Bank of Baroda Personal Loan

Personal Loan at 1%* p.m.

Apply & Get Instant Approval

Bank of Baroda Personal Loan Features

Eligibility Criteria Details
Bank of Baroda Personal Loan Interest Rate 9.75% p.a.
Lowest EMI per lakh Rs 2112
Tenure 12 to 60 months
Bank of Baroda Personal Loan Processing Fee 1% to 2% of Loan Amount
Prepayment Charges Allowed after 12 Months (2 – 4 %)
Part Payment Charges Allowed after 12 Months (2 – 4 %) 
Min Loan Amt ₹ 50,000
Max Loan Amt ₹ 75 Lakh

About Bank of Baroda:

Bank of Baroda is an Indian multinational, public sector banking and financial services company. It is under  Government of India. 

What is Personal Loan?

Personal Loan is an unsecured type of loan which helps you meet your current financial needs and in this applicants does not need to pledge any of his belonging or the security to the bank.  and your lender provides you a personal loan with the flexibility to use the funds as per the requirements

What Bank of Baroda offers you?

  1. Super fast approvals of upto Rs. 25 lacs on your salaried personal loan through our online facility.
  2. No need to move from bank to bank, we provide you with complete online solutions.
  3. Just log onto our online section, fill a simple form and in just 90 seconds get an approval for your application.

Online Account Access:

Just log in with your loan account number and access whatever information you want about your loan. And get all information about your loan like:

  1. repayment track
  2. interest certificate
  3. payment schedule etc. through our digital customer portal.

Bank of Baroda Personal Loan Eligibility:

For Salaried Individuals




22 years – 65 years.

Salaried individuals with minimum monthly income Rs.15,000 (Rs.20,000 for applicants residing in Mumbai & Delhi; Rs.18,000 for applicants residing in Chennai, Hyderabad, Bangalore, Pune & Kolkata; For Others Rs. 12,000)

Total years in job/profession

2 Years

Years in current residence

1 Year (One Day if in a Super A Company)

For Self Employed Individuals


Self Employed


23 years (self-employed individuals) and 25 years (for doctors); Maximum age – 65 years

Minimum Turnover

Rs. 40 lakh for non-professionals; Rs. 15 lac for professionals; as per audited financials

Minimum Profit After Tax

Rs. 2 lac for Proprietorship Firm/Self-employed Individuals and Rs. 1 lac for non-professionals as per audited financials

Business Stability

In current business for at least 5 years and a minimum of 3 years for doctors

Existing relationship with the bank

Minimum 1-year liability relationship (current or savings account) or Asset relationship (loan) either live or closed in the last 36 months; repayment track as required


Bank of Baroda Personal Loan Documents:

  1. Residence proof: Firstly, the documents required for the residence proof includes:(passport/ID card/ Voter card/ aadhar card/ration/card/driving license) and if the applicants are living in rental apartments then has to submit his agreement, electricity bill on his name and address of the owner.
  2.  Self-employed:After that, the applicants of personal loan should file ITR for the last three months, and his business should be registered..Salaried applicants: The applicants have to his salary slip of last three months and bank statement of last six months.
  3. Identity proof  : In addition to, verification documents especially require one among the following:( passport/ID card/ Voter card/ aadhar card/ration/card/driving license) any one of them.
  4.  Under KYC  formality: Furthwrmore,every applicant has to submit his pan card, which is an essential document.
  5.  Two colored passport size photos: Lastly,(Applicants should not wear any glasses)

Bank of Baroda Personal Loan Interest Rates:

Rates of interest provided by the bank  are quite affordable. It starts at 10.75 % per annum.

Bank of Baroda Personal Loan tenure:

    1. Tenure is the time for which you have gotten the loan. It can be 1 year to 5 years.
    2. Pre-closure Charges –  Bank applies some charges on the pre-closure of the personal loan. It is 4% of the outstanding balance.

How to apply on magic

  1. Search for on Google.
  2. First of all, a form will open up.
  3. After that, fill the way with the required information.
  4. Lastly, you will get call back from us.