Bank of Baroda Personal Loan

Features and Benefits of Bank of Baroda Personal Loan

Headquartered in Vadodara, the Bank of Baroda is a nationalised bank under the regulations of the Reserve Bank of India. It is the third-largest bank in India and is widely spread across seventeen countries. Bank of Baroda offers a varied range of financial products to its customers.

The personal loan offered by the bank provides unsecured financial assistance at nominal and competitive interest rates to both salaried and self-employed individuals. It aims to provide its customers with an optimum experience via extended repayment tenures and instant loan disbursals.

• Interest rates range from 8.65% to 16.00% p.a.
• Extended repayment tenure that goes up to 5 years
• Customised loans of up to INR 15 lakhs
• Bank of Baroda offers varied repayment options to make financing easy for its customers. You can opt for cash, cheque or bank transfers. An individual can benefit from added advantage by opting for repayment via credit cards.
• It offers customised loans of up to INR 15 lakhs to rural and urban cities.
• Self-employed and salaried individuals can avail of this loan by meeting the eligibility criteria specified by the bank.
• The personal loan acts as a safety net for all your financial needs. It offers instant disbursals and rapid processing to make financing hassle-free.
• You can repay your loan at your pace with an extended repayment tenure of 5 years.

Eligibility Criteria of Bank of Baroda Personal Loan

Listed below are the eligibility criteria for the different applicants for the Bank of Baroda Personal Loan.

Salaried Employees

Bank of Baroda offers personal loans to individuals working in private limited companies, public sector undertakings, proprietorship firms or LLPs.

Self-Employed Professionals

Bank of Baroda offers tailor-made personal loans to doctors, engineers, company secretaries, architects, interior designers and chartered accountants.

Self-Employed Non-Professionals

Bank of Baroda offers personal loans to business owners and insurance agents to help maintain uninterrupted cash flow in the business.

Note: Co-applicants are not allowed for BOB personal loan applications. Staff members and NRIs are not eligible.

Guidelines for Bank of Baroda Personal Loan Eligibility

Minimum and Maximum Personal Loan Amount Sanctioned by Bank of Baroda

The minimum and maximum loan amounts sanctioned by the Bank of Baroda differ as per the location of the applicant.

Documents Required for Bank of Baroda Personal Loans

Listed below are the documents required by salaried and self-employed individuals for the Bank of Baroda Personal Loan application.

Salaried Employees

Self Employed Individuals

Bank of Baroda Personal Loan EMI Calculator

The Bank of Baroda Personal Loan EMI calculator is an online tool that assists you in calculating the estimated monthly EMIs. The user-friendly calculator helps plan your finances in an organised manner. Drag the sliders and select the loan amount, interest rates and tenure. A bar graph indicating your monthly repayments will be displayed on your screen.

How Does Bank of Baroda Personal Loan Compare With Other Lenders?

Bank of Baroda Personal Loan Customer Care