Bank of Baroda Personal Loan

Do you have great plans, but cannot fulfill them because of lack of money? Don’t worry, Bank of Baroda is here to fulfill various needs of people through its personal loan facility. Now an insufficient budget will no longer be an obstacle to achieving your dreams. You can spend with peace of mind on your daughter’s wedding or book a holiday trip for your family with the help of a personal loan from this bank. Bank of Baroda offers personal loans ranging from INR 20,000 to INR 2,00,000. The loan amount must be paid off within 36 months.

Bank of Baroda Personal Loans Interest Rates January 2023

Special Details
Interest Rate 10.00% – 15.60%
Maximum vehicles INR 2,00,000 (subject to condition)
For Civil Pensioners: Maximum amount is INR 1,00,000
For Defense Pensioners: Maximum amount is INR 2,00,000
For Cash Deposit: Maximum amount is INR 5,00,000
Minimum vehicles INR 20000
Reconsideration Equal payments up to 36 months
Processus Fee 2% loan amount
Minimum: INR 1,000
Maximum: INR 10,000

Eligibility Criteria

These candidates come in to apply for a loan;

Permanent confirmed employees (minimum 1 year service) of * I used to use it Insurance agents
Central/Republic Government//Autonomous Bodies/Public/Community Enterprises. Doctors, Architects, Interior Designers, Engineers, Chartered Accountants, Technical Consultants & Management Company Secretaries only practice with a stable business (minimum 1-year). An insurance agent has been doing business for the last -5- years
They are considered as limited companies / MNCs & Institutional Organizations The agent has regular and stable income and is maintaining SB a/c with banker’s commission credit checks received from his principals.

Bank of Baroda personal homework Touch Account

Tensed what EMI amount (Equated Monthly Installment) you need to pay and how to calculate the same? It is easy to know how much amount you have to pay to the lender every month. Just enter the total principal amount, interest and loan tenure in the EMI calculator and it will tell you the EMI amount.

For example, If someone takes a loan of Rs 2,00,000 for a period of 3 years at 11.60% rate, then what would be his EMIs, interest and total amount payable. Well, have the same in the table below.

Table Showing Touches, Outgo Interest, and Total Quantity

HOMEWORK INTEREST RATE TENURE MONTHLY INSTALLMENT TOTAL INTEREST VEHICLES SUMMA
2,00,000 11.60% 1 17,732 12,788 2,12,788
2,00,000 11.60% 2 9377 25,057 2,25,057
2,00,000 11.60% 3 6605 37,770 2,37,770

Touch, Total Interest Outgo, Total Repayment (Interest + Principal)

DOSE PRINCIPAL INTEREST
BALANCE AMOUNT
1 59,135 20,122 1,40,864
2 66,371 12,885 74,493
3 74,556 4763

 

Documenta required

Nam Salaried In fact, it is to be used on its own
A stipulated loan application A stipulated loan application
Home size images 2 Home size images 2
Example of passport / voter ID card / driving license Example of passport / voter ID card / driving license
Check processing fee Check processing fee
Last 3 months bank passbook / 6 months bank passbook Last 3 months bank passbook / 6 months bank passbook
Slow salary slip It is called the Late Bank
Current salary data certificate with latest form 16 Late ITR or Form 16
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Bank of Baroda personal homework Application Form

Fill out the application form to help the borrower.
After the fields are to be filled

  • Personal details
  • Professio details
  • Details of assets / liabilities
  • Propositus loan details
  • return details
  • Outstanding loan details
  • Details of the guarantor

Factors Affecting Personal Homework Eligibility

Keep an eye on the factors that affect your Personal loan eligibility. Having an understanding of the same can result in more loan eligibility and fast approval. Let’s check out such factors below.

  • Monthly Income – Your income should be INR 20000 or above to borrow money from Bank of Baroda. Plus, your monthly income dictates a lot of the loan amount you will get from the borrower.
  • Age – Age should be between 21 to 65 years to get a loan from Bank of Baroda.
  • Monthly Expenses – Credit card purchases and other expenses incurred by you each month should be taken into account to calculate the loan term.
  • If you have any other loan – If you have an existing loan, it may affect your new personal loan from Bank of Baroda. A timely payment of your permanent loan can quickly approve the loan from the bank.
  • Credit History – Previous credits or credit card payments become part of your credit history and act as proof of your creditworthiness. A timely payment report will give you a good credit history and will give you a quick loan approval.
  • Job Stability – You must work for at least 1-year in the current organization to get a Bank of Baroda personal loan. And if you’re self-employed, at least a year on the market for your business.
  • Relationship with the Bank – Customers who have an existing relationship with the bank do not have to go through a long procedure. As they can simply check for pre-approved offers online.
  • Your Employer Category – If you work in Central, State Govt., Autonomous Bodies, Public and Industrial Sector Undertakings, Public Limited Company, MNCs & Educational Institutions, the loan can be approved quickly.

Bank of Baroda Homework Application Form

Applying for a personal loan from Bank of Baroda is an easy and quick process. All you need is a form of card that allows you to enjoy free travel. The applicant is instructed to fill out an application to apply for a loan. The form can either be submitted online from the bank’s website or simply go to a bank branch to get the form. The applicant needs to fill his personal as well as professional details such as Name, Age, Gender, Marital Status, Income, Employment Type, etc. Make sure that false information as correct details will not help you here.

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Features and Benefits

  • Simple procedure – The loan process is completed in a few easy steps, you can approach the bank branch, fill the interest form and submit with KYC and income proof. After that, you just have to wait for his approval.
  • No Prepayment Fee – You can prepare the loan as often as you want without worrying about the prepayment fee. The Bank of Baroda does not make any charge in preparing the loan before the expiration of the original tenure.
  • Loans available for all personal needs – User can use the fund for any financial requirement from wedding to medical emergencies.
  • Repayment in Monthly Installments – Repayment of the loan and interest is done in equal monthly installments that you can calculate by yourself.

Bank of Baroda personal homework FAQs

 

1. How to get a personal loan from Bank of Baroda?

You can apply for a personal loan from Bank of Baroda by logging into the net banking portal or by downloading the application from the bank.

 

2. How much time does Bank of Baroda take to approve a personal loan?

Banks usually take a week to 15 days to make a decision on a personal loan application. However, some banks may approve your application within 2-3 days. It depends purely on the bank and policy.

 

3. How long does it take to get a personal loan from Bank of Baroda?

If your application is complete without any errors, you can get the loan anywhere between 2 to 15 days. If you are an existing bank customer, you can get a pre-approved loan within a short time or hours.

 

4. What is the minimum personal loan amount in Bank of Baroda?

You can avail a minimum loan of Rs 1,00,000 to a maximum of Rs 15,00,000.

 

5. Can I have 2 personal details from Bank of Baroda?

Yes, you can take advantage of two loans if your bank allows it. It depends on your credit score, monthly income, stability of your job, rank of affiliates, and other relevant factors.

 

6. What documents are required to apply for a Bank of Baroda personal loan?

 

7. Are you eligible for Bank of Baroda personal loan here?

Individual salaried, self-employed people and insurance agents who have worked for about 2 years are eligible for Bank of Baroda personal loans.

 

8. How do I check my personal loan status in Bank of Baroda?

You can check the status of your personal loan application by contacting the bank’s toll free numbers – 1800 22 33 44/1800 258 44 55/1800 102 44 55. You can also go directly to the branch where you have applied for a personal loan. talk to the officer about the status of your application. –

 

9. Who can be your partner in Bank of Baroda personal loan application?

Usually the co-workers are the parents, spouse, siblings to earn or children to earn in the personal loan application.

 

10. What is the minimum CIBIL score required for a Bank of Baroda personal loan in India?

The minimum CIBIL score required for a Bank of Baroda personal loan in India is 750.

 

11. How to close Bank of Baroda personal loan?

You can visit the branch directly and submit the final payments by check, request a draft or cash to close your personal loan. You just need to complete the forced closing of the personal loan and make the necessary payments.

 

12. How to open Bank of Baroda personal loan?

To foreclose a personal loan, you need to visit the branch, fill out the collateral form, submit the required documents, pay the required amount and, if necessary, write the mandatory documents.

 

13. How to pay Bank of Baroda bank personal loan?

You can pay your personal loan EMIs through cheque, cash, demand draft, auto-debit or UPI.

 

14. How to check personal loan balance in Bank of Baroda?

You can check your loan balance by visiting a bank official, opening your personal loan account, and clicking on ‘view statement’. This option will let you know your loan balance and other details.

 

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