Get personal loans with flexible terms and rates starting at 10.5% p.a. to 12.5% and higher. Applying for a personal loan is a very easy and hassle-free process that can be done both online and offline.
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Check Bank of Baroda Personal Loan Eligibility
Features and Benefits of Bank of Baroda Personal Loan
Headquartered in Vadodara, the Bank of Baroda is a nationalised bank under the regulations of the Reserve Bank of India. It is the third-largest bank in India and is widely spread across seventeen countries. Bank of Baroda offers a varied range of financial products to its customers.
The personal loan offered by the bank provides unsecured financial assistance at nominal and competitive interest rates to both salaried and self-employed individuals. It aims to provide its customers with an optimum experience via extended repayment tenures and instant loan disbursals.
- Interest rates range from 8.65% to 16.00% p.a.
- Extended repayment tenure that goes up to 5 years
- Customised loans of up to INR 15 lakhs
- Bank of Baroda offers varied repayment options to make financing easy for its customers. You can opt for cash, cheque or bank transfers. An individual can benefit from added advantage by opting for repayment via credit cards.
- It offers customised loans of up to INR 15 lakhs to rural and urban cities.
- Self-employed and salaried individuals can avail of this loan by meeting the eligibility criteria specified by the bank.
- The personal loan acts as a safety net for all your financial needs. It offers instant disbursals and rapid processing to make financing hassle-free.
- You can repay your loan at your pace with an extended repayment tenure of 5 years.
Eligibility Criteria of Bank of Baroda Personal Loan
Listed below are the eligibility criteria for the different applicants for the Bank of Baroda Personal Loan.
Salaried Employees
Bank of Baroda offers personal loans to individuals working in private limited companies, public sector undertakings, proprietorship firms or LLPs.
Minimum age | 21 years or above on the date of loan sanction |
Maximum age | Should not exceed 60 years or retirement age (whichever is lower) |
Work experience | At least 1 year |
Nationality | Indian |
Self-Employed Professionals
Bank of Baroda offers tailor-made personal loans to doctors, engineers, company secretaries, architects, interior designers and chartered accountants.
Minimum age | 21 years or more on the date of loan sanction |
Maximum age | Should not exceed 65 years |
Work experience | 1 year stable business |
Nationality | Indian |
Self-Employed Non-Professionals
Bank of Baroda offers personal loans to business owners and insurance agents to help maintain uninterrupted cash flow in the business.
Minimum age | 21 years or more on the date of loan sanction |
Maximum age | Should not exceed 65 years |
Work experience |
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Nationality | Indian |
Note: Co-applicants are not allowed for BOB personal loan applications. Staff members and NRIs are not eligible.
Guidelines for Bank of Baroda Personal Loan Eligibility
Parameters | Salaried and Self-employed individuals with a BOB salary account | Salaried and Self-employed individuals with a salary account in other banks |
Repayment capacity (FOIR) | 60% of GMI |
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Repayment period | Maximum 60 months | Maximum 48 months |
Account relationship |
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Minimum and Maximum Personal Loan Amount Sanctioned by Bank of Baroda
The minimum and maximum loan amounts sanctioned by the Bank of Baroda differ as per the location of the applicant.
Locality | Minimum | Maximum |
Metro and urban areas | INR 1,00,000 | INR 15,00,000 |
Semi-urban and rural | INR 50,000 | INR 15,00,000 |
Documents Required for Bank of Baroda Personal Loans
Listed below are the documents required by salaried and self-employed individuals for the Bank of Baroda Personal Loan application.
Salaried Employees
Application |
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Address Proof |
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Identity Proof |
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Bank statement |
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Self Employed Individuals
Application |
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Address Proof |
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Identity Proof |
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Bank statement |
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Business proof |
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Bank of Baroda Personal Loan EMI Calculator
The Bank of Baroda Personal Loan EMI calculator is an online tool that assists you in calculating the estimated monthly EMIs. The user-friendly calculator helps plan your finances in an organised manner. Drag the sliders and select the loan amount, interest rates and tenure. A bar graph indicating your monthly repayments will be displayed on your screen.
How Does Bank of Baroda Personal Loan Compare With Other Lenders?
Bank of Baroda | 8.65% to 16.00% p.a. |
State Bank of India | 9.60% to 15.65% p.a. |
HDFC Bank | 10.50% to 21.00% p.a. |
ICICI Bank | 10.50% to 19.00% p.a. |
Kotak Mahindra Bank | 10.25% onwards |
Axis Bank | 12.00% to 21.00% p.a. |
IDFC First | 12.50% to 18.00% p.a. |
Bajaj Finserv | 12.99% onwards |
HSBC Bank | 9.50% to 15.25% p.a. |
Punjab National Bank | 9.50% onwards |
Bank of Baroda Personal Loan Customer Care
Toll-free number | 1800-258-4455 / 1800-102-4455 |
Email ID | cs.ho@bankofbaroda.com |
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Bank Of Baroda's Calculators
Check Eligibility
Bank Of Baroda's Other Products
Bank Of Baroda's IFSC Codes
- Bank Of Baroda Andaman and Nicobar
- Bank Of Baroda Andhra Pradesh
- Bank Of Baroda Assam
- Bank Of Baroda Bihar
- Bank Of Baroda Chandigarh
- Bank Of Baroda Chhattisgarh
- Bank Of Baroda Dadra and Nagar Haveli
- Bank Of Baroda Daman and Diu
- Bank Of Baroda Delhi
- Bank Of Baroda Goa
- Bank Of Baroda Gujarat
- Bank Of Baroda Haryana
- Bank Of Baroda Himachal Pradesh
- Bank Of Baroda Jammu and Kashmir
- Bank Of Baroda Jharkhand
- Bank Of Baroda Karnataka
- Bank Of Baroda Kerala
- Bank Of Baroda Madhya Pradesh
- Bank Of Baroda Maharashtra
- Bank Of Baroda Manipur
- Bank Of Baroda Meghalaya
- Bank Of Baroda Mizoram
- Bank Of Baroda Nagaland
- Bank Of Baroda Odisha
- Bank Of Baroda Puducherry
- Bank Of Baroda Punjab
- Bank Of Baroda Rajasthan
- Bank Of Baroda Tamil Nadu
- Bank Of Baroda Telangana
- Bank Of Baroda Tripura
- Bank Of Baroda Uttarakhand
- Bank Of Baroda Uttar Pradesh
- Bank Of Baroda West Bengal
Personal Loan By Other Banks
- Axis Bank Personal Loan
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- ICICI Bank Personal Loan
- Bajaj Finserv Personal Loan
- IndiaBulls Personal Loan
- Canara Bank Personal Loan
- CITI Bank Personal Loan
- DHFL Personal Loan
- YES Bank Personal Loan
- Union Bank of India Personal Loan
- Federal Bank Personal Loan
- IndusInd Bank Personal Loan
- State Bank of India Personal Loan
- IDFC FIRST Bank Personal Loan
- Punjab National Bank Personal Loan
- Hero FinCorp Personal Loan
- IDBI Bank Personal Loan
- Kotak Bank Personal Loan
- Deutsche Bank Personal Loan
- Shriram Urban Co Operative Bank Limited Personal Loan
- Tata Capital Housing Finance Limited Personal Loan
- InCred Financial Services Personal Loan
- Standard Chartered Bank Personal Loan
- Punjab & Sind Bank Personal Loan
- Reliance Capital Personal Loan
- Ujjivan Small Finance Bank Personal Loan
- Indian bank Personal Loan
- Capital First Ltd. Personal Loan
- Muthoot Finance Ltd Personal Loan
- RBL Bank Personal Loan
- Clix Capital Personal Loan
- Aditya Birla Finance Limited Personal Loan
- L&T Finance Personal Loan
- Loantap Credit Products Private Limited Personal Loan
- Paysence Service Pvt Ltd Personal Loan
- Poonawalla Fincorp Limited Personal Loan
- Fullerton India Personal Loan
- Tata Capital Financial Services LTD Personal Loan
- IIFL Finance Personal Loan
- Edelweiss Financial Services Personal Loan
- Bank of India Personal Loan
- DCB Bank Personal Loan
- Bank of Maharashtra Personal Loan
- karnataka bank Personal Loan
- AU Small Finance Bank Personal Loan
- karur Vysya Bank Personal Loan
- HDFC Sales Personal Loan
- FT Cash Personal Loan
- HSBC Personal Loan
- MoneyWide Personal Loan
Financial Calculators
FAQs
From refinancing to reducing your interest, we have the answers right here.
What are the documents required to apply for a Bank of Baroda Personal Loan?
To avail of a Bank of Baroda Personal Loan, you are required to submit the application form duly signed, KYC documents, age proof, bank statements and business proof (applicable to self-employed individuals).
What is the maximum and minimum BOB Personal Loan amount I can get?
Bank of Baroda provides high-value loans, ranging from INR 50,000 to INR 15 lakhs.
What KYC documents will I have to submit to apply for a BOB Personal Loan?
An applicant is required to submit their Aadhaar card, PAN card, driving licence, voter ID, and utility bills for KYC verification.
What is the interest rate of Bank of Baroda Personal Loans?
Bank of Baroda offers unsecured loans at nominal interest rates ranging from 8.65% to 16.00% p.a.
What are the business proof documents required to avail of personal loans?
A self-employed individual is required to submit a Gumasta licence, business registration certificate, income tax challan, GST certificate, TDS certificate, IT assessment and clearance certificate for business verification.
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