Bank of Baroda provides personal loans tailored for various financial needs, from personal expenses to emergencies. You can get a loan amount of up to ₹20 Lakhs with a simple and hassle-free application process. Additionally, the bank offers flexible repayment tenures of up to 84 months, allowing you to manage your repayments comfortably.
The interest rates levied on different types of personal loans offered by the Bank of Baroda are as follows:
Type |
Interest Rate |
Baroda Personal Loan |
11.15% to 18.75% p.a. |
Baroda Digital Personal Loan |
13% to 18.35% p.a. |
Baroda Digital Pre-Approved Personal Loan |
13% to 16.50% p.a. |
Baroda Loan to Pensioners |
10% to 12.65% p.a. |
*Disclaimer: The mentioned rates are subject to change at the lender’s discretion.
Additional fees usually charged when getting a Bank of Baroda Personal Loan are as listed below:
Processing Fee |
Up to 2% |
Penal Charges |
2% of the outstanding loan amount |
Prepayment Charges |
Nil |
Inspection Charges |
Nil |
Fees for Legal Reports |
At actuals |
*Disclaimer: The mentioned details are subject to change at the lender’s discretion.
Here are some advantages of opting for a Bank of Baroda Personal Loan:
Bank of Baroda offers competitive interest rates starting from 10% p.a.
You can borrow up to ₹20 Lakhs to fund all your personal and urgent needs
You may opt for a repayment tenure of up to 84 months, which enables better financial management
The simple and hassle-free online application process with minimal documentation ensures swift access to funds when you need them
Pensioners benefit from lower interest rates, starting at just 10% p.a., making loans more accessible for retired individuals
You can get pre-approved offers at low interest rates of 13% p.a. onwards. This is a faster and more convenient loan option for existing customers.
Bank of Baroda ensures transparency with no hidden charges. You are not required to pay any prepayment or inspection fees, and the legal fees are charged only at actual costs.
Be sure to fulfil the following requirements to be eligible for a personal loan from the Bank of Baroda:
Age |
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Employment Type |
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Work Experience |
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Some crucial documents you may have to furnish to get a personal loan include:
A filled-out loan application form
Aadhaar card
PAN card
Voter ID
Driving licence
Employee IDs issued by authorised entities such as the government, defence, or well-known corporations
Photo ID or professional certificate issued by organisations like ICWA, ICAI, or ICFAI
Utility bills
Passport
Aadhaar card
Updated passbook
Rent agreement
Additionally, you may be asked to provide some other documents depending on your employment type. These are as follows:
Bank statement of the last 6 months
Salary slips
Balance sheet
Profit and loss account
Income tax returns and necessary clearance certificates
Proof of business
Income tax challan/ Form 16A/ Form 26
An applicant can submit a loan application by following the steps listed below:
Open the official website of the Bank of Baroda
Navigate to ‘Loans’ and select ‘Personal Loans’
Choose the type of personal loan you wish to opt for
Select the ‘Apply Online’ option displayed on the screen
Thoroughly read all the terms displayed on the screen, then click on ‘Proceed’
Provide your phone number and enter the generated OTP, then click on ‘SUBMIT OTP’
Enter the required personal and professional details
Submit the application form after filling it out completely
After this, the bank will verify your eligibility, which may include checking your CIBIL score, and accordingly get in touch with you. Consequently, you will be asked to submit the required paperwork. Once the bank completes verifying your legitimacy, the Bank of Baroda Personal Loan amount will be disbursed to your bank account without delay.
Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.
The maximum personal loan amount that can be sanctioned by the Bank of Baroda is ₹20 Lakhs.
Yes, there is. The applicant’s age should be between 21 and 65 years to apply for a BOB Personal Loan.
You can receive in-principle sanction in 30 minutes, through the digital platform of Bank of Baroda.
You can calculate Bank of Baroda Personal Loan EMI using any Bank of Baroda Personal Loan EMI Calculators available online.
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 – 9044100/7923604000.
No. You cannot have a co-applicant when opting to get a personal loan from the Bank of Baroda.
You can choose from loan tenures ranging up to 84 months when you apply for a Bank of Baroda Personal Loan.
There are no charges levied on the foreclosure of a personal loan from the Bank of Baroda. However, this is subject to the policies of the bank. Be sure to confirm the details prior to making any financial decision.