Bank of Baroda: Salary & Allowances
Various Staff Loans
Refer to Master circular No BCC/BR/97/103 dated 20.04.2005 for all Staff Loans excluding Staff Housing Loan and Clean Overdraft facility for staff.
a) Take over of educational loan availed by Campus Recruitees :
Bank of Baroda has decided to offer to take over educational loan of officers recruited from campus on or after 01.01.2009.(Refer Circular No.BCC:BR:101/285 dated 16.09.2009. and subsequent circular No BCC:BR:102/310 dated 8.11.2010 with revised guidelines.
b) Revision of scheme of Conveyance loan to officers :
For -4- wheelers :
All confirmed officers with continuous service of 3 years and drawing basic pay of not less than Rs19400/-
Circular No.BCC/BR/102/38 dated 04.02.2010
80% of control price of car or Rs.7.00 lacs which ever is less.
8.50% simple interest
120 installments (Principle 90 and interest 30) in the ratio of 3:1
New Vehicle Loan Scheme for Officers-“Baroda Vehicle Loan For Young Officers”
All confirmed Officers whose basic pay is less than Rs 19,400/-per month-Age min-21 Years
BCC:BR:105:149 dated 10/04/2013
Rs 3.50 lacs
For -2- Wheelers :
Eligibility The officer should be confirmed in Bank’s service
Limit 90% of the control price or Rs.90000/- whichever is less.
ROI 8.50% (Simple)
Repayment 84 equated installments (70 towards principal
and 14 towards Interest)
Clean Overdraft facility for Staff Members
Refer to Master circular No BCC:BR:96:48 dated 28.01.2004 and BCC:BR:98:61 dated 07.03.2006 for Clean Overdraft facility available to Confirmed Staff Members with minimum service of 3 years.
Length of Service
Eligibility Amount (Rs in Lacs)
3 to 5 Years
5 to 10 Years
10 years & Above
Rate of Interest w.e..f. 01.07.2010(Circular No.BCC:BR102/167 dated 22.06.2010
9% p.a. on compounding basis with monthly rests.
Staff Housing Loan
(a) Regular Housing Loan : (:(circular No.BCC:BR:102/135 dated14.05.2010.)
Confirmed in Bank of Baroda’s service
90% of total cost or Rs.20 lacs which is lower.
Rate of Interest
8% p.a(Simple) or 4% less than BPLR whichever is lower
10% of the cost
240 monthly installment. 180 installment towards principal and 60 installment towards interest.
Those officers who have availed regular housing loan before 01.02.2010 as per earlier scheme, but construction/purchase of house is incomplete and/or repayment of loan has not begun, are also eligible to opt the housing loan under the revised scheme subject to the original estimated cost.
Retail Asset Product “ Baroda Additional assured Advance (AAA)-Modified Guidelines-All Existing Home Loan Borrowers including Staff & Ex-staff Members
(availed home loan under public scheme as well as Staff Housing Loans)whose asset classification is standard are eligible for availing further housing loan to the tune of 90% of the amount already repaid. Please refer to BCC:BR:104:289 dated 14/08/2012
(b) Additional Housing Loan :
Confirmed in Bank of Baroda’s Service
Rate of interest
8% p.a.(Simple) or 4% less than BPLR. Whichever is lower
120 monthly installments – 90 equal installment towards principal and 30 equal installments towards interest.
25% of the estimated cost.
Those officers who have availed additional housing loan before 01.02.2010 as per earlier scheme, but repair/renovation/enlargement of house is incomplete and/or repayment of loan has not begun, are also eligible to opt the additional housing loan under the revised scheme.
© with this increase the facility of Supplementary housing loan
(d ) the existing housing loan account of an officer under old scheme
can be transferred to new scheme for interest benefit, if he so desires.
Housing Loan to Staff under Public Scheme
Refer to Master circular No BCC:BR:93:50 dated 17.03.2001 & BCC:BR:99/278 Dated 20.09.2007 for Housing Loan to Staff under Public Scheme.
47. Scheme for Encouraging Employees to Pursue Professional and Computer Education, through Correspondence, Part-time & Distance Learning:
Refer to Master Circular No BCC:BR:96:208 dated 01.06.2004 for above scheme.
48.Preferential Interest Rates on Deposits:
The Bank may allow one per cent additional rate of interest over its ruling rate of interest on fixed deposits, saving deposits and recurring deposits in the name of an officer, individually or jointly with any member of his family.