Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 1 Bank of Baroda (BOB) Personal Loan Interest Rates
    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
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    Bank of Baroda (BOB) Personal Loan Interest Rates is Rated as "Great!" by 19 Users

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    Bank of Baroda (BOB) Personal Loan Interest Rates

    About Bank of Baroda (BOB) Personal Loan

    Bank of Baroda Bank offers Personal Loan to meet the wedding expenses, to take a vacation, to meet medical expenses or for meeting any other personal requirements. Bank of Baroda lets you take a personal loan to meet any kind of expenses at a short notice. The bank provides personal loan for pensioners and defence pensioners. It is also available for Earnest Money Deposits for those who wish to buy a house or a flat or a plot.

    Bank of Baroda Personal Loan Interest Rates

    Bank of Baroda personal loan interest rates depends the borrower’s on income, borrower’s credit history, the RBI rates, inflation etc. Bank of Baroda personal loan interest rate for the year 2015 varies from 13.15 percent to 14.4 percent. The interest rates is offered to a borrower in such a way that he is not burdened with the EMI payment.

    Bank of Baroda Personal Loan Interest rates 2017

    Particulars Salaried Self-Employed
    Interest rate For BOB customers having account at bank for 6 months:
    Minimum: 1 year MCLR + Strategic Premium + 3.00%
    Maximum: 1 year MCLR + SP + 6.00%. For others:
    Minimum: 1 year MCLR + Strategic Premium + 5.00%
    Maximum: 1 year MCLR + SP + 8.00%.
    *Current 1 year MCLR = 8.35%
    For BOB customers having account at bank for 6 months:
    Minimum: 1 year MCLR + Strategic Premium + 3.00%
    Maximum: 1 year MCLR + SP + 6.00%. For Others:
    Minimum: 1 year MCLR + Strategic Premium + 5.00%
    Maximum: 1 year MCLR + SP + 8.00%.
    For Doctors:
    Up to Rs 2 lakh: 1 year MCLR + Strategic Premium + 3.00%
    Above Rs.2 lakh: 1 year MCLR + Strategic Premium + 2.50%
    *Current 1 year MCLR = 8.35%
    Loan Amount Metro & Urban:
    Minimum: Rs.1 lakh.
    Maximum: Rs.10 lakh.
    Semi-Urban & Rural:
    Minimum: Rs.50,000.
    Maximum: Rs.5 lakh.
    Metro & Urban:
    Minimum: Rs.1 lakh.
    Maximum: Rs.10 lakh.
    Semi-Urban & Rural:
    Minimum: Rs.50,000.
    Maximum: Rs.5 lakh.
    Loan Tenure Maximum: 48 months Maximum: 48 months
    Lowest EMI NA NA
    Processing Fee 2% of the loan amount + applicable GST.
    Minimum: Rs.1,000
    Maximum: Rs.10,000
    2% of the loan amount + applicable GST.
    Minimum: Rs.1,000
    Maximum: Rs.10,000
    Age Minimum: 21 years. Maximum: Age of Borrower + repayment period should not exceed retirement age or 60 years, whichever is lower. Minimum: 21 years.
    Maximum: Age of Borrower + repayment period should not exceed 65 years.
    Prepayment/Foreclosure Charges Within 6 months: 4% on the outstanding loan amount.
    After 6 months: No charge.
    Within 6 months: 4% on the outstanding loan amount.
    After 6 months: No charge.

    How to Calculate Interest or EMI on Bank of Baroda Personal Loan?

    EMI or Equated Monthly Instalment is the amount that the borrower has to pay every month to the bank until the loan amount is fully paid off. The EMI amount consists of interest as well as the principal amount to be repaid. The principal amount and interest is divided by the tenure in which the loan has to be repaid. The formula to calculate the EMI is:

    EMI= Principal X Rate of interest on a monthly basis X (1+rate of interest on a monthly basis) to the power of the loan tenure divided by [(1+rate of interest on a monthly basis) to the power of the loan tenure – 1]

    To make the EMI calculation easy, you can make use of the EMI calculator available on BankBazaar.com. On filling up the required fields on the EMI calculator you will get the result and the amortization table that will contain details of the EMI amount that goes towards the principal amount payment and how much of it covers the interest amount.

    For example, Mr. Suraj has taken a personal loan for Rs.1 lakh from Bank of Baroda. The interest rate he is being offered is 13.15 percent for a tenure of 3 years. By the end of the third year, he would have paid Rs.21,558 towards total interest and his loan EMI is Rs.3,377. He will be paying 17.7 percent towards the interest and 82.3 percent towards the principal loan amount. His amortization table will look as follows:

    YearPrincipal paid (in rupees)Interest paid (in rupees)Balance amount (in rupees)
    Year 129,08111,43970,919
    Year 233,1447,37537,775
    Year 337,7752,7440

    Factors affecting Bank of Baroda Personal Loan interest rates

    Bank of Baroda personal loan interest rate varies for every applicant due to various factors. Some major factors affecting the interest rates are as follows:

    • Loan tenure:

      Shorter term loans may attract a higher rate of interest when compared to loans with a longer tenure.

    • Repayment capacity:

      Bank of Baroda checks a person’s repayment capacity before offering him a loan and before deciding the interest rate. The bank looks into the borrower’s income, his assets and his creditworthiness before finalising on an interest rate. The bank checks the applicant’s CIBIL report as it gives detailed information about his repayment capacity. It also holds all the details of the previous loans he had taken and repaid and it also gives information on how he is paying off his credit card bills.

    • Borrowing class:

      The borrower’s age also plays a crucial role in deciding the interest rate. As the young applicant’s will not be so stable at their job and would be shifting jobs till they find one that works best for them. Bank of Baroda offers personal loan to permanent confirmed employees, self-employed professionals, insurance agents, pensioners, defence pensioners and Earnest Money Deposit.

    • Relationship with the bank:

      Bank of Baroda offers special offers, interest rates and charges to those who have been having a long term relationship with the bank. You may even get a discount on the processing charges or the bank might reduce your interest rate if you have managed to show commitment to making payments on time in the past.

    The interest rates and processing charges are charged at the sole discretion of the bank and are subject to change.

    How CIBIL score affects Bank of Baroda Personal Loan interest rates?

    CIBIL Score plays a major role in deciding an applicant’s interest rate. CIBIL report consists of your repayment history and shows how efficiently you have made the payments and if you have missed making any payments on your loans or credit cards. The banks usually accept application of individuals having an ideal score of 750 and above. Those with a lower score will be termed as risky and the bank might offer you a personal loan at a higher interest rate. Check your credit score before applying for a loan so if the score is low, you can fix it and only then apply for a fresh loan.

    Key things about Bank of Baroda Personal Loan interest rates

    Before applying for Bank of Baroda Personal Loan, you must know the following factors:

    • Fixed interest rate is when a fixed interest rate is set on the personal loan and you will be required to pay a fixed amount of interest throughout the tenure.
    • Floating interest rate will change as per the change in the bank’s base lending rate. The EMI will keep changing with the changing rate.
    • To avail Bank of Baroda Personal Loan, you need not have a guarantor or provide security.
    • When the repo rate goes up, your interest rate will also go up.
    • Bank of Baroda offer personal loans to permanent confirmed employees, self-employed professional, insurance agents, pensioners, defence pensioners and Earnest Money Deposit. They offer the interest rate based on the applicant’s credit score.

    Bank of Baroda (BOB) Personal Loan Interest Rates Reviews

    • Bank of Baroda Personal Loan
      "Efficient Bank"
      0.5 5.0/5 "Blown Away!"
      Bank of Baroda is one of those efficient banks that provided me with a loan long time ago, and their process involved minimal hazzle. The loan got approved within a day, I had option to preclose my loan which I did. The rate of interest is also good in the bank.
      Was this review helpful? 2
      , agra
      Reviewed on Oct 10, 2017
    • Bank of Baroda Personal Loan
      "good service"
      0.5 4.0/5 "Great!"
      Service was good ,customer service was very helpful and responsible ,even during the documentation part was fine ,till now it was a very good service from BANK OF BARODA for my personal loan service . I am happy with their overall service of BANK OF BARODA.
      Was this review helpful? 1
      , chennai
      Reviewed on Oct 04, 2017
    • Bank of Baroda Personal Loan
      "Process is good"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from Bank of Baroda and they gave it to me with a good deal overall. The process was easy to get the loan and the documentation was simple and the process was not lengthy. The after loan services are also smooth without any issues.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 25, 2017
    • Bank of Baroda Personal Loan
      "Be convenient to the customers"
      0.5 3.0/5 "Satisfactory"
      As my salary account is with Bank of Baroda, I got some loan opportunity from BOB through my company but I was informed that the entire personal loan process will be done in three months of time which is too much. so I did not go with BOB. If they took three months to the people who are approaching the bank though their organization then I do not know the exact processing time if people approach the bank directly. It would be good if the loan processing time is short.
      Was this review helpful? 1
      , karur
      Reviewed on Sep 07, 2017
    • Bank of Baroda Personal Loan
      "Fair Service"
      0.5 5.0/5 "Blown Away!"
      I had not taken any personal loan from Bank of Baroda but I had tried once with the bank for the loan. Actually I am a salaried cum business man and I am maintaining my savings account with BOB for more than ten years. But the bank did not approve the loan due to the salary constrains.
      Was this review helpful? 1
      , vadodara
      Reviewed on Aug 30, 2017
    • Bank of Baroda Personal Loan
      "Excellent Service"
      0.5 3.0/5 "Satisfactory"
      Bank of Baroda provides an excellent service for me and they make my loan process easy and fast which was very helpful for me in processing my loan and the rate of intrest was also low compare to others which comes to 13.5% was affortable for me and the executives were also helpful in processing my loan process.
      Was this review helpful? 0
      , kolhapur
      Reviewed on Aug 22, 2017
    • Bank of Baroda Personal Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I have got personal loan from Bank of Baroda within 2 to 3 days of time. The additional charges are nominal with Bank Of Baroda. The rate of interest was average as per the market rate. The customer service was also very helpful in regards to my personal loan process. I am satisfied with the loan amount.
      Was this review helpful? 0
      , rohtak
      Reviewed on Aug 21, 2017
    • 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? 8
      , 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? 14
      , vadodara
      Reviewed on May 17, 2014
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