Bank of Baroda Marriage Loan

Bank of Baroda Personal Loan interest rates start from 11.05% p.a. The personal loan interest rates for availing Bank of Baroda marriage loans are based on factors like the loan applicants’ credit score, occupation profile and employer’s profile.

Loan applicants planning to avail personal loan for marriage from Bank of Baroda can opt for its personal loan scheme to meet their wedding related expenses. The Personal Loan Eligibility criteria set for loan applicants availing Bank of Baroda Personal Loans are as follows:

• Minimum age - 21 years
• Maximum age - 60 years (for salaried) and 65 years (for non-salaried)
• 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 continuous service of at least 1 year
• 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
• NRI/PIO and the members of the staff are ineligible

Additionally, Bank of Baroda may also consider the credit scores of their marriage loan applicants to determine their eligibility for availing personal loan like other lenders. Personal loan applicants with low or zero credit scores can avail the Step Up Credit Card co-branded with SBM Bank India Ltd., a lifetime free secured credit card issued by Paisabazaar.com against fixed deposits of SBM Bank, in order to maintain or improve their scores. Loan applicants who have managed to improve their credit scores have a better chance of availing the Bank of Baroda Personal Loan variants offered by the lender. Prospective marriage loan applicants should also use the Bank Of Baroda Personal Loan EMI Calculator to determine the EMIs and loan tenures based on their repayment capacity.

Identity proof

• PAN card
• Aadhar card
• Voter ID
• Driving license
• Passport
• Employee ID issued by the organization,
• Practice certificate and identity document with photo issued by professional bodies like ICFAI, ICAI, ICWA.

Proof of residence (any one)

• Valid passport
• Voter id card
• Driving license
• Postpaid utility bill (electricity bill and gas bill)
• Registered rent agreement
• Updated passbook/bank account statement

For salaried applicants

• A/c statement for last 6 months of Bank of Baroda/any other bank
• Salary slips for last 3 months
• Know more about the documents required for Personal loan for salaried

For self-employed applicants

• Income tax returns for past 1 year
• Profit and loss statement, income computation and balance sheet for last 1 year
• Clearance certificate/IT assessment and Income tax challan/TDS certificate(Form 16A)/Form 26 AS for the income declared in ITR
• Business proofs: Registration certificate, Gomasta license, Service tax registration, etc.

Other Documents

• Form 135 with details of liabilities and assets should be submitted along
• Last 6 months bank statement and updated passbook
• Duly filled loan application form with passport size photographs

Note: Loan applicants availing Bank of Baroda Marriage Loans may need to submit additional documents based on their profile.