In this today’s article we will discuss how you can apply for a Bank of Baroda personal loan, so if you simply want to ease up the financial settings in your life, then it is recommended to go with a personal loan which is most of the time a reasonable loan amount that you can take up.
Bank of Baroda is a well known financial banking service as they provide loan to both salaries and self employed individuals for personal loan that ranges from 50,000 INR to 10,00,000 INR as well. One of the reasons why a lot of customers prefer to go with them is due to their flexible repayment periods of 7 years, minimal paperless process and quick loan disbursement.
Bank of Baroda is well known for its service but you as a customer and loan applicant must understand the loan interest rate and the tenure of the loan as well.
Important reason is this gives you an understanding on how to pay back the Bank of Baroda personal loan interests and EMIs once you are able to plan them.
Read more >>> Bank of Baroda Balance Check Number
Bank Of Baroda Personal Loan EMI Calculator
Bank of Baroda has made a personal emi calculator on their official website that can be accessed from here https://www.bankofbaroda.in/personal-banking/loans/personal-loan/baroda-personal-loan.
This EMI calculator helps you select between loan amount, rate of interest and loan terms to get the monthly EMI to be paid for the tenure of the loan. It is easy to use and once you just input the details you will be able to get the gist of it and get an estimated monthly EMI amount to pay for loan tenure.
Also Read: Bank of Baroda Application Forms in PDF
What is the age limit for applying for a Bank of Baroda personal loan?
Applicants must be at least 21 years old and have a maximum age of 60 at the conclusion of the loan tenor.
Can salaried and self employed individuals apply for Bank of Baroda personal loan?
The loan is open to salaried individuals and self-employed professionals, with NRIs and SHGs being ineligible.
What is the minimum salary required for applying for a Bank of Baroda personal loan?
You need to have a minimum of ₹25,000 in the top 8 metro cities and ₹20,000 in other locations, while self-employed professionals should have a monthly income of ₹30,000.
What is the minimum CIBIL score required for a Bank of Baroda personal loan?
A minimum CIBIL score of 700 is necessary to apply for a Bank of Baroda personal loan.
How to Apply for Personal Loan at Bank Of Baroda
As you now understand both the requirements and EMI, then you can go ahead to follow the below steps to learn how to apply for personal loan at bank of baroda.
- Open the Bank of Baroda personal loan page from here https://www.bankofbaroda.in/personal-banking/loans/personal-loan
- Click on Apply Online button under Bank of Baroda Personal Loan, it will redirect you to next page where you can view the requirements and loan details, click on proceed
- Enter your mobile number, and you will receive an OTP which you need to enter and then click on Submit OTP button
- Select account holder of Bank of Baroda, enter loan value and click on get OTP
- Enter the OTP and then next you need to fill your documents such as PAN and others
- Once done, fill personal information required as asked and then click on complete application
Your application will be sent for review and once done, you will receive a call for verification which is done manually.