Bank of Baroda Personal Loan

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Why us?

Rates as low as 9.99%*
Loans Up to 30 Lacs
Same Day Disbursal
Doorstep Service
Unbiased Experts Advice

Bank of Baroda Personal Loan Key Features

Features Details
Age 21 – 60 Years
CIBIL Minimum 750 or above
Interest Rate 10.50% to 15.50% per annum
Lowest EMI per lakh Rs. 2560
Tenure 12 to 48 months
Processing Fee 2% of Loan Amount
Prepayment Charges NIL
Part Payment Charges NIL
Minimum Loan Amount Rs. 50,000
Maximum Loan Amount Rs. 10 Lakh

Each Feature Explained in Detail Below


Bank of Baroda Personal Loan

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 Interest Rate and Charges

Interest Rate 10.50% to 15.50% per annum
Processing Charges Up to 2% 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 months
> Bank Statement: Last 3 months

Bank of Baroda Personal Loan EMI Calculator

Bank of Baroda Personal Loan Compared to Other Banks

Particulars Bank of Baroda HDFC Bank Bajaj Finserv Axis Bank Citibank ICICI Bank
Interest Rate 10.50% to 15.50% 11.25% to 21.50% Starting from 12.99% 15.75% to 24% Starting from 10.99% 11.50% to 19.25%
Tenure 12 to 48 months 12 to 60 months 12 to 60 months 12 to 60 months 12 to 60 months 12 to 60 months
Loan amount Up to Rs. 10 lakh Up to Rs. 40 lakh Up to Rs. 25 lakh Rs. 50,000 to Rs. 15 lakh Up to Rs. 30 lakh Upto Rs. 20 lakh
Processing Fee Up to 2% of the loan amount Up to 2.50% of the loan amount Up to 3.99% of the loan amount Up to 2% of the loan amount Up to 3% of the loan amount 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 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 customer of the bank, your loan application will be processed within 48 hours.

Bank of Baroda Personal Loan Preclosure

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.

Pre Calculated EMI for Personal Loan

Rate
5 Yrs
4 Yrs
3 Yrs
10.50%
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

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.

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.

Personal Loan for Marriage

You can apply for a personal loan if there is an upcoming wedding in your family. Affordable rates and quick disbursal make the personal loan a helpful friend in such times.

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 Personal Loan Status

Check your personal loan status by visiting your nearest Bank of Baroda branch or through the BOB net banking portal using your loan reference number.

How to Apply for Bank of Baroda Personal Loan?

Availing a personal loan is very simple; all you have to do is to:

  1. First of all visit www.dialabank.com
  2. Fill the online application form for Personal Loan.
  3. Don’t forget to enter the contact number in the application form.
  4. Our relationship managers will contact you and guide through the entire process.

The whole process is very easy and simple. You can also check the eligibility criteria and interest rates on our website.

FAQs About Bank of Baroda Personal Loan 

✅ What is 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 personal loan work?

Personal is an unsecured loan that does not require you to submit any security with the bank. Bank of Baroda 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 10.50% per annum. A processing fee of 2% of the loan amount is also charged.

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

The very first step in the personal loan application is the submission of 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 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 Personal loan in Bank of Baroda?

Apply for 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 Bank of Baroda personal loan?

Bank of Baroda has an extensive network of more than 9800 branches through which you can easily fulfil 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 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 Bank of Baroda 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 Bank of Baroda 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.

✅ Can I prepay Bank of Baroda 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 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 personal loan?

You can repay your Bank of Baroda personal loan in easy monthly instalments (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 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 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 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 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.

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