One of the top public sector banks in India, Bank of Baroda (BoB), provides personal loans designed to cover a range of expenses. BOB personal loans come with attractive interest rates and flexible repayment plans, making them ideal for covering medical bills, education, travel, or other personal requirements.
Key Highlights
- Interest Rate: 10.40% - 17.75% p.a.(Floating) | 11.05% - 18.10% p.a.(Fixed )
- Loan Amount: ₹50,000-₹20 lakh (Rural/Semi-Urban) | ₹1 lakh-₹20 lakh (Metro/Urban)
- Tenure: Up to 84 months
- Processing Fee: Nil for Govt. salary account holders; others 1%–2% (min ₹1,000 + GST, max ₹10,000 + GST)
Bank of Baroda personal loans offer quick funds for salaried and self-employed individuals with flexible tenures up to 84 months. With competitive interest rates and minimal processing fees, this personal loan is a convenient financing option. Applicants aged 21 - 60 (salaried) or 65 (self-employed) with a good credit profile are eligible.
Following are the types of personal loans provided by Bank of Baroda:
Here is a list of some crucial elements of Bank of Baroda personal loan schemes:
The interest rates for Bank of Baroda personal loans range between starts 11.05% and 18.50%. Government employees and defence personnel who fall under scheme codes SB 182 and 186 get loans for minimum interest rates.
However, self-employed professionals, business persons or private sector employees are required to pay maximum interest rates. Moreover, the Bank of Baroda also includes some concessions in interest rates for people who opt for group credit life insurance.
Here is a detailed overview of interest rates for Bank of Baroda personal loan schemes.
Category | Interest rate(Floating) | Interest rate(Fixed) |
Govt Employees / defence personnel maintaining salary account with our Bank under scheme code SB 182 & 186 | 10.40% to 10.90% | 11.05% to 11.55% |
Gold(Employees of Central / State Govt. / PSUs / Autonomous Bodies/ Listed Public Limited Company having external rating "A" & above / Joint Sector Undertakings, & Educational Institutions of National Repute, having salary account with Bank of Baroda) | 10.90% to 15.75% | 11.30% to 14.15% |
Category C: Silver : Same target customers as mentioned in Gold Category, having salary account with other Bank | 11.40% to 15.75% | 11.80% to 14.15% |
Category B : (Employee of Private / Public, Trust, LLP, Insurance Agent, Self Employed Professional and business persons) having account relationship with our Bank | 12.15% to 15.75% | 12.85% to 15.10% |
Category A :(Employee of Private / Public, Trust, LLP, Insurance Agent, Self Employed Professional and business persons) having account relationship with other Bank | 14.15% to 17.75% | 14.80% to 18.10% |
There are several factors that lead to a change in the Bank of Baroda personal loan interest rate.
Bank of Baroda has a set of eligibility criteria for candidates who want to take advantage of personal loans.
Following is a list of documents required to get a personal loan from Bank Of Baroda:
Besides interest rates, the following are the additional expenses associated with the BOB personal loan:
With the help of the Bank of Baroda personal loan EMI calculator, you can calculate the monthly EMI (Equated Monthly Installment) that you will be required to pay on the personal loan of your choice. The calculator shows you the total interest payable at the end of the loan tenure, along with your principal amount.
If you require any help regarding the BOB personal loan interest rate, you can contact the service staff at any BOB branch or locate a BC Agent on the BOB website. You can also contact these toll-free numbers:
Bank of Baroda offers flexible personal loans with easy eligibility, low interest rates, and quick disbursal. Knowledge of interest rates, EMI, and documentation aids borrowers in making informed choices. Having a good credit score and opting for the correct loan term ensures improved rates and money management.
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