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  • Bank of Baroda General Credit Card is Rated as "Great!" by 65 Users

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    Bank of Baroda General Credit Card

    Bank of Baroda General Credit Card Overview:

    The Baroda General Credit Card has been designed to cater to the needs of the population living in semi-urban and rural areas of the country. This scheme aims to provide access to instant credit for individuals in these areas. Customers taking advances under this scheme do not have to submit any security or purpose to avail the loan. The loans given using the Baroda General Credit Card comes with low interest rates and does not carry any documentation or processing charges. Women applicants can get a concession of 0.5% on the interest rates offered on the advances.

    Features and Benefits of an Bank of Baroda General Credit Card:

    Baroda General Credit Card – BGCC:

    Baroda General Credit Cards can be procured only at semi-urban and rural branches of Bank of Baroda. The Baroda General Credit Card cannot be used at merchant outlets and can be used only to make cash withdrawals. Customers can make withdrawals using loose cheque leaves and the Baroda General Credit Card limit will have a validity of five years, with an annual review in place.

    • Loan Limit - Bank of Baroda sanctions loans to up to a maximum of Rs. 2.5 lakhs for customers.
    • Withdrawals - Customers can make unlimited withdrawals or repayments, within the assigned credit limit. Funds can be withdrawn using the card within the approved limit at the branch which has issued the card, during emergencies.
    • Repayment - Borrowers can choose the time they want to repay the loan to Bank of Baroda.
    • Validity - The limit on the Baroda General Credit Card is valid for five years.
    • Insurance - BGCC card holders can get insurance cover as per the Personal Accident Insurance Scheme - PAIS for a value of up to Rs. 50,000 with a nominal premium.

    Other Benefits:

    • Card holders can earn interest on the Baroda General Credit Card balance in the account as per Savings bank rates.
    • Cheques got in the name of the customer will be collected free of cost under government assistance or grants.

    Quantum of Loan - Bank of Baroda sanctions a minimum loan amount of Rs. 1000 to a maximum loan amount of Rs. 25,000.

    Interest Rates - The interest rates charged would be 2% below the BPLR on advances availed. For women applicants, the interest rates charged would be 2.50% below the BPLR.

    The Baroda General Credit Card has to be used only by the customer and not by any other individual.

    Eligibility:

    Baroda General Credit Card

    • A customer in a rural or semi-urban area with a steady source of income can apply for a Baroda General Credit Card. The income of both the spouses can be combined to increase the credit limit.
    • Applications can be made in a joint manner with two or three family members for a Baroda General Credit Card account. The co-borrowers have to authorize only one individual to operate the BGCC account.
    • Self-Help Group members who are not credit-linked can apply for a Baroda General Credit Card.
    • Any applicant will not qualify for a Baroda General Credit Card, is he/she carries the mentioned cards - Baroda General Credit Card, Baroda Laghu Udyami Card, Baroda Kisan Credit Card, Swarozgari Credit Card, BOBCards or other credit cards.

    Fees and Charges:

    Interest Rates:

      Interest rates
    Investment Credit/ Production Credit
    Amounts up to Rs. 3 lakhs Fixed interest rate of 7% per annum.

    Or

    Base Rate = 9.65%.
    Amounts over Rs. 3 lakhs and

    below Rs. 25 lakhs

    Base Rate + 1.25% = 10.9%
    Rs. 25 lakhs or above Base Rate + 2.00% = 11.65%
    For JLGs/ SHGs Loan up to Rs. 3 lakhs - As per rates in the agri priority sector
    Loans for Godown construction for storing produce 9.65% + 0.50% = 10.15%
    Loans against warehouse receipts to up to Rs 50.00 lakhs 9.65% + 1.00% = 10.65%
    Loans against ware house receipts to non-farmers 9.65% + 2.00% = 11.65%
    Loans for buying four wheelers Baroda car loan interest rate minus 0.25%, the minimum being the base rate.

    Farm house construction

    + dwelling units for farmers

    As per Bank of Baroda home loan interest rates.
    Loans for construction of cold storages for storing agricultural produce 9.65% + 2.00% = 11.65%
    Loans for poultry 9.65% + 1.00% = 10.65%

    Other Agricultural Banking products offered by Bank of Baroda:

    • Agri-clinics and Agribusiness Centers by Agriculture Graduates
    • Agricultural Implements
    • Baroda Kisan Credit Card
    • Baroda Kisan Tatkal Loan Scheme
    • Construction / Modernisation / Expansion/ Renovation of rural godown
    • Cultivation of Crops
    • Dairy/Poultry
    • Dealers of Agriculture Inputs
    • Development of Horticulture
    • Development of land
    • Farm Produce Marketing Loan
    • Financing Agencies Providing Custom Services to Farmers
    • Financing Construction of Farm Building and Structures
    • Financing Scheduled Tribes/ Scheduled Caste
    • Financing Second Hand Tractors
    • Irrigation Potential
    • Providing Employment to Unemployed Technical Personnel via Agro Service Centers
    • Scheme For Construction of Sanitation Facilities In Rural Areas
    • Scheme for Loan Against Jewellery / Gold Ornaments
    • Scheme for buying Agricultural land
    • Tractors and Heavy Agricultural Machinery

    FAQs for Bank of Baroda General Credit Card:

    1. What should a customer do if he loses his Baroda General Credit Card?

      If a customer loses his card, then the same should be reported to the branch that has issued the Baroda General Credit Card.

    2. Is it mandatory for applicants to show income details while applying for the Baroda General Credit Card?

      Yes, income details are required to calculate the credit limit which will be allocated to the borrower by Bank of Baroda.

    3. Can Bank of Baroda borrowers get e-statements for their term loan accounts?

      Yes, term loan borrowers can register for e-statements and have them delivered to their email addresses.

    4. Is the mobile banking feature available to Bank of Baroda term loan customers?

      Yes, Bank of Baroda does provide the facility to bank on mobiles phones, helping borrowers get 24/7 access to their loan accounts.

    5. What is the validity period of the Baroda General Credit Card?

      The Baroda General Credit Card comes with a validity of five years.

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