How to take/get a personal loan from the Bank of Baroda? Bank Of Baroda Personal Loan Interest Rate, Contact Number: Are you planning to take a personal loan? Are you looking for a bank that can give you a loan of more than Rs? Do you want to apply for a loan in a bank with low-interest rates?
If you also have the same question, then this article is for you. Come friends, today we will know about one such bank which gives you a loan of more amount according to easy terms.
Friends Bank of Baroda is one of the leading banks in India. Bank of Baroda is taken with respect among the major banks of India. Bank of Baroda offers various types of loans to its customers. And at the same time, it is also a reliable bank. By the way, almost all types of loans are given by the Bank of Baroda. Such as education loan, gold loan, home loans, business loan, personal loan, etc. Friends, in this article we will only know about a personal loan.
Bank Of Baroda Personal Loan (Bank Of Baroda Loan Information)
Personal loan up to a maximum of Rs 10 lakh is given by the Bank of Baroda. That too at just 10% interest rates. Which you can return in easy 5 years time period. A personal loan can be given to any person. For this, you have to fulfill specific eligibility criteria.
After which your loan is approved. The best part is that this loan also charges only 2% as a processing fee. And at the same time, if you want to repay the loan before the stipulated period, then no separate fee is charged for this also. While other banks carry foreclosure charges and prepayment charges. It is worth noting that if you want to take a Personal Loan from Bank of Baroda.
So for this, you should have your own business or any job. So that you can assure the bank that you will remember the loan. And at the same time, your age should be between 21 years to 65 years. If you meet these requirements, your chances of getting the loan approved are very high.
Read More: How to Get HDFC Personal Loan
Loan Name Bank Of Baroda Personal Loan
Loan Amount (Max) Rs 10 lakh
Loan interest rates 10% p.a.
Processing Fee 2% + GST
Loan tenure 5 years (Max)
Qualifying Employment + 21 to 65 Years
no prepayment charges
Foreclosure charge none
Bank of Baroda Personal Loan Criteria & Eligibility
Let us know what are the qualifications required to take a loan from the Bank of Baroda.
To take a loan from the Bank of Baroda, your age should be between 21 years and to a maximum of 60 years. In many cases, it can even be 65 years.
To take the Bank of Baroda sale on, you must have self-employment, this job money. So that you can assure the bank that you will pay the principal amount as well as the interest rate.
Along with this, you should also be a customer of Bank of Baroda for the last 1 year, that is, your bank account should be in Bank of Baroda for the last 1 year. Only then can you take a personal loan.
Fixed Liability to Income Ratio (FOIR) – FOIR for employees of Central/State Government, Autonomous Bodies, Public/Joint Sector Undertakings, and Educational Institutions having minimum continuous service for 1 year and having salary account with the bank A maximum of 60% of the Gross Monthly Income (GMI) payable for Rs. How to take/get a personal loan from Bank of Baroda? Bank Of Baroda Personal Loan Interest Rate Contact No.
Read More: SBI Personal Loan
Bank of Baroda Salaried Employees FOIR Eligibility
For other salaried applicants, the FOIR requirements are as follows:
40% of GMI: If GMI is 75,000
is less than Rs.
50% of GMI: If GMI is Rs.5,000 and above but less than Rs.200000.
60% of GMI: If GMI is Rs. 2,00,000 or more.
For Government servants and salaried applicants working with Public/Joint Sectors, Autonomous Bodies, etc., along with BoB Salary Account, the previous month’s salary should be credited to the Salary Account.
A copy of the bank statement is also required. It can be different for self-employed and employed people.
If you fulfill this eligibility then your loan application will be approved. And you can apply for a loan.
Hope you have understood about bank of Baroda personal loan criteria/ Bank of Baroda Personal Loan Eligibility.
Bank of Baroda Personal Loan Interest Rate
The Bank of Baroda offers annual interest rates of up to 10% for employed people and those running their businesses. But if your relationship with the bank is new and you want to take a loan. So in such a situation, the bank can recover the loan up to 12% from the bank. Bank of Baroda charges less interest on personal loans than other banks. This is the reason why common people prefer Bank of Baroda Personal Loan. How to take/get a personal loan from the Bank of Baroda? Bank Of Baroda Personal Loan Interest Rate Contact No.
Come friends, you know that we often see about the documents required to take a loan from the Bank of Baroda. That for the loan process of any bank, most of the running has to be done in the paper process itself. In such a situation, we should find out about the required documents in advance. If you want to take a personal loan from the Bank of Baroda. So friends, let us tell you about the documents required to take a personal loan.
- Photo identity card: A copy of your passport/voter ID / Aadhar card/driving license, etc. (any)
- Address Proof: A copy of your electricity bill/ration card/passport
- Photocopy of salary slip of last 3 months
- Income Certificate: Latest 3 months bank statement of the bank account
- Employment Certificate: Certificate of continuous employment for the last one year
- 2 passport size photographs
- (How to take a personal loan from Bank of Baroda)
Specific Documents Required for Salaried Employee
- Salary slip for last 3 months
- Bank account latest 3 months bank statement
- Employment certificate mentioning continuous employment of one year
- Specific Documents Required for Self Employed
- Certified P&L for the last 2 years
- Approved Income Tax Returns for at least the last 2 years.
- Proof of business registration and business continuity of at least 1 year.
Read More: ICICI Bank Personal Loan
Bank of Baroda Personal Loan Calculator
Friends, while taking a loan, special care should be taken that what will be your monthly EMI. Because many times we take a loan of more amount due to lack of money, but at the time of its repayment we have to face a lot of problems. That is why you are advised to take special care of monthly EMI while taking a loan.
Let us tell you how you can check your monthly EMI. Loan calculators are made available by all banks for the convenience of customers so that it can be easy for you to know your monthly EMI. For example, if you want to take a loan of Rs 5 lakh from Bank of Baroda, the bank has fixed 10% annual interest rates on your loan. And you have taken this loan for a time period of 5 years.
So you will have to pay ₹ 10,624 as loan EMI. Your Total Interest Payable will be ₹ 1,37,411. That is, you will have to pay ₹ 6,37,411 as the total amount (Principal + Interest) including interest rates. You can also check your Monthly EMI by visiting the official website of Bank of Baroda. If you want to know about your monthly installment then click on the Bank of Baroda Personal Loan Calculator link.
Bank of Baroda Personal Loan Contact Number
For any kind of complaint or help, you can contact on the number given below. You can get the information by visiting any nearest bank branch.
Bank of Baroda on 1800-258-4455 and 1800-102-4455 (Toll-Free)
Bank Of Baroda Personal Loan Apply Online (How to get/get a Parcel Loan from Bank of Baroda)
Friends, loans can be taken from Bank of Baroda both online and offline. You can take an offline bank loan by visiting any nearest bank branch. For this, you will have to submit Form No. 16 to the bank along with your required documents. If your given information is verified, then the bank will approve your loan. Similarly, you can also take online bank loan from Bank of Baroda. Let’s know step by step Bank of Baroda personal loan online apply (How to get / get personal loan from Bank of Baroda)
How to Apply for Bank of Baroda Personal Loan
First of all, you have to go to the official website of Bank of Baroda.
You will see a variety of options on the official website.
One of which will also be an option for a personal loan. You have to click on the option of Personal Loan. After that you will be redirected to a new page.
Where you will be asked for your necessary information and your necessary documents will be uploaded.
After this, the bank agent will contact you. And we will know about your eligibility criteria and information. Many times the bankers call you to the bank branch itself. And sometimes he comes to your house to check the truth. Your loan is approved after following all the terms and conditions. The loan amount will be directly credited to your account.
This is how you can get a personal loan from Bank of Baroda online.
How To Take Bank Of Baroda Personal Loan Review
Friends, now let us talk about whether taking a personal loan from Bank of Baroda will prove beneficial or not. Friends, the interest rates of Bank of Baroda are neither very high nor very low. Many big banks give loans at lower interest rates than Bank of Baroda. And many banks give loans at higher interest rates than Bank of Baroda.
In such a situation, Bank of Baroda is an average bank regarding interest rates. Friends, taking a loan from Bank of Baroda proves to be beneficial because the loan period can also be given by Bank of Baroda for a long time. Also, if you want to finish your loan before the time period. So for this also Bank of Baroda does not take any charge.
Bank of Baroda also charges only 2% as processing fee. And there are no foreclosure charges either. In such a situation, we can say that taking a loan from Bank of Baroda can prove to be beneficial. After reading many reviews, we also saw that Bank of Baroda may ask for documents from its customers many times, and loan approval also takes time. On an average we can say that taking loan from Bank of Baroda proves to be profitable.
Conclusion (How To Take Loan From Bank Of Baroda)
Friends, today we learned about Bank of Baroda personal loan (bank of baroda loan ki jankari). bank of baroda personal loan criteria. bank of baroda personal loan eligibility. bank of baroda personal loan interest rate. bank of baroda personal loan documents. bank of baroda personal loan calculator. Bank of Baroda Personal Loan Online Apply (How To Take Loan From Bank Of Baroda). bank of baroda personal loan contact number. bank of baroda personal loan review. And from the related subject we have provided you all the information.
If you still do not understand anything, then you can ask it in the comment section. Also, if you are interested to know about any other loan, then you can find out by visiting the home page of this website. Our website provides detailed information about all important and major loans like Instant Loans, Personal Loans, Top Loans in India, Kisan Loans, Business Loans and Education Loans.
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