BOB Personal Loan 2024: Take a personal loan of Rs 10 lakh immediately at 0% interest rate

BOB Personal Loan 2024: Bank of Baroda is now providing its customers with the option to obtain a personal loan at extremely low-interest rates, up to a maximum limit of 10 lakhs. This page is your go-to resource for information about the BOB personal loan plan in 2024 if you’re a Bank of Baroda customer searching for a personal loan.

We’ll go over the requirements for applying online for a BOB Personal Loan as well as present a comprehensive list of required paperwork. You’ll also discover details on GST, processing costs, documentation fees, and any other unstated expenses the bank might impose. Take a minute to go through this post to get a thorough rundown of what BOB Personal Loan Online Apply has to offer

With a simple and fast online application process, Bank of Baroda, an Indian nationalized bank, is facilitating easy access to loans up to 10 lakh rupees for its customers. With the BOB Personal Loan Online Apply application, you may complete the full process on your phone, avoiding the need to visit a branch or wait in a queue.

The bank is offering personal loans through this mobile-friendly method in amounts between Rs 50,000 and Rs 10 lakhs. These BOB Personal Loan Online Apply 2024 can be used for a number of things, like paying for wedding fees, organizing trips, budgeting for school, meeting urgent medical needs, or improving your house with renovations or décor.

Charges for BOB Personal Loan Apply Online 2024

BOB Personal Loan: The interest rate for the BOB Personal Loan Online Apply at Bank of Baroda is 12.40% initially, and it may change depending on the borrower’s CIBIL score and other factors. 17.75% is the highest interest rate that the bank can charge on personal loans. A 2% processing fee will also be applied, with a further reduction for GST from the net amount.

The processing fee might range from 1000 to a maximum of 10,000 rupees, depending on the loan amount. It is noteworthy that a 2% penalty interest is also levied by the bank. Bank of Baroda guarantees its clients that their personal loans are free of any additional fees in spite of these specifics.

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BOB Personal Loan Eligibility

BOB Personal Loan: Only Indian citizens who are currently Bank of Baroda customers are eligible to apply online for a BOB personal loan. The bank account, whether it be a salary account, current account, savings account, or any other kind of account, must be held by an eligible individual.

When completing an online application for a BOB personal loan, applicants must be at least 21 years old. The maximum age is 65. A minimum of one year of employment with the current firm is required for unemployed individuals. Although they are encouraged to apply, self-employed people must have at least a year of experience in their profession.

List of documents required to apply online for a BOB personal loan

Make sure you have the following paperwork and information ready when submitting an online personal loan application with Bank of Baroda since it will be posted on the official website:

  • An operational mobile number.
  • Aadhar card of the candidate.
  • PAN card.
  • Bank statements obtained digitally, spanning at least six months.
  • the personnel salary slips for the last six months.
  • A least of one year’s worth of balance sheets and the most recent filing of GST returns are needed for self-employed individuals.
  • For the online KYC process, a dependable smartphone or other device with an internet connection and a selfie camera is necessary.

How to Apply Online for BOB Personal Loan

Without installing the mobile application, you can apply for a Bank of Baroda online loan by going to the official website and following the steps listed below:

  • Click this link to access the Bank of Baroda’s official website: 
  • You will now be able to access the official Bank of Baroda website for its online loan offerings, where you can review all of the terms and conditions as well as the criteria for eligibility for the BOB Personal Loan Online Apply on the dashboard. After reading the content, you can navigate the website and select the “proceed” link. 
  • Now you will be asked to enter your mobile number and you will receive the OTP on the mobile number
  • You will receive the OTP if the bank has your number on file, and then the online application form will show up on your screen to be completed.
  • After choosing the loan amount and the repayment plan in installments, click the submit link.
  • You should anticipate receiving a notification on your phone after submitting your application. Your bank account will get the loan amount after the verification process is successfully completed, which usually takes a few minutes to several hours.
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