Bank of Baroda Jammu
Last Updated : Feb. 8, 2017, 9:52 a.m.
About Bank of Baroda
The birth of Bank of Baroda (BoB) has to do with the emperors of the yester years. Yes, the bank was founded by the two royals, namely Maharaja of Baroda and Maharaja Sayajirao Gaekwad III in 1908. The royals behind the beginning of a bank must have surprised you, isn’t it folks. But that’s what the reality is. When your and our ancestors were trying everything possible to cause unrest in the British, these royals were focused on setting up a bank, which has only gone from strength to strength with the years gone by. The first cherished moment for the bank arrived in the year 1969 when the Government of India nationalized Bank of Baroda. And from there on, it never looked back and kept creating new avenues for growth.
The bank now holds a significant place in different banking verticals, be it retail banking, corporate banking, rural banking or MSME banking. It has its own unique way of serving its customers. If the customers require a deposit account opened under his/her name, the bank keeps its minimum balance requirement to an amount that can be affordable for most. While the loan seekers can receive maximum funding to enjoy their journey.
One more interesting part of the bank is its ability to set it apart from its competitors. You all must have noticed that the bank recently cut the interest rates on a home loan to 8.35% per annum, which incidentally is the lowest in the industry. Adding more muscle to its home loan dominance is the removal of fees on switching from base rate to Marginal Cost of Lending Rate (MCLR), a tool that makes lending rates highly responsive to the changes made in the repo rate by the Reserve Bank of India (RBI). So, this is what BoB craves for and does that time and again to stay in the contention.
The talk of success will be incomplete without mentioning its presence, don’t you think so. It has a massive presence both on national and international levels. The bank has more than 6,000 branches and about 1,000 ATMs, a significant number to take note of. Talking of its presence outside the national boundaries, you would find its wings are spread out to the US, Australia, Hong Kong, Dubai, the African continent and other spheres of the world.
The people living in the hilly mountains of Jammu feel obliged to be served by the able hands of Bank of Baroda, which has about 5-10 branches in the city. Know those branches as we outline the table below.
Bank of Baroda Jammu Branches
| Branch Name | Complete Address | IFSC | MICR | Contact Detail |
|---|---|---|---|---|
| Gandhi Nagar | Gandhinagar Branch, Gole Market, Jammu Tawi, Gandhi Nagar, Jammu-180004 | BARB0GANJAM | 180012002 | 0191-2451481, 2437572 |
| Purani Mandi | Purani Mandi, Jammu Tawi Jammu-180001 | BARB0JAMMUX | 180012001 | 0191-2579412 |
| Narwal | Opposite PHP Pumping Station, Near Narwal Chowk, Narwal, Jammu, Jammu & Kashmir-180006 | BARB0NARJAM | 180012003 | 0191-2474143 |
Products Offered by Bank of Baroda in Jammu
Have a wish of roaming around the hilly mountains of Jammu via a car or want to buy a new home to be assured of your stay in such beautiful locales? Bank of Baroda can just be the partner you need to fulfill those dreams. With a flexible and broad suite of loans such as home loan , car loan, personal loan and others, the Jammu branches of the bank have what you require to fulfill your dream. So, before you pick any product, please ensure you go through the details of those. We are providing you the details on the table below to make your mind.
Basic Details of Bank of Baroda Loans in Jammu
| Products | 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 |
| 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 |
| 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 |
| Loan Against Future Rent Receivables | Owners who have rented their premises or are looking 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 |
| 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 |
Documents Required to Access Loans from Bank of Baroda in Jammu
| 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 |