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.

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