Bank of Baroda also known as BOB is originally headquartered in Baroda, Gujarat, India. IT is the 4th largest national bank in India. It has lots of branches and over 132 million+ customers.
In this post, I’ll cover the details of Bank of Baroda personal loan, its features, eligibility, contact details, and many more.
Table of Contents
Loan Details
| Sl. No. | Category | Data |
|---|---|---|
| 1 | Loan amount | Up to 10 Lakhs |
| 2 | Age | 21 years or above |
| 3 | Interest rates | 10-15.6% |
| 4 | Tenure | Up to 60 months (5 years) |
| 5 | Processing charge | Up to 2% |
| 6 | Penal interest rate | 2% |
| 7 | Lowest EMIs | Rs 2,125 per Lakhs |
Steps to apply at Bank of Baroda personal loan
Step-1: Visit the official website of BOB or nearer branch
Step-2: Enter your details in the loan application form
Step-3: Upload or submit the necessary documents for verification
Step-4: Bank will notify you regarding your application within few days
Features
The features of BOB personal loan are:
- Attractive loan amount up to 10 Lakhs
- Flexible period of tenure up to 5 years
- Quick procedure and disbursal of loan
- Top-up loan facility available
- Special interest rates for existing account holders of BOB
Eligibility criteria for Bank of Baroda personal loan
The eligibility criteria defined for the consumers to apply for a personal loan at BOB are:
- Applicant must be working in a reputed public/private firm
- Age: 21-60 (salaried), 21-65 (non-salaried)
- Co-applicants are restricted to apply for personal loans
- Work experience: 2 years (salaried), 1 year (self-employed)
Required Documentation
The documents needed for the application of personal loan at Bank of Baroda are as follows:
- Fully filled loan application
- Passport sized photographs
- Identity proof (Aadhar card/Driving license)
- Residential proof (Voter ID/PAN card)
- Bank statements/updated passbooks
- Employee ID card
- Rental agreement
- Income slips
- Income proofs
- ITRs
- Balance sheets
- IT Clearance certificate
Comparison of Bank of Baroda personal loan with other banks
| Sl. No. | Bank Name | Loan amount | Interest rates | Processing charge (GST excluded) |
|---|---|---|---|---|
| 1 | BOI | Up to 10 Lakhs | 8.35-10.35% | 2-4% |
| 2 | IDBI | Up to 10 Lakhs | 14% | 2% |
| 3 | IndusInd | Up to 10 Lakhs | 11% | 2% |
| 4 | Axis | Up to 15 Lakhs | 10.25% onwards | 2% |
| 5 | Deutsche | Up to 15 Lakhs | 9.9-11.4 % | 2% |
Check status
You can easily track your personal loan status at Bank of Baroda by clicking the following button:
Contact Details
Toll-free customer numbers: 1800 258 44 55 or 1800 102 44 55
NRI customer number: 079 – 49044100 or 7923604000
Visit any nearest branch
FAQs
1]. Is pre-payment allowed for personal loan at BOB?
Yes, pre-payment is allowed.
2]. What is the minimum CIBL score needed to apply for personal loan at BOB?
A CIBL score of 701 or more is needed to apply for a personal loan.
3]. How much time does BOB takes for loan approval decision?
BOB takes only 30 minutes for your loan decision.
4]. Are there any chances of my application rejection?
Yes, sometimes bank rejects the application of the persons who have low CIBL score, submit incomplete loan application, enter fake details, or not providing any required documents.
5]. How can I pay my personal loan EMIs with BOB?
You can pay your EMIs by using Electronic Clearing System-ECS.
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