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Loans and Advances
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How much time it takes an advance to get sanctioned in the bank?
- It depends upon the amount of the advance applied for since applications for the higher amount requires approval at higher levels of the bank and therefore, in such case, little more time is taken. Nevertheless, the bank endeavours to dispose of the advances-applications within 30 days at all levels.
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How can I approach the bank for an advance ?
- Bank of Baroda has one of the largest network of domestic Branches (i.e., 2600+ branches) spread over all nook & corner of India. All these branches are manned by highly experienced & skilled personnel ever ready to be of service to the customers. All you have to do to simply approach our any branch-manager, apprise him / her of your need, and, he / she shall be too glad to guide you how to proceed further according to your specific needs.
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What types of credit facilities bank can provide to assist my business needs?
- Bank of Baroda has a very wide bouquet of types of credit facilities which can be tailor-made to suit your specific requirements. In a nutshell, the Bank offers :
A) Working Capital finance by way of :
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Cash Credit
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- To
provide cash / funds to procure stock,
raw material, consumables, stores &
spares;
- To
provide cash / funds to meet business
expenses;
- To
replace high cost existing borrowings
from other banks / lenders for the above
said purpose.
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Bills Purchase / Discounting
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| W./C.
Demand Loan for short term (upto 1 year) requirements |
| W./C.
Term Loans for long term (for over 1 year)
requirements |
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Letter of Credit
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Bank Guarantee
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B) Long term finance by way of :
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Short & Long term Loans
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- To provide cash / funds to facilitate purchase of fixed assets, such as, building, plant & machinery, equipments, furniture & fixtures, business vehicles, and other related assets and the supplier is ready to supply the assets on credit.
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Deferred Payment Guarantee
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- To provide the Bank's credit for any of the above said purpose if supplier of the asset is agreeable to receive payment in installments instead of receiving the payment immediately on or before supply of the asset.
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What is the minimum & maximum period for which I can avail advance from the Bank?
- The Minimum period for which an advance may be sanctioned starts is one day. The maximum period for which an advance can be sanctioned depends upon:-
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How the advance is required to be repaid ?
- For Working Capital advances, the advance is expected to be liquidated within the period for which it is sanctioned along with the timely servicing of interest as per the agreed terms.
- For advances to acquire fixed assets, the repayment is agreed as per the repayment capacity reckoned with the expected cash flow from the business operations, and, therefore, it can be either equal or ballooning monthly / quarterly / half-yearly / yearly installments or a bullet payment along with the timely servicing of interest as per the agreed terms.
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What should I do if the branch, I approached, has not responded satisfactorily ?
- Bank of Baroda has a highly dedicated customer friendly team of personnel. Therefore, such a situation is usually imperceptible except that there may very scarcely arise communication gap. In such cases, you may immediately contact any of the following for expeditious redress of the grievance:
- The Regional Manager in whose jurisdiction, the concerned branch is situated;
- The customer help center whose address is given on our web-site;
- Our e-mail address..
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If I have plan to implement Greenfield Project / infrastructure project / Information Technology Venture, whether the bank has any specialized team to look into my requirements ?
- The Bank has a Project Finance Division; Infrastructure Financing Cell; Technology Financing Cell, - all manned by a battery of highly experienced specialized team to cater to the varying needs of financing in such projects.
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Whether a Foreign Currency Loan is also available from the Bank, if yes, whether can it be availed overseas ?
- Bank of Baroda is among the most prominent purveyors of Foreign Currency Loans to Corporates in India. Moreover, due to the fact that Bank of Baroda has the largest net-work of overseas branches among all Indian Banks, the Bank can make available the Foreign currency loan anywhere in the Globe and that too in the currency of your choice.
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If my company is enjoying credit facilities from other banks and because of temporary mismatch of cash flows or some unforeseen exigency, my company desires short term advance, whether my company can approach your bank?
- Yes, Bank of Baroda believes in building new relationships and then to maintain them for mutual growth & prosperity. Therefore, we welcome a customer even if it has not been banking with our bank.
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Whether the bank finance for development of real estate such as housing complex, shopping complex etc.
- Yes, Bank of Baroda has set an ambitious target to provide finance for real estate sector which is vital segment for a growing economy in a developing country like India.
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