Asset Management India Ltd. Bank of Baroda also has joint ventures
for life insurance viz. IndiaFirst Life Insurance Company Limited and India Infradebt Ltd., engaged in infrastructure financing. The Bank owns 98.57% in The Nainital Bank. The Bank has also sponsored
three Regional Rural Banks namely Baroda Uttar Pradesh Gramin Bank, Baroda Rajasthan Gramin Bank and Baroda Gujarat Gramin Bank.
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