What is Baroda Personal Loan?
Loan amount ranges from:
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₹50,000 to ₹20 lakh (based on location and applicant profile)
Key Benefits of Baroda Personal Loan
The Bank of Baroda personal loan comes with several advantages:
✔ 1. Emergency Funds Anytime
Instant funds for medical emergencies, house repairs, travel, and more.
✔ 2. Advantage Over Credit Cards
Lower interest rates than credit card EMIs and cash withdrawals.
✔ 3. No Strict Credit Limits
Borrow as per your income profile and bank relationship.
✔ 4. Flexible Repayment Tenure
Long tenures help reduce EMI burden.
✔ 5. High Loan Amount
Loan up to ₹20 lakh, depending on income and occupation.
✔ 6. Minimal Documentation
Easy paperwork for both salaried and self-employed individuals.
✔ 7. Easy Top-Up Loans
Existing borrowers can get additional funds without fresh documentation.
✔ 8. Free Processing for Government Employees
Government employees maintaining salary accounts in Bank of Baroda get zero processing fees.
Baroda Personal Loan Features
✔ Loan Amount
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Maximum: ₹20 lakh
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Minimum:
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₹1 lakh (Metro & Urban)
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₹50,000 (Semi-urban & Rural)
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✔ Rate of Interest
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Floating and Fixed Rate options available
✔ Service Requirement
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Salaried: Minimum 1 year of continuous service
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Self-employed/Professionals: Minimum 1 year of stable business
✔ Age Limit
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Minimum age: 21 years
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Maximum age:
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Salaried: Up to 60 years (retirement age)
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Non-salaried: Up to 65 years
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✔ Processing Charges
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Government employees with BOB salary account: NIL
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Others: 1% – 2% of loan amount + GST
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Minimum: ₹1,000 + GST
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Maximum: ₹10,000 + GST
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✔ Penal Interest
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2% penalty on overdue loan amounts
Baroda Personal Loan Eligibility Criteria
Eligible Borrowers
- ✔ Employees of Central/State Government organizations
- ✔ Public/joint sector undertakings & autonomous bodies
- ✔ Employees of MNCs and reputed private companies
- ✔ Doctors, engineers, architects, consultants & professionals
- ✔ Self-employed businesspersons with minimum 1 year business history
- ✔ Insurance agents with minimum 2 years of business
Not Eligible
- ✘ NRI / PIO
- ✘ Staff members
- ✘ Co-applicants (loan is given to individuals only)
Purpose of Loan
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Any personal purpose except speculation or illegal activities
Documents Required for Baroda Personal Loan
Here is the complete list of documents needed during application:
1. Basic Documents
- Filled loan application form
- 3 passport-size photographs
- Form 135 (assets & liability statement)
2. Proof of Identity (Any One)
- Aadhaar Card
- PAN Card
- Passport
- Voter ID
- Driving License
- Government/Corporate employee ID card
- Certificate of practice (CA, CS, ICWA etc.)
3. Proof of Residence (Any One)
- Passport
- Voter ID
- Driving License
- Electricity bill / Gas bill
- Bank statement with address
- Registered rent agreement
4. For Salaried Applicants
- Last 3 months’ salary slips
- Last 6 months’ bank statement (BOB/other bank)
5. For Self-Employed Applicants
- Income Tax Return (ITR) for last 1 year
- Balance sheet & profit-loss statement (1 year)
- 26AS / TDS Certificate
- Business Proof:
- GST certificate
- Shop Act / Registration
- Professional license
- Trade certificate
Baroda Personal Loan Interest Rates (Latest 2025)
Interest rates vary depending on:
- Applicant’s credit score
- Occupation
- Relationship with the bank
- Loan amount & tenure
(For exact interest rates, customers must visit a nearby Bank of Baroda branch.)
Most Important Terms & Conditions (MITC)
- Loan strictly for personal use only.
- No co-applicants allowed.
- Penal interest applicable on overdue EMIs.
- Repayment tenure must be within retirement age limit (for salaried).
- Processing fees vary based on employment type.
❓ Baroda Personal Loan FAQ (2025)
1. What is the maximum amount I can get?
- Up to ₹20 lakh, depending on eligibility and income.
2. Can I apply if I am self-employed?
- Yes, self-employed professionals & businesspersons with minimum 1 year experience can apply.
3. Is there any processing fee?
- Government employees with BOB salary accounts: No fee
- Others: 1% – 2% of loan amount
4. What is the minimum age to apply?
- 21 years.
5. Does Bank of Baroda offer fixed and floating interest?
- Yes, both options are available.
6. What is the repayment tenure?
- Tenure depends on income, loan amount, and age—but generally flexible.
Conclusion
The Baroda Personal Loan is one of the best choices for salaried and self-employed individuals looking for quick, hassle-free financial assistance. With benefits like high loan limits, flexible tenure, minimal documentation, and zero processing fees for government employees, the Bank of Baroda stands out as a trusted lender.Whether you need money for an emergency, travel, wedding, or home renovation, the Baroda Personal Loan provides an affordable and reliable solution.
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