- Interest Rate: Starts from 10.15% p.a.
- Repayment Tenure: Up to 84 months
- Processing Charges: 2% of the loan amount + GST, NIL for Government Employees
- No end-use restriction on funds
- Minimal documentation
- Quick processing
Rates as of 16th April 2026
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Step 1: Enter your mobile number in the application form
Step 2: Provide your personal details
Step 3: Enter OTP to verify your mobile number
Step 4: Select the loan purpose and loan amount
Step 5: Compare offers and apply for the best-suited loan
Rates as of 16th April 2026
To qualify for a Bank of Baroda Rs. 10 lakh personal loan, you need to be eligible for the following criteria:
| Eligibility Criteria | Details |
|---|---|
| Age | Minimum: 21 years for both salaried and self-employed applicants Maximum: 60 years for salaried, 65 years for self-employed |
| Salaried Individuals | - Employees of Central/State Government, autonomous bodies, PSUs, public limited companies, MNCs, and educational institutions with at least 1 year of continuous service. - Employees of private limited companies, trusts, or LLPs with at least 1 year of continuous service. |
| Insurance Agents | Must have been actively conducting business for a minimum of 2 years. |
| Self-Employed Professionals | Includes doctors, engineers, architects, interior designers, tech/management consultants, practicing company secretaries, etc., with at least 1 year of stable business. |
| Self-Employed Business Persons | Must have at least 1 year of stable business operations. |
| Exclusions | Staff members, NRI/PIO applicants are not eligible. |
Also Read: Eligibility Requirements of a Personal Loan
The following documents are required by the Bank of Baroda when you apply for a personal loan with the bank:
Also Read: Personal Loan Required Documents
Bank of Baroda offers personal loans at both fixed and floating rates of interest. BoB personal loan interest rates are mentioned below:
| Category | Floating Rate | Fixed Rate |
|---|---|---|
| Government Employees (Salary A/c with BoB under scheme code SB 182 & 186) | 10.15% – 10.65% | 10.95% – 11.45% |
| Gold: Employees of Central / State Govt. / PSUs / Autonomous Bodies/ Listed Public Limited Company having external rating "A" & above / Joint Sector Undertakings, & Educational Institutions of National Repute, having salary account with Bank of Baroda | 10.65% – 15.50% | 11.20% – 14.05% |
| Category C: Silver (Same as Gold, Salary A/c with other Bank) | 11.15% – 15.50% | 11.70% – 14.05% |
| Category B: Private/Public/LLP/Self-Employed with an account relationship with BoB | 11.90% – 15.50% | 12.75% – 15.00% |
| Category A: (Same as B, with other Bank) | 13.90% – 17.50% | 14.70% – 18.00% |
Rates as of 16th April 2026
Before applying for a loan, be sure to thoroughly review all the fees and charges levied on Bank of Baroda personal loans. The following are the fees levied on Bank of Baroda personal loan of Rs. 10 lakh.
| Charges | Details |
|---|---|
| Processing Charges | 1% – 2% of the loan amount + GST |
| Penal Charges | 2% on loan outstanding |
| Pre-Payment / Pre-Closure Charges (Floating ROI) | NIL |
| Pre-Payment / Pre-Closure Charges (Fixed ROI) | 3% + GST on prepaid amount after payment of one EMI. No prepayment charges after 36 months. |
Choosing the right repayment tenure is crucial as it impacts both your monthly EMI and overall interest outgo. Here’s what you should consider:
Get up to ₹40 Lakh in 5 Simple Steps
Step 1: Enter your mobile number in the application form
Step 2: Provide your personal details
Step 3: Enter OTP to verify your mobile number
Step 4: Select the loan purpose and loan amount
Step 5: Compare offers and apply for the best-suited loan
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The Bank of Baroda Rs. 10 lakh personal loan interest rate starts at 10.40% p.a. and varies depending on your income, credit score, and repayment capacity.
You can repay a Bank of Baroda Rs. 10 lakh personal loan over a tenure ranging from 12 months to 84 months, depending on your repayment comfort.
A shorter tenure gives higher EMI but lower total interest, while a longer tenure offers smaller EMI but higher total interest outgo.
You need basic KYC documents, proof of income (salary slips, ITR, or bank statements), and proof of residence to apply for a Bank of Baroda Rs. 10 lakh loan.
Eligibility for a Bank of Baroda Rs. 10 lakh personal loan depends on your age (21–60 years for salaried, up to 65 for self-employed), income stability, and credit score (usually 750+).
With proper documents and eligibility, a Bank of Baroda Rs. 10 lakh personal loan can be approved and disbursed within a few working days.
Yes, the Rs. 10 lakh personal loan from Bank of Baroda comes with no end-use restriction. You can use it for weddings, education, travel, medical expenses, or debt consolidation.
You can use an online EMI calculator. Just enter loan amount (Rs. 10 lakh), interest rate (10.40% p.a.), and tenure (e.g., 60 or 84 months) to get an accurate EMI estimate.
Paisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners.
The APR (Annual Percentage Rate) of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the processing fees, documentation fees and other fees charged during the loan origination. The APR is expressed in the form of a percentage and thus, allows personal loan applicants to detect personal loan schemes offered at lower interest rates but with higher processing fees and/or other charges.
The APR of personal loans usually ranges between 11.29% to 35%. For example, assume that you have availed a personal loan of Rs. 5 lakhs @ 10.50% p.a. with a repayment tenure of 5 years. The processing fee charged for this loan is 1.5% of the loan amount, which amounts to Rs 7,500. Therefore, the total borrowing cost of your personal loan will be Rs 1,52,317 and its APR will be 11.16%.
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