Bank of Baroda launches current account opening, pre-approved personal loan through tablet - India Blooms

03 Dec 2019

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The bank has consistently been working towards innovative digital offerings and “Current Account Opening” and “Pre Approved Personal Loan” are part of digital transformation journey.

The Bank of Baroda has embarked upon digitizing its current account customer on-boarding process through tablets for instant account opening. The aim is to provide superior banking experience and ease of on-boarding customers over traditional channels.

This facility is available for sole proprietorship and individual current account holders and further will be extended to partnership and limited companies which is a unique offering in the industry.

The facilities of pre-approved personal loan under the digital product “Baroda Tabit” is available to existing saving bank account holders of the bank and loan limit is decided based on various parameters that includes balance, transactions and credit worthiness, Bank of Baroda Executive Director Murali Ramaswami said. 

About Bank of Baroda Bank of Baroda

(“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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