Bank of Baroda Personal Loan

Bank of Baroda

Bank of Baroda (BOB) is a century old bank that was established dated 20th July, 1908 by the Maratha, Maharaja of Baroda His Highness Sir Savajirao Gaekwad III embarking on the principles and ethics of financial prudence and corporate governance, to meet the financial needs of many lives across the country. The bank was recognized as a nationalized bank dated 19th July 1969, by the Government of India further to which the bank was also designated as the profit-making public sector undertaking (PSU). With its corporate office in the commercial capital, Mumbai and headquarters in Vadodara, Gujrat; the bank holds the position of being the second largest public sector bank in the country after State bank of India. BOB offers a wide range of financial products and services to its customers from both the corporate as well as retail segments. The bank has a rich presence nationally as well as internationally with its strong network of 5307 branches along with 8000 ATMs within the national limits and its outstanding presence across 25 countries internationally. BOB has outsourced its customer care services through top notch organizations such as TCS and IBM to avail its customers an exceptional banking experience. BOB ranked 801 on Forbes Global 2000 list in the year 2014. This article is aimed at highlighting facts about Bank of Baroda Personal Loan.

Apply for Bank of Baroda Personal Loans at Letzbank

  • It is quite easy to apply for personal loan with a simple online process. All you will be required to do is to submit an application on our website letzbank.
  • On our website you will be able to evaluate the best personal loan offers that are prevalent in town. You get to pick your personal loan scheme from a large gamut of partner banks available on our website.
  • Click on the Personal Loan EMI Calculator option and plan your own loan including your EMI, ROI, and loan tenure. You can also fore-see your loan at various stages by using this tool. This will enable you to take a fairly good decision on the loan scheme you want to pick for yourself.
  • What next? Simply submit your application online and we will get back to you.
  • None of the applicants will be charged any additional fee towards the service fee for the applications submitted online.
  • You can also maintain your documents in Document Locker at Letzbank which helps you e-save your KYC documents and other important documents confidentially and make it available for usage any time in future.

About Personal Loans at Bank of Baroda

Personal Loans are personalized loan schemes to strategically planned to meet any of your financial requirement that can be anything ranging from wedding in the family, vacations, tour, travel or any unforeseen expenditure that requires immediate cash. Personal loans can assist you financially by providing you with immediate finances exactly when you need it. If you are an eligible candidate your bank will also be able to provide you with pre-approved personal loan scheme right your doorstep to meet your financial need. Personal loans are your helping hand in all such situation when you run out of cash. Personal loans are the most quick, easy and approachable loans that you would be able to bank upon when you are in need of a loan. You can bank upon Bank of Baroda Personal Loan schemes to meet your personal financial requirements.

Benefits of availing Personal loans at Bank of Baroda

You will be able to cater for your financial requirement within a short span of time or a short notice and avail personal loans for meeting your finances relates to following:

  • Wedding
  • Travel
  • Honeymoon
  • Holiday
  • Medical Expenditure or for
  • Any other personal requirement
  • Personal loans can also be availed by Pensioners or Defence Pensioners
  • Personal Loans are also available for Earnest Money Deposits for customers who are the buyers of home or a flat as well as plot.

Beneficiaries of personal loan are mentioned below

  • Permanent employees of any Central government, State Government, Autonomous Bodies, Public or Joint sector undertakings, reputed Limited organizations, MNCs as well as Educational Institutions. Apart from being a permanent employee of the organization you should have a minimum 1 year service in the organization
  • Self Employed Professionals who can be either Doctors, Engineers, Architects, Interior Designers, Chartered Accountants, Company Secretary, as well as Technical and Management Consultants who have been running their business successfully for atleast an year are eligible to apply for Personal loans at Bank of Baroda
  • Insurance agents can also apply for Personal loans at Bank of Baroda if the agent fulfils following condition
  • The insurance agent has been running insurance business for a period of at least 5- years continuously.
  • The insurance agent has been earning regular and steady earnings and maintaining SB account with the Bank of Baroda or crediting commission cheques obtained from their principals.

Loan Amount

  • You can avail personal loan for a minimum loan amount of Rs. 20000 and maximum loan amount of Rs.2,00,000/- as per your eligibility which also depends on your credit score. Civil Pensioners can apply for personal loan upto Rs.1 Lakhs Defence Pensioners can apply for personal loan upto Rs. 2 Lakhs .Earnest Money Deposit a maximum limit is upto Rs. 5 Lakhs

Mode of Repayment

  • You can payback personal loan at Bank of Baroda during a loan tenure which can be for a maximum period of 36 months payable through Equated Monthly Instalments (EMI).

Prepayment Charges

  • Bank of Baroda does not charge any additional amount as a penalty toward Pre-payment charges, however the bank does charge a penalty of 2% when there is an amount overdue towards the bank.