Mumbai, October 22 (MExN): Bank of Baroda has launched its festive campaign, ‘BoB Ke Sang Tyohaar Ki Umang – Shubh Bhi, Labh Bhi,’ offering concessions on retail and MSME loans, savings products and debit card purchases. According to a press release, the campaign includes home loans starting at 7.40% interest, car loans at 7.85% and a waiver of home loan processing fees, subject to terms and conditions.
The bank is also offering additional home loan interest concessions of 0.05 percentage points for women and 0.10 percentage points for eligible borrowers, including individuals below 40 years of age, government, public sector undertaking and corporate customers maintaining salary accounts with the bank, and HNI and Radiance customers.
Under its ‘BoB Swabhoomi’ scheme, customers seeking loans to purchase plots for subsequent house construction can avail of lower margin requirements, longer repayment tenures and zero processing fees. Car loans start at 7.85%, with digital processing, quicker sanctions and minimal documentation. Customers opting for electric vehicles under the ‘BoB Green Wheels’ scheme can avail of an additional 0.15 percentage point interest concession and an extended repayment period.
The festive campaign also includes instant discounts for debit cardholders across shopping, food, travel and grocery purchases through participating brands and merchants.
For women customers, the bank is promoting its ‘BoB Global Women NRE/NRO Savings Account,’ which includes an auto-sweep facility and complimentary personal or air accident insurance coverage. Its ‘BoB Women Sapphire Savings Account’ offers benefits such as cancer care coverage of up to Rs 10 lakh, online doctor consultations for family members and exclusive offers on the Tiara Credit Card.
The bank’s ‘BoB Flexi Systematic Deposit Plan’ allows customers to begin systematic savings with Rs 500 per month, with interest rates fixed for the entire deposit tenure.
For micro, small and medium enterprises (MSMEs), the bank is offering financing for setting up or expanding electric vehicle charging stations, battery-swapping infrastructure and related facilities through ‘BoB Green Plug,’ with loans of up to Rs 5 crore. Its Construction and Mining Equipment Financing scheme offers repayment tenures of up to 60 months.
The bank is also offering ‘Baroda Mahila Swavalamban,’ a collateral-free financing scheme for women entrepreneurs, with extended repayment tenures, a complimentary QR code for business-to-business transactions and interest rate benefits.
Commenting on the campaign, Beena Vaheed, Executive Director of Bank of Baroda, said, “The festive season is an auspicious time when individuals and families look to fulfil their aspirations, whether it is purchasing a home or vehicle, growing a business, or building long-term financial savings.”
“Through our festive offerings, our aim is to make financing more accessible and rewarding through competitive interest rates and attractive benefits. With solutions tailored to meet diverse customer needs, Bank of Baroda remains committed to supporting our customers at every step of their financial journey,” she added. The bank stated that terms and conditions apply to the festive offers.
