The Bank of Baroda personal loan has now taken a renewed look making getting the loan easier for all. The COVID-19 pandemic has turned the tables and caused a lot of havoc and uncertainty for all. The Bank of Baroda bank has increased the limit of loan reimbursement for their personal loan clientele. The customers now have a provision to take the loan for a minimum of Rs. 1 lakh to a maximum of Rs. 5 lakh. With the pandemic walking hand in hand and the financial instability that a lot of people went through, Bank of Baroda is trying their level best to retain their pre-existing customers in addition to garnering more customers. They have also given their personal loan customers an option to remodel their loan agreement so that maximum benefits can be drawn.
The bank recently canceled all prepayment charges for a personal loan borrower, they can close their loan accounts without worrying about extra prepayment charges. The Bank updated on their website their newly added temporary liquidity policy. The borrower needs to understand that their liability towards the bank will only end after the full loan amount along with the interest amount is repaid. The bank has reserved the right to discreetly increase or decrease the EMI to accommodate the increase or decrease of the repayment money. The increase in interest rate may increase the amount to be paid back by the customer.
Along with availing the benefit of temporary liquidity with a low-interest rate, less processing fee, and relaxed assessment norms, an additional penalty of 2% per annum can be charged in case of non-payment or no payment according to the loan agreement between the borrower and the lender. The bank has given the borrowers an option to customize the loan according to their needs. They just need to keep in mind to pay their dues on time.
Dialabank is here to take care of all your financial needs. We help you connect to the right bank and offer a free of cost assistance. We help you with each step of the loan process. You can do so by visiting our website, www.dialabank.com or call us on 9878981166.