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    We found 1 Bank of Baroda (BOB) Personal Loan Eligibility Calculator

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.35% - 16.35% Floating
    1,000 to ₹10,000 One time fee
    1L - 10L
    4 Years
    Response Time Within 30 minutes
    What you'll love
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    Fees & Charges
    Eligibility Criteria

    Bank of Baroda (BOB) Personal Loan Eligibility Calculator is Rated as "Great!" by 12 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    About Bank of Baroda Personal Loan

    Bank of Baroda offers two types of personal loans to customers, each designed to meet any financial obligation an individual could have. These loans can be availed for any purpose and are available at extremely competitive interest rates, ensuring monetary needs don’t hamper the quality of life of a customer.

    Bank of Baroda Personal Loan Eligibility

    Applicants can choose from two types of personal loans offered by Bank of Baroda, the Baroda Personal Loan and the Baroda Premium Personal Loan.The eligibility criteria for both these Bank of Baroda Personal loans are mentioned below.

    Baroda Personal Loan

    For Salaried Individuals

    • Permanent employee – The applicant should be a permanent employee of either any Government undertaking or a reputed company.
    • Work Experience – The applicant should have a minimum work experience of 1 year.

    For Self Employed Professionals

    • Work experience- The applicant should have a minimum work experience of 1 year.
    • Stable profession – The applicant should have a stable profession with a regular source of income.

    For Insurance Agents

    • Work experience – The applicant should have worked as an insurance agent for at least 5 years.
    • Regular income – The agent should have a regular source of income.
    • Bank account – The agent should have a SB account with the bank.

    Baroda Premium Personal Loan

    For Salaried Individuals

    • Permanent employee – The applicant should be a permanent employee of any government undertaking, school, college or a reputed MNC.
    • Work experience – The applicant should have a minimum work experience of 1 year.
    • No overdraft account – Employees with an overdraft account or salary linked loan with any bank are not eligible for this Personal Loan.
    • Minimum age – Applicants should be at least 21 years old.
    • Maximum age – The age of the applicant should be such that the entire loan amount is cleared before he/she reaches the retirement age.
    • Minimum monthly income – Applicants should have a minimum net monthly income of Rs. 10,000 for check off loan and Rs. 15,000 for partial check off loan.
    • Relationship with bank – Applicants should have a good relationship with the bank for at least 6 months.

    For Self Employed Individuals

    • Self-employed individuals and employees of private or partnership firms are not eligible for this loan.

    Factors affecting Bank of Baroda Personal Loan Eligibility

    There are multiple factors which can affect the eligibility of an applicant when it comes to obtaining a Bank of Baroda personal loan, some of which are mentioned below.

    • Age – The age of an applicant plays a major role in personal loan applications, with banks preferring individuals in the “middle age” bracket. Youngsters are viewed as a risk, owing to their care free attitude. Being on the wrong side of the age scale can also hamper eligibility as people close to their retirement age might be considered risky prospects when it comes to repaying loans.
    • Income – The income of an applicant determines his/her repayment capacity, with low income individuals finding it harder to obtain high loan amounts. The income often dictates how much loan an individual can avail.
    • Type of employment– Permanent employees are considered more eligible for personal loans compared to temporary or probationary employees. This is because there is no guaranteed job security for temporary employees, which may question their repayment capacity.
    • Type of company– New companies emerge and shut down on a daily basis, which make banks cautious about the employer details of a loan applicant. Employees from stable companies and government organizations are likely to get their loan approved quicker than employees from start-ups or unknown organizations.

    How CIBIL score affects your Bank of Baroda Personal Loan Eligibility

    Banks rely on the CIBIL score of an individual to gauge his/her financial history, with the score often determining whether an applicant gets the loan approved or rejected. A CIBIL score is considered as a financial reflection of the individual, often being the sole criteria banks depend on. A good CIBIL score indicates a stable financial past, improving the chances of an applicant getting a loan approved by Bank of Baroda. Scores hovering around the average marks might be considered by the bank but might not necessarily be approved.

    A low CIBIL score casts doubts on the applicant’s financial credibility and Bank of Baroda is unlikely to even consider their loan application, as such individuals are considered risky. A good CIBIL score instils confidence in the applicant, giving him/her preference over others. It also allows an applicant to request for higher amounts and negotiate the repayment term and interest rate.

    How to increase Bank of Baroda Personal Loan Eligibility

    Implementing these few simple steps can help increase your eligibility for a Bank of Baroda personal loan.

    • Timely payment – Paying all EMIs and credit card bills on time will help improve your CIBIL score, helping you improve your eligibility.
    • Choosing longer tenure – A longer tenure means lower monthly EMIs, which could fall within the income requirements expected by the bank.
    • Prepayment – Prepaying existing loans is likely to highlight the commitment of an applicant towards clearing a loan, improving his/her eligibility to obtain a personal loan.
    • Limiting the applications – A large number of loan applications reflects poorly on the applicant, making him/her look desperate for loans. Keeping the applications to a minimum could help maintain the credibility.
    • Limiting the loan amount – Asking for loan amounts higher than needed might trigger alarm bells in the bank. It is wiser to request for amounts which are necessary, as higher loan amounts might be rejected by the bank.

    FAQs on Bank of Baroda Personal Loan Eligibility

    Q. What is the maximum loan amount one can avail through Bank of Baroda?

    A. The maximum loan amount available under the Baroda Personal Loan plan is Rs. 2 lakh.

    Applicants can avail a maximum of Rs. 10 lakh under the Premium Personal Loan plan.

    Q. Does Bank of Baroda offer personal loans to defence personnel?

    A. Yes, Bank of Baroda offers personal loans to defence personnel as well.

    Q. What are check-off personal loans?

    A. Check-off refers to the process wherein loan instalments are deducted from the salary of a borrower and remitted to the bank. Loans availed under this scheme are called check-off loans.

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  • Personal Loan Reviews

    • Bank of Baroda Personal Loan
      "BOB considers only Government employees for personal loan"
      0.5 1.0/5 "Really Bad"
      Though I am a long term customer of Bank of Baroda, they were not willing to give me a personal loan. I am having savings account for quite long time and I do much transactions with them. In spite of having savings account with SBI, I prefer BOB for all my transactions. But BoB considers only the government employee for personal loan, which is really a disappointment.
      Was this review helpful? 4
      , bhopal
      Reviewed on Mar 10, 2017
    • Bank of Baroda Personal Loan
      "Excellent !!!!!"
      0.5 5.0/5 "Blown Away!"
      Within one day my personal loan was disbursed by bank of baroda as i have account with them i just visited the branch once and on the same day the approval was given. Interest rate charged 13.5 %. Partial payment and pre payment van be done without any charges. BOB has the fast process.
      Was this review helpful? 7
      , jaipur
      Reviewed on Dec 09, 2015
    • Bank of Baroda Personal Loan
      "Satisfied!"
      0.5 3.0/5 "Satisfactory"
      I got my personal loan amount disbursed within 10 days of application. Since I am holding a savings account with Bank Of Baroda, they collected only minimal documents for the application. The interest rate and processing fees is normal when compared to other banks.
      Was this review helpful? 7
      , hyderabad
      Reviewed on Aug 29, 2015
    • Bank of Baroda Personal Loan
      "Excellent service"
      0.5 4.5/5 "Excellent!"
      I hold saving account in Bank of Broda, basis on my existing relationship I applied for personal loan. I was offered loan at 11.5% interest rate. The executive came to my house within 2 hours to collect my documents. My loan was processed in 10 days.Excellent service provided from the bank.
      Was this review helpful? 4
      , vadodara
      Reviewed on Aug 10, 2015
    • Bank of Baroda Personal Loan
      "BANK OF BARODAPersonal Loan"
      0.5 4.5/5 "Excellent!"
      I am being with BOB for a quiet long time it is very friendly. They maintain good communication. Interest rate is quiet low while comparing to other banks. Even though the interest rate is high they did not keep up their words on interest so bit dissatisfied on it. Base Rate + 4.50%
      Was this review helpful? 6
      , surat
      Reviewed on May 15, 2015
    • Bank of Baroda Personal Loan
      "Bank of baroda personal loan"
      0.5 3.0/5 "Satisfactory"
      I am being with BOB for a quiet long time it is very friendly. They maintain good communication. Interest rate is quiet low while comparing to other banks. Even though the interest rate is high they did not keep up their words on interest so bit dissatisfied on it. Base Rate + 4.50%
      Was this review helpful? 5
      , secunderabad
      Reviewed on Feb 03, 2015
    • Bank of Baroda Personal Loan
      "awesome facility"
      0.5 5.0/5 "Blown Away!"
      BOB The loan amount ranges from 20,000 to 2 lacs. While the lower limit is good enough to cover people requiring small ticket personal loan, the upper limit is too low to attract people who seek higher amounts.The processing fees are 2% of the loan amount which is as per market standards. There are no prepayment charges which are a big plus for borrowers looking to pay off the loan ahead of schedule.is a public sector bank. The bank was established in 1908 and was nationalized in 1969.
      Was this review helpful? 7
      , mumbai
      Reviewed on Jan 07, 2015
    • Bank of Baroda Personal Loan
      "Best Service of Personal Loan by Bank of Baroda "
      0.5 3.5/5 "Pretty good"
      BOB The loan amount ranges from 20,000 to 2 lacs. While the lower limit is good enough to cover people requiring small ticket personal loan, the upper limit is too low to attract people who seek higher amounts.The processing fees are 2% of the loan amount which is as per market standards. There are no prepayment charges which are a big plus for borrowers looking to pay off the loan ahead of schedule.is a public sector bank. The bank was established in 1908 and was nationalized in 1969. It is one of the few nationalized banks to pursue an aggressive marketing strategy.Overall service was good.I don't have any account but even though I got a good response from them.
      Was this review helpful? 11
      , mumbai
      Reviewed on Oct 29, 2014
    • Bank of Baroda Personal Loan
      "Banking relationship with this bank is good"
      0.5 4.5/5 "Excellent!"
      It is a nationalized bank, whatever they are providing its per the government norms. If I am in need of money in urgent basis, they help me and give it immediately. Interest rate is 9.25% and I would do the deposit in branch. I have a good personal relation with this bank, even the customer service gives me personally.
      Was this review helpful? 5
      , mumbai
      Reviewed on Sep 16, 2014
    • Bank of Baroda Personal Loan
      "Consideration of EMI date would be helpful"
      0.5 3.0/5 "Satisfactory"
      I had taken the loan before 5 years and at that point of time, there were no processing fees. Interest rate is as per the market. Its quite good and no issues at all. Regarding interest rate, the charges , i feel happy. Customer service way of approach is not bad as once my queries were resolved in bit long time. Initially, i requested to deduct the installment of 10th and later was changed as per their bank system. Its better if they can provide the installment date as per the convenient of customers. Even ECS payment options is not available.
      Was this review helpful? 7
      , udaipur
      Reviewed on Jul 23, 2014
    • Bank of Baroda Personal Loan
      "Overall services are fine and good"
      0.5 5.0/5 "Blown Away!"
      The Bank of Baroda bank services are quite OK as it is nationalized bank. Net banking is too good and faster. Branch services are quite OK and executives are doing a good job. I can find number of ATM's and their overall services are fine and good.
      Was this review helpful? 7
      , chennai
      Reviewed on Jul 14, 2014
    • Bank of Baroda Personal Loan
      "Lead banker of my company"
      0.5 3.0/5 "Satisfactory"
      Four months ago I received a personal loan from Bank of Baroda. Everything such as documentation and the loan process are the same however the guarantor details are mandatory to get a loan. Rate of interest is variable but quite affordable. Bank of Baroda is one of lead banker of my company and I am holding a salary account for a while.
      Was this review helpful? 13
      , vadodara
      Reviewed on May 17, 2014
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