The Bank of Baroda personal loan is a great option if you need quick funds for travel, education, marriage, medical expenses, or debt consolidation. With competitive rates, flexible tenures, and easy application steps, this loan suits both salaried and self-employed individuals.
In this article, you’ll learn about the latest Bank of Baroda personal loan interest rate, eligibility, application process, and how to calculate EMIs using the Bank of Baroda personal loan calculator. Whether you’re looking to apply online or at a branch, this guide will help you make a clear decision.
Key Features of Bank of Baroda Personal Loan
| Feature | Details |
|---|---|
| Loan Amount | ₹50,000 to ₹20 lakh |
| Interest Rate (p.a.) | Starts at 10.90% |
| Tenure | 12 to 60 months |
| Processing Fee | Up to 2% of loan amount + taxes |
| Prepayment Charges | Nil after 6 EMIs |
| Disbursal Time | 1–2 working days |
| Collateral | Not required (unsecured loan) |
The personal loan BOB is designed for both urgent needs and planned expenses. The bank also offers a digital application process.
Bank of Baroda Personal Loan Interest Rate Comparison
| Bank | Interest Rate (p.a.) | Processing Fee | Max Tenure |
|---|---|---|---|
| Bank of Baroda | 10.90% – 17.00% | Up to 2% | Up to 60 months |
| SBI | 11.15% – 14.30% | 1.5% + GST | 72 months |
| HDFC Bank | 10.50% – 21.00% | Up to 2.5% + GST | 60 months |
| ICICI Bank | 10.99% – 20.00% | Up to 2.25% + GST | 60 months |
| Axis Bank | 11.00% – 22.00% | Up to 2% + GST | 60 months |
With one of the lowest starting rates, BOB personal loan interest rate makes it a cost-effective option for many borrowers.
EMI Calculator
Bank of Baroda Personal Loan Eligibility
To qualify for a BOB bank personal loan, you need to meet the following conditions:
For Salaried Individuals:
- Age: 21 to 60 years
- Employment: Minimum 1 year with current employer
- Net Monthly Income: ₹15,000 and above
- CIBIL Score: 700 or above preferred
For Self-Employed Individuals:
- Age: 25 to 65 years
- Business Continuity: Minimum 2 years
- Annual Income: ₹2 lakh and above
- CIBIL Score: 700 or more
Documents Required
| Salaried | Self-Employed |
|---|---|
| PAN & Aadhaar Card | PAN & Aadhaar Card |
| 3-month salary slips | Business proof |
| 6-month bank statement | 6-month bank statement |
| Employment ID or Offer Letter | ITR for last 2 years |
| Passport-size photo | CA-certified financials |
Use Bank of Baroda Personal Loan Calculator
The Bank of Baroda personal loan calculator lets you estimate your EMI quickly. You just need to input:
- Loan Amount
- Tenure (in months)
- Interest Rate
Example EMI Table:
| Loan Amount | Tenure | Interest Rate | Monthly EMI |
|---|---|---|---|
| ₹1,00,000 | 12 mo | 11% | ₹8,840 |
| ₹3,00,000 | 24 mo | 12% | ₹14,130 |
| ₹5,00,000 | 36 mo | 13% | ₹16,870 |
| ₹10,00,000 | 60 mo | 14% | ₹23,268 |
This helps you plan your loan in a stress-free manner.
Bank of Baroda Personal Loan Application – Step-by-Step
Here’s how to bob personal loan apply online or offline:
Online Application
- Visit Official Website
Go to the BOB loan section. - Fill the Application Form
Enter your personal, employment, and income details. - Upload Documents
Submit scanned copies of PAN, Aadhaar, salary slips, etc. - Check Eligibility Instantly
The system checks your credit score and loan amount eligibility. - Get Approval and Disbursement
On approval, the amount is credited directly to your account.
Offline Application
- Visit Nearest BOB Branch
Collect the personal loan application form. - Attach Required Documents
Submit ID, address, income proofs, etc. - Meet the Loan Officer
They will verify and process your application. - Loan Disbursal
Once approved, your funds are released.
Benefits of Bank of Baroda Personal Loan
- No Collateral Required
- Attractive Interest Rates
- Quick Disbursal
- Top-up and Balance Transfer Available
- Prepayment Options Without Charges
- Transparent Processing and EMI Structure
Tips to Improve Loan Approval Chances
- Maintain a credit score above 750
- Avoid applying for multiple loans at once
- Show stable income or business track
- Apply for an amount that fits your repayment ability
- Use the Bank of Baroda personal loan calculator for planning
Conclusion
A Bank of Baroda personal loan is a smart financial product for salaried and self-employed individuals. With competitive bank of baroda personal loan interest rate, flexible tenures, and minimal documentation, it offers the right mix of speed and savings. Whether you apply online or offline, the process is straightforward and efficient.
Use the bank of baroda personal loan calculator to choose the best plan and apply confidently. For all your personal finance needs, the BOB bank personal loan offers trust, transparency, and ease.