BOB Personal Loan of 4 Lakh

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.