It is a well-known fact that Dubai and India has always had very strong connections in terms of business. Today, more than half of the Dubai residents are in fact Indian and Dubai can thank a lot for all the Indian businesspersons who helped to flourish the emirate. Bank of Baroda is the third largest bank of India and naturally, it has its branches in Dubai as the main state, which employs also those who have Indian citizenship. Let us see now how does Bank of Baroda work and how is its branch in Dubai.
The Maharaja of India founded Bank of Baroda in 1908. As of today, it has over 3400 branches all over the world and plans to open further 400 so it is no wonder that the bank is also called the “International Bank of India”. The bank has around 1700 ATMs. The branches are located in 78 countries. Bank of Baroda in growth mainly followed the biasphora of the hundreds of thousands of Indian workers who went to work in concentrated quantities to diverse parts of the world. Dubai and the United Arabic Emirates is one of these places. Bank of Baroda is planning to open its new branches also in Bahrai, in Qatar and it has branches in Saudi Arabia too.
The first branches of Bank of Baroda opened in the United Arab Emirates in 1974 with one branch located in Dubai and the other one in the capital city Abu Dhabi. Today, Bank of Baroda has its own diverse website and services specifically for the Indian and Emirati residents. Bank of Baroda offers NRI Services, Retail Banking, Loans, Corporate and Syndicate oriented financial units. Its main services in Dubai are in loans. Bank of Baroda offers different car, home and salary based personal loans. The main branch of the bank is located in Dubai’s Financial Centre. We can find further branch offices in Deira, and customer services in Al Quasis, Sheikh Zayed Road and in Karama all in Dubai.
Bank of Baroda has several targeted services towards the Indian workers who are staying either temporarily or permanently in Dubai. They offer them several sorts of accounts, saving plans such as savings deposit, recurrent deposit, current deposit or term deposits, all serving the same cause, which is initially saving but through various different ways. In its Deposits unit, the bank deals exclusively with loans such as retail and commercial lending. Especially their commercial lending services are popular having most Indians living in Dubai as businesspersons operating smaller or larger businesses. Apart from the day-to-day services Bank of Baroda also deals with Treasury and Safe (Locker) services.
Knowing that most workers who are based in Dubai send money back home, sometimes every week, Bank of Baroda has outworked its specific money transfer services from Dubai to India called Rapid Funds 2 India. Although it is not said that Bank of Baroda deals specifically with Indian clientele, as in real there is no such thing written anywhere, but this bank is primarily for Indians who live outside of India.