If you need funds for personal expenses such as school fees, home repairs, medical bills, or other personal needs, you can now apply for a personal loan from Bank of Baroda (BOB). This article provides a step-by-step guide on how to apply for a personal loan of up to ₹10 lakh from BOB.
Read on to learn about the eligibility criteria, interest rates, required documents, and the online application process.
Why Choose BOB Personal Loan?
Bank of Baroda offers personal loans to individuals for various personal needs. Whether you are a salaried employee, self-employed, or a pensioner, you can easily apply for a loan online and get up to ₹10 lakh. The loan comes with competitive interest rates and flexible repayment options.
Features of BOB Personal Loan 2025
- Eligibility:
- Available to salaried individuals, government employees, and private sector employees.
- Minimum age: 21 years.
- Maximum age: 60 years for general applicants and 65 years for salaried individuals.
- Loan Amount:
- Up to ₹20 lakh for metro city residents.
- Up to ₹10 lakh for rural area residents.
- Processing Fees:
- Zero processing fees for government employees with a salary account in BOB.
- 2% processing fee + GST for other applicants.
- Repayment Tenure: Up to 7 years.
Eligibility Criteria for BOB Personal Loan
To apply for a BOB personal loan, you must meet the following criteria:
- You must be an Indian citizen.
- You should have a good credit score.
- You must provide all necessary documents (listed below).
- You should not be a loan defaulter with any bank or financial institution.
Interest Rates for BOB Personal Loan 2025
- General Applicants: Interest rates start at 11.05% per annum.
- Pension Account Holders: Interest rates range from 12.15% to 12.90% per annum.
Documents Required for BOB Personal Loan
To apply for the loan, you will need the following documents:
- Aadhaar Card
- PAN Card
- Salary Slip (for salaried individuals)
- Income Tax Returns (for self-employed individuals)
- Bank Statements
- Passport-sized Photograph
- Mobile Number
How to Apply Online for BOB Personal Loan 2025
Follow these steps to apply for a personal loan from Bank of Baroda:
- Visit the official website of Bank of Baroda: https://www.bankofbaroda.in.
- On the homepage, click on the “Personal” option.
- Select the “Loan” option from the menu.
- Choose “Personal Loan” from the list of loan options.
- Review the loan details and click on “Apply Online.”
- Fill out the application form with all required details.
- Upload the necessary documents (if prompted).
- Enter your bank account details for loan disbursement.
- Submit the application.
Once your application is submitted, Bank of Baroda will verify your details and disburse the loan amount to your account upon approval.
Summary
This article provides a comprehensive guide on how to apply for a BOB Personal Loan in 2025. By following the steps mentioned above, you can easily apply for a loan of up to ₹10 lakh. Make sure to check the eligibility criteria, interest rates, and required documents before applying.
We hope this article was helpful. If you found it useful, please like, share, and comment. For more updates on BOB Personal Loan 2025, visit the official website regularly.
Important Links:
For further assistance, feel free to contact Bank of Baroda customer support.