· Minimum amount of loan Rs 20000 & Maximum of Rs 200000
· Loan repayment period is about 36 months.
· No prepayment charges.
· Salaried employees with a minimum of 1 year experience of Central/State Govt. /Autonomous bodies/Public/Joint sector undertaking or working with a reputed limited companies or MNC.
· Self- employed professional like doctors, architects, engineers, CA etc. with a minimum experience of 1 year.
· Processing Charges:2% of the loan amount with a minimum of Rs 500,Maximum of no limit
· For Pensioners loan & Defense pensioner loan it is Rs 500 as processing charges.
· The bank costs 2% of loan amount, minimum of Rs 500 for Baroda loan for laptop & personal computer.
· Late payment charges: 2% of the overdue amount.
· Interest rates are floating & varies according to the base rate i.e. 6.5% above the base rate .Currently base rate is 10% with effect from 6.05.2011
· Loan to pensioners & defense pensioners is 5.25% above the base rate.
Average user rating
By: sudhir, India | 18 May 2010
Bank of Baroda personal loans have a high rate of interest compared to other banks. I wanted funds for my child\\\\\\\'s wedding and i approached bank of baroda. However with their high charge interes...[Read]
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