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Bank of Baroda Personal Loans from 10.49%

Apply for a personal loan at Bank of Baroda (BoB) upto Rs. 20 Lakhs and get instant approval. Apply now through their quick and easy process.

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Bank of Baroda Personal Loans

Personal loans from Bank of Baroda are the best solutions to your short term credit needs. Bank of Baroda offers upto Rs. 20 Lakhs without any collateral security and with minimal documentation. Apply now with minimal documentation and fulfil your needs without postponing

Features of Bank of Baroda Personal Loan

The maximum personal loan offered by Bank of Baroda is Rs. 20 Lakhs and the minimum personal loan offer for urban centres is Rs. 1 Lakh and for rural centres is Rs. 50000
BoB offers extended timelines for repayment during certain occasions
BoB offers personal loan to pensioners, ex-defence personnel at special interest rates
The bank offers digitally pre-approved personal loan from Rs. 10000 to Rs. 5 Lakhs
Its higher borrowing amount means that it’s more advantageous than credit cards
Available for salaried and self-employed persons. For self-employed professionals or business persons, they need to have their business or practice for at least one year.
Tenure for personal loan lasts up to 5 years

Eligibility criteria for Bank of Baroda Personal Loan

To apply for BoB personal loan, one must be:

Resident of India and must be minimum 21 years
Employees from Govt/Private/Educational sectors with minimum continuous service of 1 year atleast
Insurance agents doing business for two years atleast
Self-employed professionals such as doctors, lawyers, and management consultants with successful practice of 1 year atleast
Age for salaried person should not exceed 60 years and for non-salaried person, it should not exceed 65

Charges in a Bank of Baroda personal loan

Interest rates	10.75 – 18.5%
Loan Processing Charges	Upto 2% of Loan amount + taxes, For govt employees with salary accounts with BoB, there will be No processing fee
Prepayment charges	Nil
Penal Interest	@24% pa
Loan Tenure	For Govt employees – 5 years, for others – 4 years

Interest rates for Bank of Baroda Personal Loan

Conditions	Interest rates
Govt employees with account in BoB	10.90 to 11.40%
Govt employees with account in other banks	11.9 to 16.25%
Private employees with account in BoB	12.65 to 16.25%
Private Employees with account in BoB	14.65 to 18.25%

Documents required for BOB Personal Loan

For Salaried

Proof of Identity – Passport/Driving License/Voter ID/ PANCard
Residence Proof – Passport/License Agreement
Last 6 months bank statement and updated passbook
Salary slips for 3 months
Duly filled application form along with recent photograph

For Self-employed

KYC Documents – Proof of Identity, Address Proof, DOB Proof
IT Returns for the past one year
Income Proof
Last 6 months bank statement
Business Proof – Gomasta License, Registration Certificate, Service Tax Registration
Proof of Residence of Ownership
Proof of business continuity

Bank of Baroda Customer Care

Customers can reach their helpline at 1800-5700
Email Support – cs.ho@bankofbaroda.com.

Get your loan approved in 4 simple steps

Get your loan approved in 4 simple steps,

Check if you have a pre-approved loan offer from BoB
Submit your personal loan application and check your eligibility
Check your personal approval
If approved and verified, the loan will disbursed in few minutes

What is the repayment tenure available in a BoB?

BoB personal loan tenure ranging from 12 months to 60 months

Does BoB offer instant personal loans?

Yes, BoB offers instant pre-approved personal loans with instant disbursal

Is Co-applicant available for BoB personal loan?

No, there is no co-applicant facility available in a Bank of Baroda Personal Loan

What is the credit score expected to sanction Personal Loan?

Normally, BoB sanctions personal loan to applicants whose credit score is above 701

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