To undergo any medical treatment, renovate your house or buy any electronic gadget, Bank of Baroda (BoB) Personal Loan is an ideal choice. Based on your credibility and income, Bank of Baroda Personal Loan interest rate is charged at an attractive rate. While sitting in your home, you just go for Bank of Baroda Personal Loan online apply without standing in long queues. You must fulfill Bank of Baroda Personal Loan eligibility criteria and credit score of 750 or more. The paperwork for Bank of Baroda Personal Loan online apply is very simple. Bank of Baroda Personal Loan documents required are quite minimal. The repayment for Bank of Baroda Personal Loan is between 12 to 60 months with an easy EMI option.
Features of Bank of Baroda Personal Loan
- Bank of Baroda Personal Loan is unsecured in nature. You do not have to keep any security with the lending institutions.
- Both salaried and self-employed can opt for Bank of Baroda Personal Loan apply online. You can easily save your time when applying personal loan from Bank of Baroda.
- Bank of Baroda Personal Loan interest rate is quite low. It is dependent on your eligibility criteria which is very easy to meet.
- You need to have a good credit score and a stable income source to suit the Bank of Baroda Personal Loan Eligibility criteria.
- Bank of Baroda Personal Loan documents required is very simple and minimal. You do not have to go through any lengthy and complex paperwork.
- You enjoy the flexibility to use Bank of Baroda Personal Loan for various purposes. As it is a multi-purpose loan, so, you have as such no limitation to the end-use of the loan.
- Based on the Bank of Baroda Personal Loan eligibility, you can avail loan amount up to Rs. 10 lakhs. A proper repaying capacity is very essential to avail this loan.
- The repayment is quite flexible ranging from 12 to 60 months. You can easily opt for an EMI facility to repay Bank of Baroda Personal Loan.
Bank of Baroda Personal Loan Eligibility Criteria
| Eligibility Criteria | Details |
| Age | 21-65 years |
| Salaried Employees | Private & Public Ltd. companies, Partnership firms, Proprietorship Employees of State/Central/MNCs/Educational Institutions Self-Employed Professionals & Non-Professionals Insurance Agents |
| Credit score | 750 or more |
| Work Experience | Minimum 1 year in the present firm |
| Income | Min- Rs. 20,000 (may vary) |
Bank of Baroda Personal Loan Interest Rate and other charges
| Rate of Interest | For at least 6 months a/c relation with BOB- 1 year MCLR+SP+3% to 1 year MCLR+6%+SP For a minimum of 6 months a/c relation with other banks- 1 year MCLR+SP+5% to 1 year MCLR+8%+SP |
| Processing Fee | 2% of the loan amount+applicable tax |
| Dishonour Charge | Rs. 750 per instance |
| Settlement Fees | Rs. 75 per settlement |
*interest rate might vary from time to time
Bank of Baroda Personal Loan Documents Required
| Particulars | Details |
| Residential Proof | Passport, Utility Bills like- Gas or Electricity Bills, Driving License |
| ID Proof | Voter ID card/Passport/AADHAAR card/PAN card |
| Income Proof | Payslip of last 3 months, updated bank statement of last 3 months, FORM 16 |
| Other details | Passport size photo Loan application form |
