Bank of Baroda

Bank of Baroda is one of the most prominent banks in India, having its total assets as Rs. 1,43,146 Crores as on 31st of March 2007 The bank was founded by Maharaja Sayajirao Gaekwad III( known as Shrimant Gopalrao Gaekwad) the then Maharaja of Baroda on 20th of July 1908 with a paid capital of Rs. 10 Lacs. From its introduction in a small building of Baroda, the bank has come a long way to achieve its current position as one of the most important banks in India

19th of July 1969, Bank of Baroda was nationalized by the Government of India along with 13 other commercial banks. As of March 2007, the bank had total deposits worth Rs. 1,24,915 Crores while it had a total number of 2956 branches located worldwide as on April 2009, out of which 626 were located in Metro cities, 524 in Urban areas, 642 in Semi-Urban locations, 1092 in Rural areas and 72 were located outside India. Bank of Baroda has its overseas branches located in 14 other countries Bank of Baroda had a total workforce of 38063 employees offering their services to the institution as of September 2006. Out of these, 13525 were Officers, 16497 were Clerks while 8041 were Sub-Staff members.

 Head Office Bank of Baroda Suraj Plaza-1, Sayaji Ganj, Baroda-390005

(2)Bank Of Baroda
Baroda Corporate Centre, Plot No - C-26, G - Block, Bandra - Kurla Complex, Bandra (East), Mumbai-400051

History

1990: BoB opened an OBU in Mauritius, but closed its representativeoffice in Sydney. 1991: BoB took over the London branches of Union Bank of Indiaand Punjab & Sind Bank (P&S). P&Ss branch had been established before 1970 and Union Banks after 1980. The Reserve Bank of Indiaordered the takeover of the two following the banks' involvement inthe Sethia fraud in 1987 and subsequent losses. 1992 BoB incorporated its operations in Kenya into a local subsidiarywith a small tranche of shares quoted on the Nairobi Stock Exchange. 1996: BoB Bank entered the capital market in December with anInitial Public Offering (IPO). The Government of India is still thelargest shareholder, owning 66% of the bank's equity.

 1997: BoB opened a branch in Durban.

1999: BoB merged in Bareilly Corporation Bank in another rescue. Atthe time, Bareilly had 64 branches, including four in Delhi.In Guyana, BoB incorporated its branch as a subsidiary, Bank of Baroda Guyana.
2001 Bank of Baroda proposes to go in for a major drive to expand its ATM network across the country.

Bank of Baroda is tying up with a US-based IT company to set up The basic IT infrastructure of the bank at a cost of Rs 300 crore. BANK of Baroda Housing Finance, a subsidiary of the Bank of Baroda,has disbursed a sum of Rs 50.0 crore to 2578 beneficiaries in rural And semi-urban areas under the golden rural housing schemes of the National Housing Bank. BoB has signed a redeployment policy with its Federation Union, affiliated to the National Confederation of Bank Employees (NCBE) regarding the transfer of clerical staff. 2006 Bank of Baroda (BOB) has informed that the Bank and Infrastructure Development Finance Company Ltd (IDFC) have on February 16, 2006, entered into a Memorandum of Understanding (MOU) to enhance the provision of financing and other banking products and services to entities involved in infrastructure development. The Bank of Baroda unveiled its first SME loan factory in Pune on Oct 13.

 2011 BoB hikes FD interest rates of diff maturities Bank of Baroda hikes Benchmark Prime Lending Rate (BPLR) & Base Rate 2012 Bank of Baroda hikes interest rates on domestic term deposits by up to 2.5% Bank of Baroda announced the reduction in home loan rates by 25 basis points across all the categories for both new and existince customers

 Products & Services

Foreign Currency Linked Rupee Deposits (FCLR) Scheme This deposit plan offers the dual advantage and benefits of both NRE Rupee Deposits and FCNR Deposits. Moreover, since the maturity value is determined in foreign currency at the time of application, the risk of losing money due to a fall in the exchange rate is eliminated.
Key Benefits

Option to keep the deposit receipt free of cost in Bank's safe custody. Intimation of due dates enable you to plan your finance portfolio. Automatic Renewal on due date for similar period at the prevailing rate of interest in the absence of fresh instructions to ensure that your money grows timely. Acceptance & execution of Standing Instructions. Addition and Deletion of name of account holders is permitted. Secrecy / confidentiality of your transactions and accounts are maintained. Your money stays secure with the bank. Provides for easy liquidity and convertibility. Provision for nomination.

Baroda Double Dhamaka NRE Term Deposit Scheme Product Specification Term Deposit Product wherein NRI depositor gets more than double of his initial deposit amount after a period of 7 years, 6 months and 5 days.

 Eligibility and Target Group

NRI individual in his own name NRIs jointly by more than one individual. NRIs jointly with resident with mode of operation as 'Former or Survivors' NRI Minor of age 10 and above on terms laid down by the Bank. Account in the name of minor with their father/mother as guardian

Minimum Deposit Amount Minimum Amount of Deposit Rs 5000/- further amount in multiples of Rs 1000 Period 7 years, 6 months and 5 Days Maximum Deposit Amount Less than Rs.1.00 crore Tax TAX Free Interest Repatriability Principal and interest accrued is FULLY Repatriable Pre-mature repayment Permitted with usual penalty clause. However, no interest shall be payable In case pre-mature repayment is requested before completion of 12 months Nomination Allowed Auto Renewal No auto renewal is envisaged under the scheme

 Availability of Loan/Overdraft Permitted up to 95% of outstanding balance at rate of interest 1.5% over the deposit rate with monthly rests for loan to self, 2% over the deposit or Base Rate plus 3.50%, whichever is higher in case of loan to third party (NonResident or Resident) Baroda Premium Non Resident External (NRE) Savings Bank Account A Saving Bank product with value added propositions and privileges to high value NRI customers. The product is available in all Indian branches. Non Resident Ordinary Rupee Savings Account (NRO-SB) Specific to NRI's, a NRO-SB account can be opened by remittance from abroad or by legitimate dues in rupees of the account holder in India. The existing domestic A/C of the Resident gets converted to NRO A/C on their taking up business/employment/immigration abroad. As per the Directives of Reserve Bank of India (dated 16th September 2003), Overseas Corporate Bodies (OCB) cannot have any non-resident accounts. Key Benefits

Close relatives (resident0 can become joint account holders Avail of remittance facilities Avail of Cheque Book facility Provision for nomination

 Terms & Conditions

The Principal funds are entirely non-repatriable while the interest is repatriable after deduction of tax at source. NRO FD/SB : 30.90% Withholding tax plus applicable surcharge/cess is applicable in NRO FD/SB accounts where DTAA is not applicable or the NRI depositor is not in a position to provide required documents/formalities for availing rebate in withholding tax. Surcharge is applicable @2.5% of TDS/Tax amount to Foreign Company if the Company has net income exceeding Rs.1/-crore. Interest rates on deposits Payable half-yearly (June & December). For current interest rates on deposit Resident Foreign Currency Account - for NRIs returning to India for settling in India Bank of Baroda offers remunerative deposit s for NRI's returning to India with the intention of permanently settling down here. All your existing repatriable accounts will be renamed as RFC ACCOUNTS. These accounts are maintained in US Dollars denomination. Ordinary Non- Resident Accounts Ordinary non-resident accounts will be converted to resident accounts by banks in India on return of the account holder to India and consequently becoming a legal resident of India. Non-Resident (External) Rupee Accounts NRE accounts will also be converted to resident rupee accounts or RFC accounts (if eligible) at the option in of the account holder on the return of the account holder to India and their becoming legal residents in India. In case of NR(E) Fixed Deposit, the accounts will continue to earn agreed rate of interest till maturity even after these being converted to resident account. FCNR Accounts FCNR accounts will be converted to resident rupee accounts or RFC account (if eligible) at the option of the account holder on the return of the account holder to India and their becoming residents in India. In case the account is converted to resident rupee account, the foreign currency amount will be converted to Indian Rupees at TT buying rate ruling on the day of conversion. Interest on the new deposit would be payable at the relevant rate applicable on such deposit.

Baroda Term Deposit Bank of Baroda is pioneer in providing NRI services in the financial and banking sector. In yet another customer centric initiative, Bank has launched a deposit scheme for investors with interest rates at 25-30 bps over the interest rate swap (IRS) rates for 3,4 and 5 years period of term deposits. The deposit scheme has been designed keeping in view the needs of NRI customers and understanding their requirements for deployment of funds with higher return. The Baroda Term deposit is offered at Banks major overseas centres excluding USA. The rate of interest on this deposit is better than rate currently offered in the market.

Loan Facilities Baroda Home Loans to NRIs / PIOs

Bank of Baroda presents yet another innovative product in the form of Baroda Home Loans to NRIs / PIOs, a unique housing loan facility designed specially for Non Resident Indians (NRI) and Person of Indian Origin (PIO) Key Benefits

A loan product tailor-made for NRI / PIO needs Free personal accident insurance. No pre payment / foreclosure charges

Baroda Mortgage Loan Bank of Baroda brings to you an innovative combination of a loan and over draft facility with flexible repayment options against the security of your immovable property. Key Benefits

Ideal use of idle property - Generate additional income from an otherwise idle property. Withdraw money as per your need and save on interest cost.

Deposit surplus money / regular income / salary and save interest. Flexibility to withdraw money deposited earlier. Can be availed either as overdraft or demand loan as per your need.

Features

Limit: Minimum : Rs. 1 lac

Maximum areas
o o

Rural areas: Rs. 5 Lacs Other areas: Rs. 100 Lacs

Repayment
o

Loan: Maximum 84 EMIs

Terms & Conditions

Salaried Employees / Professional, Self Employed & Other income tax assesses for last 3 years with a minimum gross annual income of Rs. 60000. Age: Minimum 21 years Income Criteria:

Salaried: 30 times of gross monthly income Others: 3 times of average (last 3 years) annual income

Baroda Education Loan Education is the most important investment one makes in life. Higher studies and specialization in certain fields call for additional financial support from time to time. Whether you are planning school education (nursery to standard XII) of your child, pursuing a graduate or post-graduate degree, the Bank of Baroda Education Loans, can help finance your ambitions and goals Baroda vidhya Baroda Gyan Baroda Scholar Loans Against FCNR (B) Deposits in Rupees

Unlock the hidden potential of your fixed deposits with us with this plan developed specifically for providing loans/overdraft against their security of Foreign Currency denominated fixed deposits placed with us. Avail of credit facilities for the following purposes.(as per Reserve Bank of India guidelines).The loans/Overdrafts shall be in non-repatriable Indian Rupees. PURPOSE:

For personal purposes or for carrying on business activities except for the purpose of re-lending or speculative purposes or carrying on agricultural/plantation activities or for investment in real estate business. Repayment shall be made either by adjustment of the deposit or by fresh inward remittances from outside India through normal banking channels. The loan can also be repaid out of local rupee resources in the NRO account of the borrower. For making direct investment in India on non-repatriation basis by way of contribution to the capital of Indian firms/companies subject to compliance with the provisions of the Foreign Exchange Management (Transfer of Indian security by a person resident outside India) Regulations, 2000 and Foreign Exchange Management (Investment in proprietary or a partnership firm) Regulations, 2000. For acquiring a flat/house in India for his own residential use subject to the provisions of the relevant Regulations made under the Act of Reserve Bank of India.

 DESCRIPTION This card is affiliated with Visa international and accepted worldwide. ELIGIBILITY Individual : Annual income of Rs. 1,50,000. FEATURES Revolving credit : up to Rs. 25,000 FEES: Membership / Joining Fee Rs.200/- (Renewal Fee on Principle card Rs.400, Add-on: Free Upto 3 Add-ons) Late Payment Charges Rs.100/Cheque Return Charges (w.r.t. chq. amt) 2% or min. Rs.200/In newly Issued & Renewed cards only Personal Accident Insurance facility will be provided to the cardholders w.e.f. 1st July, 20 DOCUMENTS NEEDED a) Income proof : IT Form 16/IT return/ Salary Slip b) Address proof c) Photograph d) Copy of PAN card e) Min. 3 months Bank Statement All documents to be self attested) All documents to be verified from nearest Bobcards Area Office / Bank of Baroda Branch In case of account holders of Bank of Baroda, submission of the application through the concerned branch of Bank of Baroda is recommended for expeditious processing of application.

 DESCRIPTION This card is welcomed at over 70 million Merchant Establishments and more than 1 million ATMs worldwide. This card is affiliated with MasterCard International and is very popular amongst the Bobcards holder. ELIGIBILITY Individual : Annual income of Rs. 2,00,000 or more. FEATURES Revolving credit : Rs. 40,000 onwards. (The company has the right to issue cards with lower limits also with a min. limit of Rs.25,000) FEES: MemberShip / Joining Fees Rs.350/- Renewal Fee for principle card Rs.750/-* Add-on : free upto 3 add-ons Late Payment Charges Rs.100/Cheque Return Charges (w.r.t. chq. amt) 2% or min. Rs.200/ No Renewal Fee For Next Year DOCUMENTS NEEDED a) Income proof : IT Form 16/IT return/ Salary Slip b) Address proof c) Photograph d) Copy of PAN card e) Min. 3 months Bank Statement (All documents to be self attested) All documents to be verified from nearest Bobcards Area Office / Bank of Baroda Branch In case of account holders of Bank of Baroda, submission of the application through the concerned branch of Bank of Baroda is recommended for expeditious processing of application. BILLING 1st of every month, a bill will be sent to the cardholder at his/her given address for making payments on or before the due date mentioned in the bill.

 DESCRIPTION BOBCARD Gold is affiliated with MasterCard International & valid throughout the world. It is globally accepted over 70 million locations and more than 1 million ATMs worldwide. BOBCARD presents these premium cards to offer its gratitude to the High Net worth Individuals. Exclusively designed, these cards are packed with great features and benefits. So, get your Gold MasterCard today and be a part of the evolution. Its features offer you the freedom you deserve and the convenience you desire. Not to mention the extra benefit of insurance it offers -Accidental Insurance and Baggage Insurance. What's more, you can withdraw cash up to 20% of credit limit from our area offices/ BOB/ATM's. ELIGIBILITY Individual : Annual income of Rs. 3,00,000 or more. FEATURES Revolving credit : Rs. 75,000 (The company has the right to issue cards with lower limits also with a min. limit of Rs.50,000/-) DOCUMENTS NEEDED a) Income proof : IT Form 16/IT return/ Salary Slip b) Address proof c) Photograph d) Copy of PAN card e) Min. 3 months Bank Statement (All documents to be self attested) All documents to be verified from nearest Bobcards Area Office / Bank of Baroda Branch In case of account holders of Bank of Baroda, submission of the application through the concerned branch of Bank of Baroda is recommended for expeditious processing of application. BILLING 1st of every month, a bill will be sent to the cardholder at his/her given address for making payments on or before the due date mentioned in the bill.

 DESCRIPTION The youth of our nation is truly the dynamic force around which our society and commerce is revolving. Not surprisingly, the youth demands only the best. Be it in terms of career or lifestyle. As a tribute to this undying force, BOBCARDS now presents Exclusive Youth Card packed with features designed to support them even more in terms of convenience and financial independence. This card is welcomed at over 70 million Merchant Establishments and more than 1 million ATMs worldwide. This card is affiliated with MasterCard International and is very popular amongst the Bobcards holder. ELIGIBILITY Individual : Annual income of Rs. 2,00,000 or more. FEATURES Revolving credit : Rs. 40,000. (The company has the right to issue cards with lower limits also with a min. limit of Rs.25,000) FEES: MemberShip / Joining Fees Rs.350/- Renewal Fee for principle card Rs.750/- Add-on:free upto 3 add-ons Late Payment Charges Rs.100/Cheque Return Charges (w.r.t. chq. amt) 2% or min. Rs.200/ BILLING 1st of every month, a bill will be sent to the cardholder at his/her given address for making payments on or before the due date mentioned in the bill.

 DESCRIPTION BOBCARD Platinum is affiliated with MasterCard International & valid throughout the world. It is globally accepted over 70 million locations and more than 1 million ATMs worldwide. BOBCARD presents these premium cards to offer its gratitude to the High Net worth Individuals. Exclusively designed, these cards are packed with great features and benefits. So, get your Platinum MasterCard today and be a part of the evolution. Its features offer you the freedom you deserve and the convenience you desire. Not to mention the extra benefit of insurance it offers -Accidental Insurance and Baggage Insurance. What's more, you can withdraw cash up to 30% of credit limit from our area offices/ BOB/ATM's. ELIGIBILITY Individual : Annual income of Rs. 7,00,000 & above. FEATURES Revolving credit : Rs. 1,00,000 (The company has the right to issue cards with lower limits) Cash withdrawal: 30% of credit limit. Service charge on revolving credit limit : 2.5% (i.e. 30% APR) Service charge on Cash withdrawal : 2.5% or Rs.100 whichever is higher Service Charge on ATM Cash withdrawal : 2.5% or min. Rs.100(Domestic), 3% or min. Rs.150(Abroad).

 DESCRIPTION BOBCARD Exclusive Woman Card is a tribute to the glorious women of India who are acclaimed for their contributions to the human civilization. BOBCARDS presents this Card to offer its gratitude to the great women souls of the land. This card is welcomed at over 70 million Merchant Establishments and more than 1 million ATMs worldwide. This card is affiliated with MasterCard International and is very popular amongst the Bobcards holder. ELIGIBILITY Individual : Annual income of Rs. 2,00,000 or more. FEATURES Revolving credit : Rs. 40,000. (The company has the right to issue cards with lower limits also with a min. limit of Rs.25,000) Eligibility: 1.Minimum 10 transactions on card in a year, irrespective of the transaction amount. 2.Regular minimum payment - In case of irregularity of payment of 2 consecutive months, the card account would be considered as default; hence this offer would stand withdrawn. In newly Issued & Renewed cards only Personal Accident Insurance facility will be provided to the cardholders w.e.f. 1st July, 2009 DOCUMENTS NEEDED a) Income proof : IT Form 16/IT return/ Salary Slip b) Address proof c) Photograph d) Copy of PAN card e) Min. 3 months Bank Statement (All documents to be self attested)* All documents to be verified from nearest Bobcards Area Office / Bank of Baroda Branch

In case of account holders of Bank of Baroda, submission of the application through the concerned branch of Bank of Baroda is recommended for expeditious processing of application. (Issuance only in BOBCARDS serviceable areas as per the network of area offices) BILLING 1st of every month, a bill will be sent to the cardholder at his/her given address for making payments on or before the due date mentioned in the bill.

DESCRIPTION This credit card is affiliated with Visa International & valid throughout the world on over 70 million establishments & more than 1 million ATMs. It can only be applied by a corporate. ELIGIBILITY Individual : Not applicable. Company : Turnover of Rs.1 crore or more. Paidup Capital: Rs.10 Lacs Minimum Networth Rs.30 Lacs FEATURES Revolving credit : up to Rs.3,00,000