• Bank of Baroda Premium Personal Loan

    A specialised personal loan by Bank of Baroda aimed at employed individuals for providing financial aid concerning any purpose. This loan features low interest rates and fast approval times.

    Purpose of the loan

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

    Eligibility criteria

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

    1. Permanent confirmed employees of Central or State Government, autonomous bodies, Public or Joint sector undertakings, Reputed Limited Companies or Multinational Companies and Reputed Universities, Colleges, Schools, Educational Institutions or Research Institutes with minimum one year of confirmed service are the admissible applicants as per Bank of Baroda. Non-eligible entities include employees of proprietorship, partnership firms and private limited as well as those who have salary linked loans or overdraft accounts with any bank
    2. The applicant should be at least 21 years of age when the loan is being sanctioned and shouldn’t exceed the retirement age with the repayment period being considered
    3. The applicant should have a satisfactory conduct of account with Bank of Baroda or any other bank for at least 6 months
    4. The minimum net monthly income of applicants is divided as per two categories
      • Category A (Loan with Check Off) – INR 10000
      • Category B (Loan without or with partial Check Off) – INR 15000

    Types of Financing

    The financing mode allowed under the Baroda Premium Personal Loan is a term loan.

    Maximum loan amount

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

    1. Category A – Lower of
      • INR 10 lakhs
      • 24 times Net Monthly Income
    2. Category B – Lower of
      • INR 5 lakhs
      • 24 times Net Monthly Income

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

    The repayment duration can be a maximum of 7 years.


    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. Relevant documents as requested by the bank


    The personal Loan from Bank of Baroda is an unsecured loan that requires no guarantors or collaterals and is a really good financing option for individuals to meet any kind of personal or business needs, either planned or urgent.

    The loan period can be of 84 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 Premium Personal Loan

    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.

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