Home Loan Eligibility Calculator
Personal Loan EMI Calculator
  • Loan Amount:

    10000
    1500000
    500000
  • Rate of Interest(%):

    5%
    18%
    10.40
  • Loan Terms:

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

  • Benefits
  • Features
  • Eligibility
  • Interest rates & charges
  • Documentation
  • 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.
  • The personal loan amount varies by location. In metro and urban areas, the loan amounts can range from Rs. 1 lakh to Rs. 15 lakhs. In semi-urban and rural areas, the personal loan amount varies from Rs. 50,000 up to Rs. 15 lakhs.
  • The processing charges for personal loans are calculated as 2% + GST of the loan amount, with a minimum of Rs. 1000 + GST up to 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 proprietorship, partnership firms, private limited companies, trust - 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

Limit is stipulated based on the classification of the financing branch.

Maximum

  • Metro and urban: Rs. 15 lakhs
  • Semi-urban and rural: Rs. 15 lakhs

Minimum

  • Metro and urban: Rs. 1 lakh
  • Semi-urban and rural: Rs. 50,000

Penal interest

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


Processing Charges

2% of loan amount - Minimum: Rs. 1000,  Maximum: Rs. 10,000 + Service Tax


Specific Guidelines for Loan Eligibility
Parameter Employees of Central/State Government, autonomous bodies, public/joint sector undertakings & educational institutions with minimum continuous service for 1 year and having salary account with our Bank For Others
Repayment Capacity (FOIR) 60% of GMI GMI less than Rs. 75,000: 40% of GMI GMI Rs. 75,000 and above but less than Rs. 2,00,000: 50% of GMI GMI Rs. 2,00,000 and above: 60% of GMI
Repayment Period Maximum 60 months Maximum 48 months
Account Relationship Salary account should be with our Bank. Last month salary has been credited in the account. Loan amount up to Rs. 2 lakhs: Satisfactory account relationship with our Bank or any other bank for at least 6 months.

Loan amount above Rs. 2 lakhs:

  • Satisfactory account relationship with our Bank for at least 6 months.
  • In case of employees of proprietorship, partnership firms, private limited companies, trust salary account of the employee should be maintained with our Bank for the last 6 months.
  • In case of insurance agents, the commission for the minimum last 6 months to be credited to the account with us.
 

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%

Unified Processing Charges
  • 2% of Loan amount + GST
  • Minimum: Rs.1000 + GST
  • Maximum: Rs.10,000 + GST

Baroda Personal Loan Documentation

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

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