Bank of Baroda offers a wide range of retail loans to meet your diverse needs. Whether the need is for a new house, child’s education, purchase of a new car or home appliances, our unique and need specific loans will enable you to convert your dreams to realities.
Bank of Baroda offers different type of accounts to meet your financial goals and secure your future. Choose from our wide range of deposit products that are …
Bank of Baroda (BOB or BoB) is a central public sector undertaking under the ownership of Ministry of Finance, Government of India.
Bank of Baroda (BOB or BoB) is a central public sector undertaking under the ownership of Ministry of Finance, Government of India. It is headquartered in Vadodara. It is the 2nd largest PSU in India in terms of marketcap and business after SBI, with 132 million customers, a total business of US$218 billion, and a global presence of 100 overseas offices. Based on 2019 data, it is ranked 1145 on Forbes Global 2000 list.
The bank has 107 branches/offices in 24 countries (excluding India) including 61 branches/offices of the bank, 38 branches of its 8 subsidiaries and 1 representative office in Thailand. The Bank of Baroda has a joint venture in Zambia with 16 branches.
IndiaFirst Life Insurance Company is a joint venture between Bank of Baroda (44%) and fellow Indian state-owned bank Andhra Bank (30%), and UK’s financial and investment company Legal & General (26%). It was incorporated in November, 2009 and has its headquarters in Mumbai. The company started strongly, achieving a turnover in excess of ₹ 2 billion in its first four and half months.
Get easy loan from Bank of Baroda offer a quick and easy solution to all your urgent financial needs.
Whether you need funds for a medical emergency in your family, your sibling’s wedding, or to renovate your home, a personal loan can finance all your requirements.
Personal loans have many advantages over other forms of credit, such as credit cards and informal loans from friends, family members or untrustworthy financiers.
Most salaried persons, self-employed and professionals can apply for personal loans. With attractive interest rates, minimal documentation and speedy processing, Bank of Baroda offers among the best personal loans today.
The personal loan amount varies by location. In metro and urban areas, the loan amounts can range from Rs.1 lakh to Rs.10 lakh. In semi-urban and rural areas, the personal loan amount varies from Rs.50,000 up to Rs.5 lakh.
Applicants need to be at least 21 years of age to be eligible for a personal loan, while co-applicants are not allowed. The maximum age to apply for personal loans is 60 years for salaried and 65 for non-salaried persons at the end of the repayment period.
How to calculate EMIs for Bank of Baroda Personal Loans
You can compute EMIs for your Bank of Baroda personal loan through any online EMI calculator. BankBazaar.com has a convenient personal loan calculator which can be used simply by dragging a slider. It makes your loan application easier. You can plan your loan expenses and manage your overall finances efficiently with the help of this calculator. To make use of it, you will need to input certain details regarding your loan. These details include loan amount, loan tenure, processing fee, prepayment fee, and interest rate.
You can pay your EMIs promptly to clear your loan on time. During the first few months of your loan tenure, you will be paying a higher interest. Towards the end of your loan tenure, you will be paying a higher principal compared to your interest.
Let us now look at an example to understand how this EMI calculator works. The interest rate is 10.50% p.a. and that the loan applicant is not interested in making any pre-payment. Each row in the table shows the EMIs for different loan tenures and loan amounts.
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Apply easy loan with less documents from the official website of bankofbaroda.in
What is the minimum loan tenure for Bank of Baroda personal loans?
The minimum loan tenure is 12 months.
What will the lowest EMI be for BOB personal loan worth Rs.1 lakh?
If you go for a BOB personal loan worth Rs.1 lakh, your lowest EMI will be Rs.2,149.
What is the maximum loan tenure for Bank of Baroda personal loans?
The maximum loan tenure is 60 months for employees working in government sector. For others it is 48 months.
Am I allowed to include my spouse’s income when I want to apply for a Bank of Baroda personal loan?
Yes, you can include your spouse’s income when you have to improve your loan eligibility in order to apply for a BOB personal loan.
What is the processing fee that I will have to pay for my Bank of Baroda personal loan?
The processing fee for your BOB personal loan will be 2% of loan amount along with the service tax.
What is the minimum loan quantum for applicants in metro and urban areas?
The minimum loan quantum is Rs.1 lakh.
What is the maximum loan quantum for applicants in metro and urban areas?
The maximum loan quantum is Rs.10 lakh.
What is the minimum loan quantum for applicants in semi-urban and rural areas?
The minimum loan quantum is Rs.50,000.
What is the maximum loan quantum for applicants in semi-urban and rural areas?
The maximum loan quantum is Rs.5 lakh.
Can I get the assistance of a co-applicant to apply for a BOB personal loan?
No, Bank of Baroda accepts personal loan applications only from a single individual. The bank does not allow co-applicants to apply for a personal loan.
What is the minimum age requirement for a BOB personal loan?
You will have to be at least 21 years to apply for BOB personal loan.
How will the loan quantum be decided for a BOB personal loan?
The loan quantum limit will be fixed according to the classification of the financing branch of the bank.
If I am an insurance agent, can I apply for a BOB personal loan?
Yes, you can apply for the loan if you are an insurance agent if you have been doing business for at least 2 years.
If I am a staff member of Bank of Baroda, can I apply for a BOB personal loan?
No, the bank does not allow staff members to apply for this loan product.
What is the maximum repayment period if I am working with the central or state government or public and joint sector undertakings?
The maximum repayment period is 60 months.
What is the maximum repayment period if I am working with any other organisation?
The maximum repayment period is 48 months.