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Processing Fee
nil*
Max Tenure
nil*
Best Rate
11.60%
| Interest rates | 11.15% p.a. to 18.75% p.a. |
| Tenure | Up to 7 years |
| Loan Amount | Up to 20 lakhs Minimum – Rs. 1.00 lakhs for individuals belonging to metro and urban branches Maximum – Rs. 0.50 lakhs for rural and semi urban branch. |
| Processing charges | Ranges from 1.00% of the loan amount - 2.00% including GST. The minimum processing charge is Rs.1000 plus GST and the maximum processing charge is Rs. 10,000 plus GST. |
Bank of Baroda offers varying interest rates across its different personal loan schemes. Below is a list of interest rates based on specific loan schemes.
| Feature | Details |
| Attractive Interest Rate | Starting from 10.85%* |
| Special Rate for Women | Starting from 10.60%* |
| Processing Charges | Nil* |
| Interest Rate Options | Fixed & Floating Rate available |
| Approval Process | Digital approval for faster processing |
| Repayment Tenure | Flexible repayment period up to 84 months |
| Baroda Personal Loan | Effective Floating Interest Rate | Effective Fixed Interest Rate |
| Government employees/defense personnel with salary accounts under codes SB 182 & 186 | 11.40% to 11.90% | 11.15% to 11.65% |
| Gold: Central/State Govt. employees, PSUs, autonomous bodies, A-rated companies, and reputed educational institutions with Bank of Baroda salary account | 11.90% to 16.75% | 11.40% to 14.25% |
| Category C: SilverSame as Gold, but with salary accounts in other banks | 12.40% to 16.75% | 11.90% to 14.25% |
| Category B: Employees of private/public sectors, trusts, LLPs, insurance agents, self-employed, and business persons with a Bank of Baroda account | 13.15% to 16.75% | 12.95% to 15.20% |
| Category A: Private/public sector employees, trusts, LLPs, insurance | 15.15% to 18.75% | 14.90% to 18.20% |
| agents, self-employed, and business persons with accounts at other banks |
Fixed Rate of Interest
| Product | Conditions | Effective Rate of Interest |
| Baroda Digital Personal Loan | Based on CIBIL Score and internal score | From 13.00% to 18.35% |
Floating Rate of Interest
| Product | Conditions | Effective Rate of Interest |
| Baroda Digital Personal Loan | Based on CIBIL Score and internal score | From 12.90% to 18.25% |
Fixed Rate of Interest
| Product | Conditions | Effective Rate of Interest |
| Baroda Digital Pre-Approved Personal Loan | Based on CIBIL Score and internal score | From 13.00% to 16.50% |
Floating Rate of Interest
| Product | Conditions | Effective Rate of Interest |
| Baroda Digital Pre-Approved Personal Loan | Based on CIBIL Score and internal score | From 12.90% to 16.40% |
| Product | Conditions | Effective Rate of Interest |
| Baroda Loan to Pensioners (Digital) | Digital application Non-digital application For Retired Bank of Baroda/Family Pensioners | 12.15% 12.65% 10.00% |
Occupation:
Any of the ensuing residence proofs specified below can be submitted
Proof of residence:
Proof of identity:
1. The salary slips for the recent 3 months
2. The account statements for the last 6 months are required to be submitted
Documents required for self-employed individuals
Bank of Baroda offers personal loans to pensioners to provide the much-needed financial assistance during emergencies or financial crunch.
The loan amount available to pensioners varies based on their age and pension type.
| Parameter | Repo rate + Spread | Effective rate of interest |
| Digital | BRLLR + SP + 2.75% | 12.15% |
| Non digital | BRLLR + SP + 3.25% | 12.65% |
| Bank of Baroda employees who are retired and their family pensioners | BRLLR + SP + 0.60% | 10.00% |
This personal loan has affordable interest rates, swift disbursal, and flexible repayment terms.
Age Requirements:
| Parameter | Applicable rate of interest | Effective rate of interest |
| Fixed interest rate based on CIBILTM Score and internal score | Minimum: 1 year MCLR + SP + 3.80 Maximum: 1 year MCLR + SP + 9.15 | From 12.95% to 18.30% |
| Floating interest rate based on CIBILTM and internal score | Minimum: BRLLR+SP+3.50 Maximum: BRLLR + SP + 8.85 | From 12.90% to 18.25% |
These digital pre-approved personal loans come with a hassle-free process and paperless process. documentation. You can apply for an online pre-approved personal loan in an easy and simple manner digitally by filling out an application. You can also go to one of the nearest branches of Bank of Baroda and apply for the loan.
Pre-approved loan can be used for any purpose except speculation.
For verifying the pre-approved loan offer, type PAPL <Space> followed by last 4 digits of your debit card. Then, send an SMS to 8422009988 from your registered mobile number.
| Parameter | Applicable rate of interest | Effective rate of interest |
| Fixed rate of interest based on CIBILTM score and internal score | Minimum: 1 year MCLR + SP + 3.80 Maximum: 1 year MCLR + SP + 7.30 | From 12.95% to 16.45% |
| Floating rate of interest based on CIBILTM score and internal score | Minimum: BRLLR + SP + 3.50 Maximum: BRLLR + SP + 7.00 | From 12.90% to 16.40% |
Processing charge @2% of loan amount + Applicable GST
Bank of Baroda personal loan applicants can enquire about their personal loan application and other related queries by contacting the below mentioned customer care numbers.
Personal Banking Toll-Free Numbers:
Personal Banking Email ID:
Email Id: cs.ho@bankofbaroda.com
1. What is the rate of interest on a personal loan in Bank of Baroda?
The interest rate on a personal loan from Bank of Baroda ranges from 11.15% to 18.75% per annum, depending on the applicant's profile and loan terms.
2. What are the foreclosure charges imposed on Bank of Baroda personal loans?
Bank of Baroda does not levy any foreclosure charges on floating rate personal loans. However, for fixed rate personal loans, the lender will charge 3% on the prepaid amount during the first 3 years of the loan tenure.
3. Who is eligible for a personal loan in Bank of Baroda?
To be eligible for a personal loan from Bank of Baroda, applicants must be between 21 and 60 years of age for salaried employees, and up to 65 years for self-employed individuals. A steady income is required, with a minimum net monthly income of Rs. 20,000 for salaried individuals, while self-employed applicants should have a profitable business. A good credit score (usually 701 or higher) is preferred. Salaried employees need at least 1 year of work experience with their current employer, and self-employed individuals must have been in business for at least 3 years. Meeting these criteria ensures eligibility for a personal loan from Bank of Baroda.
4. Can pre-approved offers be rejected?
Yes, preapproved offers can be rejected if the customer does not fulfill the criteria set by the bank.
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