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Bank of Baroda Personal Loan

Bank of Baroda Personal Loan

 

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Member's Recomendation

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1 review(s)
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  • Maximum Loan Amount
  • Rs. 20 lakh
  • Minimum Loan Amount
  • Rs. 20000
  • Interest Rate(Max)
  • 16 %
  • Interest Rate(Min)
  • 16 %
  • Interest Type
  • Floating
  • Late Payment Fee
  • 2%
  • Processing Fees
  • 2 %
  • Prepayment Charges
  • 0 %
  • Repayment Period (Max)
  • 3 year(s)
  • Repayment Period (Min)
  • 1 year(s)

Features and Benefits of Bank of Baroda Personal Loan

Features:

·         Minimum amount of loan Rs 20000 & Maximum of Rs 200000

·         Loan repayment period is about 36 months.

·         No prepayment charges.

Eligibility:

·         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.

Charges:

·         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:

·         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.

 

Documents Required for Bank of Baroda Personal Loan


Salaried Individuals

  •    Application form with recent photograph
  •    Latest salary slip and Form 16
  •    Bank statement for last 3 months
  •    Proof of Identity (any one): Passport/Driving licence/Photo credit card/Employee licence/Voter's ID/PAN card
  •    Proof of Residence (any one): Driving licence/Any utility bill/Govt. or authority bill

Self Employed

  •    Application form with recent photograph
  •    IT returns for last 2 years
  •    Bank statement for last 6 months
  •    Proof of Identity (any one): Passport/Driving licence/Photo credit card/Employee licence/Voter's ID/PAN card
  •    Proof of Residence (any one): Driving licence/Any utility bill/Govt. or authority bill
  •    P&L and Balance Sheet for last 2 years certified/audited by CA
     

User Reviews

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Bank of Baroda personal loans have a high rate of interest

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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