Bank of Baroda Personal Loan: Interest Rate, Loan Requirements and How to Apply for the Loan?

Bank of Baroda Rs 15 lakh Provides personal loan up to Rs. Bank of Baroda personal loan interest rates start at 10% and have a tenure of up to 5 years.

The bank also offers pension loans for pension account holders at an interest rate of 9.35% per annum. Read this article to know more about Bank of Baroda Personal Loan.

Baroda Personal LoanTypes of Bank of Baroda Personal Loan

• Purpose –  For all purposes other than speculation
• Loan Amount  – Maximum  – Up to Rs.15 Lakh (Metro & Urban)Rs.15 Lakh (Semi-Urban & Rural)
•  Minimum  –  Rs 1 lakh (Metro and Urban) up
• to Rs.50,000. up to (semi-urban and rural)
• Duration –   48- 60 months

Baroda Personal Loan Kovid-19

• Purpose : To meet any financial requirement arising out of COVID-19 (other than betting)
• Loan Amount : Minimum – Rs 25,000.                 Maximum – Rs 5 lakh
• Duration : Up to 5 years

baroda loan for pensioner

• This loan can be taken by pensioners to meet their personal needs, excluding speculation.
• Pre-approved personal loan
• Purpose : To meet any financial requirement arising out of COVID-19 (other than betting)
• Loan amount : Rs.5 lakh As far as
• Duration : Up to 5 years

Eligibility Criteria for Bank of Baroda Personal Loan

• the minimum Age  – 21 Years
• Maximum Age – For Salaried : 60Years For                          Non – Employed : 65 Years

Employees of government bodies/private companies working for at least one year

• Employees of Private Limited Companies, Proprietorship Firms, Trusts and Partnership Firms having work experience of at least one year
• NRIs/PIOs and staff members cannot avail this loan
• Insurance agent in business for at least last 2 years
• Non-Employed (Self-Employed) people who have been in business for at least one year
• Non-employed (self-employed) professionals such as doctors, engineers, company secretaries, architects, interior designers, etc. with a minimum of 1 year of work.

Bank of Baroda Personal Loan: Documents Required

Following are the documents required to avail Bank of Baroda personal loan :

Filled loan application form with 3 passport size photographs. Along with this, Form 135 will also have to be submitted which gives details of liabilities and assets.

Last 6 months bank statement and updated passbook

Identity Proof like  PAN Card , Aadhar Card , Voter ID, Driving License, Passport, Employee ID issued by your Company, Certificate of Practice and Identity Documents issued by relevant professional bodies like CFAI, ICAI, ICWA.

For salaried applicants:

Bank of Baroda account statement for the last 6 months/salary slip for the last 3 months

For non – employed applicants : _   

• Income tax return of last 1 year
• Profit and Loss Statement, Balance Sheet for the last 1 year
• Income Tax Challan / Clearance Certificate / IT Assessment / TDS Certificate (Form 16A) / Form 26AS
• professional Proof :  Registration Certificate, Gumasta License, Service Tax Registration, etc.