Faqs Page BG

Frequently Asked Questions (FAQs)

  • I didn’t receive activation Key. What to do?

    You will receive activation Key on your registered mobile number in an SMS after successful registration. If you have not received it, please reset activation Key of Mobile banking using any of the following alternate channels.

    • ATM
    • Internet banking (bob World Internet)
    • Base Branch

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  • What is the amount of fee payable for use of the card?

    Usage of the card at merchant location (Point of Sale) is free of charge.

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  • What are the limits for fund transfer?
    Max amount per transaction Max amount per day
    Rs. 25,000 Rs. 50,000

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  • Where can I use the card?

    Baroda Gift Card can be used at any VISA-certified merchant establishment in India. However, it cannot be used to withdraw cash as per the current guidelines of Reserve Bank of India.

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  • What are the benefits of taking an education loan from Bank of Baroda?

    Bank of Baroda offers various education loans at attractive interest rates with repayment tenure of up to 15 years. No collateral needs to be provided for loans of up to Rs. 40.00 lakh for the identified premier institutes. Maximum Loam limit is Rs.125.00 lakh for study in India and Rs.150.00 lakh for study abroad.

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  • Is there any legal binding to report under FATCA and CRS?

    Necessary legislative changes have been made through Finance (No.2) Act, 2014, by amending section 285BA of the Income Tax Act, 1961. Income Tax Rules, 1962 were amended by inserting Rules 114F to 114H and Form 61B to provide a legal basis for the Reporting Financial Institutions for maintaining and reporting information.

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  • I have given self-certification/undertaking at the time of opening of account. Do I need to give it again every year?

    You need not to provide us the self-certification again unless there are a change in circumstances, which results in change in your Tax Residency Status.

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  • But can I prepay the loan ahead of schedule?
    • Yes, you have the option to prepay the loan ahead of schedule either in parts or in full from your own sources.

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  • Can a guardian take Baroda Vidya education loan for his/her child?

    Yes

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  • Is Bank of Baroda instructed to not accept the PPF extension letters till 14th April?

    No such instructions are issued by Bank of Baroda regarding the acceptance of PPF extension letters.

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  • What is the 40% scheme?

    Under the 40% scheme, Indian companies engaged or proposing to engage in the following activities are allowed by Reserve Bank to issue share/debentures to NRIs with repatriation benefits to the extent of 40% of the new issue. 1. Industrial and manufacturing units 2. Hotels with 3, 4 or 5-star categories. 3. Hospitals and diagnostic centres 4. Shipping companies 5. Development of computer software 6. Oil exploration services.

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  • Can I pay a person with a credit card?

    Payments by credit cards are not permitted for P2P transactions. However, credit card loans are available. (Conditions apply)

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  • What are the documents required to apply under resolution framework?

    Application form along with, necessary declaration/ documents reflecting stress due to COVID-19 on health / income of the borrowers / their family members.

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  • Is FATCA applicable to personal or business customers?

    FATCA legislation will impact both personal and business customers who hold an account, policy or agreement with Bank of Baroda.

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  • Who can apply for the education loan?

    The student applying for the education loan must be a resident of India. He/she must have confirmed admission in recognized educational institutes in India or abroad.

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  • How can I check the balance available on my Gift Card?

    You can enquire balance available on your gift card by using the Bank’s internet portal https://bobprepaid.enstage.com/prepaid/cms/customer/index.jsp and/or calling our 24-hour customer care toll-free number 1800 102 5627 by giving card number and identification.

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  • At what periodicity the lending institutions undertake the classification of Accounts as SMA or NPA?

    Lending institutions undertake the process of classification of Accounts as SMA / NPA on daily basis during the Day-end-Process.

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  • How does the bank find out whether who is a U.S. person?
    • To identify U.S. persons for U.S. tax filing purposes, the Bank will run the following checks in case all the accounts are opened on or before 30/06/2014:
    • Identification of the account holder as a U.S. citizen or resident.
    • Unambiguous indication of a U.S. place of birth.
    • Current U.S. mailing or residence address (including a U.S. post office box).
    • Current U.S. telephone number.
    • Standing instructions to transfer funds to an account maintained in the United States.
    • Currently effective power of attorney or signatory authority granted to a person with a U.S. address.
    • An "in-care-of" or "hold mail" address is the sole address that the Reporting [FATCA Partner] Financial Institution has on file for the account holder.
    • In accounts, opened on or after 1/07/2014, basis will be the self-declaration by the account holder.

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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 instalments or a bullet payment along with the timely servicing of interest as per the agreed terms or under Equated Monthly Instalments.

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