Please Note: Bank of Baroda is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only.
Bank of Baroda Personal Loan Highlights – May 2022 | |
Interest Rate | 8.65%-16.00% p.a. 9.75% p.a. (for pensioners) |
Loan Amount | Up to Rs 15 lakhs |
Tenure | Up to 5 years |
Processing Fee | 2% (Rs 1,000-10,000)+GST |
Table of Contents
Bank of Baroda Personal Loan Interest Rates
Type of Employees | Interest rate (p.a.) |
Category A :(Employee of Private / Public, Trust, LLP, Insurance Agent, Self Employed Professional and business persons) having account relationship with other Bank | 12.40% to 16.00% |
Category B : (Employee of Private / Public, Trust, LLP, Insurance Agent, Self Employed Professional and business persons) having account relationship with our Bank | 10.40% to 14.00% |
Category C: Silver : 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 other Bank | 9.65% to 14.00% |
Gold: Same target customers as mentioned in Silver Category, however, salary account must be with our Bank. | 9.15% to 14.00% |
Govt Employees / defence personnel maintaining salary account with our Bank under scheme code SB 182 & 186 | 8.65% to 9.15 |
Loan Product | Interest rate (p.a.) |
Baroda Loan to Pensioners | 9.75% |

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Comparison of Bank of Baroda Personal Loan vs. Other Lenders
Banks/NBFCs | Interest Rates (per annum) |
Bank of Baroda | 10.40%-16.00% |
HDFC Bank | 10.25% – 21% |
SBI | 9.60% – 13.85% |
ICICI Bank | 10.25% onwards |
Axis Bank | 10.25% onwards |
Kotak Mahindra Bank | 10.75% onwards |
IndusInd Bank | 10.49% onwards |
IDFC First Bank | 10.49% – 23% |
Bajaj Finserv | 13.00% onwards |
Tata Capital | 10.99% onwards |
EMI Calculation
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395

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Types of Bank of Baroda Personal Loans
Baroda Personal Loan
- Purpose: Non speculative activities
- Loan Amount: Maximum: Up to Rs 15 lakh (metro and urban)
Rs 15 lakh (semi-urban and rural)
Minimum: Up to Rs 1 lakh (metro and urban)
Up to Rs 50,000 (semi-urban and rural)
- Tenure: 48-60 months
Baroda Personal Loan Covid-19
- Purpose: For any financial requirements including temporary liquidity mismatch caused by Covid-19 except for speculation
- Loan Amount: Minimum- Rs 25,000
Maximum- Rs 5 lakh
- Tenure: Up to 5 years (co-terminus with qualifying link loan/maximum door to door maturity)
Baroda Loan to Pensioners
Purpose: Can be availed by the pensioners to meet their personal requirements, except for speculations.
Pre-approved Personal Loan
- Purpose: To meet all the financial requirements including liquidity mismatch due to Covid-19, except for speculations
- Loan Amount: Up to 5 lakhs
- Tenure: Up to 5 years (maximum door to door maturity/co-terminus with qualifying link loan)
Eligibility for Bank of Baroda Personal Loan
- Minimum age – 21 years
- Maximum age- For salaried: 60 years
For non-salaried: 65 years
- Employees of government bodies/private companies with a service of at least 1 year
- Employees of private limited companies, proprietorship firms, trusts and partnership firms with a service of at least 1 year continuously
- NRI/PIO and the members of the staff are ineligible
- Insurance agents in business for at least last 2 years
- Self-employed businessmen with at least 1 year of stable business
- Self-employed professionals like doctors, engineers, company secretaries, architects, interior designers, etc with at least 1 year of stable business

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Documents Required for Bank of Baroda Personal Loan
The following are common documents needed to avail Bank of Baroda Personal Loan:
- Duly filled loan application form with passport size photographs
- Form 135 with details of liabilities and assets should be submitted along
- Last 6 months bank statement and updated passbook
- ID proof such as PAN card, aadhar card, voter ID, driving license, passport, employee ID issued by the organization, practice certificate and identity document issued by relevant professional bodies like ICFAI, ICAI, ICWA.
- Any other document required by the bank
For Salaried applicants:
- A/c statement for last 6 months of Bank of Baroda/any other bank Salary slips for last 3 months
For Self-employed applicants:
- Income tax returns for past 1 year
- Profit and loss statement, income computation and balance sheet for last 1 year
- Income tax challan/clearance certificate/IT assessment/TDS certificate (Form 16A)/Form 26 AS
- Business proofs: Registration certificate, Gomasta license, Service tax registration, etc

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Bank of Baroda Personal Loan Fees and Charges
Processing Fee | 2% (Rs 1,000-10,000)+GST |
Penal Interest | 2% on the outstanding loan amount |
Foreclosure Charges | NIL |
Preclosure Charges | NIL |
Know All About Bank of Baroda Personal Loan Foreclosure Charges

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Bank of Baroda Customer Care
Customers can contact the Bank of Baroda customer using any of the following means:
- Toll-Free Numbers: 1800-258-4455 / 1800-102-4455
- Branch Visit: You can visit the nearby Bank of Baroda branch to get your queries answered
FAQs
Q. What is the turnaround time for Bank of Baroda Personal Loan?
A. Bank of Baroda has not stated the turnaround time for personal loans. Lenders usually disburse personal loans within 2-7 working days from the date of application. Bank of Baroda offers digital personal loans that might take less time for disbursal due to its end-to-end paperless process. It also offers pre-approved personal loans to select customers with instant disbursement of loan amount. Other lenders offering pre-approved instant personal loans include HDFC Bank, Axis Bank and ICICI Bank.
Q. Can I have a co-applicant while applying for Bank of Baroda Personal Loan?
A. Co-applicants are not allowed while applying for Bank of Baroda Personal Loan. Applications are considered on individual basis only.
Q. Does Bank of Baroda give instant personal loan?
A. Bank of Baroda offers pre-approved personal loans to select customers with instant disbursement of loan amount.
Q. What is the maximum credit score required to avail Bank of Baroda Personal Loan?
A. Bank of Baroda has not specified a cut-off credit score for its personal loan applicants. However, credit score of 750 and above is considered to increase the chances of availing personal loan at lower interest rates.