Bank of Baroda Personal Loan Interest Rates


An Indian state-owned international banking and financial services corporation, Bank of Baroda, with its headquarters in Gujarat's Vadodara (formerly known as Baroda). Its network includes 10,441 ATMs and 5538 branches. Corporate and retail customers can choose from various banking products and financial services the Bank of Baroda offers.

  • Personal Loan offer for You

  • 10.35% - 18.25%

    Interest Rate (p.a.)
  • ₹1L - ₹20L

    Tenure(1 - 7 Years)
  • ₹2,142 - ₹2,553

    EMI Per Lakh
  • 10.35% - 18.25%

    Interest Rate (p.a.)
  • ₹1L - ₹20L

    Tenure(1 - 7 Years)
  • NIL

    Processing Fee

Compare Bank of Baroda Personal Loan Interest Rates with Other Lenders

You should properly compare interest rates with those provided by other banks and lenders before obtaining a personal loan from the Bank of Baroda. Comparing personal loan interest rates will determine how superior the Bank of Baroda personal loan is to other products.

  • Starting Interest Rate (p.a)
  • Processing Fee
  • Rating
  • Min. Loan Amount
  • CASHe PL Interest Rate

  • 27%

  • We offer a 2.50% interest rate per month (Equivalent to reducing the balance interest rate to 3.71% per EMI) on the loan amount.

  • 4.5

  • ₹1K - ₹4L

    Tenure(7 - 45 Years)

  • Prefr PL Interest Rate

  • 15% - 36%

  • 3-5% with Minimum Proc. Fee of INR 1500 + GST

  • 4.5

  • ₹50K - ₹5L

    Tenure(1 - 4 Years)

  • 50 K
  • 1 Cr
  • 1
  • 5
  • 8
  • 25

Monthly Loan EMI

Payment Breakdown:

Principal Amount


Interest Payable

Total Amount Payable

Personal loans from Bank of Baroda are available for up to Rs 20 lakh at 10.60% p.a. and higher for terms of up to 7 years. Additionally, it provides 11.70% p.a. pension loans to those who own pension accounts. Personal loans from the Bank of Baroda (BoB) are available with reasonable interest rates, rapid processing, and minimal paperwork.

Bank of Baroda Personal Loan Interest Rate by Schemes

Bank of Baroda offers four schemes to its customers. Listed below are the four schemes to use to avail of a housing loan according to your needs:

Bank of Baroda Personal Loan

Regular personal lending programme for all non-speculative personal use.

The maximum loan amount can go up to Rs. 15 Lakhs in the metro, urban, semi-urban, and rural areas. While the minimum amount can go up to Rs. 1 Lakh in metro and urban areas and up to Rs. 50,000 in semi-urban and rural areas.

Tenure: 48-60 Months

Bank of Baroda Loan to Pensioners

Loan from the pension fund for retirees' personal needs, excluding speculation

Pre-approved Personal Loan

Loans without collateral to satisfy all financial obligations, including any liquidity issues brought on by COVID-19.

Amount of Loan: Upto 5 Lakhs

Tenure: Up to 5 Years 

Bank of Baroda Personal Loan Interest Rates for Salaried and Self-Employed 

For paid employees, and self-employed professionals, Bank of Baroda offers personal loans with starting interest rates as low as 10.60%. Depending on the applicant's history and other important factors, including their income, age, and history of repayment, among others, as well as their credit score.

Bank of Baroda Personal Loan Interest Rate For A Salary Account

Numerous advantages are available to customers with a Bank of Baroda personal loan account. To find out if they qualify for a personal loan that has already been pre-approved, interested candidates can visit the bank's official website and supply particular information. Like other lenders, Bank of Baroda offers pre-approved personal loans to borrowers with strong credit ratings and on-time repayment history. Salary accounts at the Bank of Baroda have interest rates that begin at 10.60% per year.

Bank of Baroda Pre-approved Personal Loan Interest Rates

If a person has a strong credit rating and all the required paperwork, they may be eligible for a Bank of Baroda personal loan with a pre-approved lower interest rate. Customers can easily obtain a personal loan interest rate pre-approved by the Bank of Baroda.

Bank of Baroda Personal Loan Balance Transfer Interest Rates

A personal loan balance transfer refers to moving your active personal loan from one bank to another. Being able to save money makes it a practical amenity. Depending on how much of the existing loan is still outstanding, even a 0.50 to 1% change in the interest rate will significantly reduce your EMIs and produce further cost savings.

Bank of Baroda Personal Loan Interest Rates and Charges

Before applying to the Bank of Baroda Personal Loan, you should familiarise yourself with the applicable fees and charges. It would be simpler for you to determine the overall cost of the borrowed money if you are aware of these.

Processing Fee Up to 2% (Rs 1,000-10,000)+GSTFor Government employees maintaining salary account with Bank of Baroda- NIL
Penal Interest 2% on the outstanding loan amount
Foreclosure Charges NIL
Preclosure Charges NIL

Factors Affecting Bank of Baroda Personal Loan Interest Rates

The amount of the loan given to the applicant and the interest rate at which it is provided could be affected by a variety of circumstances. The most important factors that affect the amount of the loan and the interest rate offered to the applicant are listed below:

Credit Score

The applicant's credibility can be directly determined by looking at their credit score. The bank typically requires a credit score of 750 or above for any loan. A personal loan is given to those with a strong credit rating. If a person's credit score is low, they can raise it by paying their EMIs on time and paying off any outstanding loans.

Income Stability

Accessibility to personal loans requires proof of stable income. The loan will likely be accepted without issue, and the interest rate will be lower if the applicant has a very reliable source of income.

Reputed Employer

It is more likely that the application will receive approval more quickly if they work for a reputable company.

Relationship with the Bank

The personal loan would be accepted without issue if the applicant is an existing customer who has kept the proper balance throughout the connection with the bank.

How to Calculate Bank of Baroda Personal Loan Interest/EMI

One may precisely calculate the interest/EMI on the personal loan using the Bank of Baroda's personal loan EMI calculator; all that is required is the entry of a few simple loan details (Equated Monthly Instalment).


One can use the following formula to calculate the EMI:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

How to Get Low-Interest Rates on Bank of Baroda Personal Loan?

The best personal loan offer with the lowest interest rate must be selected. Doing this can lower your overall debt and access a manageable and affordable EMI plan. These five suggestions are recommended:

  • Maintaining a very high personal loan eligibility to get the greatest interest rate is the simplest thing to do. The key is often to have a good credit score—one that is over 750. 
  • Try to lower your total debt by foreclosing on some of your loans to less than 40% of your monthly income before taking out a personal loan.
  • Check whether a lender offers quick disbursement or hassle-free digital application processes. As a result, the Bank of Baroda offers quick, paperless personal loan disbursals to all customers. 
  • Watch your email and SMS messages for any holiday or seasonal promotions from your present lenders. 
  • You can negotiate for a lower personal loan interest rate by using the goodwill of your job or your professional standing.

Personal Loan by Other Banks

Frequently Asked Questions (FAQs)

What is the current interest rate of a Bank of Baroda personal loan?

The current interest rate of the Bank of Baroda personal loan ranges from 10.60% to 11.70%.

How can I reduce my interest on the Bank of Baroda personal loan?

One can reduce their interest rate on the Bank of Baroda personal loan by maintaining a good credit score, having a good credit history, etc.

Do the Bank of Baroda demand collateral or security for personal loans?

No, the Bank of Baroda doesn’t demand any collateral or security for personal loans.

Can individuals pay off their Bank of Baroda loans EMI early?

Yes, people can pay off their Bank of Baroda loans EMI early.

What is the EMI for a 1 lakh personal loan?

The EMI for a 1 lakh personal loan with a 10.60% of interest rate and a tenure of 5 years would be Rs. 2,154.

What is the EMI for a 10 lakh personal loan?

The EMI for 10 lakhs personal loan with a 10.60% of interest rate and tenure of 5 years would be Rs. 21,543.

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