In today’s world, our happiness rests on money, if we have money, we have everything. With money, we can buy everything we want. If we have money we can make our dreams come true.
Friends, nowadays only money is that thing through which we can do all the work that we want to do because if we have money we can do all possible things. There are many ways to take money but the most secure way is the bank. Every bank has its own amount limit and interest rates. So let us talk about BANK OF BARODA PERSONAL LOAN.
WHAT IS BANK OF BARODA PERSONAL LOAN?
BANK OF BARODA PERSONAL LOAN provides a fast and easy solution to fulfill urgent financial requirements and has many advantages over other financial facilities. It also has many benefits such as no strict credit limit, flexible usage of funds, higher borrowing, and many more.
FEATURES OF BANK OF BARODA PERSONAL LOAN
- The minimum age must be at least 21 years and the maximum must be 60 years at the end of repayment tenure.
- For a personal loan, applicants must be employees of government bodies or private companies with a regular service of one year. Likewise, a self-employed or business person must also have a business in practice for at least one year.
BENEFITS OF BANK OF BARODA PERSONAL LOAN
- This is done to grant you a loan for a larger sum.
- Low-interest loans are available here.
- You don’t need to visit the bank because it is all online.
- You can obtain a loan from here with a minimum of paperwork.
- Here, you can obtain a loan for ₹.
ELIGIBILITY
- FOR SALARIED INDIVIDUALS:
AGE- Minimum age must be 21 years and the maximum must be 60 years at the end of loan repayment tenure.
WORK EXPERIENCE- An employee should be in continuous service for at least one year.
LOAN TENURE- Government employees can repay the loan up to 60 months.
- FOR SELF-EMPLOYED INDIVIDUALS:
AGE- Minimum age must be 21 years and the maximum must be 65 years at the end of loan repayment tenure.
WORK EXPERIENCE- An individual should be in a stable business for at least one year.
LOAN TENURE- An individual can repay the loan up to 48 months.
- LOAN AMOUNT:
MINIMUM AMOUNT- Rs. 50,000 for borrowers from semi-urban and rural areas, and Rs. 1,00,000 for metro and urban areas.
MAXIMUM AMOUNT- Rs. 5,00,000 for borrowers from semi-urban and rural areas, and Rs.10,00,000 for metro and urban areas.
- INTEREST RATE- 11.70% P.A. To 14.70% P.A. For Existing Bank Of Baroda Customers; And 13.70% P.A. To 16.70% P.A. For Other Borrowers.
- RESIDENTIAL STATUS- Resident of India.
DOCUMENTATION
- Properly completed loan application with two passport-size photos.
- Form 135 should be provided with information on liabilities and assets, as well as the most recent six-month bank statement and updated passbook.
- PAN cards, Aadhar cards, voter identification, driver’s license, passports, employee identification cards issued by organizations, practice certificates, and identity documents issued by appropriate professional associations like ICFAI, ICAI, and ICWA are all examples of ID proof.
- Any other paperwork that the bank may require.
FOR SALARIED INDIVIDUALS
- Account statement from any bank for the previous six months. Last three months’ worth of pay stubs.
FOR SELF-EMPLOYED INDIVIDUALS
- Tax returns for the previous year.
- Balance sheet for the most recent year, income statement, and profit and loss statement
- TDS certificate (Form 16A), income tax challan, clearance certificate, IT assessment, and Form 26 AS.
- Company documentation such as a Gomasta license, a registration certificate, and a service tax registration.
HOW TO APPLY BANK OF BARODA PERSONAL LOAN ONLINE?
There are two ways to apply for a personal loan from Bank of Baroda. The first is online. To do this, go to the Bank of Baroda website, click on Personal Loan, then enter your personal information and apply for a loan. There is also an offline option; to use it, you must visit a bank and inform the staff that you wish to apply for a personal loan. The bank will then give you a form, which you must complete and return. In this way, friends, you may obtain a loan from Bank Of Baroda. able to obtain a personal loan.
- First of all, you have to go to the internet site of Bank Of Baroda.
- After this, you have to see the loan option in it.
- After this, you have to pick a personal loan.
- After this, you have to register in it by getting into your mobile number.
- After this, you have to enter your basic data into it.
- After this, you have to enter your work information.
- After this, you have to upload your documents to it.
- After this, your mortgage application will go under review.
- After this, you will get a call from the bank.
- After this, your mortgage will be approved.
- After this, you can easily use this loan.
CUSTOMER CARE NUMBER
- 1800 258 4455
- 1800 102 4455
FAQs
- Is provider tax levied on the processing fees levied at the time of sanction of the loan?
ANS. Service tax is payable on the processing costs levied through the bank.
- What is the minimum loan tenure for Bank of Baroda personal loans?
ANS. The minimum loan tenure is 12 months.
- If I am a team of workers from the Bank of Baroda, can I apply for a BOB personal loan?
ANS. No, the bank does not allow team workers to apply for this loan product.
- Am I allowed to encompass my spouse’s income when I want to follow for a Bank of Baroda personal loan?
ANS. Yes, you can consist of your spouse’s income when you have to improve your mortgage eligibility in order to apply for a BOB personal loan.
- What will the lowest EMI be for a BOB private loan worth Rs.1 lakh?
ANS. If you go for a BOB private loan worth Rs.1 lakh, your lowest EMI will be Rs.2,149.
After understanding about Bank of Baroda If you have any query left in your mind, then you can ask us by way of commenting. Friends, if you like the statistics given through us, then without a doubt share it with your friends. Heartfelt thanks to all of you for taking a little time out of your valuable time to examine this publish until here.
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