Bank of Baroda UK Review

Bank of Baroda is an Indian Bank that has grown from strength to strength over the years and it now has a presence in 25 countries worldwide. Bank of Baroda UK has been operating since 1957. We have researched some of the best financial products on offer from the Bank of Baroda so lets run through them.

Get More from Your Money

Lets start with the current account on offer with Bank of Baroda UK. This account comes with a cheque book, and you can easily open a joint account without the hassles that you will encounter with some other UK banks. You can also choose to open your account in either Euro, US Dollars or Sterling depending on what suits your needs. There is a condition with this current account that you must maintain a minimum balance of £500 at all times or if you have the account in Dollars or Euro then you must ensure you have at least €2000 or $2000 balance.

Bank of Baroda UK offer a competitive fixed rate savings account for 1 year. With this account you initially have to deposit £500 to start the term and you are able to save up to a maximum balance of £200,000. The interest rate is set at 1.5% AER fixed over the full term of the year. You need to be sure upon opening this account though that you will not need access to your money as there is no facility with this account for withdrawing funds during the year long term. The only other condition with this fixed term account is that you are at least 18 year old.

Bank of Baroda's Main Shortcoming

There are a few things that Bank of Baroda UK definitely do not do as well as other banks in the market and online banking is among the most obvious. If you are someone that carries out a lot of your transactions online then a Bank of Baroda UK account may not be for you simply because there are much better online banking options available to you elsewhere.

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