Personal Loan EMI Calculator
Personal Loan EMI Calculator
  • Loan Amount:

    10000
    1500000
    500000
  • Rate of Interest (%):

    5%
    18%
    10.60
  • Loan Terms (monthly):

    12
    84
    60
  • Equated Monthly Installment (EMI) will be

  • Benefits
  • Features
  • Eligibility
  • Interest rates & charges
  • Documents Required
  • Most Important Terms and Conditions (MITC)

Baroda Personal Loan : Features

  • To apply for a personal loan, applicants can be employees of government bodies or private companies with minimum continuous service of one year. Similarly, self-employed professionals or business persons who want to apply for personal loans need to have their business or practice for at least one year.
  • Applicants need to be at least 21 years of age to be eligible for a personal loan, while co-applicants are not allowed. The maximum age to apply for personal loans is 60 years for salaried and 65 for non-salaried persons at the end of the repayment period.
  • Maximum Rs.20.00 lakhs (it is linked with borrower’s occupation and account relationship with Bank). Minimum Rs.1.00 lakh for Metro & Urban Branch Rs.0.50 lakh for Rural & Semi-Urban Branch
  • The processing charges for personal loan are calculated as
    For Govt. Employees who maintain salary account with Bank of Baroda: NIL
    For others: it ranges from 1.00% of loan amount to 2.00% plus GST, subject to
    Mini. Rs.1,000+GST
    Max. Rs.10,000+GST

Baroda Personal Loan : Eligibility

Purpose

For any purpose other than speculation.


Eligibility Borrowers
  • Employees of central/state Government/autonomous bodies/public/joint sector undertakings, public limited companies/MNCs & educational institutions with minimum continuous service for 1 year.
  • Employees of Private limited Companies, Trust, Limited Liability Partnership - with minimum continuous service for 1 year.
  • Insurance agents doing business for minimum of last 2 years.
  • Self-employed professionals (doctors, engineers, architects, interior designers, tech. and management consultants, practicing company secretaries, etc.) with minimum 1 year stable business.
  • Self-employed business persons with minimum 1 year stable business.
  • Staff members and NRI/PIO are not eligible

Co-Applicant

Applications to be considered on individual basis only. Co-applicants not to be allowed.


Age
  • Minimum: 21 years
  • Maximum:
    • For salaried persons: Age of borrower plus repayment period should not exceed retirement age or 60 years whichever is lower.
    • For non-salaried persons: Age of borrower plus repayment period should not exceed 65 years.

Quantum of Finance

Maximum

  • Rs.20.00 lakhs (it is linked with borrower’s occupation and account relationship with Bank)

Minimum

  • Rs.1.00 lakh for Metro & Urban Branch Rs.0.50 lakh for Rural & Semi-Urban Branch

Penal interest

Penal interest @2% shall be levied on loan outstanding amount


Processing Charges

For Govt. Employees who maintain salary account with Bank of Baroda: NIL

For others: it ranges from 1.00% of loan amount to 2.00% plus GST, subject to
Mini. Rs.1,000+GST
Max. Rs.10,000+GST


Specific Guidelines for Loan Eligibility

Employees of Central/State Government / PSUs /  Autonomous bodies /  listed Public limited with external rating A & above / joint sector undertakings & Educational Institutions with national repute (with minimum continuous service for 1 year and having salary account with our Bank)-

 

Employees of Central  / State Govt. / PSUs / Autonomous Bodies / Joint Sector Undertakings &  Educational Institutions with national repute (with minimum continuous service for 1 year and having salary account with other Bank)-

 

For others

Repayment Capacity (FOIR)

75% of GMI

 

70% of GMI

40% of GMI to 70% of GMI depending upon the income of the applicant.

Repayment Period

84 Months

72 Months

48 to 60 Months

Account Relationship
  • Loan amount up to Rs. 2 lakhs for Employees of Pvt Ltd Co / Public Ltd Co / Trust / LLP, Insurance Agent, Self Employed, Professionals (Doctors / Engineers / Architects etc): Satisfactory account relationship with other bank for at least 6 months.
  • Loan amount above Rs.2.00 lakhs for Employees of Pvt Ltd Co / Public Ltd Co / Trust / LLP, Insurance Agent, Self Employed, Professionals (Doctors / Engineers / Architects etc): Satisfactory account relationship with our Bank for at least 6 months.
  • For Govt Employees: Salary accounts with BOB or other Bank*

 

Baroda Personal Loan : Interest rates & charges

Product Conditions Repo Rate + Spread Effective Rate of Interest
Baroda Personal Loan
Conditions
Category A :(Employee of Private / Public, Trust, LLP, Insurance Agent, Self Employed Professional and business persons) having account relationship with other Bank
Repo Rate + Spread
Linked with CIBIL Score of the individual Ranges from BRLLR+SP+5.25% to BRLLR+SP+8.85%
Effective Rate of Interest
From 12.40% to 16.00%
Conditions
Category B : (Employee of Private / Public, Trust, LLP, Insurance Agent, Self Employed Professional and business persons) having account relationship with our Bank
Repo Rate + Spread
Linked with CIBIL Score of the individual Ranges from BRLLR+SP+3.25% to BRLLR+SP+6.85%
Effective Rate of Interest
From 10.40% to 14.00%
Conditions
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
Repo Rate + Spread
Linked with CIBIL Score of the individual Ranges from BRLLR+SP+2.50% to BRLLR+SP+6.85%
Effective Rate of Interest
From 9.65% to 14.00%
Conditions
Gold: Same target customers as mentioned in Silver Category, however, salary account must be with our Bank.
Repo Rate + Spread
Linked with CIBIL Score of the individual BRLLR+SP+2.00% BRLLR+SP+6.85%
Effective Rate of Interest
From 9.15% to 14.00%
Conditions
Govt Employees / defence personnel maintaining salary account with our Bank under scheme code SB 182 & 186
Repo Rate + Spread
Linked with CIBIL Score of the individual BRLLR+SP+1.50% BRLLR+SP+2.00%
Effective Rate of Interest
From 8.65% to 9.15%

Baroda Personal Loan : Documents Required

Completely filled loan application along with 3 passport sized photographs along with Form 135 giving details of Assets and Liabilities of the applicant.

Bank statement for the last six months and updated passbook.

  • Proof of residence includes any of the following:
    1. Valid passport
    2. Voter id card
    3. Driving license
    4. Postpaid utility bill (gas bill and electricity bill)
    5. Updated passbook or bank account statement
    6. Registered rent agreement
  • Proof of identity:
  1. PAN card
  2. Aadhar Card
  3. Valid Indian passport
  4. Voters ID card
  5. Driving license
  6. Employee ID card issued by relevant authorities like the Govt or Defence or reputed corporate
  7. Identity document or certificate of practice with photograph issued by professional bodies like ICAI, ICWA, ICFAI
  • For salaried individuals
  1. Last 3 months' salary slips
  2. Statement of account for last -6- months of our Bank/other bank
  • If the applicant is a self-employed individual
  1. Balance sheet and profit and loss account, computation of income for last 1 years
  2. Income Tax Returns – last 1 years for Applicants, 26 AS, Traces
  3. Business proof: Gomasta License, Registration Certificate, Service Tax Registration, among others
  4. IT Assessment/Clearance Certificate, Income Tax Challans/TDS Certificate (Form 16A)/Form 26 AS for income declared in ITR

Baroda Personal Loan : Most Important Terms and Conditions (MITC)

Refer to Eligibility tab for more details

Banking Mantra

  • 22 Feb 2022
    Bank of Baroda Personal Loans - Instant Zaroorat Aapki, Jhatpat Saath Hamara
    epaTB1k8eNg

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