Bank of Baroda Personal Loan

Bank of Baroda Personal Loan Features

Bank of Baroda Personal Loan Eligibility Criteria	Details
HDFC Bank Personal Loan Interest Rate	9.75% p.a.
Bank of Baroda Personal Loan Lowest EMI per lakh	Rs 2112
Bank of Baroda Personal Loan Tenure	12 to 60 months
Bank of Baroda Personal Loan Processing Fee	1% to 2% of Loan Amount
Bank of Baroda Personal Loan Prepayment Charges	Allowed after 12 Months (2 – 4 %)
Bank of Baroda Personal Loan Part Payment Charges	Allowed after 12 Months (2 – 4 %)
Bank of Baroda Personal Loan Min Loan Amt	₹ 50,000
Bank of Baroda Personal Loan Max Loan Amt	₹ 75 Lakh

About Bank of Baroda Personal Loan

Bank of Baroda is an Indian multinational, public sector banking and a financial services company. It is a government bank in India. It was ranked 1145 on Forbes Global 2000 list, based on 2017 data. Avail the Best Bank of Baroda Personal Loan on Lowest Interest Rates.

What is Bank of Baroda Personal Loan?

Are you or any of your dear one is going through some medical issues but don’t have health insurance? If so, then take advantage of Bank of Baroda personal loan. A personal loan gives you the full benefit to avail this loan for all your individual needs. Such kind of problems arises from time to time and for that reason solution like personal loan is the best option to go for.

Documents required for Personal Loan

Simple and easy documentation for Allahabad Bank Personal Loans (though documentation varies from individual to individual). The document requirement is based on your profession, income and loan requirement.

1. Identity proof: As a verification document, one should especially require one among the following: (Passport/Id card/voter card/driving license/Aadhar Card) any one of them.
2. Residence proof: The documents required as proof of residence are: (Passport/Id card/voter card/driving license/Ration Card/Aadhar Card).  And the applicant living in a rented apartment, then he has to submit his rental agreement, electricity bill on his name and the address of the owner.
3. KYC formality: The applicant has to provide his PAN card which is an important document
4. Salaried applicant: One has to submit his bank statements of the last six months and the salary slip of the last three months.
5. Self-employed Applicant: The person applying for a personal loan should file ITR for the last three years, and the business should be registered.
6. And if the applicant is self-employed, then they have to submit the ITR of the last three years and his business should be registered.
7. Two coloured passport size photos. (Applicant should not be wearing glasses)

Personal Loan Eligibility

Not everyone can apply for a personal loan, an applicant have to follow some eligibility criteria based on which bank approves the applicant’s request. There are two categories of applicants:

1. 1. 1. Salaried
      2. Self-employed

There are various eligibility criteria for both applicants.

Salaried Applicant:

1. 1. 1. The minimum required age of an applicant must be between 21 years to 60 years.
      2. A metropolitan city borrower should have a minimum income of Rs 18,000. And for the non-metropolitan city, the minimum salary should be Rs 12,000.
      3. The work experience of the borrower should be for three years, and the salary should be received in their account only.
      4. A person applying for a personal loan should have a good credit history.

Self-employed Applicant:

1. 1. 1. The required age of a self-employed person should be of 25 years.
      2. The person should file ITR for the last three years, applying for a personal loan.
      3. An applicant must have a good credit score must, and there should not be any debt left due.
      4. The minimum amount should be of Rs 2.5 lakhs per annum at least.
      5. The business should be running for at least from the last three years if the applicant owns a business.