Personal Loans with Bank of Baroda , Apply In Good Rates

Bank of Baroda offers the personal loan to the following entities:

Permanent confirmed employees of Central/State Government, employees of

Reputed Limited companies, MNC, Public sector undertaking companies, Educational Institutes

They should have had minimum 1 year experience

Self employed Professional:

• Doctors, Architects, Interior designers, Engineers, Chartered accountants, Technical and Management Consultants, practicing company secretaries with the stable income
• They should have had minimum 1 year work experience
• Insurance Agents Subject to:
• The agent is doing insurance for last five years
• The agent has stable income and maintaining SB A/C with us for crediting commission cheques received from the their principal amount

Age Limit:

• Minimum age limit: 21 years old
• The loan applicant age should not cross the retirement age.

CATEGORY- A (with Check Off)

CATEGORY- B (without/partial Check Off)

Loan Amount:

• Minimum Amount: Rs. 50,000
• Maximum Loan Amount: Rs. 200 000 (Subject to conditions)
• For civil Pensioners: Maximum of Rs. 1 Lakh
• For Defense Pensioners: Maximum of Rs 2 lakhs

Minimum Monthly net Take Home

• For Category A: Minimum monthly net take home should be Rs.10, 000
• For Category B: Minim monthly net take home should be above Rs.15, 000

Loan Limit:

• For Category A: Rs. 10 lacs or 24 times monthly net income whichever is lower
• For Category B: Rs 5.0 Lacs or 24 times of monthly net take home whichever

Repayment Capacity:

• Total deductions that are total EMI should not cross the 60% of the monthly gross Income. Deductions include income tax, PF, Professional tax, EMI of existing borrowing and any other liabilities if any.

Repayment Option:

• Up to 36 months in equated monthly installments
• No Prepayment charges
• Penalty of 2% overdue amount

Personal loan Details:

• Personal loan Interest rate: 14.15%
• Processing fee: Rs 500 to 2 %
• Loan tenures: 3 years

Documents required for Personal loan in bank of Baroda

Proof of identity:

• Passport, Voter’s ID, Driving license, PAN card
• Recent passport size photograph

Address Proof:

• Ration card, Electricity bill, Sales tax certificate, trade license and Lease agreement.
• Salary slips for the last three months of the applicant for salaried person
• Bank statement for the last three months
• Latest IT return for 2 Years for salaried Professionals, businessmen, self employed applicant

If you would like to know more about bank of Baroda personal loan, get in touch with us.