Bank of Baroda
Bank of Baroda

Bank of Baroda

An Indian state-owned banking and financial services company, Bank of Baroda is headquartered in Vadodara in Gujarat. It is the second largest bank in India, and constitutes the Big Four Banks of India along with ICICI Bank, State Bank of India, and Punjab National Bank. Founded on 20 July 1908 by Maharaja H.H. Sir Sayajirao Gaekwad III, this bank was nationalized on 19 July 1969 by the Government of India. It has been designated as a profit-making public sector undertaking (PSU). It has a corporate office in the Bandra Kurla Complex in Mumbai.

About Bank of Baroda

In its international expansion, the bank has to its credit, 106 branches/offices in 24 nations. Amongst its overseas branches are ones in the world’s major financial centres (e.g. New York, London, Dubai, Hong Kong, Brussels, and Singapore). This does justice to its tagline, “India’s International Bank”. What’s more, Bank of Baroda is slated to open offices in the Maldives and New Zealand. Bank of Baroda financial services also plans to extend its operations in many more countries, while already enhancing its presence in the United Kingdom, the United Arab Emirates, and Botswana.

Vision and Mission:

In its journey of almost a century, Bank of Baroda has established a saga of vision, enterprise, financial prudence, and corporate governance. Ordinary bankers with their extraordinary contribution have catapulted this bank to its current position of glory. Its story encompasses millions of people – customers, stakeholders, employees, and the public at large, who have all contributed in the holistic advancement of the institution. The mission statement of Bank of Baroda is to be a top ranking National Bank of International Standards with an unfaltering commitment to augment stakeholders’ value through concern, care and competence.


Bank of Baroda loan schemes have been designed carefully, putting customers’ needs and preferences as the priority. One can apply for easy Bank of Baroda loans under a number of categories based on the individual requirements of the borrower. Some of the loans are as follows:

  1. Bank of Baroda Home Loan: Bank of Baroda offers easy home loans with an array of convenience measures to suit different budgets. Be it the purchase of new/old dwelling unit or construction of house, Baroda home loan has a repayment period up to 30 years. Amongst the benefits that the bank offers include, free credit card with a loan limit of Rs. 2 lacs and above, a concession of 0.25% in the interest rate for car loans, and few others. The maximum age by which the loan should be fully repaid is 70 years. 

 In accordance with the Baroda pre-approved home loan scheme, the borrower is provided an in-principle approval for a home loan prior to identification of a specific house/flat/plot. The customer is thus allowed greater flexibility in negotiations with builders/sellers. The income details of the prospective applicant will determine the loan eligibility, as per the prevailing guidelines of Home Loan Scheme to Resident Individuals or NRI/PIO/OIC. 

Bank of Baroda also brings to you a one-of-its-kind loan product- Baroda Home Improvement Loan, for repairs/renovation/improvement/extension of the existing house. Under this scheme, one can get a maximum loan of Rs. 50 lacs, with the repayment period being a maximum of 15 years. This loan is also available for purchase of furniture, fixtures, furnishing, or other gadgets such as fans, geysers, air conditioners, etc. Bank of Baroda Home Loan advantage entails that the applicant gets a free credit card (complementary for first year) with a loan limit above Rs. 2 lacs. 

The bank also brings for its customers another innovative financial product- Baroda Home Loans to NRIs/PIOs, a unique housing loan facility specially tailored for Non Resident Indians (NRI) and Person of Indian Origin (PIO). Its key benefits include free personal accident insurance, and zero prepayment/foreclosure charges. The borrower should be of minimum 21 years of age. Any NRI holding Indian passport or PIO holding foreign passport, singly o jointly, is eligible for this type of home loan. He/she must be employed/self-employed or have a business unit and staying abroad for at least 2 years. Also, the applicant’s minimum gross annual income should be equivalent to Rs. 5 lacs per annum. 

Bank of Baroda loan interest rates are not the only attractive feature; the borrower can also get the home loan sanctioned linked with his/her Savings Bank account, with zero rate of interest applicable on this account. Under the purview of this scheme, the applicant can opt to deposit all his savings in the linked SB account to avail maximum benefit of interest in the Home Loan account. The eligibility for this loan will be calculated as per the existing guidelines of Baroda Home Loan to individuals and Baroda Home Loan to NRI/PIO. 

  1. Bank of Baroda Personal Loan: This loan comes handy when you need financial help to meet your personal requirements – be it a wedding, an extended vacation, a medical emergency, and so on. The key benefit of Baroda personal loans is that, it aids you in taking care of all kinds of expenses at a short notice. It is also available to Pensioners/Defense Pensioners. The beneficiaries of this loan can be permanent confirmed employees (with a minimum service of 1 year), self-employed professional (doctors, architects, interior designers, engineers, chartered accountants, etc.), or insurance agents. The minimum loan amount is Rs. 20,000 while the maximum limit is Rs. 2 lacs, though the figures are subject to conditions. The repayment period extends up to 36 months. However, the bank does not levy any pre-payment charges, though a penalty of 2% on overdue amount has to be paid. 

Bank of Baroda Business Loan: the bank offers various loans and advances for business purposes, which include, working capital finance, term finance, MSME, Baroda SME loan pack, Baroda Vidyasthali Loan, Baroda Arogyadham Loan, Baroda Laghu Udhyami Credit Card, Baroda Artisans Credit Card, Baroda Weavers Credit Card, Composite loans, SME short term loans, SME medium term loans, Baroda SME Gold Card, and others.

Talk to Our Experts

Enable updates through WhatsApp