Rapid Funds to IndiaA unique and exclusive express remittance scheme specially designed for overseas Indians
Any person having an account with any Bank in India
There is no limit on maximum and minimum remittance
Time taken for credit into account in India:
1. Account with any branch of Bank of Baroda in India – Same day of remittance
2. Account with any other bank in India- Second day of remittance –Second day of remittance
Bank charges in Botswana:
1. To Bank of Baroda branches in India –
Minimum –P50, Maximum-P150 plus VAT2. To other bank in India –0.25%minimum P40&maximum P250plus swift
Charges and Vat
Electronic Funds Transfer (EFT)We offer Electronic Funds Transfer facility. You can transfer funds electronically from our bank to all Banks in Botswana. This facility allows you to electronically schedule transfer of funds / salaries / stop orders.
Debit CardThe Bank of Baroda (Botswana) Debit Card is accepted at 6 ATMs installed at Francistown Blue Jacket street, and OK foods West Gate mall , Main Mall, G West Branch, Riverwalk Mall, University of Botswana in Gaborone..The card enables you to withdraw money and avail other facilities 24 X 7 days.
1. Through this card you can withdraw money from any of our ATM Machine 24X7 hours.
2. You can withdraw cash from P50 to P2500 in multiple of P50 in one transaction. Per day transactions limit is fixed at with a maximum cap of P5000
3. Charges for the cards issued by Bank of Baroda:As per the service charges published on the footer of the webportal.
4. In addition to cash withdrawal the following additional services are offered free on our ATM machine:-
a. Balance Inquiry
b. Mini Statement
c. Fund Transfer between linked account
ATMs are Visa certified and other bank’s card will also be accepted in our ATMs and our card can be used in other Bank’s ATMs
Loan/ Overdraft against Bank's own DepositsThe guidelines/procedure to be followed while sanctioning the loan/overdraft against Bank’s own deposit is as under
(a) Loan should be granted to the holder of the FDR/SDR, but no facility be granted if the FDR/SDR is in the name of minor.(b) Loan may be granted in the name of firm/company if the FDR/SDR is in the name of proprietor/partner/director.(c) Margin to be kept at 10% of the deposit. Managing Director may reduce margin from 10% to 5%. However an undertaking should be obtained that if interest is not serviced within 3 months, the bank will prepay and adjust proceeds of the FDR in the accounts.(d) No facility to be granted against other branch FDR/SDR. However, branch may grant LABOD against deposit at other foreign branches/ subsidiaries of our parent bank subject to noting the lien in our favour as well as subject to permission/law of freely repatriation of money in the respective country.(e) Interest on the loan/overdraft against own deposit may be charged as under:-(i) Loan/overdraft in Botswana Pula – Minimum 2% over interest paid against deposit in Botswana Pula FDR/SDR. If loan is granted against deposits at other foreign branches/subsidiaries of parent bank interest rate will be prime rate. Margin for Loan /overdraft against third party deposits shall not be less than 10% and rate of interest on such advance shall not be less than prime rate irrespective of rate of interest quoted for the FDRs.