Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 1 Bank of Baroda Loan for Pensioners

    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
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria

    Bank of Baroda Loan for Pensioners is Rated as "Great!" by 12 Users

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    Overview about Bank of Baroda Loan to Pensioners

    Bank of Baroda provides a specific loan that is aimed at regular or family pensioners, including retired staff of Bank of Baroda and/or their family pensioners. This loan features low interest rates and fast approval times.

    Usage of Bank of Baroda Loan to Pensioners

    The loan can be utilised for business or personal needs, but can’t be utilised for any speculative purposes.

    Eligibility Criteria for Bank of Baroda Loan to Pensioners

    The eligibility criteria to be met in order for the institution to be able to sanction the loan include the following entities -

    1. Pensioners or family pensioners drawing pension through Bank of Baroda’s branches
    2. Pensioners getting their pension disbursed through Treasury/DPDO (Defence Pension Disbursing Office) directly to the credit of their savings accounts in Bank of Baroda
    3. Pensioners or Family Pensioners of Bank of Baroda
    4. Age limits fall within a minimum of 21 years and a maximum of 75 years

    Types of Financing under Bank of Baroda Loan to Pensioners

    The financing modes allowed under the Pensioner Loan is a term loan.

    Loan limits under Bank of Baroda Loan to Pensioners

    Based on the credit-worthiness of the applicant, Bank of Baroda can provide loans that are 18 times the monthly pension of the applicant subject to the following limits –

    1. Regular Pensioners –
      • Age <= 70 years – INR 8 lakhs
      • Age > 70 years – INR 5 lakhs
    2. Family Pensioners –
      • Age <= 70 years – INR 3 lakhs
      • Age > 70 years – INR 1.5 lakhs

    The total monthly deductions with all EMIs should not exceed 60% of monthly pension.

    The repayment duration can be anywhere from 3 years to 5 years as the maximum time.

    Interest rates for Bank of Baroda Loan to Pensioners

    Interest rates for a Pensioner Loan could range from the Base Rate per annum to Base Rate + 2.00% per annum based on Bank of Baroda’s discretion. The rates are as per November 2015.

    Documentation required during applying for Baroda Pensioner Loan

    The standard list of required documents for applying for this loan are mentioned as follows –

    1. Application form
    2. Passport Size Photographs
    3. Identity proof
    4. Residence proof or Address Proof
    5. Details of Pension or PPO No. or other relevant documents

    Features of Bank of Baroda Loan to Pensioners

    The Pensioner Loan from Bank of Baroda is an unsecured loan that requires no guarantors or collaterals and is a really good financing option for pensioners to meet any kind urgent personal or business need.

    The loan period can be of 60 months and the loan processing time is very less when compared to other business or personal loans. The loan process involves minimal documentation.

    Applying for Bank of Baroda Loan to Pensioners

    Through Bank of Baroda’s website the forms can be downloaded, filled and submitted along with relevant documents at a local branch. Additionally, one could call or mail Bank of Baroda requesting an executive assistance for application process.

    One can also apply for Bank of Baroda Loan to Pensioners through BankBazaar, wherein eligibility charts, EMI calculators and infographics can guide one through the application process.

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  • Bank of Baroda Loan for Pensioners 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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