Bank announces Financial Results for quarter ended, 30th September 2023.
Bank of Baroda (UK) Ltd announces its intention to wind down and close its UK retail banking activities
Visit our website https://www.bankofbarodauk.com/ for any further information.
NOTIFICATION DATED 27.06.2023 FOR SALE / ASSIGNMENT OF FINANCIAL ASSET (NPA) to ARCs (E-AUCTION ON 14.07.2023)
As per revised RBI directives all our Locker-holders are requested to visit Bank of Baroda, Base Branch.
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Why should finance come in the way of future? Getting an education loan is an easy way to finance your dreams. A student loan can help you get into the university of your choice. Bank of Baroda is here to finance your dreams, education & career goals.
The easiest way to save for you, for your loved ones, and for your future. A savings account gives you the liberty to choose according to your needs and additionally give you benefits for all your transactions. With a gamut of savings account features on the table, Bank of Baroda is here to make your banking simple and easy!
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.
Opt for Safe Deposit Lockers and get multiple benefits.
Stop storing too much jewellery and valuables in the house! Bank of Baroda provides you with Safe Deposit Lockers - a safe, trustworthy space to store your valuables, jewellery, documents and other things dear to you. Bank safety lockers dodge security issues that are impediment in case of natural calamities.
* Condition Apply
Safe Deposit Locker Annexure-I
Safe Deposit Locker Annexure-II
In case where the deceased locker hirer/depositor of the articles under safe custody had not made any nomination or clear survivorship clause, the access may be provided to the legal representative of the deceased based on Succession Certificate or Probate of a WILL or Letter of Administration.
The Renter/Lessee and depositor of safe custody articles are advised that access to locker/safe custody articles may be given to survivor(s)/nominee(s) only as a trustee of the legal heirs of the deceased locker hirer/depositor of safe custody articles on the condition that such access if given to survivor(s)/nominee(s) shall not affect the right or claim which any person may have against the survivor(s)/nominee(s) to whom the access is given.
When annual locker rental is up to Rs. 3000
Rs. 200 p.m. or part thereof for first 3 months and Rs. 50 p.m. thereafter.
When annual locker rental is above Rs. 3000
Rs. 500 p.m. or part thereof for first 3 months and Rs. 100 p.m. thereafter.
Charges for lockers operation more than 12 times a year
Rs. 100 per occasion
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Frequently Asked Questions (FAQs)
Bank locker facilities, which are safe deposit boxes that let customers store their valuables and important items safely, are one of the ancillary services that banks offer to their clients.
A "Lessor and Lessee" (Licensor and Licensee) relationship exists between the bank and the person who hired the locker. The person who rents a safe deposit box is the lessee, and the bank is the lessor (licensor). No illegal or dangerous items may be kept in the safe deposit box by the locker-hirer(s). Each year, locker rent must be paid. If the locker rent is paid in advance for three years, locker renters will receive a 10% discount. Locker rent charges are collected in advance. In the event of the surrender of a locker by a customer, the proportionate amount of advance rent collected shall be refunded to the customer.
After meeting the requirements of the Global KYC-AML-CFT Policy of the Bank (as updated from time to time) and subject to ongoing compliance, customers may open a safe deposit locker facility. In accordance with CDD requirements, he or she should be asked to open a savings or current account. No matter what rights or capacities any given customer may have when renting a locker, due diligence must be done.
With effect from June 20, 2019, the following are the locker service fees charged by the bank (exclusive of GST):
Class of Locker
Metro / Urban
Semi-Urban / Rural
Only legal uses, such as the safekeeping of valuables like jewellery and important documents, are permitted for bank lockers.
Bank lockers are only meant to be used for legal reasons, such as keeping valuables like jewelry and important papers safe. They are not meant to be used to keep money or cash.
The area where the locker facility is located is properly secured to deter thieving break-ins. Entry and exit to the locker room/vault shall be through a single, clearly marked point. If necessary, the location where the lockers are kept can be made sufficiently secure to guard against the risk of flooding or rainwater getting in and causing damage to the lockers. Additionally, it's important to evaluate and reduce the area's fire hazard risks. CCTV cameras may be used to record the entrance and exit to the strong room as well as the common areas of operation. Keeping priceless jewellery and important documents in bank lockers is thought to be the safest option.
(a) Weapons, explosives, drugs, or other illegal substances; or
(b) Any perishable, radioactive, illegal, or otherwise hazardous material; or
(c) Any substance that might endanger the Bank or any of its clients or pose a hazard to them.
After meeting the requirements of the Global KYC-AML-CFT Policy of the Bank (as updated from time to time) and subject to ongoing compliance, you may use the safe deposit locker facility.
In accordance with CDD requirements, they should be asked to open a savings or current account. All customers, regardless of their rights or roles in renting the locker, must undergo due diligence.
One unique aspect of the locker is that the locks installed in them have dual control, meaning that only two keys—one belonging to the hirer and the other to the branch company's locker custodian—can be used to open them. However, once it is opened, the locker can be locked with just the hirer's key; the custodian's key is not required.
The safest place to keep priceless jewelry, critical documents, and certificates is thought to be a bank locker.
According to the Banking Regulation Act of 1949 and the Banking Companies (Nomination) Rules of 1985/Co-operative Banks (Nomination) Rules of 1985, a nomination facility must be provided for safe deposit boxes.
If the key to the bank-provided locker is lost by the locker-hirer, the customer (who is also the locker-hirer) must notify the branch right away. Additionally, the customer may agree to hand the branch the key if it is ever discovered locked in the future. The hirer may be held liable for any fees associated with opening the locker, changing the lock, and obtaining a replacement key.
The branch is free to transfer the contents of the locker to the hirer's nominees or legal heirs or dispose of the items in a transparent manner, as the case may be, if the locker is inoperable for a period of seven years and the locker-hirer cannot be found. This applies even if rent is being paid on time.
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