Bank Of Baroda Personal Loan

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Bank of Baroda Personal Loan

Personal Loans from the Bank of Baroda have many advantages over other forms of credit, like credit cards & informal Loans from friends, family members or untrustworthy financiers. Bank of Baroda Personal Loan is a good option if you need an emergency fund for wedding, or planning a tour with family.

Bank Of Baroda Personal Loan benefits and features

Benefits:-

Advantage over credit cards
Zero prepayment charges
Offers the top up facility

Features:-

Maximum Loan amount can be obtained
Flexible tenure

Bank of Baroda Various Types of Personal Loans

Bank of Baroda Personal Loan for personal expenses:- Bank of Baroda offers Loan for personal expenses such as weddings, medical emergencies, paying off debts, higher education, home renovation, etc.

Bank of Baroda Top-up loan:- Through BOB Top up the Loan, you can avail minimum Loan amount as 1 lakh & maximum Loan amount as 2 crores but remember repayment tenure period will be the balance on your existing home loan

Bank of Baroda pre-Approved ...
... Personal Loan:- As its name suggests approved Personal Loan is given to only potential borrowers who qualify some eligibility criteria to get approved. Suppose, you are pre-approved customer then you may contact BOB representative directly to get benefited from offering schemes.
Bank of Baroda Personal Loan rate of interest, fee and other charges

Interest Rates and Types of Banks of Baroda loan scheme

Charges

For Existing Customers having bank account Relationship with same Bank for minimum 6- months For applicants having Bank account relationship with any other Bank for minimum 6- months
Lowest interest rate 10.50% 12.50%
Processing fee 2% +GST 2% +GST
Penal interest 2% on overdue amount 2% on overdue amount
Pre-closure charges Nil charges Nil charges
Loan amount
Loan up to 1 lakh to 10 lakhs for Metro and Urban Centers.
Loan up to 50,000 to 5 lakhs for Semi Urban & rural areas)
Loan up to lakh to 10 lakhs for Metro and Urban Centers
Loan up to 50,000 to 5 lakhs for Semi Urban & rural areas)
Foreclosure charges Nil charges Nil charges
Tenure 48 to 60 months 48 to 60 months
Bank of Baroda Personal Loan eligibility

Age 21 – 70 years
Employment Type Salaried and Self-employed professional and non-professional
Minimum Salary for Salaried Rs.25,000 per month
Minimum Salary for Non-Salaried Rs.2 lakh per annum

Bank of Baroda Personal Loan Eligibility Criteria for Salaried:-

Applicant should be resident of India
Applicant age should be in-between 21 to 70 years

Bank of Baroda Personal Loan Eligibility Criteria for Professional:-

Applicant age should be in-between 21 – 65 years
Doctor, CA, Architect, Lawyers, Consultant, Engineer & CS can apply for Home Loan on Professional category.

Bank of Baroda Personal Loan Eligibility Criteria for Self-Employed:-

Any individual filling income tax returns are eligible
Maintain good financial records
Minimum 3 years of existing business

Bank of Baroda Personal Loan Documents Required

Document category Documents required
KYC Document
Both salaried as well as self-employed need to provide any one of the following as identity proof.

PAN Card

Aadhaar Card

Driving License

Election/ Voter ID Card

Passport

Proof of Income
Applicant should require last 3-month payslip.

Applicant should have Bank statement of last 6 months.

Financial Documents
Salaried Individuals: salaried individuals required last 3 month's Salary Slips and, Bank Statements of 6 months.

Self-employed individuals: - Self-employed individuals required a last 1-year Bank statement for both savings and current account.

Proof of residence
You can summit any one of the following documents as an address proof:

PAN Card
Passport
Aadhaar Card
Driving License
Election/ Voter’s ID Card
Property/ Municipal Tax receipt
Electricity bill, telephone bill, piped gas bill, water bill, post-paid mobile phone bill etc.

How to apply Bank of Baroda Personal Loan online?

Step 1 - You can apply for a Personal Loan from the Bank of Baroda by visiting their website or you can visit the nearest branch.

Step 2 - Check your eligibility criteria to meet well or not from your end to avoid Loan rejection. If, yes you may download Personal Loan application form by online or collect it from your nearest branch Bank.

Step 3- Fill the required personal, professional, and financial details and attach KYC & mandatory documents. Then check your all details and documents twice before submitting the Loan application.

Step 4 – After evaluation of your information. shortly your Loan approval take place where your Loan sanctioned then, Loan amount will be credited to your respective account

Bank of Baroda Personal Loan FAQ

How to fill Bank of India Personal Loan application form?

It’s a simple process whether you are applying online or offline you just need to ensure that you carry mandatory document as given by BOB Personal Loan checklist, after that you will be required to fill up the details in Personal Loan application form like your full name, date of birth, address, occupation & contact details along with necessary documents attached. Check twice details & documents are submitted properly without any missing or error consist.

What is the importance of credit score to avail a Bank of Baroda Personal Loan?

Your credit score matters a lot while you get a BOB Personal Loan. Your cibil score should be more than 750. A low credit score increases the chances of rejection your application.

What is the Bank of Baroda customer care number?

Any further query and question just call on toll free number for Bank of Baroda are 1800 258 4455 and 1800 102 4455.

Who are eligible to apply for Bank of Baroda Personal Loan as self-employed professionals?

All individuals who fall under the self-employed such as doctors, lawyers, interior designers, architects, engineers, tech consultants, management consultants, company secretaries, and so on are eligible to avail of a Personal Loan through the Bank of Baroda.

Do I need to be an existing customer of Bank of Baroda to get their Personal Loan?

No, it's not necessary to be an existing customer of same Bank but Banks give preference to existing customer. For new customer, the Bank will check your financial record, any recent credit transactions, and your average financial status.

How much EMI do I have to pay?

To know how much EMI is allocated to your borrowed amount, firstly you need to calculate. Use the Bank of Baroda Personal Loan calculator to get your monthly scheduled EMI & timely its remaining principal amount.

How does Bank of Baroda Personal Loan EMI calculator work?

To calculate Personal Loan EMI, you need to enter required Loan amount, tenure period to repay Loan & interest rates to calculate monthly payable EMI.

Bank of Baroda Customer Care

For knowing more about Personal Loan customers can contact the Bank of Baroda customer services by call on this number 1800-258-4455 and 1800-102-4455 (toll-free) or you can visit the nearby Bank of Baroda branch to get your queries answered.

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