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One of India's top public sector banks, Bank of Baroda (BoB), today announced the commencement of its annual festive campaign, Khushiyon ka Tyohaar, which features a number of benefits for customers as the festive season approaches. BoB is offering favourable interest rates on home loans and car loans with this campaign, in addition to a waiver or discount on processing fees and other perks.
There are no processing fees and a competitive interest rate starting at 7.95% p.a. for Bank of Baroda home loans. Car loans from Bank of Baroda are available at a cheaper rate starting at 7.95% annually, a reduction of 25 basis points. The bank has said in a press release that “In addition, under Khushiyon ka Tyohaar, customers will also receive a number of other benefits such as no pre-payment/ part payment charges, concessional processing charges and a longer repayment tenure of seven years."
Shri Ajay K. Khurana, Executive Director, Bank of Baroda said, “The festive season is about to commence, which is an auspicious time for all of us. After a couple of tough years, we expect to see a significant surge in festive demand as people get ready to celebrate the occasion with renewed enthusiasm and gusto. With Khushiyon ka Tyohaar, our aim is to support our customers with attractive offers to fulfil their aspirations and make the celebrations even sweeter."
Additionally, the Bank launched a Digital Lending campaign with a selection of digital loans to choose from in order to allow customers to make the most of the festive season. These include the Pre-Approved Personal Loan, Personal Loan, Auto Loan, Home Loan, Education Loan, Mudra Loan, MSME Loan, Gold Loan and the Baroda Kisan Credit Card (BKCC). Both current and new customers may apply, and the loans are available through the Bank of Baroda website, online banking, and the BoB World mobile app.
“In addition to the festive offers on loan products, customers also have the opportunity to earn higher interest with the Baroda Tiranga Deposit scheme. This is a special fixed deposit that offers higher interest rates. The Baroda Tiranga Deposits are available in two tenor buckets – offering interest rates of 5.75% p.a. for 444 days and 6.00% p.a. for 555 days. Further, senior citizens earn an additional interest rate of 0.50% p.a., while Non-Callable Deposits above Rs.15 lakh will get 0.15% p.a. extra. The Baroda Tiranga Deposit scheme is available throughout the festival season and closes on 31.12.2022," said Bank of Baroda in an official release.
Additionally, the bank has launched the B3 Digital Only Savings Account, which customers may establish from the convenience of their own homes using video KYC and get attractive benefits. BoB serves over 46,000 touchpoints across 17 countries and five continents to its 150 million+ worldwide customers.