Bank of Baroda Personal Loan

• Bank of Baroda offers quick personal loans to meet the personal requirements of applicants.
• The bank also offers digital personal loans with online application, paperless process and hassle-free financing.
• Pensioners having their pension accounts at Bank of Baroda are eligible for Baroda Pension Loans to meet their personal requirements.
• The lender also offers pre-approved personal loans with instant loan disbursal and zero documentation.
• The lender does not levy any prepayment charges on personal loans availed at floating interest rates.

• Purpose: Bank of Baroda offers personal loan to its applicants to fund their personal requirements such as wedding, vacation, medical expenses, etc.
• Loan Amount:
  • Minimum loan amount- Rs. 1 lakh (metro & urban branch) & Rs. 50,000 (rural and semi-urban branch)
  • Maximum loan amount- Up to Rs. 20 lakh (as per the borrower’s credit profile and the account relationship with the bank)
• Tenure: Up to 7 years

• Purpose: Retired pensioners can avail Baroda Loan to Pensioners to meet their emergency financial needs.
• Loan amount:
  • For regular pensioners- Rs. 8 lakh (pensioners up to 70 years) & Rs. 5 lakh (pensioners above 70 years)
  • For family pensioners- Rs. 3 lakh (pensioners up to 70 years) & Rs. 1.5 lakh (pensioners above 70 years)
• Tenure:
  • Regular pensioners/family pensioners up to 70 years of age- 5 years
  • Regular pensioners/family pensioners above 70 years of age- 3 years

• Purpose: Bank of Baroda offers Baroda Digital Personal Loan to its applicants to fulfil their various personal requirements other than speculative purposes.
• Loan Amount: Rs. 50,000-Rs. 10 lakh
• Tenure: 1 year-5 years

• Purpose: Bank of Baroda offers Digital Pre-approved Personal Loan to its select set of customers with instant loan disbursement and hassle-free documentation process.
• Loan Amount: Rs. 50,000-Rs. 5 lakh
• Tenure: 18 months-3 years

Also Read: How to calculate your personal loan eligibility?

• Baroda Digital Pre-Approved Interest Rate: Starts from 12.85%
• Baroda Digital Personal Loan Interest Rate: Starts from 12.85%
• Baroda Loan to Pensioners: 11.15% (Digital), 11.65% (Non-Digital) and 9.00% (For Retired Bank of Baroda/their Family pensioners)

• Age Limit: Minimum 21 years for both salaried and self-employed applicants.

  • Maximum age: 60 years for salaried individuals.

  • Maximum age: 65 years for self-employed applicants.

• Self-Employed Requirement: Self-employed professionals and business owners must have a minimum of 1 year of stable business operations to avail the personal loan.

• Age Criteria:

  • Minimum: 21 years

  • Maximum: 58 years for salaried applicants

  • Maximum: 65 years for self-employed applicants

• Employment Type: Both salaried individuals and self-employed professionals/business owners are eligible.

• Not Eligible: NRIs (Non-Resident Indians) and Self-Help Groups (SHGs) cannot apply.

• Co-Applicant: Not permitted under Bank of Baroda personal loan.

• Eligible Pensioners:

  • Pensioners and family pensioners receiving pension through Bank of Baroda branches.

  • Pensioners whose pensions are disbursed through Treasury/DPDO (Defence Pension Disbursing Office) directly into their Bank of Baroda savings account.

  • Pensioners and family pensioners of Bank of Baroda staff.

• Family Pensioner Definition: The spouse of the pensioner, authorized to receive pension after the pensioner’s demise.

• Additional Requirement: The pensioner must be drawing a pension through the Bank of Baroda branch for at least the last three months, with the account showing satisfactory conduct (no cheque returns due to financial reasons)

• Duly filled application form along with 3 passport-size photographs
• Form 135 reflecting the details of assets and liabilities owned by the applicant
• Bank statement of the past 6 months, along with the updated passbook of the applicant
• ID Proof- Aadhaar card, PAN card, voter ID, passport, driving license, employee ID issued by relevant authorities, ID card or practice certificate issued by ICAI, ICFAI, ICWA, etc.
• Address proof- Driving license, passport, voter ID, utility bills (gas and electricity), rent agreement, bank account statement/updated passbook.

• Last 3 months' salary slips and
• Bank account statement of the last 6 months

• ITR for the last 1 year, Form 26AS
• Balance sheet, P&L account with income computation for the last 1 year
• Business proof such as Gomasta license, Service Tax Registration, Registration Certificate, Income Tax Challans/TDS certificate (Form 16A), IT Assessment or Clearance Certificate, Form 26AS for income declared in ITR

• Mobile number linked with the Bank of Baroda account
• Aadhar number for receiving OTP for eSignature and e-stamping

• PAN number and valid mobile number
• Aadhar number for obtaining OTP for eSignatures or e-stamping
• Digital bank statement for the last 6 months
• Net banking credentials
• Web camera for capturing pictures and for video KYC
• ITR e-filing credentials or digital ITR for the last 2 years for salaried individuals
• GST portal credentials or digital GST returns for the last 1 year for self-employed individuals

Also Read: Documents Needed for a Personal Loan in India

• Floating and Fixed Interest Rate Options: Choose between flexible floating rates or stable fixed rates as per your preference.
• Long Repayment Tenure: Repay comfortably with a loan tenure of up to 84 months (7 years).
• No End-Use Restrictions: Use the loan amount for any personal financial need—be it medical expenses, education, travel, or debt consolidation.
• Competitive Interest Rates: Competitive interest rates starting from 10.40% p.a., making borrowing affordable.
• Quick Approval & Disbursal: Enjoy fast processing and streamlined disbursal to meet urgent financial requirements.

• Toll free Number- 18005700/180050000
• Email- cs.ho@bankofbaroda.com