Do you need cash to help tide over an emergency? If you are in a hurry but don’t want to put yourself at great risk by taking a loan at high-interest rates, then a personal loan may be the answer. Personal loans are an essential financial instrument for those of you who need instant cash for any emergency. However, if you are taking a personal loan, especially if it is your first loan then you should know about it properly before applying for it.
As a layman, you may find it difficult to understand the different choices available. You may have tried asking your friends and relatives or just searched on the internet. Well, let us help you cut short on all the information that you may be getting by suggesting one of the best and most trusted banks for personal loans – Bank of Baroda.
Bank of Baroda Personal Loan
Personal loans from the Bank of Baroda can be obtained for any personal requirement. Whether you need funds to finance your engineering education, pay for your wedding ceremony, or take a family vacation abroad, a personal loan is one of the most flexible forms of financing to fulfill your urgent requirements. If you are looking for a personal loan that can help you round up all your individual financial requirements, then look no further. The Bank of Baroda offers one of the most accessible personal loans across India with the highest interest rate in its category. You don’t need to be a billionaire to handle personal loan applications. If you meet the eligibility criteria, you have a great chance of receiving personal loans, even if you have a low income. At Bank of Baroda, the only thing that matters is your current and future income levels.
The best part about these loans is that they come with attractive interest rates and minimal documentation for processing. So let’s discuss the interest rates and other features of the Personal Loan from the Bank of Baroda.
Loan Amount from Rs. 10k to Rs. 15 Lakhs
Repayment Tenure 12 to 84 months
Rate of Interest: 9.70%-17.05% p.a.
10.80% p.a. (for pensioners)
Processing Fees: 1- 2% (Rs 1,000-10,000)+GST
Benefits of Bank of Baroda Personal Loan
Can work as an advantage over Credit Cards
Works as the best Emergency Fund
No strict credit limits
Pay EMIs via cheque, bank transfer, or even cash
Facility to extend the repayment timeline
Flexible usage of funds
Higher loan amount to borrow
FAQ's
The starting interest rate of BOB Personal Loan is 9.70% p.a
For a BOB personal loan worth Rs.1 lakh, your lowest EMI will be Rs.2,149.
No, you won’t be requiring any co-applicant for the loan procedure.
You can apply for the Bank of Baroda personal loan if your age is a minimum of 21