Bank of Baroda Personal Loan

Personal Loan at 10.99%*

Apply & Get Instant Approval

Bank of Baroda is an Indian multinational, public sector banking and financial services company. It is under  Government of India. 

What is Personal Loan?

Personal Loan is an unsecured type of loan which helps you meet your current financial needs and in this applicants does not need to pledge any of his belonging or the security to the bank.  and your lender provides you a personal loan with the flexibility to use the funds as per the requirements

What Bank of Baroda offers you?

  • Super fast approvals of upto Rs. 25 lacs on your salaried personal loan through our online facility.
  • No need to move from bank to bank, we provide you with complete online solutions.
  • Just log onto our online section, fill a simple form and in just 90 seconds get an approval for your application.

Online Account Access:

Just log in with your loan account number and access whatever information you want about your loan. And get all information about your loan like:

  • repayment track
  • interest certificate
  • payment schedule etc. through our digital customer portal.

Eligibility Criteria For Bank of Baroda Personal Loan

There are different eligibility criteria for both applicants.

Salaried Applicant:

  1. Minimum age requirements of the applicant is 21 years and maximum up to 60 years.
  2. The applicant must have the work experience of the three years and the salary should be received in their accounts only.
  3. The applicant must have an excellent credit history.
  4. Job location of the applicant should be mentioned.
  5. A  borrower should have minimum income of Rs. 18,000 in metropolitan city and Rs. 12,000 in non -metro city.

 Self-employed Applicant:

  1. Minimum age requirement for an independent person is 25 years.
  2.  The applicant applying for the personal loan should file ITR for the last three years.
  3.  If the applicant is the businessman, then the business should be running from the past three years.
  4.  The credit score of the individual applicant should be good. There should not be any debt or dues left.
  5.  The annual income of the applicant should be minimum Rs 2.5 lakh.
  6. The whole documentation process of the personal loan is the applicant has to submit his financial and his bank statements of the previous three months.

Bank of Baroda Personal Loan Documents:

  1. Residence proof: Firstly, the documents required for the residence proof includes:(passport/ID card/ Voter card/ aadhar card/ration/card/driving license) and if the applicants are living in rental apartments then has to submit his agreement, electricity bill on his name and address of the owner.
  2.  Self-employed:After that, the applicants of personal loan should file ITR for the last three months, and his business should be registered..Salaried applicants: The applicants have to his salary slip of last three months and bank statement of last six months.
  3. Identity proof  : In addition to, verification documents especially require one among the following:( passport/ID card/ Voter card/ aadhar card/ration/card/driving license) any one of them.
  4.  Under KYC  formality: Furthwrmore,every applicant has to submit his pan card, which is an essential document.
  5.  Two colored passport size photos: Lastly,(Applicants should not wear any glasses)

Bank of Baroda Personal Loan Interest Rates:

Rates of interest provided by the bank  are quite affordable. It starts at 10.75 % per annum.

Bank of Baroda Personal Loan tenure:

  1. Tenure is the time for which you have gotten the loan. It can be 1 year to 5 years.
  2. Pre-closure Charges –  Bank applies some charges on the pre-closure of the personal loan. It is 4% of the outstanding balance.

How to apply on magic loans.in:

1. Search for magic loans.in on Google.
2. First of all, a form will open up.
3. After that, fill the way with the required information.
4. Lastly, you will get call back from us.


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