Bank of Baroda Jammu

Banks 187 views

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 NameComplete AddressIFSCMICRContact Detail
Gandhi NagarGandhinagar Branch, Gole Market, Jammu Tawi, Gandhi Nagar, Jammu-180004BARB0GANJAM1800120020191-2451481, 2437572
Purani MandiPurani Mandi, Jammu Tawi Jammu-180001BARB0JAMMUX1800120010191-2579412
NarwalOpposite PHP Pumping Station, Near Narwal Chowk, Narwal, Jammu, Jammu & Kashmir-180006BARB0NARJAM1800120030191-2474143

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 

ProductsEligibilityLoan AmountInterest RateProcessing FeeTenure
Home LoanMinimum 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 value8.30% - 9.30%0.25%-0.50% of the loan amount
Minimum- ₹7,500
Maximum- ₹20,000
Upto 30 Years
Baroda Traders LoanIndividuals, proprietors, partnership firms & co-operative societies seeking working capital are eligible₹ 2 lakh-10 Cr10.35%-11.35% p.a.0.35% of the loan amount subject to a minimum of ₹ 7,500Upto 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

8.85% - 10.60%

0.75% of the loan amount to a maximum of Rs 10,000Upto 7 Years
Loan Against Future Rent ReceivablesOwners 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 LoanMinimum 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

11.55% - 16.55%

Upto ₹ 10,000Upto 4 Years

Documents Required to Access Loans from Bank of Baroda in Jammu

ProductsSalariedSelf-employed
Home LoanIdentity 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 LoanIdentity 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 LoanIdentity 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

 

 

 

You May Also Read