Bank of Bar­oda of­fers cheap­est Home Loan in in­dus­try

Business Sphere - - BANK OF BARODA - By Our Cor­re­spon­dent

Bank of Bar­oda, one of the lead­ing pub­lic sec­tor banks in In­dia of­fers the cheap­est home loan rates for best rated cus­tomers across dif­fer­ent cat­e­gories. The bank of­fers home loans at One Year MCLR (Mar­ginal Cost of funds based Lend­ing Rates), which is cur­rently at 8.30%. This rate is ap­pli­ca­ble ir­re­spec­tive of the to­tal home loan amount and is avail­able for ten­ure up to 30 years for all cat­e­gories i.e. salaried / self em­ployed. In April, 2016, Bank of Bar­oda be­came the first bank to link the in­ter­est rates on home loans to the credit score of the bor­row­ers. Since then, the bank has con­sis­tently of­fered home loans at in­ter­est rates that have ei­ther been the low­est or at most com­pet­i­tive rate. Bank was pi­o­neer in re­duc­ing its home loan rates in Jan­uary, 2017 and other banks fol­lowed the suite. The bank does not add any mark-up on its MCLR for its best rated home loan bor­row­ers. The low­est rate of in­ter­est cur­rently of­fered by the other pub­lic sec­tor banks, is ap­pli­ca­ble only to small cat­e­gory of cus­tomers, such as salaried wo­man seek­ing a loan of less than Rs 30 lac. How­ever a male en­tre­pre­neur with pris­tine credit rat­ing seek­ing a home loan of more than Rs 75 lac may end up pay­ing a rate of in­ter­est of 8.50% and above at other banks. Mr. Ashok Ku­mar Garg, Ex­ec­u­tive Direc­tor, Bank of Bar­oda said, “Bank of Bar­oda is a cus­tomer cen­tric bank, most com­pet­i­tive in the in­dus­try. The bank de­cided to of­fer home loans at one year MCLR for its best rated cus­tomers. With the new dig­i­tal ex­pe­ri­ence and quick turn-around time, we aim to be­come the most ag­ile bank in re­tail loan cat­e­gory.”

Bank of Bar­oda cel­e­brates the Vig­i­lance Aware­ness Week

Bank of Bar­oda is ob­serv­ing Vig­i­lance Aware­ness Week from 30th Oc­to­ber 2017 to 4th Novem­ber 2017 at all the branches/ ad­min­is­tra­tive of­fices all over In­dia.

This year the theme of Vig­i­lance Aware­ness Week is “My vi­sion – Cor­rup­tion free In­dia” Mr. Mayank K Me­hta, Ex­ec­u­tive Direc­tor ad­min­is­tered In­tegrity Pledge to all the staff at Bank’s Head Quar­ter at BKC, Mumbai, on 30th Oc­to­ber, 2017. Bank’s Ex­ec­u­tive Di­rec­tors Mr. A. K Garg and Mrs. Papia Sengupta and Mr. S K Choudhury, GM (HR), read out the mes­sages re­ceived from the Hon’ble Pres­i­dent of In­dia, the Hon’ble Vice-Pres­i­dent of In­dia and the Chief Vig­i­lance Com­mis­sioner on the oc­ca­sion of Vig­i­lance Aware­ness Week. To in­crease aware­ness, Bank has or­ga­nized var­i­ous out­reach ac­tiv­i­ties - com­pe­ti­tions, quiz, de­bates, work­shops, gram sab­has, street plays, dis­play posters, ban­ners, in­volv­ing var­i­ous col­leges/in­sti­tu­tions, me­dia pub­lic­ity through­out In­dia. Bank has also pro­vided e-por­tal for taking in­tegrity e-pledge for all cit­i­zens & Or­gan­i­sa­tions through the web­site “bankof­bar­oda.com “and wide pub­lic­ity is be­ing given through its 5500+ Branches ,10000+ ATMs and IVR Sys­tem . Good re­sponse is be­ing re­ceived from the staff/pub­lic sat­is­fy­ing the noble ob­jec­tives be­hind ob­ser­vance of the Week.

Bank of Bar­oda in­au­gu­rates new ecofriendly Head Of­fice – Bar­oda Bha­van

Bank of Bar­oda, In­dia’s in­ter­na­tional bank, in­au­gu­rated its new ecofriendly Head Of­fice build­ing, the Bar­oda Bha­van in Var­o­dara on Sun­day, Oc­to­ber 22nd at the hands of Honourable Prime Min­is­ter of In­dia, Shri Naren­dra Modi, who un­veiled the new struc­ture. The oc­ca­sion was graced by Shri Vi­jay Ru­pani (Honourable Chief Min­is­ter of Gu­jarat), Shri Nit­inbhai Pa­tel (Honourable Deputy Chief Min­is­ter), Mrs. Ran­jan­ben Bhatt (Mem­ber of Par­lia­ment), Shri Bharat Dan­gar (Mayor of Vado­dara) along with the MD & CEO of Bank of Bar­oda, Mr. P.S. Jayaku­mar. The Bank’s Ex­ec­u­tive Di­rec­tors namely, Mr. Mayank Me­hta, Mr. Ashok Ku­mar Garg and Ms. Papia Senguta also joined the dig­ni­taries on the dais. The au­gust gather­ing in­cluded top of­fi­cials and val­ued cus­tomers of the Bank also with em­i­nent cit­i­zens. This new ed­i­fice ex­pands over 1.45 lakh sq.ft. and em­ploy­ees mod­ern ecofriendly tech­niques like so­lar pan­els, rain-water har­vest and op­ti­mal us­ages of nat­u­ral lights in the work area. The ar­chi­tec­tural struc­ture and the in­te­rior de­sign of this new build­ing com­bine state-of-theart tech­nolo­gies with the rich cul­tural her­itage of Vado­dara. The Bank will soon move all its im­por­tant cor­po­rate func­tions into this head of­fice. It is note­wor­thy that Bank of Bar­oda, which is one of In­dia’s lead­ing banks, was es­tab­lished by the fa­ther of mod­ern day Vado­dara and a vi­sion­ary, Ma­haraja of Bar­oda, Sir Saya­ji­rao Gaek­wad III in 1908. This new Head Of­fice, is not only pres­ti­gious for the Bank, but will also help the Bank to pro­vide faster and su­pe­rior ser­vices to its cus­tomers. It will con­trib­ute in the de­vel­op­ment of Gu­jarat and the en­tire coun­try.

Mayank K Me­hta, Ex­ec­u­tive Direc­tor ad­min­is­tered In­tegrity Pledge to all the staff at Bank’s Head Quar­ter at BKC

Ashok Ku­mar Garg, Ex­ec­u­tive Direc­tor, Bank of Bar­oda

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