BOB Personal Loan of 4 Lakh

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Kirti Bansal

Kirti Bansal is an esteemed financial expert and accomplished writer, specializing in a range of financial topics, including Financial Services, Investments, Loan Assessments, Mutual Funds, and Banking. With a wealth of experience in the financial industry, she has earned a reputation as a trusted voice! Her expertise serves as a beacon for those navigating the intricacies of finance.

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Piyush Bothra

Chief Financial Officer, Square Yards

Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

The Bank of Baroda’s 4 Lakh Personal Loan is an effective solution for all your financial challenges! Whether you want to club your small EMIs or just want to buy something expensive, this loan will help you get it all. If you want to know more about the BOB personal loan schemes you can scroll through this page curated by Urban Money. We have provided a concise overview of all key elements of the loan. We have also shared a conclusive comparison of personal loans from all reliable financial platforms and banks so that you can make an informative decision.

4 Lakh Personal Loan Bank of Baroda – Highlights

Mentioned below are the key features of the Bank of Baroda 4 Lakh Personal Loan:

Features	Description
Who Are Eligible?	Salaried individuals, self-employed professionals, and business persons
Loan Tenure	Up to 84 months
Margin	N/A
Upfront Fee	N/A
Collateral/Security	Not required

4 lakh Personal Loan EMI for 1- 5 & 10 Years

Trying to figure out how much time and money fits in your pocket? Well, here is a table for you to make it easy!

Loan Tenure	EMI	Total Interest Payable	Total Payment
1 year	₹35,204	₹22,443	₹4,22,443
2 years	₹18,495	₹43,878	₹4,43,878
3 years	₹12,944	₹66,001	₹4,66,001
4 years	₹10,183	₹88,808	₹4,88,808
5 years	₹8,538	₹1,12,294	₹5,12,294
6 years	₹7,451	₹1,36,453	₹5,36,453
7 years	₹6,682	₹1,61,278	₹5,61,278

Compare 4 Lakh Personal Loan from other banks & NBFCs.

Here’s how the Bank of Baroda personal loan of 4 lakh fares against other prominent banks and NBFCs(Non-Banking Financial Corporations) in the market:

Name of the Lender	Interest Rate
Axis Bank	10.49% onwards
IndusInd Bank	10.50% onwards
IDFC First Bank	10.75% onwards
HDFC Bank	10.50% onwards
ICICI Bank	10.65% onwards
Kotak Mahindra Bank	10.99% onwards

Remember, you can always use Urban Money’s Personal Loan EMI calculator to assess your monthly EMI.

4 lakh Personal Loan Bank of Baroda – Charges

Let us check out the various charges applicable on the instant 4 lakh loan from Bank of Baroda:

Fee/Charge	Amount
Processing Fee	1-2% of loan amount
Prepayment Charges	Nil for floating rate, up to 4% for fixed rate
Late Payment Fees	2% per month on overdue amount
Fee/Charge	Amount
Processing Fee	1-2% of loan amount

4 lakh Personal Loan Bank of Baroda- Documents Required

The following is the complete list of documents required for a 4 lakh Bank of Baroda personal loan:

Identity Proof:
- Aadhaar Card, PAN Card, Passport, Voter ID or Driving License.
Address Proof:
- Passport, Driving License, or Registered Rent Agreement.
Income Proof:
- Bank statement covering the last 6 months
Employment Proof:
- Last 3 months’ salary slips.
Self-employed individuals:
- Balance sheet and profit and loss account, computation of income for last 1 year
- Income Tax Returns – last 1 year for Applicants, 26 AS, Traces
- Gomasta License, Registration Certificate, Service Tax, etc.

4 lakh Personal Loan Bank of Baroda – Eligibility Criteria

The following are the eligibility criteria for a Bank of Baroda personal loan of 4 lakh:

Age: 21 to 60 years
Income: More than Monthy EMI
Individuals must have at least 1 year of work experience.
Individuals must have a good credit score and impeccable repayment history.

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Frequently Asked Question (FAQs)

What is the BOB monthly interest on a 4 lakh personal loan?

BOB monthly interest on a 4 lakh personal loan starts from 10.50%.

Can I get a 4 lakh personal loan from BOB?

Yes, you can apply for a 4 lakh personal loan from the Bank of Baroda. The approval will depend on your eligibility, including factors like income and credit score.

How to get a 4 lakh loan without a salary slip in BOB?

To get a 4 lakh loan without a salary slip in BOB, you may need to explore options like a personal loan for self-employed individuals or business owners. Provide documents such as ITR, business proof, bank statements, and other financial records to demonstrate your income and repayment capacity.

What is the CIBIL score for a 4 lakh personal loan for BOB?

The need for a CIBIL score varies as per the loan amount. However, keeping it above 750 is recommended to get a low-interest rate on your BOB 4 lakh loan.