Bank of Baroda has announced many new and exciting updates for its customers. These updates will not only provide customers with a better banking experience but will also facilitate their financial lives. BOB, one of the largest public sector banks in India, is constantly improving its services to meet the changing needs of its customers.
In this article, we will know in detail about the new updates announced by Bank of Baroda. We will also understand how these updates will benefit account holders and transform their everyday banking experience. Whether you are a new customer or an old account holder, this information will be very useful for you.
Bank of Baroda latest updates: At a glance
| Description | Information |
| bank name | Bank of Baroda (BOB) |
| date of update | January 1, 2024 |
| main beneficiary | All BOB account holders |
| Major Updates | Expansion of digital banking facilities |
| Additional benefits | better customer service |
| applicable area | all over india |
| minimum balance | no changes |
| increase in interest rates | Yes, on some deposit schemes |
Expansion of digital banking facilities
Bank of Baroda has made its digital banking platform more robust and user-friendly. This update will provide many new features to customers that will make their banking experience easier and safer.
Mobile Banking App Improvements
- New User Interface: BOB has given a new and attractive look to its mobile app, making navigation easier.
- Instant Transactions: Now you can transfer money in just a few clicks.
- Biometric Login: Login faster with fingerprint or face recognition.
Increase in UPI facilities
- Higher transaction limit: You can now transact up to Rs 1 lakh per day through UPI.
- Multi-Bank Linking: Facility to link multiple bank accounts with a single UPI ID.
- QR Code Scanning: Improved QR code scanning technology that will work even in low light.
Online Loan and Investment Facilities
- Instant Loan: Instant digital application and approval for small business and personal loans.
- Mutual Fund Investment: Invest in mutual funds directly through the app.
- Stock Trading: Facility to invest in the stock market from the bank’s platform itself.
better customer service
Bank of Baroda has taken several new steps to make its customer service more effective.
24×7 chatbot support
- AI-powered chatbot: A smart chatbot to answer your questions instantly.
- Multilingual Support: Support available in Hindi, English and multiple regional languages.
Video KYC
- KYC at home: Now you can get your KYC updated through video call while sitting at home.
- Accelerated Process: Complete KYC in 50% less time than the old method.
Dedicated Relationship Manager
- Personal Service: Premium account holders will get a dedicated relationship manager.
- Quick Solution: Quick solution to your problems.
New deposit schemes and increase in interest rates
Bank of Baroda has launched some new and attractive deposit schemes for its customers, as well as increased the interest rates on some existing schemes.
Bob Utsav Deposit Scheme
- High interest rates: Up to 7.90% annual interest for 400 days.
- Flexible Tenure: Choose a tenure ranging from 400 days to 3 years.
- Senior Citizen Bonus: 0.50% additional interest to senior citizens.
Improvement in regular savings account
- Interest rate increase: Now up to 4% interest on general savings accounts.
- Monthly Interest Calculation: Now the interest calculation will be on monthly basis, which will give you more benefits.
Special FD Schemes
- Tax Saver FD: Interest up to 7.5% with a lock-in period of 5 years.
- Flexi FD: Choose the FD tenure as per your need and get better returns.
Expansion in digital loan facilities
Bank of Baroda has made its digital loan platform more comprehensive, so that customers can get loans easily and quickly.
Instant Personal Loan
- Instant Approval: Loan approval within minutes.
- Paperless Process: Entire process digital, no paperwork.
- Flexible EMI: Choose EMI as per your convenience.
MSME Loan
- Less Documents: Loan application with minimum documents.
- Quick Processing: Loan approval within 7 days.
- Collateral Free: Loans up to Rs 2 crore without any collateral.
home loan digitalization
- Virtual Property Inspection: Property valuation from home.
- Online Document Verification: Verification of documents digitally.
- Integrated EMI Calculator: Calculate and plan accurate EMIs.
New debit and credit cards
Bank of Baroda has added many new and innovative cards to its card portfolio, which offer various benefits to the customers.
contactless debit card
- Faster Transactions: Tap & Pay facility for small transactions without PIN.
- Extra Security: High security with EMV chip.
- International Acceptance: Easy use even in foreign countries.
Rewards Credit Card
- Points on every spend: Reward points on every rupee spent.
- Airline Mileage: Convert points earned into airline mileage.
- Lifetime Free: No annual fee.
Co-branded cards
- Shopping Partners: Co-branded cards with major retail brands.
- Exclusive Discount: Exclusive discounts at partner stores.
- Cashback Offer: Cashback on regular purchases.
rejection: The information provided in this article is for general reference only and should not be construed as financial advice. Please consult your financial advisor or bank before taking any financial decisions. Bank of Baroda schemes and services may change from time to time, so visit the bank’s official website or branch for latest information.
