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Bank of Baroda (BOB) Personal Loan, Interest rate and EMI Calculator May 2019

(Updated on 08.05.2019) Bank of Baroda (BOB) Personal Loan May 2019 Get Instant Quick & Easy Approval on Bank of Baroda Personal Loan. Loansninsurances.com provide a simple tool to calculate your Personal Loan EMI on the basis of ✓ Interest Rate ✓ Loan Tenure ✓ Processing Fee ✓ Eligibility ✓ Best Offers & more.

BANK OF BARODA BANK PERSONAL LOAN – QUICK, EASY & INSTANT APPROVAL ONLINE

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Bank Of Baroda Personal Loan

Bank Of Baroda is the second largest nationalized bank of India. Bank Of Baroda personal loan can be availed for any legal purpose such as expenses for domestic or foreign travel, medical treatment of self or a family member, meeting any financial liability such as marriage of son or daughter, educational expenses and other financial requirements. The bank provides lots of features and benefits like nill prepayment charges, fast loan processing and approvals, personal loan special schemes for Ex-Defense Personnel and Premium Personal Loan option for existing Customers. Use Bank Of Baroda personal loan eligibility calculator to check out your eligibility for Bank Of Baroda personal loan.

Also be a part of Bank of Baroda Home loan at the best attractive interest rates and have an abode of your own.

Bank Of Baroda Personal Loan Interest Rate

Rate of Interest

11.35% to 14.35% p.a.

Maximum Loan Tenure

48 months

Category

Maximum loan amount

Metro and Urban Cities

Rs. 10 lakhs

Semi-urban and rural cities

Rs. 5 lakhs

Processing Fee

Rs. 1,000 to Rs. 10,000 of the loan amount

Prepayment Charges

Within 6 months: 6% of principal outstanding

After 6 months: Nil

Bank Of Baroda Personal loan EMI Calculator

BANK OF BARODA Personal Loan EMI Calculator

Fill Loan Amount, Interest rate & Tenure in Fields & get Instant Calculation for Personal loan EMI within seconds.
Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Flat Interest Rate PA
Flat Interest Rate PM
Total Interest Amount
Yearly Interest Amount

Bank Of Baroda Personal Loan Features and Benefits

  • Maximum loan amount in metro and urban cities is Rs. 10 lakhs and semi – urban and rural cities is Rs. 5 lakhs.

  • Minimum loan amount in metro and urban cities is Rs. 1 lakh and semi – urban and rural cities is Rs. 50,000.

  • Repayment capacity if gross monthly income less than Rs. 75,000 is 40% of Gross Monthly Income, repayment capacity if gross monthly income is Rs. 75,000 and above but less than Rs. 2,00,000 is 50% of Gross Monthly Income and repayment capacity if Gross Monthly Income is Rs. 2,00,000 and above is 60% of gross monthly income.

  • Repayment period is maximum of 48 months in equated monthly installments.

  • Penal interest at the rate of 2% should be levied on overdue amount.

  • Prepayment penalty is nil, if pre-closure after 6 months and it is 4% on the outstanding balance as per original repayment or EMI schedule, if pre-closure within 6 months.

Bank Of Baroda Personal Loan Eligibility 

  • The minimum age of the applicant should be 21 years.

  • The maximum age of salaried persons should not exceed 60 years and for non-salaried persons should not exceed 65 years.

  • Employees of Central / State Govt. / Autonomous Bodies/ Public / Joint Sector Undertakings, Public Limited Co. / MNCs & Educational Institutions with minimum continuous service for 1 year.

  • Employees of Proprietorship, Partnership firms, Private Limited companies, Trust with minimum continuous service for 1 year.

  • Insurance agents doing business for minimum last 2 years.

  • Self Employed Professionals (Doctor, Engineer, Architect, Interior Designers, Tech. and Management Consultants, Practicing Company secretaries etc) with minimum 1 year stable business.

  • Self Employed Business persons with minimum 1 year of stable business.

Bank Of Baroda Personal Loan Documents Required

  • Passport , PAN Card, Employee identity card, any other valid proof as Proof of identity.

  • Electricity bill , Telephone bill , Aadhar Card as proof of validity .

  • PAN Card needs to be submitted.

  • Last 12 months bank statement.

  • For salaried class – Last one year ITR , Form-16 or letter from Employer , Last 6 months salary slip and For business class last three years ITR , P and L Balance sheet as proof of income .

  • Allotment letter, advance money receipt , title deed as property papers.

  • Additional documents needs to be submitted in case of NRIs.

Bank Of Baroda EMI Calculation Table

For a personal loan against the amount of Rs. 5,00,000 for 4 years at the interest rate of 11.35% p.a. The EMI comes out as Rs. 13,008. To know the EMIs for all the years, see the below given table.

Personal Loan Amount (Rs)

Interest Rate(% p.a.)

Loan Tenure(yrs)

Monthly Installment(EMI)

Total Interest Amt

Total Amount (Principal+Interest)

5,00,000

11.35

1

Rs. 44,272

Rs. 31,270

Rs. 5,31,270

5,00,000

11.35

2

Rs. 23,385

Rs. 61,246

Rs. 5,61,246

5,00,000

11.35

3

Rs. 16,452

Rs. 92,285

Rs. 5,92,285

5,00,000

11.35

4

Rs. 13,008

Rs. 1,24,380

Rs. 6,24,380

Amortization Table

If you need around Rs 5,00,000, you can apply for personal loan from South Indian Bank at 11.35% p.a. interest rate for 4 years. Below is the amortization table for the same.

 

Year

Principal

Interest

Balance Amount

1

Rs. 104,681

Rs. 51,415

Rs. 395,319

2

Rs. 117,200

Rs. 38,896

Rs. 278,119

3

Rs. 131,217

Rs. 24,879

Rs. 146,902

4

Rs. 147,024

Rs. 9,189

Rs. 0

LATEST NEWS:-

1)  Bank of Baroda increased its lending rate by 5 bps across various tenures. The new lending rate will be effective from 7th July, 2018. The increase in the Marginal Cost of Lending Rate (MCLR) is due to higher cost of fund and rising interest rate scenario. The Bank’s New 1-Year MCLR is 8.50%. Whereas for Overnight, One Month, Three Months, and Six Months; the lending rate has been revised at 8.00%, 8.05%, 8.15% and 8.35% respectively.

Bank Of Baroda Personal loan FAQs

Q1) What is the maximum loan tenure of Bank Of Baroda Personal loan?

The maximum loan tenure for Bank Of Baroda personal loan is 48 months.

Q2) What is the prepayment charges for Bank Of Baroda Personal loan?

The prepayment charges for Bank Of Baroda personal loan if pre-closure after 6 months is nil and if pre-closure within 6 months then 4% of the outstanding balance as per original repayment.

3) What is the maximum loan amount i can avail?

Loan amount is available in the following manners:

  • Maximum loan amount for Metro & Urban areas is Rs. 10.00 lakhs.

  • Maximum Loan amount for Semi-Urban & Rural areas is Rs. 5 lakhs.

  • Minimum Loan amount for Metro and Urban areas is 1.00 lakh.

  • Minimum loan amount for Semi-Urban & Rural is Rs. 50,000/-.

4) What is the processing fee for Bank of Baroda Personal Loan?

The processing fee for Baroda personal loan is 2% of the loan amount subject to a minimum of Rs. 1000/- and to a maximum of Rs. 10,000.