Bank of Baroda Chennai
Last Updated : Jan. 11, 2019, 6:04 p.m.
About Bank of Baroda
Bank of Baroda (BoB), a public sector bank with 6,000 branches and more than 1,000 ATMs, has suddenly emerged out of the blue to become the preferred home loan lender. The bank is now much in the news by announcing a reduction in the lending rates on a home loan to an industry low of 8.35% per annum. The bank also waived off the switchover fees, which were applicable for customers transferring their home loan balance to MCLR from base rate to benefit from the ongoing rate slash. Normally when you switch this way, you need to cough out a fee of ₹ 5,000-10,000. With these massive announcements, the bank has put a big step forward in a home loan space wherein the rate war has kicked off with a bang. And if experts are to be believed, the trend may continue for a fair while from here. So, you can expect a further reduction in the bank’s lending rates in the times to come.
If we go back to the history to check out how BoB came into the banking arena, then we find that it was Maharaja of Baroda and Maharaja Saijirao Gaekwad III who started by setting up a small operation in a small building in the city of Baroda in 1908. Today you could see the bank has travelled a long way from a small operational set up to a renowned name in the areas of personal banking, MSME banking, global banking, corporate banking and others. If you are staying in Chennai and looking for a BoB branch to meet your financial needs, you can get the service from around 50 branches in the city.
Bank of Baroda Branches in Chennai
| Branch | Complete Address | IFSC | MICR | Contact Detail |
|---|---|---|---|---|
| Alwarpet | Alwarpet Branch, 252 A, Ttk Road, Alwarpet, Chennai- 600018 | BARB0ALWARP | 600012004 | 044-23454226, 27 |
| Ambattur | Ambattur Branch, 119, Mth Road, Ambattur, Chennai- 600053 | BARB0AMBATT | 600012002 | 044-26580339 |
| West Mambalam | West Mambalam Branch, 90 Arya Gowda Road, West Mambalamm, Chennai- 600033 | BARB0CHENBS | 600012031 | 044-23454325 |
| Choolaimedu | Choolaimedu Branch, Sjm House, 52, Nelson Manickam Road, Choolaimedu, Chennai- 600094 | BARB0CHOOLA | 600012005 | 044-23454249 |
| Siet.College | Siet.College Branch, K.B.Dasan Road Teynampet, Chennai- 600018 | BARB0COLMAD | 600012014 | 40-23454302/ 23454000 |
| E.C. Street | E.C. Street Branch, 3 Eraballu Chetty Street, Chennai, 600001 | BARB0ECSTRE | 600012006 | 44-23454259, 23454261 |
| Egmore | Egmore Branch, 52, Montieth Road, Egmore, Chennai- 600008 | BARB0EGMORE | 600012007 | 044-28553889 |
| RamavaramCorporate Financial Services | Ramavaram Branch, 1&2 Girinagar, Ramavaram, Chennai- 600089 | BARB0GIRINA | 600012023 | 044-23454295 |
| Corporate Financial ServicesK.K.Nagar | Corporate Financial Services Branch, Chennai | BARB0INFIMA | 600012022 | 044-23454251 |
| K.K.Nagar | K.K.Nagar Branch, 20, Dr.Natesan Road, K.K.Nagar, Chennai- 600083 | BARB0KKNAGA | 600012018 | 044-23454272 |
Products Offered by Bank of Baroda in Chennai
At BoB, you can choose your favourite savings and loan product to meet your financial needs. As far as loans are concerned, you can be the beneficiary of a home loan, car loan , personal loan and much more to fulfill your requirements. Want to know the basic details of those loans? Look at the table below.
Basic Details of BoB Loans in Chennai
| Product | Eligibility | Loan amount | Interest Rate | Processing Fee | Tenure |
|---|---|---|---|---|---|
| Home Loan | Minimum age for application-21 years for salaried and self-employed applicants Maximum age permitted at the time of loan maturity-60 years for salaried and self-employed applicants | About 75%-90% of the property value | 8.50% - 10.60% | 0.25%-0.50% of the loan amount Minimum- ₹7,500 Maximum- ₹20,000 | Upto 30 Years |
| Car Loan | Minimum age for application-21 years for both salaried and self-employed applicants Maximum age allowed at the time of loan maturity-65 years | Upto ₹ 1 Cr | 7% onwards | 0.75% of the loan amount to a maximum of Rs 10,000 | Upto 7 Years |
| Personal Loan | Minimum age for application-21 years Maximum age permitted at the time of loan maturity-60 years for salaried & 65 years for self-employed | ₹ 50,000-10,00,000 | 10.90% - 18.25% | Upto ₹ 10,000 | Upto 4 Years |
| Loan Against Future Rent Receivables | Owners who have rented their premises or are lloking to rent to corporate houses/PSU units/banks/MNCs are eligible Landlords of BoB Offices or Branches are eligible Landlords or residential property given on a lease to the officers and executives of BoB are also eligible | Upto 55% of the rent due and receivable for both the unexpired period of lease and uncertain period of lease. | 12.10% p.a. | 1% of the loan amount subject to a maximum of ₹ 7.5 lakhs and ₹ 150 lakhs for loans upto 10 Cr and above 10 Cr, respectively. | Upto 10 Years |
| Baroda Traders Loan | Individuals, proprietors, partnership firms & co-operative societies seeking working capital are eligible | ₹ 2 lakh-10 Cr | 10.35%-11.35% p.a. | 0.35% of the loan amount subject to a minimum of ₹ 7,500 | Upto 5 years |
Documents Sought to Access BoB Loans in Chennai
| Products | Salaried | Self-employed |
|---|---|---|
| Home Loan | Identity Proof- PAN Card/Passport/Voter ID/Driving License/Aadhaar Card Address Proof-Utility Bill/Passport/Aadhaar Card/Voter ID Income Proof-Latest Salary Slips & Form 16 for Salaried Bank Account Statement for the Last 6 Months Track of any other loans, if any Property details such cost estimate of construction | Identity Proof- PAN Card/Passport/Voter ID/Driving License/Aadhaar Card Address Proof-Utility Bill/Passport/Aadhaar Card/Voter ID Profit & Loss A/C Statement & Audited Balance Sheet for the Last 3 Years Bank Account Statement for the Last 6 Months Track of any other loans, if any Property details such cost estimate of construction |
| Car Loan | Identity Proof- PAN Card/Passport/Voter ID/Driving License/Aadhaar Card Address Proof-Utility Bill/Passport/Aadhaar Card/Voter ID Income Proof-Latest Salary Slips & Form 16 Bank Account Statement for the Last 6 Months Track of any other loans, if any | Identity Proof- PAN Card/Passport/Voter ID/Driving License/Aadhaar Card Address Proof-Utility Bill/Passport/Aadhaar Card/Voter ID Profit & Loss A/C Statement & Audited Balance Sheet for the Last 3 Years Bank Account Statement for the Last 6 Months Track of any other loans, if any |
| Personal Loan | Identity Proof- PAN Card/Passport/Voter ID/Driving License/Aadhaar Card Address Proof-Utility Bill/Passport/Aadhaar Card/Voter ID Income Proof-Latest Salary Slips & Form 16 | Identity Proof- PAN Card/Passport/Voter ID/Driving License/Aadhaar Card Address Proof-Utility Bill/Passport/Aadhaar Card/Voter ID Income Proof-Profit & Loss A/C Statement & Audited Balance Sheet for the Last 3 Years |