Bank of Baroda offers cheapest Home Loan in industry
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