Bank of Baroda Personal Loan

⋆ Interest Rate 9.99% ⋆

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      Why us?

      Rates as low as 9.99%*
      Loans Up to 30 Lacs
      Same Day Disbursal
      Doorstep Service
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      Table of Contents

      Bank of Baroda Personal Loan Key Features Apr 16 2021

      Eligibility Criteria Details
      Age 21 – 60 Years
      CIBIL score Criteria Minimum 750 or above
      Bank of Baroda Personal Loan Interest Rate 9.99% 
      Lowest EMI per lakh Rs. 2560
      Tenure 12 to 48 months
      Bank of Baroda Personal Loan Processing Fee 1% of Loan Amount
      Prepayment Charges NIL
      Part Payment Charges NIL
      Minimum Loan Amount Rs. 50,000
      Maximum Loan Amount Rs. 10 Lakh

      All About Bank of Baroda Personal Loan

      Bank of Baroda Personal Loan Rate of  Interest

      Today, Bank of Baroda Personal loan interest rates is 9.99%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 defense, armed forces, and government employees. The personal loan interest rate for government employees and defense personnel is different from private salaried employees.

      Bank of Baroda Personal Loan Status 

      Now stay updated with the status of your loan. 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:

      CIBIL score 750 and Above
      Age 21-60 years
      Min Income Rs. 25000/month
      Occupation Salaried/Self-employed

       

      Bank of Baroda Personal Loan Fees and Other Charges

      Bank of Baroda Personal Loan Interest Rate 9.99% 
      Bank of Baroda Processing Personal Loan Charges 1% of the Loan Amount
      Prepayment Charges NIL
      Stamp Duty As per state laws
      Cheque Bounce Charges As per bank terms
      Penal Interest 2% of the outstanding amount
      Floating Rate of Interest Not Applicable

      Bank of Baroda Personal Loan Documents Required

      Form Duly filled application form
      Proof of Identity Copy of:
      > Passport
      > Driving License
      > Aadhar Card
      > Voter ID Card
      Proof of Address Rent Agreement (Min. 1 year of stay)
      Utility Bills
      Passport (Proof of permanent residence)
      Ration card
      Proof of Income > ITR: Last two Assessment years
      > Salary Slip: Last 6 monthfs
      > Bank Statement: Last 3 months

       

      Bank of Baroda Personal Loan EMI Calculator

      Bank of Baroda Personal Loan Compared to Other Banks

      Bank Interest Rate Tenure Loan Amount & Proc Fee
      Bank of Baroda 9.99% 12 to 48 months Up to Rs. 10 lakh / Up to 2% of the loan amount
      HDFC Bank 11.25% to 21.50% 12 to 60 months Up to Rs. 40 lakh / Up to 2.50% of the loan amount
      Bajaj Finserv Starting from 12.99% 12 to 60 months Up to Rs. 25 lakh / Up to 3.99% of the loan amount
      Axis Bank 15.75% to 24% 12 to 60 months Rs. 50,000 to Rs. 15 lakh / Up to 2% of the loan amount
      Citibank Starting from 10.99% 12 to 60 months Up to Rs. 30 lakh / Up to 3% of the loan amount
      ICICI Bank 11.50% to 19.25% 12 to 60 months Upto Rs. 20 lakh / Up to 2.25% of the loan amount

      Other Loan Products from Bank of Baroda

      Bank of Baroda Gold Loan Bank of Baroda Car Loan Bank of Baroda Home Loan Bank of Baroda Business Loan
      Bank of Baroda TWL Bank of Baroda LAP Bank of Baroda Credit Card Bank of Baroda Education Loan

      Why shall you apply for a Bank of Baroda Personal Loan with Dialabank?

      Dialabank is India’s first financial helpline that helps 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.

      How to Calculate EMIs for your Bank of Baroda Personal Loan

      Use the following parameters to calculate your EMIs

      1. Amount of the Loan
      2. Rate of Interest
      3. Tenure

      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 Yes Bank personal loan:

      Foreclosure / Full Prepayment

      • Helps you save on the overall interest payout.
      • Frees you from the burden of regular loan repayments.

      Partial Prepayment

      • 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 the 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 Yes Bank Personal Loan 

      Rate 5 Yrs 4 Yrs 3 Yrs
      9.99% 2149 2560 3250
      11.00% 2174 2584 3273
      11.50% 2199 2608 3297
      12.00% 2224 2633 3321
      12.50% 2249 2658 3345
      13.00% 2275 2682 3369
      13.50% 2300 2707 3393
      14.00% 2326 2732 3417
      14.50% 2352 2757 3442
      15.00% 2378 2783 3466

      *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, The 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. However, 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

      However, if you don’t want to defer EMI, you must click on the second option after the deferment option. This will ensure EMI payments as scheduled with no extra interest charged on it.

      • and select the defer option if your answer is yes otherwise your EMI debited as it was doing in the past

      Yes Bank 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.

      Loan Amount IRR Processing Fee (+GST)
      Loan amount >=15 lakh* 10.50% INR 3999

      *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.

      NTH Loan Amount IRR Processing Fee (+GST)
      >=50000 Loan amount >=10 lakh* 10.50% INR 3999

      *Terms & conditions apply

      • Not applicable on Existing loan closure
      • Not applicable for Credit card BT

      How to Manage Personal Loan 

      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 that 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 installment plan you will have a buffer against a missed payment.

      2. Pay More Than Your Minimum
      Paying beforehand 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 the debt 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 rate 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 interests and needs, one can make a single payment to one provider.
      Debt Consolidation is helpful if you can save an interest rate on a new loan that is lower than the average personal loan interest rate of the earlier loans.
      The only 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
      Last but not the least, 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 solve 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 defense 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 IRR
      Miniratna, Navratna, and Maharasthra 55 1.50% 13.49%
      11.49%
      10.99%
      Pensioner All 1.50% 14.75%
      Employees from the Railway Department All 1.50% 16.50%
      15.00%
      14.25%
      CISF, CRPF, ITBP, SSB and BSF All 1.50% 14.75%

      State and Central Government Officers:

      Section Salary Processing charge IRR
      Government Officer Division A (GA) and Division B (GB) NTH>24k 2% 16.75%
      NTH>35k 2% 15%
      NTH>50k 1.75% 14.75%

      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 you want to switch your existing lender to the one with lower rates of interest or better terms, you shall 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 installments in your house. The most efficient loan to get any sort of renovation done at your place that offers a favorable 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 like an exotic holiday with the loved one’s, Bank of Baroda understands all your needs from traveling to lodging the holiday loan covers it all. Now you don’t have to hinder your desires 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

      In the competition sustained world everybody needs a breakthrough to set foot into their career. 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 your Bank of Baroda personal loan will be allowed any time during the entire loan tenure after at least 1 installment 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 installments –
      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 Yes Bank 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 installments 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 Bank of Baroda Personal Loan?

      At Dialabank, we ensure to provide you with the best financial services at feasible interest rates on Personal Loans. 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.

      Bank of Baroda Personal Loan

      1. Visit Dialabank
      2. Compare and choose the right loan for yourselves.
      3. Fill an online form with your personal and employment specifications for the Bank of Baroda Personal Loan
      4. After filling the form, you can check the eligibility criteria and interest rates online.
      5. Once you’re done with the submission, our customer relationship managers will connect with you for assistance.
      6. Make sure that you’re eligible for the loan.
      7. Ultimately, your loan gets approved within no time.
      8. For more knowledge, you can visit your nearest Dialabank branch or call at 9878981166

      Personal Loan Verification Process

      Below are the mentioned Verification steps that the Personal Loan Application goes through after applying for a Personal Loan at Dialabank:

      • Step 1: Dialabank directs 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.

      Bank of Baroda Personal Loan Status

      The Bank of Baroda in a very selective manner provides you 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:

      1. 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.
      2. 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 all the finance and banking institutes in a state of conundrum. To tackle 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 on 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 Dialabank

      • 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?

      You can get the best personal interest rates from 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: ₹ 1,00,000

      Time period: 12 Months to 60 Months

       Bank of Baroda Personal Loan Interest Rate: 10.50% to 22.00%

      Processing Fee payable to Upto ₹ 2,500

      Fee payable to MyLoanCare: NIL

      Total 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

      Important Aspects

      • Before you jump into the approval of a Personal Loan you must 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 sneak peek 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.

      FAQs About Bank of Baroda Personal Loan 

      ✅ What is a Bank of Baroda personal loan?

      Use your Bank of Baroda personal loan to finance all your requirements. Be it a wedding, a medical emergency, renovation of your home, or any other personal need. You can get a Bank of Baroda personal loan of up to Rs. 10 lakhs at attractive interest rates.

      ✅ How does Bank of Baroda’s personal loan work?

      Personal is an unsecured loan that does not require you to submit any security with the bank. Bank of Baroda’s personal loan is full of features and benefits to cater to all your needs. You simply have to submit your documents along with an application form to the bank, upon verification and approval the loan is transferred to your account. You can then use this loan amount to cover all your personal expenses.

      ✅ What is the personal loan rate of interest in Bank of Baroda?

      Personal loan rate of interest in Bank of Baroda starts at 9.99% per annum. A processing fee of 1% of the loan amount is also charged.

      ✅ What is the procedure of personal loans in the Bank of Baroda?

      The very first step in the personal loan application is the submission of the form along with the requisite documents. The bank will then verify your documents and check your eligibility based on your monthly income, CIBIL score, and company profile. If eligible, your loan application will be approved, and disbursement of the loan amount will occur within 24 hours.

      ✅ How can I get a Bank of Baroda personal loan?

      Walk into the nearest Bank of Baroda branch with your documents and contact the loan officer about a personal loan. Upon submission, verification, and approval of your loan application, the amount will be transferred to your bank account. You can also visit Dialabank’s website and compare the offers from different banks and finance companies and apply with us for hassle-free processing.

      ✅ How to apply for a Personal loan in Bank of Baroda?

      Apply for a Bank of Baroda personal loan online on the official website of the bank or visit the nearest branch with all your documents. You can also fill an inquiry form at Dialabank’s digital platform to avail of personalized assistance and get the best offers and deals in accordance with your needs.

      ✅ Why apply for a Bank of Baroda personal loan?

      Bank of Baroda has an extensive network of more than 9800 branches through which you can easily fulfill all your financial needs. They provide personal loans at a low-interest rate and with minimal processing fees. Also, you do not have to pay any foreclosure charges and can repay your loan as and when you are able to.

      ✅ How much EMI on the Bank of Baroda personal loan?

      The Bank of Baroda personal loan EMI starts at Rs. 2560 for a loan amount of Rs. 1 lakh spread over a tenure of 48 months. This amount can vary depending on the borrower’s profile.

      ✅ How much CIBIL score required for a Bank of Baroda’s personal loan?

      You will need to have a CIBIl score of 701 or more to become eligible for Bank of Baroda Personal Loans. CIBIL score is calculated based on credit history and be a maximum of 900.

      ✅ Minimum credit score needed for Bank of Baroda personal loan?

      Your credit score is the only way for a bank to make sure of repayments. A credit score in excess of 750 means you have always been regular with your payments and are most likely to not default. Bank of Baroda requires to have a credit score in excess of 701.

      ✅ How to calculate Bank of Baroda personal loan EMI?

      You can easily use the EMI calculator present on Bank of Baroda’s official website to calculate an estimated EMI based on your loan amount, loan tenure, and rate of interest.

      ✅ What can I use the Bank of Baroda’s personal loan for?

      Bank of Baroda Personal Loan can be used to finance all your needs and expenses. From your wedding to that of a relative’s, home renovation and repair, payments of utility and medical bills, and etc. It is an all-around solution for your every financial need.

      ✅What relaxation scheme and moratorium Bank of Baroda provides in relation to Personal Loan due to COVID 19?

      The bank is offering a moratorium of 3 months.

      ✅ Can I prepay Bank of Baroda’s personal loan?

      You can prepay your Bank of Baroda personal loan if you have the needed fund. Bank of Baroda does not charge you with any foreclosure fees.

      ✅ How to prepay a Bank of Baroda personal loan?

      If you have the fund and wish to close your loan before the end of its tenure, you can visit your loan branch with all your documents and apply for foreclosure. You will be required to pay your outstanding amount and once all the formalities are taken care of your loan will be closed. There are no foreclosure charges.

      ✅ How to repay Bank of Baroda’s personal loan?

      You can repay your Bank of Baroda personal loan in easy monthly installments (EMIs). If you are an existing BOB customer, you can also pay your loan via online methods and through Bank of Baroda’s M-Connect mobile app.

      ✅ How to repay Bank of Baroda’s personal loan online?

      Bank of Baroda lets you repay your personal loan online through net-banking. You can simply visit Bank of Baroda’s online banking portal and pay all your dues easily.

      ✅ What documents are needed for the Bank of Baroda personal loan?

      You will need your basic KYC documents for identity and address verification along with two recent passport-sized photographs. You will also require a bank statement of the last 6 months and salary slips as proof of your income. Along with these documents, a duly filled in application form shall be submitted with your banker to start the loan process.

      ✅ How to check Bank of Baroda’s personal loan status?

      You can track your loan application online by visiting the BOB Financial website. You will need just your application number to stay updated with the status of your loan.

      ✅ What is the Bank of Baroda Personal Loan closure procedure?

      • Just go to the bank with the documents.
      • Write a letter for pre-closure of the Bank of Baroda Personal loan account.
      • Pay the pre-closure charges as per  Bank of Baroda Personal  Loan.

      ✅ What is the Bank of Baroda Personal Loan 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.

      ✅ What are the Bank of Baroda  Personal Loan preclosure charges?

      Bank of Baroda Personal Loan preclosure charges are Nil.

      ✅ What is the Bank of Baroda Personal Loan maximum tenure?

      Bank of Baroda Personal loan maximum tenure is 36 months.

      ✅ What is the Bank of Baroda Personal Loan minimum tenure?

      Bank of Baroda Personal Loan minimum tenure is 3 months.

      ✅ What is the Bank of Baroda Personal Loan customer care number?

      You can call Bank of Baroda on 1800 102 4455.

      Bank of Baroda Personal Loan News

      With loan recast hazy, strong re-rating a few quarters away

      With over five percent loan growth and 15 percent growth in retail credit — aiding 128 percent year-on-year (YoY) increase in net profit — the good show helped the stock gain over 11 percent after Q2 results.

       

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