A Bank of Baroda (BOB) Personal Loan can be a great option if you need financial assistance for urgent expenses. With competitive interest rates and flexible repayment options, BOB offers personal loans up to ₹2 lakh. This article covers everything you need to know about BOB Personal Loan 2025, including eligibility criteria, required documents, application process, and benefits.
What is BOB Personal Loan?
A Bank of Baroda Personal Loan is an unsecured loan that can be used for various personal needs, such as medical emergencies, weddings, education, travel, or any other expenses. The loan does not require any collateral or security.
Key Features of BOB Personal Loan 2025
| Feature | Details |
|---|---|
| Loan Amount | ₹50,000 to ₹20 lakh |
| Interest Rate | Starts from 10.90% (depends on credit history) |
| Repayment Tenure | 12 months to 60 months |
| Approval Time | Within 48 hours if eligible |
| Collateral Required | No collateral required |
| Processing Fee | 2% of loan amount (plus GST) |
Eligibility Criteria for BOB Personal Loan
| Eligibility Factor | Requirement |
| Age | 21 to 60 years |
| Employment Type | Salaried (govt/private) or self-employed |
| Minimum Income | ₹25,000 per month |
| Credit Score | 700 or above |
| Work Experience | Salaried – minimum 1 year, Self-employed – minimum 2 years |
Required Documents for BOB Personal Loan
| Document Type | Examples |
| Identity Proof | Aadhaar Card, PAN Card, Voter ID |
| Address Proof | Electricity Bill, Ration Card, Aadhaar Card |
| Income Proof | Salary Slips (last 3 months), Bank Statements |
| For Self-Employed | ITR (Income Tax Return), Bank Statement |
| Photograph | Passport-size photo |
| Loan Application Form | Provided by the bank |
How to Apply for BOB Personal Loan?
Online Application Process
- Visit the official Bank of Baroda website: www.bankofbaroda.in
- Navigate to the Personal Loan section and click on “Apply Now”.
- Fill in the required personal and income details.
- Upload the necessary documents.
- Submit the application and wait for the bank’s verification.
Offline Application Process
- Visit the nearest Bank of Baroda branch.
- Collect and fill out the Personal Loan Application Form.
- Submit the form along with required documents.
- The bank will verify your details and transfer the loan amount upon approval.
Benefits of BOB Personal Loan
- Quick Disbursal: Loan approved within 48 hours.
- Flexible Repayment: Tenure ranges from 12 to 60 months.
- Low Interest Rate: Competitive interest rates.
- No Collateral Required: No need to pledge any asset.
- Multi-Purpose Usage: Can be used for medical, education, wedding, or other personal expenses.
BOB Personal Loan EMI Calculation
If you take a ₹2 lakh loan at 12% interest rate for 3 years, the estimated EMI would be ₹6,645 per month.
| Loan Amount | Interest Rate | Tenure | EMI (Approx.) |
| ₹2,00,000 | 12% p.a. | 36 months | ₹6,645 per month |
You can use the BOB EMI Calculator for an accurate EMI calculation.
Frequently Asked Questions (FAQs)
1. What is the minimum age for a BOB personal loan?
✔️ The minimum age is 21 years, and the maximum age is 60 years.
2. How long does loan approval take?
✔️ If eligible, the loan is approved within 48 hours.
3. Is a credit score necessary?
✔️ Yes, a credit score of 700 or above is required for approval.
4. Can I apply for the loan online?
✔️ Yes, you can apply via BOB’s official website.
5. What can I use the personal loan for?
✔️ The loan can be used for medical emergencies, education, wedding, travel, or any personal financial needs.
Conclusion
BOB Personal Loan 2025 is a great option for individuals looking for quick financial assistance. If you meet the eligibility criteria, you can easily get a loan of up to ₹2 lakh without any collateral.
Need a personal loan? Apply now and meet your financial goals!