The Bank of Baroda provides personal loans for fulfilling different requirements, where the interest rate is one of the key factors affecting your EMI and repayment amount. BoB Personal Loan Interest Rate might differ based on several criteria like your credit score, income level, loan amount, and repayment duration. You can find information on the interest rate in order to plan your borrowing and repayment properly. This blog will explain the current BoB Personal Loan Interest Rate in 2026, how to calculate EMI, and other details related to borrowing a personal loan from BoB.
Baroda Personal Loan Interest Rate 2026
The table below shows the applicable floating and fixed interest rates for Baroda Personal Loans across different borrower categories:
| Baroda Personal Loan Category | Floating Rate - Effective Rate | Fixed Rate - Effective Rate |
|---|
| Government employees/Defence personnel with salary account with Bank of Baroda | 10.15%-10.65% p.a. | 10.95%-11.45% p.a. |
| Gold: Eligible employees with a salary account with Bank of Baroda | 10.65%-15.50% p.a. | 11.20%-14.05% p.a. |
| Silver: Eligible employees with a salary account with another bank | 11.15%-15.50% p.a. | 11.70%-14.05% p.a. |
| Category B: Private/Public company employees, Trust/LLP employees, insurance agents, self-employed professionals and business persons with an account relationship with Bank of Baroda | 11.90%-15.50% p.a. | 12.75%-15.00% p.a. |
| Category A: Private/Public company employees, Trust/LLP employees, insurance agents, self-employed professionals and business persons with an account relationship with another bank | 13.90%-17.50% p.a. | 14.70%-18.00% p.a. |
Note: Bank of Baroda’s 1-year MCLR is 8.75% p.a., effective from 12 August 2026. The 1 Year MCLR + Spread rate is determined by adding the applicable spread to the 1-year MCLR. The spread varies based on the borrower category and CIBIL score.
What are the Eligibility Criteria for BoB Personal Loan?
To be eligible for a Bank of Baroda Personal Loan, applicants must meet the following criteria:
- Employment: You should work with the Central/State Government, autonomous entities, PSUs, joint ventures, public limited firms, MNCs, educational institutes, private limited companies, trusts, or LLPs. Insurance agents, self-employed professionals, and self-employed business people may also qualify for loans.
- Work Experience: Applicants who get salary should have a minimum of 1 year of continuous service. Insurance agents require a minimum of 2 years of business experience, and self-employed professionals and business people require a minimum of 1 year of stable business.
- Age Criteria: Minimum age should be 21 years. For salaried applicants, the sum of their age and repayment period should not cross the retirement age or 60 years, whichever is less. For non-salaried applicants, the sum of their age and repayment period should not exceed 65 years.
- Nationality: Staff members and NRI/PIO applicants are not eligible under the above-mentioned criteria.
- Co-Applicant: Applications will be entertained individually; co-applicants will not be allowed.
- Loan Amount: The maximum loan limit is ₹20 lakh depending upon the type of applicant and account relationship with the Bank. Minimum loan amount is ₹1 lakh in Metro and Urban branches and ₹50,000 in Rural and Semi-Urban branches.
- Account Relationship: For a loan of ₹2 lakhs and below, certain categories of applicants may have a satisfactory account relationship with another bank for at least 6 months. For a loan amount above ₹2 lakh, satisfactory account relationship with Bank of Baroda for at least 6 months will be required for certain categories of borrowers.
- Repayment Capacity: Permissible FOIR is between 40% and 75% of Gross Monthly Income (GMI), depending upon the category of applicant and salary account relationship.
- Repayment Tenure: Repayment period will vary between 48 and 84 months, depending upon the applicant's category and account relationship.
What are the Documents Required for BoB Personal Loan?
Applicants need to submit the following documents when applying for a Baroda Personal Loan:
| Document Category | Documents Required |
|---|
| Application Form | Duly filled loan application form, 3 passport-size photographs, and Form 135 detailing the applicant's assets and liabilities |
| Banking Documents | Bank statement for the last 6 months and updated passbook |
| Proof of Residence | Valid passport, Voter ID, driving licence, postpaid utility bill, updated passbook/bank statement or registered rent agreement |
| Proof of Identity | PAN Card, Aadhaar Card, Indian passport, Voter ID, driving licence, employee ID card or professional ID/certificate of practice with photograph |
| Salaried Applicants | Salary slips for the last 3 months and bank account statement for the last 6 months |
| Self-Employed Applicants | Balance sheet, Profit & Loss statement and income computation for the last 1 year |
| Income Tax Documents | ITR for the last 1 year, Form 26AS, TRACES documents, IT assessment/clearance certificate, income tax challans or TDS certificate (Form 16A) |
| Business Proof | Gumasta licence, registration certificate, service tax registration or other valid business registration documents |
Key Benefits of Bank of Baroda Personal Loan
Here are the key benefits of a Baroda Personal Loan:
- Emergency Funds: Assists in meeting any financial emergencies.
- Advantage over Credit Card: It is another form of alternative to using credit cards in case of any higher financial requirement.
- Not Bound by Credit Limitations: Offers flexibility in borrowing on the basis of eligibility.
- Different Modes of Payment: Loan can be availed either by cheque, bank draft, or in cash.
- Extended Payment Schedule: Provides an extended payment schedule depending upon eligibility.
- Flexible Nature: The loan money can be used for different personal financial needs except for speculation.
- Higher Loan Limit: Eligible individuals can borrow as high as ₹20 Lakh depending upon their occupation and relationship with the bank.
How to Calculate EMI of BoB Personal Loan?
Consider a ₹2 lakh Bank of Baroda Personal Loan for a tenure of 24 months. The EMI varies based on the applicable interest rate for each borrower category. The monthly EMI can be calculated using the standard reducing-balance EMI formula:
EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1]
Where:
P = Principal loan amount
r = Monthly interest rate (annual interest rate ÷ 12 ÷ 100)
n = Loan tenure in months |
1. Government/Defence Category
Here is the EMI calculation for a ₹2 lakh Bank of Baroda Personal Loan at an interest rate of 10.15% p.a. for a tenure of 24 months:
- Interest rate: 10.15% p.a.
- Monthly interest rate:
R = 10.15 ÷ 12 ÷ 100 = 0.0084583
- Substituting the values:
EMI = [2,00,000 × 0.0084583 × (1 + 0.0084583)²⁴] ÷ [(1 + 0.0084583)²⁴ − 1]
EMI ≈ ₹9,242.84* per month
- Total repayment over 24 months:
₹9,242.84 × 24 = ₹2,21,828.16*
- Approximate total interest:
₹2,21,828.16 − ₹2,00,000 = ₹21,828.16*
2. Gold Category
Here is the EMI calculation for a ₹2 lakh Bank of Baroda Personal Loan at an interest rate of 10.65% p.a. for a tenure of 24 months:
- Interest rate: 10.65% p.a.
- Monthly interest rate:
R = 10.65 ÷ 12 ÷ 100 = 0.008875
- Substituting the values:
EMI = [2,00,000 × 0.008875 × (1 + 0.008875)²⁴] ÷ [(1 + 0.008875)²⁴ − 1]
EMI ≈ ₹9,289.10* per month
- Total repayment:
₹9,289.10 × 24 = ₹2,22,938.40*
- Approximate total interest:
₹2,22,938.40 − ₹2,00,000 = ₹22,938.40*
3. Silver
Here is the EMI calculation for a ₹2 lakh Bank of Baroda Personal Loan at an interest rate of 11.15% p.a. for a tenure of 24 months:
- Interest rate: 11.15% p.a.
- Monthly interest rate: R = 11.15 ÷ 12 ÷ 100 = 0.0092917
- Substituting the values:
EMI = [2,00,000 × 0.0092917 × (1 + 0.0092917)²⁴] ÷ [(1 + 0.0092917)²⁴ − 1]
EMI ≈ ₹9,335.50* per month
- Total repayment:
₹9,335.50 × 24 = ₹2,24,052.00*
- Approximate total interest:
₹2,24,052.00 − ₹2,00,000 = ₹24,052.00*
4. Category B
Here is the EMI calculation for a ₹2 lakh Bank of Baroda Personal Loan at an interest rate of 11.90% p.a. for a tenure of 24 months:
- Interest rate: 11.90% p.a.
- Monthly interest rate:
R = 11.90 ÷ 12 ÷ 100 = 0.0099167
- Substituting the values:
EMI = [2,00,000 × 0.0099167 × (1 + 0.0099167)²⁴] ÷ [(1 + 0.0099167)²⁴ − 1]
EMI ≈ ₹9,405.36* per month
- Total repayment:
₹9,405.36 × 24 = ₹2,25,728.64*
- Approximate total interest:
₹2,25,728.64 − ₹2,00,000 = ₹25,728.64*
5. Category A
Here is the EMI calculation for a ₹2 lakh Bank of Baroda Personal Loan at an interest rate of 13.90% p.a. for a tenure of 24 months:
- Interest rate: 13.90% p.a.
- Monthly interest rate:
R = 13.90 ÷ 12 ÷ 100 = 0.0115833
- Substituting the values:
EMI = [2,00,000 × 0.0115833 × (1 + 0.0115833)²⁴] ÷ [(1 + 0.0115833)²⁴ − 1]
EMI ≈ ₹9,593.13* per month
- Total repayment:
₹9,593.13 × 24 = ₹2,30,235.12*
- Approximate total interest:
₹2,30,235.12 − ₹2,00,000 = ₹30,235.12*
Final Calculation:
| BoB Personal Loan Category | Rate Used | EMI for ₹2 lakh / 24 months | Approx. Interest |
|---|
| Government/Defence | 10.15% | ₹9,242.84* | ₹21,828.16* |
| Gold | 10.65% | ₹9,289.10* | ₹22,938.40* |
| Category C / Silver | 11.15% | ₹9,335.50* | ₹24,052.00* |
| Category B | 11.90% | ₹9,405.36* | ₹25,728.64* |
| Category A | 13.90% | ₹9,593.13* | ₹30,235.12* |
Note: These calculations use the lower end of each category's floating-rate range and assume a ₹2 lakh loan for 24 months. Bank of Baroda states that the applicable rate is linked to the borrower's CIBIL score, so the actual EMI can be higher if a higher rate within the applicable range is offered.
Other Personal Loan Products of BoB
Here are the key BoB personal loan products, along with their features, eligibility criteria, interest rates, and application process for different customer requirements:
1. Baroda Loan to Pensioners
Baroda Loan for Pensioners is a type of personal loan scheme that is meant for pensioners and family pensioners who receive a pension from branches of Bank of Baroda. The loan can be utilized for various purposes other than speculation. Depending on the age and pensioner group of eligible borrowers, loan limits and repayments up to 60 months are possible.
Eligibility Criteria:
- Eligible borrowers: Pensioners and family pensioners receiving their pension through Bank of Baroda branches or eligible Treasury/DPDO arrangements.
- Age: Applicants must be between 21 and 75 years.
- Co-applicant: Co-applicants are not permitted.
- Loan amount: Up to ₹8 lakh for regular pensioners and ₹3 lakh for family pensioners, subject to age-based limits.
- Repayment capacity: Total monthly deductions, including existing and proposed EMIs, must not exceed 60% of the monthly pension.
- Repayment tenure: Up to 60 months for those aged up to 70 years and 36 months for those above 70 years.
- Account relationship: The pension should have been credited through the branch for at least 3 months, with satisfactory account conduct.
Interest Rates and Other Charges:
Here are the key interest rates and charges for the Baroda Loan to Pensioners:
- Digital applications: BRLLR + SP + 2.75%, with an effective interest rate of 10.90% p.a.
- Non-digital applications: BRLLR + SP + 3.25%, with an effective interest rate of 11.40% p.a.
- Retired Bank of Baroda employees/family pensioners: BRLLR + SP + 0.60%, with an effective interest rate of 8.75% p.a.
- Processing fee: Nil for Bank of Baroda pensioners/family pensioners
- Foreclosure charges: Nil.
- Penal interest: 2% on the outstanding loan amount.
Baroda Loan to Pensioners: Documents Required
Here is the list of documents required to apply for the Baroda Loan to Pensioners:
- Duly filled loan application form
- 3 passport-size photographs
- Form 135 containing details of assets and liabilities
- Proof of residence, such as:
- Valid passport
- Voter ID card
- Driving licence
- Post-paid utility bill (gas or electricity)
- Updated passbook or bank account statement
- Registered rent agreement
- Proof of identity, such as:
- PAN card
- Aadhaar card
- Valid Indian passport
- Voter ID card
- Driving licence
- Employee ID card issued by the government, defence, or reputed corporate organisation
- Identity document or certificate of practice with photograph issued by professional bodies such as ICAI, ICWA, or ICFAI
- Pension details, including Pension Payment Order (PPO) number and other relevant pension information
How To Avail?
- Online: Visit the Bank of Baroda Personal Loan Portal or use the bob World mobile app to apply digitally.
- Offline: Download and complete the loan application form, then submit it along with the required KYC and PPO documents at your home branch.
- By Phone: Call 1800 5700 or 1800 5000 to speak with a Bank of Baroda representative for assistance with the application process.
2. Baroda Digital Personal Loan
The Baroda Digital Personal Loan offers a convenient borrowing experience with a paperless application process and direct disbursement. It provides competitive interest rates and flexible terms to meet various financial needs. Borrowers can also benefit from no prepayment charges on floating-rate loans, making it a convenient option for managing personal expenses.
Eligibility Criteria:
Here are the key eligibility criteria for the Baroda Digital Personal Loan:
- Salaried individuals can apply for the Baroda Digital Personal Loan.
- Self-employed individuals, including doctors, engineers, architects, interior designers, technology management consultants, practising Company Secretaries, insurance agents, and self-employed business persons, are eligible.
- NRIs and SHGs are not eligible for the loan.
- Co-applicants are not permitted under this loan scheme.
Interest Rates and Other Charges:
Here are the key interest rates and charges for the Baroda Digital Personal Loan:
- Fixed interest rate: Ranges from 12.75% to 18.10% p.a., based on the applicant’s CIBIL score and internal credit score.
- Floating interest rate: Ranges from 11.65% to 17.00% p.a., based on the applicant’s CIBIL score and internal credit score.
- Processing fee: 2% of the loan amount + applicable GST, subject to a minimum of ₹1,000 + GST and a maximum of ₹10,000 + GST.
- Stamp duty: Applicable as per the respective state’s stamp duty laws.
- Penal charges: A 2% p.a. charge may apply on overdue amounts for delayed payment of instalments, interest, or service charges.
- Other penal charges: A 2% p.a. charge may apply during the default period for non-submission of required documents, non-compliance with security requirements, or other material breaches of sanction terms.
Baroda Digital Personal Loan: Documents Required
Here are the documents and requirements needed to apply for the Baroda Digital Personal Loan:
- Valid mobile number and PAN card
- Aadhaar number for OTP-based e-Stamping and e-Sign
- Net banking credentials or digitally generated bank statements for the last 6 completed months
- For self-employed applicants, ITR e-filing credentials or digital ITR returns for the last 2 years
- For self-employed applicants, GST portal credentials or digital GST returns for the last 1 year (optional)
- Webcam for capturing photographs and completing Video KYC
- Bank statements and ITRs must be digitally generated or downloaded from the respective platforms in the prescribed format.
How to Avail?
- Start Application: Visit the Bank of Baroda Digital Personal Loan page and begin the application.
- Verify Mobile: Enter your mobile number and verify it using the OTP.
- Provide Details: Enter your PAN, Aadhaar, customer ID, or savings account details.
- Enter Loan Details: Select the required loan amount, tenure, and purpose.
- Submit Financial Details: Provide employment and income details for verification.
- Complete Video KYC: Complete the online Video KYC using a webcam.
- E-Sign & Disbursement: Accept the sanction terms, complete e-Sign and repayment mandate setup, and receive the loan amount in your account.
3. Pre-Approved Personal Loan
The Bank of Baroda Pre-Approved Personal Loan is an instant digital loan facility offered to eligible existing customers. It enables borrowers to access funds quickly without going through the lengthy application process. Eligible customers can check their offers through digital banking channels, accept the terms online, complete verification, and receive funds directly in their account.
Eligibility:
Here are the key eligibility criteria for a Bank of Baroda Pre-Approved Personal Loan:
- Applicants should have an excellent credit score and a stable monthly income.
- Existing Bank of Baroda customers with a long-standing banking relationship and a sound financial record may be eligible.
- Maintaining sufficient account balances can improve the chances of receiving a pre-approved loan offer.
- Customers can check their pre-approved loan eligibility through mobile banking, internet banking, or by contacting their relationship manager.
Baroda Pre-Approved Personal Loan: Documents Required
Since the loan is offered to existing customers, documents are generally not required, as the bank already has the customer's KYC information. However, depending on the application, the bank may ask for:
- Income proof
- KYC documents such as Aadhaar, PAN, or Voter ID
- Cancelled cheque
How to Avail?
- Check your eligibility: Log in to Bank of Baroda's mobile or internet banking platform to check whether you have a pre-approved loan offer.
- Review the offer: Check the pre-set loan amount and applicable terms offered by the bank.
- Apply online: Accept the pre-approved loan offer through the available digital banking platform.
- Complete verification: Provide any additional documents requested by the bank, if applicable.
- Receive the funds: Once approved, the loan amount is credited to your savings account, generally within minutes
Bandhan Personal Loan Customer Care Number & Contact Details
For personal loan-related assistance, customers can contact Bandhan Bank through the following channels:
- Toll-Free Number (Domestic): 1800 5700 / 1800 5000
- Customer Care Number: +91 79-66296009 for domestic customers
- Branch Support: Visit your nearest Bandhan Bank branch for assistance.
- BC Agent: Contact a Bandhan Bank BC Agent for support.
How Can NoBroker Help You with Personal Loans?
If you do not meet BoB’s employment or minimum salary requirements, NoBroker InstaCash provides an alternative with flexible eligibility and fully digital processing.
Features
Flexible loan amounts, longer repayment options, and digital processing provide an alternative to BoB’s Salary Package Account-based requirements.
- Loan amount: ₹5,000-₹10,00,000
- Tenure: 3 months- 60 months
- Application: Fully digital, with no branch visit
- Disbursal: Funds disbursed shortly after approval, subject to approval and verification
Eligibility
The facility is available to salaried and self-employed applicants who meet the specified credit score and age requirements.
- Employment: Salaried or self-employed
- Credit score: CIBIL above 700 or Experian above 750
- Age: 21-65 years
Rates & Fees
NoBroker InstaCash offers flexible borrowing options and convenient digital processing. Here are the key rates and fees:
- Interest rate (APR): 12.99%-29.99% p.a.
- Processing fee: 2%-4% of the loan amount + GST
- Rate comparison: Rates typically run higher than BoB’s 10.00%-15.00% p.a. range.
How to Apply?
The entire process can be completed digitally, from registration and eligibility checks to e-signing and disbursal.
- Download the app or visit the NoBroker InstaCash page.
- Register with basic KYC and employment details.
- Check your eligibility and view your loan offer.
- Complete e-signing digitally.
- Receive the disbursed amount.
Disclaimer: NoBroker facilitates NB InstaCash - the loan itself is provided by our lending partners, not NoBroker directly. Read our privacy policy →
Frequently Asked Questions
Q. Is Bank of Baroda Personal Loan secured or unsecured? Ans: A Bank of Baroda Personal Loan is an unsecured loan, meaning you can borrow money without providing any collateral or security like property, gold, or fixed deposits. Because no physical asset backs the loan, the bank approves your application based entirely on your trustworthiness, which they evaluate using your credit score, income history, and job stability.
Q. Can I pre-close my Bank of Baroda Personal Loan? Ans: Yes, you can pre-close the loan, but prepayment charges may apply depending on the loan terms.
Q. Does Bank of Baroda offer a pre-approved Personal Loan? Ans: Yes, eligible existing customers can receive pre-approved personal loan offers based on their financial profile and banking relationship.
Q. Can I get a Bank of Baroda Personal Loan without a salary account? Ans: Yes, certain eligible borrowers can apply even when their salary account is maintained with another bank
Q. Does Bank of Baroda charge a penalty for delayed EMI payments? Ans: Yes, a penal charge may apply when borrowers delay EMI payments, according to the applicable loan terms
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