BOB Government Employees Personal Loan

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Utsah Sharma

Utsah Sharma is a seasoned financial expert with a Master’s Degree in Commerce specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & Loan products. Drawing on her experience, she has established herself as a trusted voice, providing invaluable insights and guidance to seasoned investors and beginners. She is committed to breaking down the complexities of everything finance.

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Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

Bank of Baroda (BOB) recognises the unique financial needs of government employees and offers a personal loan scheme specifically designed for them. This scheme provides access to affordable financing solutions with preferential interest rates, flexible repayment options, and simplified documentation processes. Whether you need funds to meet unexpected expenses, consolidate debts, or fulfil a cherished dream, the BOB government employees personal loan empowers you to take control of your finances and achieve your aspirations. With its commitment to supporting government employees, BOB offers a reliable and convenient way to manage your financial needs while focusing on your service to the nation.

BOB Personal Loan for Government Employees – Highlights

The following are the key parameters of BOB government employees’ personal loans:

Highlights
Maximum Loan Amount	20 Lakhs
Bank of Baroda for Government Employee personal loan Interest rate	10.35% to 10.95%
Loan Tenure	30 years
Eligibility	Salaried

Comparing BOB Government Employees Loan With Other Banks

Compare BOB government employees’ personal loans with other leading banks and NBFCs across India.

Lender	Interest Rate (p.a.)	Processing Fee	Max. Loan Amount	Max. Loan Tenure
State Bank of India	10.55% onwards	Up to 0.75% of the loan amount	Rs 35 lakh	6 years
Axis Bank	10.49% onwards	Up to 2% of the loan amount	Rs 40 lakh	7 years
HDFC Bank	10.50% onwards	Upto Rs 4999	Rs 40 lakh	6 years
Union Bank	10.60% onwards	0.50% of the loan amount	Rs 15 lakh	6 years
IDBI Bank	9.50% onwards	1 % of the loan amount	Rs 5 lakh	6 years
Kotak Mahindra Bank	10.99% onwards	Up to 3% of the loan amount	Rs 40 lakh	6 years
Tata Capital	10.99% onwards	3.5% of the loan amount	Rs 35 lakh	6 years

BOB Personal Loan for Government Employees – Fees and Charges

Here are the applicable fees and charges for a BOB instant loan for government employees:

Fees/Charge	Details
Processing Fee	NIL for government employees with an account in the Bank of Baroda. 1% to 2% for others The fee can range from INR 1000 to INR 10,000.

BOB Personal Loan for Government Employees – Documents Required

Here are the required documents you may submit along with your BOB government employee personal loan application:

Proof of Identity: Aadhaar card, PAN card, passport, voter ID, or driving licence.
Proof of Address: Utility bills, passport, or driving licence.
Proof of Income: Latest salary slip

BOB Personal Loan for Government Employees – Eligibility Criteria

The criteria for being eligible for BOB personal loans for federal employees are as follows:

The candidate needs to work for the government.
There must be a BOB salary account for the candidate.
A minimum monthly salary of Rs. 15,000 is required of the applicant.
The age range for a candidate must be between 21 and 60.
The prospective applicant’s net monthly income, or NMI, must be less than 50% of the EMI/NMI ratio.