How to Bank of Baroda personal loan
With attractive interest rates, easy documentation procedures and flexible repayment options, Bank of Baroda personal loans are great options for your immediate financial needs. Interest rates starting from 10.50% and tenures extending up to 5 years.
Bank of Baroda Personal Loan Details
|10.50% p.a. – 12.50% p.a.
|Rs.1,000 to Rs.10,000
|5 years for government employee4 years for others
BOB Interest Rates and Charges
For existing customers with an account relationship of at least 6 months: BRLLR + SP + 3.25% TO BRLLR + SP + 6.85%
For applicants who have an account with any other bank for at least 6 months: BRLLR + SP + 5.25% TO BRLLR + SP + 8.85%
For Central/ State government employees/ Autonomous bodies/ joint sector undertakings having one year service and salary account with BOB: FROM BRLLR + SP + 3.25% TO BRLLR + SP + 6.85%
Bank of Baroda Personal Loan Key Features 2023
|21 – 60 Years
|CIBIL score Criteria
|Minimum 750 or above
|Bank of Baroda Personal Loan Interest Rate
|Lowest EMI per lakh
|48 to 60 months
|Bank of Baroda Personal Loan Processing Fee
|Part Payment Charges
|Minimum Loan Amount
|Maximum Loan Amount
|Rs. 10 Lakh
Bank of Baroda Personal Loan Rate of Interest
Today, Bank of Baroda Personal loan interest rate is 10.50%p.a, with the lowest rates offered to existing customers of the bank with a strong CIBIL Score and those working with reputed corporate with a stable employment history.
Bank of Baroda also runs special schemes for defence, armed forces, and government employees. The personal loan interest rate for government employees and defence personnel is different from private salaried employees.
Bank of Baroda Personal Loan Status
Simply just enter the required details and keep track of it at any stage. Just by entering the Applicant Name, Proposal Number, or mobile number, you will simply stay updated with your loan status.
Bank of Baroda Personal Loan Eligibility Criteria
Eligibility criteria for a personal loan:
|750 and Above
Bank of Baroda Personal Loan Fees and Other Charges
|Bank of Baroda Personal Loan Interest Rate
|Bank of Baroda Processing Personal Loan Charges
|1% of the Loan Amount
|As per state laws
|Cheque Bounce Charges
|As per bank terms
|2% of the outstanding amount
|Floating Rate of Interest
Bank of Baroda Personal Loan Documents Required
|Duly filled application form
|Proof of Identity
Voter ID Card
|Proof of Address
|Rent Agreement (Min. 1 year of stay)
Passport (Proof of permanent residence)
|Proof of Income
| ITR: Last two Assessment years
Salary Slip: Last 6 months
Bank Statement: Last 3 months
Bank of Baroda Personal Loan EMI Calculator
Bank of Baroda Personal Loan Compared to Other Banks
|Loan Amount & Proc Fee
|Bank of Baroda
|12 to 48 months
|Up to Rs. 10 lakh / Up to 2% of the loan amount
|Bank of Baroda
|10.50% to 21.50%
|12 to 60 months
|Up to Rs. 40 lakh / Up to 2.50% of the loan amount
|Starting from 12.99%
|12 to 60 months
|Up to Rs. 25 lakh / Up to 3.99% of the loan amount
|7.35% to 24%
|12 to 60 months
|Rs. 50,000 to Rs. 15 lakh / Up to 2% of the loan amount
|Starting from 10.99%
|12 to 60 months
|Up to Rs. 30 lakh / Up to 3% of the loan amount
|10.50% to 19.25%
|12 to 60 months
|Upto Rs. 20 lakh / Up to 2.25% of the loan amount
How to Calculate EMIs for your Bank of Baroda Personal Loan
Use the following parameters to calculate your EMIs
- Amount of the Loan
- Rate of Interest
Enter the values in the calculator below and find your monthly EMIs
Bank of Baroda Personal Loan Processing Time
Personal Loan application in Bank of Baroda is processed within a week, but, if you are one of the account holders and existing customers of the bank, your loan application will be processed within 48 hours.
Bank of Baroda Personal Loan Preclosure Charges
If you feel the need to close your loan before the end of its tenure, you can do so at absolutely no extra charges. Bank of Baroda charges zero prepayment and foreclosure fees from its borrowers.
Documents Required for Preclosure of Personal Loan
Generally, the following documents are required to foreclose your Bank of Baroda personal loan:
- A valid photo identity proof
- Loan Account Statement
- Cheque/ demand draft/ cash to make the payment
Bank of Baroda Personal Loan Foreclosure Benefits
Given below are a few key benefits of foreclosing your Bank of Baroda personal loan:
Foreclosure / Full Prepayment
- Helps you save on the overall interest payout.
- Frees you from the burden of regular loan repayments.
- It enables you to save on the interest component.
- You also have the advantage of either paying a reduced EMI amount or having a shorter loan tenure.
Bank of Baroda Prepayment Facility
Bank of Baroda also offers a prepayment facility to help the customers pay off the entire outstanding or a part of it. If you have a surplus amount of money in hand and meeting the below criteria then you can pay a part of your principal outstanding amount to reduce the same.
This will also help in saving interest accrued on the principal amount. Know more about this facility below.
- Prepayment will be allowed subject to the successful payment of the first 12 EMIs
- Prepayment will be allowed a maximum of twice during the entire tenure of the loan
- Prepayment is allowed only once a year
- At any point in time, the prepayment will not exceed 25% of Principal Outstanding
Charges to be paid on Prepayment
- 13-24 Months – 4% of the outstanding loan balance
- 25-36 Months – 3% of the outstanding loan balance
- More than 36 Months – 2% of the outstanding loan balance
Pre Calculated EMI for Bank of Baroda Personal Loan
*Note – All EMIs are calculated for a Loan Amount of Rs. 1 Lakh.
Bank of Baroda Personal Loan for Salaried Employees
Bank of Baroda offers Personal Loan for Salaried Employees at attractive rates of interest. The amount that you get a loan depends on the Company that you work for, your take-home salary of the employee, and the city of residence of the employee.
Bank of Baroda offers these loans for a tenure of 12-60 months and provides instant approval along with funds to pre-approved customers.
Bank of Baroda Personal Loan for Self Employed Individuals
Bank of Baroda Personal Loan for Self Employees is a loan product offered to self-employed individuals and in need of funds. The bank provides them with attractive rates of interest on their personal loan and tenure of 12-60 months.
But, as compared to Salaried Employees, you have to present more documents here as you need to provide the bank with sufficient documents related to your business to prove its continuity as well as your steady income.
Bank of Baroda Personal Loan for TCS Employees
- Exclusive personal loans with a reasonable interest rate of 11.25% p.a.
- EMI for personal loans starts at Rs.2178 per lakh when terms and conditions are met.
- The hassle-free documentation process for TCS employees.
- Pre-approved personal loans for eligible TCS employees.
- Interest rate starting at 11.99% p.a for superbike loans.
- Great offers on home loans with an interest rate of 9.45% p.a and discount interest rate for women at Rs.9.40% p.a.
Bank of Baroda Moratorium Process
The process to stop your loan EMIs at the Bank of Baroda is as follows-
- Visit the Bank of Baroda website or use the mobile app
- Click on the link where the option of moratorium period is popping out
- On the application page, mention your registered mobile number, name, email address
- After that enter your date of birth and select the type of loan.
- Enter your loan number and mention your EMI amount
- Then make a decision and choose a suitable service
- Click on the EMI deferment option that says I agree to pay the accrued interest on the outstanding balance
- Click on the ‘Submit’ button
- The bank will check the details thoroughly and process your moratorium request
- You’ll be given a reference upon the successful completion of the process. on your registered mobile number and email address
But, if you don’t want to defer EMI, you must click on the second option after the deferment option. This will ensure EMI payments are as scheduled with no extra interest charged on them.
Select the defer option if your answer is yes otherwise your EMI debited as it was doing in the past
Bank of Baroda representatives can also get in touch with you via WhatsApp or call regarding the moratorium process.
Bank of Baroda Personal Loan Special Pricing
If a customer is looking for INR 15 lakh of the loan amount or more than that below rates would be applicable.
|Processing Fee (+GST)
|Loan amount >=15 lakh*
*Terms & conditions apply
This offer is not applicable for Top-up/ Enhancement/ Existing loan amount closure.
If a customer is looking for a Balance transfer and a fresh loan of above INR 10 lakh above, the below offer is available.
|Processing Fee (+GST)
|Loan amount >=10 lakh*
*Terms & conditions apply
- Not applicable on Existing loan closure
- Not applicable for Credit card BT
How to Manage a Personal Loan Efficiently
Here are the 4 tips that will help you manage your loans:
1. Pay On-Time –
The first step is to avoid late fees and penalties. The best way to do this is by paying your monthly payments on time every month. This also hits the credit score. These are needless and all too common consequences that will work against your financial condition. If you have just taken a personal loan or are about to, the best way to manage your loan is by making a monthly payment on your loan as soon as you receive the loan. By being a payment ahead of your instalment plan you will have a buffer against a missed payment.
2. Pay More Than Your Minimum –
Paying in adance is a good option for managing your plans but paying a little extra every month keeps you ahead of your loan term and provides you with some other financial bonuses. Moreover, paying extra on your loan reduces the length of the repayment plan.
This will help you clear your loan and allows you to regain your financial independence sooner. It will also reduce the rate of interest you owe and thus, saving you money in the long run. Paying off your debts faster also leads to an improvement in your credit score. A lower credit score will benefit you in several ways, like dropping down payments and rates of interest.
3. Consolidate Your Loans –
For debtors managing multiple personal loans, consolidation could be the best way to simplify your debt repayment. Debt Consolidation is when you take a large loan to repay all the other loans you have taken.
So, instead of paying multiple lenders every month with different rates of interest and needs, one can make a single payment to one provider.
Debt Consolidation helps if you can save an interest rate on a new loan that is lower than the average interest rate of the earlier loans. The disadvantage that lies here is that one will likely end up having to reimburse the debt quicker than before.
Before consolidating your debt, make sure that you can make the payments on a new loan. This may also help to reimburse large portions of your loans on credit rather than with a single loan, consolidating it into more controllable pieces.
4. Credit Score –
Always keep a close watch on your credit score while reimbursing a personal loan. The credit score plays a major role in finances and has an important relationship with the loans taken out. How you manage your loans is reflected in your credit score. On the other hand, falling behind on your payments will subordinate the credit score. Thus, a higher credit score is important.
Different Personal Loan offers by Bank of Baroda
Bank of Baroda Marriage Loan
Bank of Baroda offers Personal Loan for Marriage to help people who are facing a shortage of funds for their or their close one’s marriage. There is no restriction on using this loan amount and can be used for anything from wedding banquets to makeup or stylists, etc.
You get these amounts quickly within seconds if you are a pre-approved customer with the bank or as quickly as 4 hours in some cases. The bank charges an attractive interest rate and gives you the option of choosing the loan tenure.
Personal Loan for Government Employees
Individuals working in the public sector and defence get added benefits and lower rates of interest for their personal loan needs. Bank of Baroda has different offers for all the government employees.
Bank of Baroda Personal Loan Offers for Government Employees:
|Offers By Government
|Number of Companies
|Processing Fee(% of the Loan Amount
|Miniratna, Navratna, and Maharasthra
|Employees from the Railway Department
|CISF, CRPF, ITBP, SSB and BSF
State and Central Government Officers:
|Government Officer Division A (GA) and Division B (GB)
Personal Loan for Doctors
Doctors (at least 4 years of professional practice) can apply for a personal loan and get offers and rates specially tailored for their personal and professional needs.
Personal Loan for Pensioners
Elderly citizens who draw their pensions from Bank of Baroda account can apply for personal loans to meet their financial needs at interest rates and tenure that are easy on the pocket.
Bank of Baroda Personal Loan Balance Transfer
When one wants to switch your existing lender to the one with lower rates of interest or better terms, one can apply for a personal loan balance transfer. Your new lender will pay your loan to the old lender and provide you with better terms and rates.
Bank of Baroda Personal Loan Top Up
You can apply for a personal loan top up if you feel the need for additional money. It is a better and convenient option rather than having to apply for a fresh loan.
Bank of Baroda Overdraft Scheme
For simplifying the process and providing you with a hassle-free service while processing an overdraft scheme at Bank of Baroda is provided, it gives you an online way to get your own overdraft, also known as Smartdraft – Overdraft Against Salary. You do not need to visit bank branches and go through a boring process. Just log in to the Bank of Baroda online banking portal and from there you can fill out a simple form and get an overdraft under your name.
Bank of Baroda Home Renovation Loan
Bank of Baroda offers an attractive deal on a Home Renovation Loan that covers every aspect of refurbishment from repainting to new instalments in your house. The most efficient loan to get any sort of renovation done at your place that offers a favourable interest rate on the loan advance. The key features of this loan advance are as given below:
- The loan is free from any end-use restriction.
- The suitable interest rate that ranges from 8.00% per annum to 9.25% p.a.
- Repayment tenure offered is up to 36 months.
Bank of Baroda Holiday Loan
Who doesn’t love holiday with the loved ones, Bank of Baroda understands solves many needs from travelling to lodging the holiday loan covers it all.
Now one don’t have to hinder your desire to roam around the places without worrying about finances. Given below are the key features of the Bank of Baroda Holiday Loan:
- The loan gets instantly approved within a few minutes of registration.
- The disbursement process is concise and quick.
- The repayment tenures are flexible.
- The credit application is available online and is easy to track.
Bank of Baroda Fresher Funding
Bank of Baroda offers a special credit for graduate candidates who are on the brink of realizing their dream careers. With the help of Fresher Funding, one can easily take funds for establishing a career in the new city. Given below are the key highlights of the Fresher Funding:
- The credit provided to the candidate is in accordance with their requirement.
- The minimum age of the applicant must be 21 years for such an individual loan.
- Interest rates payable on such individual loans vary based on the Applicant’s profile.
Bank of Baroda NRI Personal Loan
Bank of Baroda considers the needs of all customers whether Resident Indian or NRI, among various reasons for NRIs to migrate education, job, etc. top the priority list.
Thus, NRIs often struggle with the funds when they move this individual advance got you covered wherever you move the funds are made available for you under certain conditions. The below are the mentioned features of Bank of Baroda NRI Personal Loan:
- The interest is highly preferential based on the amount and tenure.
- There is no requirement of any collateral and the process is not at all complex.
- The documented evidence of the Primary borrower that is resident along with the proof of co-applicant that is NRI requires to be submitted.
Pre-closure of Bank of Baroda Personal Loan
Bank of Baroda allows the borrowers to pre-pay their personal loan after the completion of a specific time period at some additional foreclosure charges. However, there are a few Yes personal loan preclosure criteria that you need to meet to close the account.
- Preclosure of Bank of Baroda personal loan will be allowed any time during the entire loan tenure after at least 1 instalment is paid by the borrower.
- For pre-paying or pre-closing your Bank of Baroda personal loan, you will have to repay the total outstanding amount along with all other applicable charges
- You have to pay 5% of the loan amount that is outstanding after the payment of the EMIs along with taxes before closing your personal loan as preclosure charges.
Bank of Baroda Personal Loan Process Steps
Step 1: Determine your requirement.
Figure out why you need a Personal Loan and how much you need. For example, you may need a loan to fund your wedding or to renovate your home. And you may need just Rs. 1 lac or Rs. 10 lac.
Step 2: Check loan eligibility
Once you know how much you need, you should check whether you are eligible. You can visit the Bank of Baroda Personal Loan Eligibility Criteria online, to find out how much you can borrow as a Personal Loan. Bank of Baroda offers loans up to Rs. 40 lac.
Step 3: Calculate monthly instalments –
Use an online EMI tool to calculate your approximate loan repayments every month. You can modify the interest rate and tenure to match your monthly income, like on the Bank of Baroda Personal Loan EMI Calculator. Bank of Baroda offers pocket-friendly EMIs on all its Personal Loans starting at Rs. 2149 per lac * (T&C).
Step 4: Approach the bank –
You can apply for a Personal Loan with the Bank of Baroda in various ways: Via Net Baning, online on the Bank of Baroda website, at an ATM, or by visiting a branch.
Step 5: Submit documents -.
Next, find out what documents are required for a Personal Loan. You will usually need income proof (bank statements, salary slips or IT returns), address proof, and ID proof. Hand over copies of your Personal Loan documents at the bank.
Wait for funds to be remitted to your account. Bank of Baroda disburses funds for pre-approved loans to customers in 10 seconds*, and for non- Bank of Baroda customers in 4 hours*.
That’s how to get a Personal Loan in 5 easy steps!
Bank of Baroda Personal Loan Prepayment Charges
If you are a salaried applicant, you can pre-pay your Bank of Baroda Personal Loan only after paying 12 equated monthly instalments completely.
The pre-payment charges for salaried applicants are as follows:
- 4% of the outstanding principal amount for 13 to 24 months.
- 5% of the outstanding principal amount for 25 to 36 months.
- 2% of the outstanding principal amount for more than 36 months.
How to apply for personal loan in Bank of Baroda
To apply for a Bank of Baroda Personal Loan, there is a list of steps that you should follow to facilitate your loan approval process.
- Visit Bank of Baroda Branch or reach us at ourfacebook page .
- Compare and choose the right loan for yourselves.
- Fill an online form with your personal and employment specifications for the Bank of Baroda Personal Loan
- After filling the form, you can check the eligibility criteria and interest rates online.
- Once you’re done with the submission, our customer relationship managers will connect with you for assistance.
- Make sure that you’re eligible for the loan.
- Ultimately, your loan gets approved within no time.
- For more knowledge, you can visit your nearest Bank of Baroda branch or call
Personal Loan Verification Process
Below are the mentioned Verification steps that the Personal Loan Application goes through after applying for a Personal Loan with us:
- Step 1: We direct the Personal Loan application form to the selected finance institute for verification process after which the borrower receives a call from the lender typically within 48 hours.
- Step 2: The imminent loan lender then determines the pick up of basic documents for verification such as KYC, income, etc. or you will be provided with the option to upload the documents online. Which later goes past further verification.
- Step 3: As soon as the substantiation is done another alert for loan amount confirmation is done and thus, consensual disbursal of the advance takes place.
- Step 4: Once the verification and confirmation are affirmed the loan advance is disbursed within 48 hours.
Why shall you apply for a Bank of Baroda Personal Loan with us?
Our partners help you find products as per your financial needs. With us, you can compare rates and offers from different banks and NBFCs and choose the product that is suitable for you. We provide convenient and trustworthy services.
Bank of Baroda Personal Loan Status
Bank of Baroda in a very selective manner provides you with the option to navigate through your loan application and stay updated on its tracking. Given below are the options to check the application status for a Personal Loan:
- This process can be completed using Bank of Baroda net banking.
- Visit the official website of Bank of Baroda and with access to your details log in and check the status.
- You can also stay updated through telephonic updates by the Bank of Baroda Customer Care.
- Visit the Bank Branch in person.
How to Login to Bank of Baroda Portal
The Bank of Baroda possess a secured e-platform for banking and other services, the process to log in to the portal is as follows:
- Visit the Official website of Bank of Baroda and select login.
- Under the “for customers ” will display a drop-down list and fill the login details with appropriate credentials.
- Now using your customer ID and passcode just log in and get access to the BoB e-banking.
Bank of Baroda Personal Loan Statement
The borrowers get access to both offline and online ways to stay updated on Personal Loan Statement:
- In case you have easy access to the Bank of Baroda e-banking portal then you just have to download the statement online and Keep for the future purpose.
- If the borrower wishes then the physical copy of the statement can easily be extracted from the Bank Branch itself. Although the copy might charge some amount from the borrower.
Bank of Baroda Personal Loan Restructuring (COVID-19)
The pandemic situation had put most lending institutes in a state of conundrum. To solve the unforeseen situation the RBI had mandated a moratorium of 3 months as per the guidelines, the Bank of Baroda declared loan deferment for the Loan Borrowers of Bank of Baroda starting from date 1 March 2020.
The second moratorium was announced from 1 June 2020 till August 31, 2020, to ease the tensions of borrowers already hostile in such a catastrophic situation. This moratorium sets the borrowers free from the obligation to make the EMI repayment up to date. The EMI schedules were determined to retrieve after the moratorium period is over.
However, the deferment on outstanding loans had certain consequences to deal with. The mechanism was termed Restructured Loan that had a specific remark on the Credit Score of the underlying borrower.
Bank of Baroda Customer Care
The Bank of Baroda borrowers can get in touch with the bank in the following ways:
- On-call: You can get in touch with the customer relationship manager on call at 1800 102 4455
- Branch Visit: You can visit the Bank Branch in your city in case you are seeking any assistance.
Benefits of applying for Bank of Baroda Personal Loan on National info
- The entire process is online which therefore stamps out the need to physically visit the bank for any information or assistance.
- The concierge services are available 24*7 for customers. Loan processing can be done anytime and anywhere without any hindrance.
- The Dialabank online service lets you compare different banks and lenders based on the loan amount, interest rates, processing fees, foreclosure charges, etc.
- The online application is trackable hence, the applicant stays updated on every detailed application.
How to get the best offer on a Bank of Baroda Personal Loan?
An individual can get the best personal interest rates from the Bank of Baroda subject to an assessment of your loan amount, salary, other obligation company you work with, and loan tenure.
The following factors determine the personal loan rate of interest you can expect to get from the Bank of Baroda:
- Loan Amount – This is the amount borrowed by a borrower from the bank. Generally, banks offer lower interest rates for higher amounts. Bank of Baroda offers loans between ₹ 50,000 and ₹ 40 Lacs.
- Salary – Income defines your capacity to repay the loan. Higher salary bracket individuals are offered loans at lower interest rates. The interest rate of the bank varies with your net monthly income.
- Employer Category – Bank of Baroda has an internal list of companies falling into categories that are ranked from high to low company categories based on the company’s size, reputation, and existing relationship with the bank. Employees who belong to companies in higher company categories get attractive discounts and low-interest rate loans.
- Relationship with the Bank – Bank of Baroda offers special rates, offers, and charges to the existing account holders of the bank. Those who have managed their accounts and made all the payments on time in the past will get the benefit of a low Bank of Baroda loan interest rate.
- Loan Tenure – Personal loans are of shorter tenure ranges from 12 months to 60 months as they are taken to meet their immediate requirements.
- Repayment Capacity – Before giving a loan to the borrower, the Bank of Baroda checks the repayment capacity of the borrower. Bank verifies the repayment capacity of the customer through CIBIL as it has the repayment track record of previous loans taken. CIBIL also captures information on credit card bills payment.
How does Bank of Baroda Personal Loan work?
Here is the process:
|Maximum Annual Percentage Rate (APR)
|11% to 22.5%
|A representative example of the total cost of the loan, including all applicable fees
|Here is an illustration of the total cost of the loan:Total amount borrowed: ₹ 1,00,000Time period: 12 Months to 60 Months Bank of Baroda Personal Loan Interest Rate: 10.50% to 22.00%Processing Fee payable to Upto ₹ 2,500Fee payable to MyLoanCare: NILTotal Monthly Cost – From ₹ 2,149 for 60 Months ₹ 1,00,000 loan at 10.50% (lowest rate, longest time period) to ₹ 9,359 for 12 Months ₹ 1,00,000 loan at 22.00% (highest rate, shortest time period). This is inclusive of principal repayment.Annual Percentage Rate (APR) of charge including all applicable fees: 11% to 22.5%Total cost payable over loan tenure: ₹ 8,278 for 12 Months loan to ₹ 31,463 for 60
- Before you move to the approval of a Personal Loan you should first go through the interest rates and other services charges offered by different financial institutions.
- A complete evaluation of the loan is very necessary. That covers every aspect related to the loan i.e. Interest rates, Processing Fees, Foreclosure Charges, late payment charges, etc. that impact the decision made on the particular loan approval.
- Avoid applying for different loans in different banks altogether. This adversely impacts your credit score as hard inquires are reported against your profile that in turn impacts the existing credit score.
- A look into your Credit Score before loan registration would turn out helpful as in case of a faulty credit score the loan application suffers consequent rejection.
FAQ Bank oF Baroda
What is the minimum loan tenure for Bank of Baroda personal loans?
The minimum loan tenure is 12 months.
What will the lowest EMI be for BOB personal loan worth Rs.1 lakh?
If you go for a BOB personal loan worth Rs.1 lakh, your lowest EMI will be Rs.2,149.
What is the maximum loan tenure for Bank of Baroda personal loans?
The maximum loan tenure is 60 months for employees working in government sector. For others it is 48 months.
Am I allowed to include my spouse’s income when I want to apply for a Bank of Baroda personal loan?
Yes, you can include your spouse’s income when you have to improve your loan eligibility in order to apply for a BOB personal loan.
What is the processing fee that I will have to pay for my Bank of Baroda personal loan?
The processing fee for your BOB personal loan will be 2% of loan amount along with the service tax.
What is the minimum loan quantum for applicants in metro and urban areas?
The minimum loan quantum is Rs.1 lakh.
What is the maximum loan quantum for applicants in metro and urban areas?
The maximum loan quantum is Rs.10 lakh.
What is the minimum loan quantum for applicants in semi-urban and rural areas?
The minimum loan quantum is Rs.50,000.
What is the maximum loan quantum for applicants in semi-urban and rural areas?
The maximum loan quantum is Rs.5 lakh.
Can I get the assistance of a co-applicant to apply for a BOB personal loan?
No, Bank of Baroda accepts personal loan applications only from a single individual. The bank does not allow co-applicants to apply for a personal loan.
What is the minimum age requirement for a BOB personal loan?
You will have to be at least 21 years to apply for BOB personal loan.
How will the loan quantum be decided for a BOB personal loan?
The loan quantum limit will be fixed according to the classification of the financing branch of the bank.
If I am an insurance agent, can I apply for a BOB personal loan?
Yes, you can apply for the loan if you are an insurance agent if you have been doing business for at least 2 years.
If I am a staff member of Bank of Baroda, can I apply for a BOB personal loan?
No, the bank does not allow staff members to apply for this loan product.
What is the maximum repayment period if I am working with the central or state government or public and joint sector undertakings?
The maximum repayment period is 60 months.