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Bank of Baroda rolls out 'Khushiyon ka Tyohaar' as the Festive Season begins
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  • Attractive offers on Home Loans – no processing charges & Car Loans at special rate of 7.95% with quick disbursal digitally
  • Introduces a Digital Lending campaign with seamless processing to make availing loans easier
  • Attractive Interest Rates on Baroda Tiranga Fixed Deposits

MUMBAI, India, Sept. 27, 2022 /PRNewswire/ --  As the festive season begins, Bank of Baroda (Bank), one of India's leading public sector banks, today announced the launch of Khushiyon ka Tyohaar – its annual festive campaign with a range of offers for customers. With attractive interest rates on home loans and car loans, in addition to waiver/ discount on processing charges and other benefits, this is the opportune time for customers to avail a loan to buy their dream home or car or avail a personal loan.

Bank of Baroda Home Loans  are available at a competitive interest rate beginning at 7.95% p.a. with no processing charges.

Bank of Baroda Car Loans are being offered at a special rate starting from 7.95% p.a. – a 25 basis points concession. In addition, under Khushiyon ka Tyohaar, customers will also receive a number of other benefits such as no pre-payment/ part payment charges, concessional processing charges and a longer repayment tenure of seven years.

Shri Ajay K. Khurana, Executive Director, Bank of Baroda said, "The festive season is about to commence, which is an auspicious time for all of us. After a couple of tough years, we expect to see a significant surge in festive demand as people get ready to celebrate the occasion with renewed enthusiasm and gusto. With Khushiyon ka Tyohaar, our aim is to support our customers with attractive offers to fulfil their aspirations and make the celebrations even sweeter."

Further, to give customers a quick, convenient and smart way to avail loans for a variety of purposes and make the most of the festive season, the Bank also launched a Digital Lending campaign with a range of digital loans to choose from. These include Pre-Approved Personal Loan, Personal Loan, Auto Loan, Home Loan, Education Loan, Mudra Loan, MSME Loan, Gold Loan and the Baroda Kisan Credit Card (BKCC). Both existing and new customers are eligible to apply and the loans can be availed via the bob World mobile app, net banking and the Bank of Baroda website.

In addition to the festive offers on loan products, customers also have the opportunity to earn higher interest with the Baroda Tiranga Deposit  scheme. This is a special fixed deposit that offers higher interest rates. The Baroda Tiranga Deposits are available in two tenor buckets – offering interest rates of 5.75% p.a. for 444 days and 6.00% p.a. for 555 days. Further, senior citizens earn an additional interest rate of 0.50% p.a., while Non-Callable Deposits above Rs.15 lakh will get 0.15% p.a. extra. The Baroda Tiranga Deposit scheme is available throughout the festival season and closes on 31.12.2022.

The Bank has also introduced B3 Digital only Savings Account which can be opened by customers sitting at their home through video KYC and avail attractive offers.

About Bank of Baroda

Founded on 20th July, 1908 by Sir Maharaja Sayajirao Gaekwad III, Bank of Baroda is one of the leading commercial banks in India. At 63.97% stake, it is majorly owned by the Government of India. The Bank serves its global customer base of over 150 million through over 46,000 touchpoints spread across 17 countries in five continents. Through its state-of-the-art digital banking platforms, it provides all banking products and services in a seamless and hassle-free manner. The recently launched bob World mobile app provides customers with a saving, investing, borrowing, and shopping experience, all under one single app. The app also serves non-customers by enabling account opening through video KYC. The Bank's vision matches its diverse clientele base and instills a sense of trust and security. It is moving well in that direction and bob World is a testimony of its roadmap towards Digital Transformation.

APPENDIX

Offer Details*:

  • Home Loans
    • Interest rates starting at 7.95% p.a.
    • Zero processing charges
    • Flexible tenure up to 360 months
    • No Pre-payment/Part-payment charges
    • Door step service at major centres
  • Car Loans
    • Interest rates starting at 7.95% p.a.
    • No Pre-payment/Part-payment charges
    • Flat processing fee of Rs 1500/- + GST
    • Longer 7-year loan tenure
    • Door step service at major centres
  • Digital Loans - Apply anytime, anywhere with no physical documentation required:
    • Pre-Approved Personal Loan: User friendly digital journey, No pre-payment and pre-closure charges, flexible tenor and attractive pricing.
    • Personal Loan: Flexible tenures at attractive pricing.
    • Digital Auto Loan: Flexible tenure along with 0.25% concession in ROI and waiver of processing fees.
    • Digital Home Loan: Flexible tenure along with 0.10% concession in ROI subject to minimum ROI of BRLLR and 100 percent waiver of processing fees subject to recovery of out of pocket expenses of Rs.7500/- + tax.
    • Education Loan: Customers can avail loan up to Rs 40 lakh for admission to premier institutes. No collateral needed and repayment period up to 180 months over and above the moratorium period.
    • Mudra Loan: Customers can avail loans up to Rs 10 lakh with loan approval in 30 minutes. Zero processing charges, no security or collateral required, no margin required up to Rs 50,000/-.
    • MSME Loan and Renewal of Loan: Customers can avail loans up to Rs 5 crore and existing MSME borrowers can renew loans online up to Rs 25 lakh. Renewal of loans at concessional processing charges.
    • Gold Loan: Avail loans up to Rs 25 lakh.
  • Attractive Baroda Tiranga Deposit scheme for 444 & 555 days.
  • B3 Digital only Savings Account with attractive offers.

*T&C Apply

For further information, please contact:

Bank of Baroda: Phiroza Choksi |   | corp.pr@bankofbaroda.com

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