BOB Personal Loan of 10000

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Hepson Franklin
Hepson Franklin
Hepson Franklin is a seasoned financial expert and accomplished writer specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & loan products. With a wealth of experience in the financial industry, he has established himself as a trusted voice, providing invaluable insights and guidance to both seasoned investors and those new to the world of finance. With a comprehensive understanding of the intricate facets of the financial landscape, he is dedicated to demystifying complex financial concepts for readers of all backgrounds.
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Piyush Bothra
Piyush Bothra
Chief Financial Officer, Square Yards
Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

When it comes to personal loans, the Bank of Baroda recognises the significance of transforming your aspirations into reality. We provide personal loans designed to suit your unique requirements, empowering you to seize any opportunity. A sum of 10,000 is ample to address unforeseen circumstances. Our customer-centric approach guarantees a smooth, transparent borrowing journey, featuring competitive interest rates and flexible repayment choices. Let’s delve into the specifics of the Bank of Baroda 10,000 personal loan. 

Bank of Baroda 10,000 Personal Loan – Highlights

Here is a quick snapshot of the Bank of Baroda 10000 Personal Loan. 

Maximum Amount  Rs. 20 lakhs
BOB Personal Loan Interest Starting at 10.35% p.a.
Type of Interest Rate Fixed and Floating
Loan Tenure Up to 7 years 
Collateral Requirement  NIL 

Bank of Baroda 10,000 Personal Loan EMI for 1- 5 & 10 Years  

The table below pertains to the Bank of Baroda 10000 Personal Loan EMI schedule for a tenure of one to five and ten years. The interest rate and EMIs are tentative of what an applicant might incur.  

Loan Amount Interest Rate Loan Tenure EMI
10,000 10.50% 1 Year 881
10,000 10.50% 2 Year 464
10,000 10.50% 3 Year  325
10,000 10.50% 4 Year 256
10,000 10.50% 5 Year 215
10,000 10.50% 6 Year 188
10,000 10.50% 7 Year 169

Compare Bank of Baroda 10,000 Personal Loan 10,000 from Other Banks & NBFC  

The table below compares Bank of Baroda’s 10000 personal loans with other banks and lending institutions. The comparison includes the interest rates and maximum loan tenure. 

Lender  Interest Rate (p.a.) Maximum Loan Tenure
Bank of India 10.25% onwards Seven years
State Bank of India  10.55% onwards Six years
Citibank 10.75% onwards Five years
TATA Capital 10.99% onwards Six years
Bajaj Finserve 11% onwards Eight years

Bank of Baroda 10,000 Personal Loan – Fees and Charges 

Here are the additional fees and charges the applicant must pay for a Bank of Baroda 10,000 personal loan. 

  • Processing Fee: Typically ranges from 1-2% of the loan amount, plus Goods and Services Tax (GST). Notably, government employees holding a salary account with the Bank of Baroda are exempt from processing fees.
  • Goods and Services Tax (GST): A standard 18% GST applies to all services related to the loan.
  • Penal Interest: A penalty of 2% is levied on the outstanding loan amount in case of delays in repayment.
  • Other Charges: Additional fees, including stamp duty, verification charges, and similar expenses, may be applicable during the loan process.

Bank of Baroda 10,000 Personal Loan Documents

To complete the loan application process for a Bank of Baroda 10000 personal loan, the following documents are required: 

  • Duly fill out the Loan Application Form Accompanied by three passport-size photographs.
  • Form 135: Provides details of liabilities and assets, which should be submitted along with the application.

Financial Records:

  • Last six months’ bank statements.
  • Updated passbook.

ID Proof (Any of the following):

  • PAN card.
  • Aadhar card.
  • Voter ID.
  • Driving license.
  • Passport.
  • Employee ID issued by the organisation.
  • Practice certificate.
  • Identity documents issued by relevant professional bodies such as ICFAI, ICAI, and ICWA.

Address Proof (Any of the following):

  • Passport.
  • Voter ID.
  • Driving license.
  • Postpaid utility bills (gas and electricity bills).
  • Updated passbook or bank account statement.
  • Registered rent agreement. 

Bank of Baroda 10,000 Personal Loan Eligibility 

The above eligibility criteria must be met for interested applicants for a Bank of Baroda 10000 personal loan. 

  • The minimum age of an applicant must be at least 21 and above
  • For salaried applicants, the borrower’s age and repayment period must be at most 60, whichever is lower.
  • For non-salaried applicants, the borrower’s age plus repayment period should be at most 65 years, whichever is lower.

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