Bank announces Financial Results for quarter/year ended, 31st March 2023.
As per revised RBI directives all our Locker-holders are requested to visit Bank of Baroda, Base Branch.
With Bank Of Baroda personal loan, you get lowest interest rates, instant approval with minimal documentation. Checkout Bank of Baroda personal loan interest rates & eligibility. Apply now!
Apply for Bank of Baroda Home Loan online at the lowest interest rates. Checkout our home loan eligibility, interest rates, documentation. Get instant home loan approval. Apply now!
Car Loan: Apply for auto loan online by Bank of Baroda at an attractive interest rates & easy EMI option. Upto 90% financing on on-road price. Buy your dream car today!
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.
In Gold Monetization Scheme, gold is mobilized from households and institutions of the country to facilitate its use for productive purposes, and in the long run, to reduce country’s reliance on the import of gold. 102 Bank of Baroda branches (pan India) are authorized to accept gold deposit under Gold Monetization scheme 2015.
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Frequently Asked Questions (FAQs)
The Gold Monetization Scheme (GMS), which modifies the existing "Gold Deposit Scheme (GDS)" and Gold Metal Loan Scheme (GML), is intended to mobilise gold held by the country's households and institutions and facilitate its use for productive purposes, as well as to reduce the country's reliance on gold imports in the long run.
The Gold Monetisation Scheme allows gold depositors to earn interest on their bank deposit accounts. When gold is deposited into an account, it begins earning interest. Gold can be in any form, such as bullion or jewellery.
All Scheduled Commercial Banks, excluding RRBs are eligible to implement the Scheme.
Individuals, HUFs, Proprietorship & Partnership firms, Trusts, including Mutual Funds/Exchange Traded Funds registered under SEBI (Mutual Fund) Regulations, Companies, charitable institutions, Central Government, State Government, or any other entity owned by the Central Government or State Government are eligible to make deposits under the scheme. Joint deposits of two or more eligible depositors are also permitted under the scheme, and the deposit will be credited to the joint deposit account opened in their names. These gold deposits will be subject to the existing rules governing the joint operation of bank deposit accounts, including nominations.
The minimum quantity of deposits is pegged at 10 grams to encourage even small deposits.
Yes, the Principal is denominated in Gold (Grams) and Interest is denominated in INR. The Interest is paid in INR upon Maturity.
For MTGD the interest rate is 2.25% p.a.
For LTGD the interest rate is 2.50% p.a.
When a customer brings in gold (jewellery) to the bank, it will first be tested for purity and after the consent of the customer, it will be melted. A certificate by the collection centre will be given stating the amount and purity of gold which will have to be produced in the bank for opening the gold deposit account. The quantity of gold will be credited into the customer's account.
The jewellery is melted and converted into 995 fineness bars. The weight in 995 fineness is considered as the final quantity to be credited to the customer gold deposit account.
The main objectives of gold monetization scheme are:
Central government launched the scheme issued vide office Memorandum F.No.20/6/2015-FT dated September 15, 2015.
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