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Bank of Baroda

Article Updated on October 16, 2020 By gachie1

Bank of Baroda

14th December 1953 was a historic day for India’s International Bank, Bank of Baroda. Bank of Baroda, India started its glorious journey of its Overseas Operations on this day by opening a branch at Makadara Road, Mombasa in Kenya.

Later, on 03rd October 1959, another branch was opened at Digo Road in Mombasa. Subsequently, in 2002 Makadara Branch was merged with Digo Road Branch, Mombasa.

On 21st January 1992 the subsidiary, Bank of Baroda (Kenya) Ltd was incorporated with 86.70% shareholding of the Bank of Baroda, India and 43 local shareholders constitute the remaining 13.3%.

As on 31st December 2012, Bank of Baroda (Kenya) Ltd. has an authorised Capital of Kenya Shillings (Kshs.) 2,000 million with subscribed and paid up capitals of Kshs. 900 million respectively. Bank of Baroda, India is contributing a capital of Kshs. 858 million.

Bank is offering all the Banking services to its customers, enabled with transaction based banking- Internet Banking, RTGS (Domestic) & ready to offer cross border RTGS among East African Countries through East African Payment System (EAPS).

Beyond Banking

Bank is not only confined to the traditional way of doing Banking, but is also fostering to play active role in discharging the Corporate Social Responsibilities (CSR) in an effective manner with the philosophy of “give back to society”.

Bank has ensured over the years to serve the social cause by contributing its share towards many philanthropic activities to the advantage of the deprived section of people. Donations to the Kenya Red Cross Society for serving the poorer in indirect way, donations of Wheel chairs through Kenya Womens Society, donations to Oloose Girls Secondary School for purchase of books, computers, water tanks etc as direct participation are few among the initiatives taken by the Bank from time to time.

Recently, 60 trees were planted in Karura Forest, Nairobi to save the Ecology on the eve of Bank’s 60th anniversary celebration in Kenya. The Bank is still committed to increase the participations in such activities in the days to come.

Bank of Baroda Products And Services

Deposits

Savings Account

Saving Bank Account is an ideal account to meet your every day banking needs. It is suitable for Residents and Non Residents, Charities, Clubs, Association and Trusts. This account is an option to cultivate the habit of banking and saving. Simplest deposit option available to the depositor. Easy to operate. Option for money withdrawal by withdrawal forms or by cheque. An ideal option to cultivate the habit of banking and saving amongst the younger generation. Provision for nomination.

Baroda Premium Current Account

Product:

Premium Current Account for Individuals and Business Entities with an attractive way to earn interest on Deposits and bundle of other benefits.

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Features:

  •  Minimum Quarterly Average Balance (QAB) of Kshs.500000/
  •  Funds in the account over Kshs.500000/- shall be automatically converted to short term deposits bearing deposits in multiple of Kshs. 100000/- through Auto Sweep Facility. The period of short term deposit will be from 30 days to 91 days. Auto sweep will take place when the balance is Kshs. 600000/- & above.

– Maximum Balance : No limit

– Unlimited issuance of cheque books

– No Ledger Folio Charges

– Free Demand Draft / Banker’s Cheque Facility

– Free RTGS Facility

– Free Net Banking Facility

– Free Salary Processing Facility

– Statement of Account shall be given twice a month

Term Deposit

We offers various deposit plans that you can choose from depending on the term period, nature of deposit and its unique saving and withdrawal features. Apart from competitive interest rates and convenient withdrawal options, our deposit plans offer other features such as overdraft facility, outstation cheque collections, safe deposit lockers, ATM’s etc. Fixed deposits are categorised into deposits with a term period of less than 12 months, more than 12 months and recurring deposits. These deposit plans offer convenient solutions to both working individuals as well as senior citizens. Depending on the period, our various fixed deposit products help you get the best out of your savings by offering you good interest rates.

Loans

Baroda Home Loan

Product:

Purchase of Residential House/Flats/Property.


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Construction of House

Purchase of Plot or Land for construction of House

Repayment of Loan availed from other Housing Finance Company / Bank.

Mortgage of the Residential Property/Flats/Property/Land Financed.

Personal Guarantee(s) of the Borrowers / Co-Borrowers

Eligibility:

Individuals / Joint Borrowers with Close Family members. Minimum age of 21 years.

Loan Amount:

Minimum: Ksh 1.00 million

Maximum: Ksh 50.00 million

Margin: 20%

Rate Of Interest:

Competitive Rate of Interest Linked to CBR.

Period:

Maximum Loan Tenor is 15 Years.

Other Features:

Simplified Loan Processing. Simple One step application form and process for applying and hassle free approval.

Loan Processing Fee will be refunded on availment.

No facility renewal fee, No minimum income requirements

No pre-payment charges in case of early repayment.

Protection of Credit Life Insurance in the loan repayments, which can also be financed.

Other Third Party Cost:

Valuation Fees

Legal Fees

Property Insurance Cost

Baroda Asset Financing Scheme

Product:

Hassle Free Loan for purchasing new vehicle for road transport.

Eligibility:

Individual, Proprietorship & Partnership Firms, Private Limited companies and Registered Societies engaged in trading/manufacturing business.

Loan Amount:

Maximum Loan Amount : Kshs 5.00 Mn (Per Vehicle)

Margin: 20% (Minimum)

Period:

Maximum 60 monthly installments +interest as applicable, commencing from next month after disbursement.

Rate Of Interest:

Competitive Rate of Interest Linked to CBR.

Other Features:

Simplified Loan Processing

No Prepayment Charges

No Documentation Charges

Baroda Car Loan

Features:

  • Finance Available for purchase of new or reconditioned car
  • Loan processing fee is refundable and no hidden charges
  • Easy application process
  • Hassle free and swift sanction, convenient documentation
  • Convenient repayment period

 

Basic Requirement:

  • Regular income
  • Valid Identification proof
  • Minimum age of 21 years
  • Proof of Income

Baroda Biashara Loan

Product:

Hassle free loan/Overdraft for Traders, Business Units for development/Working capital requirement against Existing Security.

Eligibility:

Business / Trading units established for a minimum period of -2- years.

Loan Amount:

Minimum: Ksh 1.00 million
Maximum: Ksh 30.00 million

Security:

Immovable Property/FDR/Government Bonds

Rate Of Interest :

Competitive Rate of Interest Linked to CBR.

Period:

12 Months to 60 Months

Margin:

•    50% on market value as per recent valuation report of immovable property.
•    10% on Bank own FDRs
•    20% on Fixed Deposit with Bank of Baroda
•    10% on Government Bonds

Other Features:

•    Simplified Loan Processing
•    No processing, commitment, documentation charges
•    Borrowers are not required to submit financial statements, stock/book debt statements.

 Digital Banking

Debit Card

  • Access your account and withdraw cash any day and any time through Pesapoint partnered Bank’s ATM across Kenya
  • 24×7 Customer care helpline to BLOCK your card: 0703053000/ 0703053228 /0703053226 / 070353279 / 070305321
  • Visit our nearest branch and apply for Baroda ATM Card

Baroda Connect

  • Retail and Corporate customer can access their account 24X7 through internet.
  • It is SECURE, CONVENIENT and FREE service to access your account through internet
  • Transfer fund to your linked account or other BOB-Kenya account
  • Visit our nearest branch and apply for BarodaConnect

Baroda mPassbook 

Product:

Baroda mPassbook is a mobile version of the traditional bank passbook. This app, like any traditional bank passbook, provides all the information related to the customer bank accounts (All Savings, Current, OD, Other Deposits, and Loan account details linked with registered mobile number). This app also provides the customer an option to download the account statement, Tag the transactions and save it for future references, , Search the transactions based on date, amount or tag and Expense Manager for tracking down the expenses done. The app synchronises and updates automatically whenever the app is opened.

Registration Process:

1. Choose your desired language. 2. Enter the registered mobile number. 3. After entering the registered mobile number, app will send a silent sms from your mobile for authentication. You will receive an OTP. Enter the OTP. 4. After entering valid OTP, 4 digit pin has to be set by you for security purpose. 5. Enter the 4 digit pin to use the mPassbook services.

Eiligibility:

This app is now available for all the Bank of Baroda customers having their mobile number registered with their accounts.

Service Charges: No Charges.

Download:iOS users (iPhone Users) can download the application from App Store and Andriod phone users can download the application from the Play Store.

Alert Service

  • Get instant notification for all your transactions wherever you are.
  • Visit your branch to subscribe for the service.

KRA i-Tax Payment

  • Pay all your taxes through our bank.
  • KRA i-Tax payment facility available at all our branches

Rapid Fund To India

  • Efficient Remittance to India with Bank of Baroda or any other bank in India
  • Available to customers / non-customer
  • Hassle free and easy money transfer to India
  • Instant credit to beneficiary’s account with any branch of Bank of Baroda in India
  • Same day / within 24hrs credit to beneficiary’s account with branch of other Banks in India which are RTGS/NEFT enabled.
  • Trade related Payment NOT allowed under RapidFunds2India

Bank of Baroda Kenya Branches

Nairobi Main office (Branch)
Head office
nairobi@bankofbaroda.com
Swift Code: BARBKENANMO
Nairobi, Nairobi, Kenya
Phone: (020) 224802/12

Digo Road Branch, Mombasa
digoro@bankofbaroda.com
Swift Code: BARBKENAMOM
Mombasa, Coast province, Kenya
Phone: (041) 224507/8, 2226211

Nyali Branch, Mombasa
nyali@bankofbaroda.com
Swift Code: BARBKENANYA
Mombasa, Coast province, Kenya
Phone: (041) 4471104

Thika Branch
thika@bankofbaroda.com
Swift Code: BARBKENATHI
Thika, Kenya
Phone: (067) 22379

Kisumu Branch
kisumu@bankofbaroda.com
Swift Code: BARBKENAKIS
Kisumu, Kenya
Phone: (057) 2021768/74, 2020303

Sarit Centre Branch, Nairobi
sarit@bankofbaroda.com
Swift Code: BARBKENASAR
Nairobi, Kenya
Phone: (020) 3752590/91

Industrial Area Branch, Nairobi
indust.nairobi@bankofbaroda.com
Swift Code: BARBKENAIND
Nairobi, Kenya
Phone: (020) 55971/2/3

Eldoret Branch
eldoret@bankofbaroda.com
Swift Code: BARBKENAELD
Eldoret, Kenya
Phone: (053) 2063341

Nakuru Branch
nakuru@bankofbaroda.com
Swift Code: BARBKENANAK
Eldoret, Kenya
Phone: (053) 2063341

Head Office
Head Office
ho.kenya@bankofbaroda.com
SWIFT CODE: BARBKENAXXX
Nairobi, Kenya
Phone: +254(020) 224802 / 224812 / 2226416

Kakamega branch
kakamega@bankofbaroda.com
Swift Code: BARBKENAKAK
Kakamega, Kenya
Phone: (020) 2111777

MERU
meru@bankofbaroda.com
Swift Code: BARBKENAMER
Meru, Kenya
Phone: (064) 2030623

DIAMOND PLAZA, NAIROBI
dp.nairobi@bankofbaroda.com
Swift Code: BARBKENADIA
Nairobi, Kenya
Phone: (020) 3742257 / 37422263


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