BOB Personal Loan online: In today’s time, many people suddenly need money for some reason or the other. In such a situation, if you do not have enough money, then you can take a loan from the bank. Bank of Baroda is a reliable government bank that provides personal loan facility to its customers.
Bank of Baroda Personal Loan Scheme
Under the Personal Loan Scheme of Bank of Baroda, you can take a loan of maximum Rs 10 lakh. This loan is available easily and in less time. You can determine the loan amount according to your requirement.
Personal Loan Interest Rates
Bank of Baroda’s Personal Loan Scheme charges an annual interest rate of 10%. Apart from this, you will also have to pay 2% processing fee for the loan. The loan tenure is 5 years, but if you want, you can repay the entire loan even before that. The bank does not charge any additional fee on this.
Eligibility Criteria for Personal Loan
To avail a personal loan from Bank of Baroda, you must be between 21 and 60 years of age. Also, you must have a regular source of income. If you are a Bank of Baroda customer, your account must be at least one year old.
Required Documents
To avail a personal loan from Bank of Baroda, you will need some documents. These include – your bank account details, salary slip or proof of income, Aadhaar card, PAN card, bank statement of the last 3 months and voter ID card.
Applying for a Loan
You can apply for a personal loan from Bank of Baroda online or offline. To apply offline, you need to visit the nearest bank branch and fill Form No. 16 and submit the required documents.
To apply online, you need to visit the bank’s website and apply for a personal loan. There you have to upload your information and documents. Later, the bank agents will contact you and check your eligibility. Upon eligibility, the loan amount will be transferred to your bank account.
Bank of Baroda’s Personal Loan Scheme is an easy and convenient way to meet your sudden financial needs. You can avail this scheme and meet your requirements.
