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Bank Of Baroda Personal Loan Interest Rate

Bank Of Baroda offers personal loans at attractive interest rates, flexible repayment tenures, and minimum processing charges. Bank Of Baroda personal loan interest rates will vary with the loan amount, loan tenure, and some other factors as well.

Bank of Baroda

Bank of Baroda is a government public sector bank, having its headquarters in Vadodara, Gujarat. They have a strong domestic presence that is supported by self-service channels. The bank has around 8200 branches with over 1200 ATMs and 20,000 business correspondents. The bank also has a strong international presence with a network of 100 branches.

Bank of Baroda offers personal loans bank-of-baroda-personal-loan/to its customers from Rs . 50,000 to Rs. 20 Lakhs. Interest rates for these personal loans are 10.90% for a tenure of up to 7 years. The bank also provides pension loans to senior citizens at the rate of 9.50% p.a. These personal loans are given based on competitive interest rates with minimal documentation.

Latest Bank of Baroda Personal Loan Interest Rates 2025

The following table lists the details of the Bank of Baroda Personal Loan interest rates in 2025.

Features	Explanation
Loan Amount	Rs.50,000 to 20 Lakhs
Tenure	Up to 84 Months
Interest Rates	10.90% p.a to 18.30% p.a
Age	21 Years to 60 Years for Salaried Individuals 21 Years to 65 Years for Non-Salaried Individuals
Processing Charges	1% – 2% of the loan amount + GST
Penal Interest	2% of the outstanding loan amount

The following table clearly encapsulates the list of profiles that are given personal loans and their correlating ROI.

Customer Profile	Interest Charges - Fixed	Interest Charges - Floating
Govt. Employees/Defense Personnel	Interest Charges - Fixed	11.25% to 11.75%	10.90% to 11.40%
Gold: Employees of Central/State/PSUs/Autonomous Bodies/A listed public companies/National Reputed educational institutions/Joint sector undertaking having salary account with BOB	11.40% to 14.35%	11.40% to 16.25%
Silver: Employees mentioned in Gold having salary account with other banks	12.00% to 14.35%	11.90% to 16.25%
Employee of Public/Private trust, LLP, Insurance Agent, Self-employed persons, and business professionals having account relations with BOB	13.05% to 15.30%	12.65% to 16.25%
Employee of Public/Private trust, LLP, Insurance Agent, Self-employed persons, and business professionals having account relations with other banks	15.00% to 18.30%	14.65% to 18.25%

Bank of Baroda Other Personal Loan Variants

Other Variants	Charges
Baroda Loan to Pensioners - Digital	11.65%
Baroda Loan to Pensioners - Non-Digital	12.15%
Retired BOB Pensioners	9.50%
Digital Personal Loan - Fixed	13.05% to 18.40%
Digital Personal Loan - Floating	12.40% to 17.75%
Pre-approved Personal Loan - Fixed	13.05% to 16.55%
Pre-approved Personal Loan - Floating	12.40% to 15.90%

Key Factors That Affect Bank of Baroda Personal Loan Interest Rate

When banks give a personal loan, they take the loan amount back along with interest. This amount is calculated in the form of monthly EMIs, either as a fixed or floating rate of interest. An ideal personal loan is one with the lowest interest rate, as this reduces the overall amount paid back to the lender.

The following are some of the key factors that affect the Bank of Baroda Personal Loan Interest rates. They are:

Age:

The interest rate for your loan tends to be higher when you are close to retirement. The risk of you repaying the loan is higher.

Monthly Income:

Lender always wants customers who have secured employment with regular income. This ensures they receive their repayment on time.

Credit Score:

Your credit score is a measure of your financial responsibility. If you have a good credit score, the lender will have the trust that you are handling your credit responsibly.

Relationship with Bank:

Individuals typically obtain personal loans only from lenders with whom they have an account or credit card. The reason is that they have maintained trustworthiness by keeping their accounts and paying their credit card bills on time. The lender will consider reducing the interest rate.

Employer’s Reputation: Customers working in a reputable organization are a safe bet for lenders, as your repayment of personal loans is assured.

DTI Ratio:

Lenders would like to find out whether you have any existing loans and how much will be deducted from your monthly salary for these loans. This is called the DTI ratio. An ideal DTI would be 20% to 40% of your monthly salary.

Loan Tenure:

The tenure of the loan influences the interest rate of the loan. The longer the tenure, the higher the rate of interest for your loan.

Borrower’s Location: In case you have your residence in an urban or semi-urban area. This also has an impact on the interest rate.

Bank of Baroda Personal Loan EMI Calculation Explained

When you go for the Bank of Baroda personal loan, your repayments are done through the Equated Monthly Installments (EMIs). This includes both the principal and the interest amount that are spread evenly throughout the tenure of the loan. The EMI that you pay might be fixed or variable, depending on the type of interest you opted for at the time of procuring the loan.

A standard formula is used for EMI calculation of the loan amount, interest rate, and tenure, thereby determining the EMI amount.

EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]

Let us find the EMI calculation with the help of a simple example.

For example, you have taken a personal loan of Rs. 5,00,000 for a tenure of 5 years at the rate of 10.90%

Then the calculation needs to be deciphered as follows:

P = Rs.5,00,000

N = 12 x5 = 60 Months

R = 10.90/100 = 0.1090

Your Monthly EMI = [5,00,000 X 0.1090 X (1 + 0.1090)^60] / [(1 + 0.1090)^60 – 1] = Rs. 10,846

Processing Fees & Charges

We are trying to break down the list of expenses that are charged as fees and other charges that come with personal loans. They are:

Prepayment	3% of the amount paid during the first 3 months of the loan tenure
Late payment Charges	2% of the overdue amount
Documentation Charges	Rs.150 per duplicate statement
EMI Bounce Charges	Rs.1500 per bounce charges
Loan Cancellation Charges	Interest from the disbursement date to the cancellation date
Duplicate NOC Charges	Rs.150

Bank of Baroda Personal Loan Interest Rate Based on Credit Score

Your credit score plays a predominant role when it comes to getting a personal loan. Bank of Baroda offers personal loans with interest rates based on the individual's credit score. A higher credit score will help you get a lower rate of interest. A higher credit score is an indicator that you have the habit of handling credit responsibly. The bank assesses your repayment behavior based on your credit score. Maintaining a clean credit profile helps you secure personal loans on better terms and conditions. BOB also checks your Debt-to-Income ratio to ensure you can handle the personal loan before awarding one. Regularly checking your credit report is always a prudent practice, as it helps you catch and fix errors that can impact your credit score.

Bank of Baroda Toll-Free Numbers

What follows is the list of toll-free numbers that customers can contact in case they get stuck with the BOB personal loan process. They are:

Toll-Free Numbers (Domestic): 1800 5700, 1800 5000

Toll-Free Numbers (Domestic Customers Calling from Abroad): 091 79 66296009

Disclaimer: This page includes information that has been compiled from many sources and is only offered for informational purposes. Given that this type of data might change over time, we cannot guarantee that the information supplied or included within it is accurate. It is anticipated that the user will confirm with the relevant source before making any choices or taking any actions.

FAQs on Bank of Baroda Personal Loan Interest Rate

1. What is the current interest rate of the BOB personal loan?

The current interest rate for the Bank of Baroda personal loan is 10.90% to 18.30% p.a for a tenure of 7 years.

2. How is the interest calculated for the Bank of Baroda Personal Loan?

The interest for the Bank of Baroda Personal Loan is calculated on the reducing balance method. This means the interest is charged only on the outstanding balance amount of the loan.

3. Is the BOB personal loan interest rate fixed or floating?

Bank of Baroda offers both Fixed and Floating rates of interest to its customers. When you take a Bank of Baroda personal loan at a fixed rate of interest, the interest amount might be higher initially. On the contrary, opting for a floating rate of interest will result in a minimal interest amount, thereby reducing the overall cost of the loan.

4. How can I reduce my interest rate in Bank of Baroda?

5. What is the EMI for a ₹5 lakh loan in Bank of Baroda?

The EMI is based on the interest and loan tenure associated with the loan. For a personal loan of Rs. 5,00,000 over 5 years at an 11% interest rate, the EMI is approximately Rs. 10,870 per month.

6. Are there any processing fees associated with the Bank of Baroda Personal loan?

Yes. Bank of Baroda charges a processing fee of 1% to 2% along with GST for its loan services from its customers.

7. How does my credit score help me in securing a low-interest personal loan?

A higher credit score is an indicator that you are responsible enough to handle credit. The bank prefers such customers as they fall into the low-risk category.