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The Bank of Baroda is currently the second-largest public sector bank in India. Consequently, borrowers in need of a personal loan oftentimes depend on this institution for an ideal financial recourse. 

So, before applying for a line of credit, individuals must be aware of the intricacies associated with Bank of Baroda Personal Loan

Bank of Baroda Personal Loan

Customers of BOB can avail of a personal loan from this financial institution without any hassle in a minimal waiting period. This line of unsecured credit is provided to creditworthy borrowers without the need for collateral. 

Upon meeting Bank of Baroda Personal Loan eligibility criteria and producing the documents required, applicants can rest assured about an expedited credit sanction process. Keeping the diverse sources of income in consideration, Bank of Baroda has enabled both salaried individuals and self-employed people to apply for a personal loan. 

Bank of Baroda Personal Loan Interest Rate

Bank of Baroda offers very competitive interest rates for personal loans. The personal loan interest rate in Bank Of Baroda varies from person to person and depends on several factors. The most important factors that influence the BOB Bank Personal Loan interest rate are loan amount, employment type, relation with the bank, annual income, credit score, etc. Here is a list of the different Bank of Baroda Personal Loan interest rates.


Interest Rate

For salaried employees

10.00% - 13.60%

For self-employed individuals

10.00% - 13.60%

Applicants who hold an account for at least 6 months in other banks

12.00% - 15.60%

Applicants who hold an account for at least 6 months in Bank of Baroda

10.00% - 13.60%

Baroda Loan for Pensioners


Covid-19 Personal Loan


Pre-approved Personal Loan


Disclaimer: Please check the interest rates with the lender before applying.

When applying for a personal loan, borrowers must consider comparing different lenders to determine who is providing most favourable interest rate. A higher interest rate can lead to heftier EMI costs, increasing the total repayment outgo. 

Bank of Baroda Personal Loan Processing Fees and Other Charges

When an applicant opts for a personal loan from Bank of Baroda, he/she also must take into consideration the additional spending relating to processing fees. The financial institution charges this amount to its customers as a fee for the loan application approval’s administrative procedure. 

Some of these additional charges include: 

  • Application Fee: During the approval process, the lender will need to evaluate the borrower’s documents to verify their authenticity. Therefore, a certain amount is claimed for the resource allocation to this purpose. 

  • Technical Fee: This is charged for the assessment done by the lender for market value inspection.

  • Legal Fee: A financial institution will hire legal experts to determine the legitimacy of a borrower. So, a borrower remains responsible for reimbursing the amount spent as a legal fee by the lender.

  • Statutory Charges: A lender will also collect statutory charges, such as Goods and Services Tax from the borrowers on behalf of different regulatory bodies. 

  • Pre-EMI: Borrowers need to pay a pre-EMI amount till the credit amount procurement.

  • Loan-Reappraisal Fee: if a borrower does not realise the credit amount for an extended period, even after the application has been sanctioned, a lender can choose to re-evaluate it. In this case, this borrower will need to pay off the cost for the same. 


Notably, the processing fee surmounts to be around 2% of the total loan amount sanctioned and the additional GST. 

Bank of Baroda Personal Loan Features and Benefits

Take a look at the attractive features and benefits of the BOB Personal Loans here.

Interest Rate

  • 10.00% onwards for personal loans

  • 9.35% onwards for pension loans

Loan Amount

  • Minimum - ₹ 10000 (For Bank of Baroda Pre Approved Personal Loan)

  • Maximum - ₹ 15 Lakhs

Loan Tenure

  • Up to 84 months

Processing Fees

  • 2% (₹ 1,000 - ₹ 10,000)+GST

Prepayment Charges

  • Zero prepayment charges

Foreclosure Charges

  • Zero foreclosure charges

Special Schemes

  • Personal loans to pensioners and ex-defense personnel.

  • Personal loan offerings for Earnest Money Deposits.

Premium Personal Loan

  • A customer having good bank account records without any discrepancies for at least 6 months can avail premium loans.

*Interest rates and charges are subject to changes.

Bank of Baroda Personal Loan Eligibility

If the credit application is rejected by any financial institution, it can negatively affect the credit history of the borrower. For instance, his or her CIBIL score can reduce drastically. Therefore, before individuals apply for a BOB personal loan, he/she should meet all the parameters put forth by the lender.


  • Minimum: 21 years

  • Maximum: 60 years

Employment Type

  • Government employees

  • Salaried employees of MNCs, Public Limited Company or Large Private Limited Company

  • Salaried employees of Public Sector and Joint Sector Undertakings

  • Partnership or proprietorship firm employees

  • Self-employed professionals

  • Insurance agents

Years of Experience

  • Salaried employees - Should have worked with the current employer for at least 1 year.

  • Self-employed persons - Must have had a stable business for a minimum of 1 year.

  • Insurance agents - Must have been in business for at least 2 years.

Loan Amount

1. Minimum

  • Metro and urban areas: ₹ 1 Lakh

  • Semi-urban and rural areas: ₹ 50,000

2. Maximum

  • Metro and urban areas: ₹ 10 Lakhs

  • Semi-urban and rural areas: ₹ 5 Lakhs

Documents Required for Bank of Baroda Bank Personal Loan

Some crucial documents that a borrower will need to produce in order to avail of a personal loan from Bank of Baroda include: 

  • A filled-out loan application form

  • Passport-size pictures of the borrower

  • Form 135

  • Bank statement for the last six months

  • Updated passbook

  • ID proof

  • Utility bill, voter card, etc., as proof of residency 

  • Salary slips [for jobholders]

  • Balance sheet [for self-employed borrowers]

  • Profit and loss account [for self-employed borrowers]

  • Income tax returns and necessary clearance certificates

  • Proof of business [for self-employed borrowers]

  • Income tax challan/ Form 16A/ Form 26

Bank of Baroda Personal Loan EMI Calculator

Loan Amount
  • Months
  • Years
Rate of Interest

Monthly EMI

at % interest rate for months

Total Amount Payable
Principal Amount
Total Interest
Year Principal Interest Balance

How to Apply for Bank of Baroda Personal Loan?

An applicant can submit a credit request in these following steps:

  • Step 1: Open the official website of Bank of Baroda.

  • Step 2: Select ‘Personal Loan’.

  • Step 3: Click on ‘Apply Now’.

  • Step 4: Select the type of employment.

  • Step 5: Enter mobile number.

  • Step 6: Provide the OTP sent to this number.

  • Step 7: Click on ‘Submit’.

  • Step 8: Enter the required personal and professional details.

  • Step 9: Submit the application form after filling it out completely.


After this procedure is over, lenders will verify a borrower’s eligibility and accordingly get in touch with him or her. Consequently, the applicant will need to submit the essential paperwork. Once the bank completes verifying their legitimacy, the Bank of Baroda Personal Loan amount will be offered without delay. 


The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort. 

The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

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What is the maximum personal loan amount that can be sanctioned by Bank of Baroda?

The maximum personal loan amount that can be sanctioned by Bank of Baroda is ₹ 15 Lakhs.

Is there an age limit to apply for Bank of Baroda Personal Loan?

Yes, there is. The applicant should be between 21 and 60 years to apply for a BOB Personal Loan.

How much time is taken for the Bank of Baroda Personal Loan to be approved?

You can receive In-principle sanction in 30 minutes, through the digital platform of Bank of Baroda.

How can I calculate Bank of Baroda Personal Loan EMI?

You can calculate Bank of Baroda Personal Loan EMI using any Bank of Baroda Personal Loan EMI Calculators available online.

How can I get in touch with Bank of Baroda customer care?

You can contact Bank of Baroda Personal Loan customer care executives at the following toll-free numbers – 1800 258 44 55/1800 102 44 55.

NRIs can call on 079 – 49044100/7923604000.

Can I have a co-applicant when applying for the Bank of Baroda Personal Loan?

No. You cannot have a co-applicant when opting to get a personal loan from the Bank of Baroda.

What is the minimum and maximum loan tenure for Bank of Baroda Personal Loans?

You can choose from loan tenures ranging between 48 months to 84 months when you apply for a Bank of Baroda Personal Loan.

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