Bank of Baroda launches digital lending platform, now you can get a loan from the bank in 30 minutes.
Bank of Baroda, the country's third largest public sector bank, has launched a digital lending platform. This enables potential retail borrowers to get loans digitally in their place and through a paperless process.
BoB currently offers pre-approved micro personal loans to buy anything through offline / online partner channels and then pay in easy EMI.
Customers can also withdraw money into their savings bank accounts and convert it into an EMI of 3 to 18 months through m-Connect + (the bank's mobile banking application) in 60 seconds, the bank said in a statement.
BoB Executive Director Vikramaditya Singh Khinchi said the bank envisions a 1.50-fold growth in the banking industry over the next five years by adopting a digital first lending approach in the retail, MSME and agricultural sectors.
Over the next few years, the Bank is poised for aggressive growth in business under its Transformation Process. Bank has put in a place a system which proactively identifies and groom future potential leaders This includes giving them proper exposure in various roles, giving them the right trainings, etc. to assume leadership roles in the future including succession planning for critical positions.
Apart from salary, Bank also offers various employee benefits like medical coverage (including walk-in walk-out facility at select centres) for self and dependent family members, LTC / LFC facilities, Holiday Home facility at various centres across the country, concessional staff loans, etc. Further, for officer staff Bank provides residential quarters, wherever available or leased housing accommodation facility.
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