BOB Digital Personal Loan Online apply 2024: Features, Documents required, eligibility criteria

BOB Digital Personal Loan: The Bank of Baroda fast personal loan is particularly convenient for individuals who wish to receive a personal loan without visiting a branch because the bank offers the loan online in phases. It might be an emergency, such as medical expenses, school expenses, attending a wedding or event, or home remodeling for any other reason, but a personal loan can be requested for a variety of reasons, so you can read about the current features of BOB Digital Personal Loan in this article.

You can review the BOB Digital Personal Loan qualifying requirements and key document list that must be supplied online before applying for a BOB personal loan online in 2023.

BOB Digital Personal Loan: Bank of Baroda’s BOB Digital Personal Loan services benefit its clients by allowing them to apply for a loan of up to ten lakh rupees online. Customers who apply manually by visiting the bank face difficulties because the bank is closed on holidays and weekends. Aside from that, the bank’s operating hours are also brief.

Customers may now apply for personal loans from the comfort of their own homes using their smartphones in Bank of Baroda’s digital personal loan initiative. Because it is an online operation, you do not need to physically present any documents to the branch.

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Bank of Baroda Personal Loan Features and Benefits

  • Applicants will be able to pay loan amounts ranging from 12 to 60 months depending on their financial situation.
  • You may apply for a maximum of 10 lakh with Bank of Baroda online.
  • The interest rates start at 12.40% and can go up to 17.75% depending on the customer’s eligibility and condition.
  • Aside from the interest rates, you must also pay 2% processing costs, which should be between 1000 and 10,000 rupees.
  • The stamp paper prices and GST fees will be deducted from the loan payment you receive in your bank account.

BOB Digital Personal Loan Eligibility Criteria

  • Bank of Baroda is inviting only Indian people to apply for the BOB digital personal loan 2023.
  • Before applying for a personal loan, the applicant must already have a bank account with the Bank of Baroda.
  • The application age is from 21 to 58 years for salaried individuals, and if you are working, you will be eligible for a loan up to the age of 65.
  • The employee should have been with the same firm for at least one year.
  • Any self-employed person applying for a BOB personal loan should have at least one year of company experience.
  • Avoid becoming a bank defaulter.
  • Should not have previously obtained a loan from the Bank of Baroda or any other institution.

Documents required for Bank of Baroda Personal Loan

  • Valid mobile number
  • The Aadhaar card of the applicant
  • The PAN card of the applicant and Aadhar and PAN should be linked with the mobile number which is linked to Bank of Baroda.
  • Digital bank statement of Bank of Baroda from at least 6 months
  • If you are an employee then you should provide the last 2 years’ income tax return or TDS
  • Self-employed have to provide the last 2 months’ GST return proof and income tax return
  • The application should have a proper smartphone with good internet connectivity and a web camera which will be used at the time of KYC to capture the real time image.

BOB Personal Loan apply online

  • Click on this link to go to the official website of Bank of Baroda personal loan.
  • After clicking the continue link, you will be sent to the dashboard, where you may read the terms and conditions and other key qualifying requirements on the website.
  • You will now be taken to a new page where you must enter your cellphone number, which is connected to the Bank of Baroda, and from which we will get OTP verification.
  • Now, your information displays on the dashboard based on the bank’s data, and you must pick the loan amount that you wish to receive.
  • After uploading all of the papers, pick the EMI process to repay the loan amount and click the submit link.
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