Bank of Baroda Launches bob PAL for Instant Investment-Backed Liquidity

Bank of Baroda has introduced a new borrowing service called bob PAL.

It lets customers use some investments as security for a loan.

Eligible investments include shares, mutual funds, bonds, debentures and Sovereign Gold Bonds.

Customers can borrow between Rs 1 lakh and Rs 5 crore.

For amounts up to Rs 1 crore, they can apply digitally.

They can use the money for short-term personal or business needs.

They do not have to sell their investments to get the money.

They pay interest only on the amount they actually use.