Bank of Baroda UAE is one of the leading financial institutions that has been serving customers in the United Arab Emirates for over 50 years. Established in 1974, Bank of Baroda UAE has grown to become one of the most trusted and reliable banks in the country. The bank is known for its commitment to customer satisfaction, innovative products, and personalized service. Bank of Baroda in India (the parent bank) has an international presence in 94 overseas offices in the 17 countries.
Facts about Bank of Baroda
- Regulated by the Central Bank of the UAE;
- The only Indian Bank with a full-fledged banking operations license;
- Individual accounts are available for any resident Individuals who are either GCC Nationals or Indian national including persons of Indian Origin;
- Corporate accounts are available for those companies where one of the shareholders is Indian National;
- Currency – AED, USD, GBP and EUR.
Type of Accounts Available in Bank of Baroda
- Personal accounts
- Corporate accounts
Bank of Baroda Document Requirements to Open a Corporate Account
- Memorandum of Association (MOA);
- Trade License;
- Power of Attorney (POA);
- Board Resolution;
- Proof of address (Title deed/UAE; VAT filling; Ejari/Tenancy contract; Utility bill (last 3 months);
- Bank statement (last 3 months);
- Emirates ID;
- Passport copy;
- Valid VISA (If applicable);
- Trade License or certificate of incorporation;
- Shareholder Structure (Optional);
- Additional documents will be required during the compliance stage.
Products and Services of Bank of Baroda
- Car Loans;
- Equipment Heavy Vehicle/Finance;
- Overdraft;
- Trust Receipts, BP/BD/LCD;
- Short-term demand loans;
- Letter of Credit;
- Bank Guarantees;
- Loan amount: Up to AED 20 million for working capital requirement for a maximum period of 7 years;
- Specific Term Loans can be considered separately;
- Treasury;
- Bilateral, Club and Syndicated Loans;
- Real Estate Finance;
- Escrow services.
Partners of Bank of Baroda
- KIZAD;
- DMCC;
- The UAE-India CEPA Council (UICC);
- Danube;
- Dubai Properties.
Correspondent Banks
- UBS Switzerland AG, Zürich;
- KBC Bank NV, Brussels;
- Bank of Baroda, London;
- Bank of Baroda, Baroda;
- MUFG Bank Ltd., Tokyo;
- National Bank of Kuwait SAKP, Kuwait City;
- Qatar National Bank (Q.P.S.C.), Doha;
- Riyad Bank, Riyadh;
- Standard Chartered Bank, Singapore;
- Standard Chartered Bank, New York, New York.
Overall, Bank of Baroda UAE is a trusted and reliable financial institution that offers a wide range of products and services to meet the needs of its customers. With a strong presence in the UAE and a commitment to customer satisfaction, Bank of Baroda UAE is a bank that customers can rely on.
