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Bank Of Baroda Personal Loan Details With Interest Rate

Kindly Check Complete Details For Bank Of Baroda Personal Loan.


Bank Of Baroda
Personal Loan
11.35%-16.35%
1000 - 10,000
1Lac - 10Lac
upto 84 mnths
Full Details for Bank Of Baroda Personal Loan

Purpose

For any purpose other than speculation

Eligible Borrowers

  • Employees of Central / State Govt. / Autonomous Bodies/ Public / Joint Sector Undertakings, Public Limited Co. / MNCs & Educational Institutions with minimum continuous service for 1 year
  • Employees of Proprietorship, Partnership firms, Private Limited companies, Trust - with minimum continuous service for 1 year
  • Insurance Agents- doing business for minimum last -2- years
  • Self Employed Professionals (Doctor, Engineer, Architect, Interior Designers, Tech. and Management Consultants, Practicing Company secretaries etc) -- with minimum 1 year stable business.
  • Self Employed Business persons - with minimum 1 year stable business.

Account Relationship

Loan amount upto Rs. 2.00 Lakhs:

  • Satisfactory account relationship with our Bank or any other Bank for atleast -6-onths

Loan amount above Rs.2.00 Lakhs:

  • Satisfactory account relationship with our Bank for at least -6- months.
  • In case of Employees of Proprietorship, Partnership firms, Private Limited companies, Trust Salary account of the employee should be maintained with our Bank for the last -6- months.
  • In case of Insurance Agents The Commission for the minimum last -6- months to be credited to the account with us

Age

Minimum : 21 Years

Maximum :

  • For Salaried Persons: Age of Borrower plus repayment period should not exceed retirement age or 60 years whichever is lower.
  • For non-salaried Persons: Age of Borrower plus repayment period should not exceed 65 years

Loan Limit

Maximum:
  • Metro & Urban : Rs. 10.00 Lakhs
  • Semi-Urban & Rural : Rs.5.00 Lakhs

Minimum:

  • Metro & Urban : Rs. 1.00 Lakh
  • Semi-Urban & Rural : Rs.50,000/-

Repayment

  • Maximum -48- months (in equated monthly installments)

Repayment Capacity

  • GMI less than Rs. 75,000 : 40% of GMI
  • GMI Rs. 75,000 and above but less than Rs.2,00,000 : 50% of GMI
  • GMI Rs. 2,00,000 and above : 60% of GMI

Penal interest

  • Penal interest @2% shall be levied on overdue amount

Penalty for Prepayment

  • Pre-closure within-6- months : 4% on the outstanding balance as per original repayment / EMI schedule
  • Pre-closure after 6 months: Nil

RATE OF INTEREST FOR RETAIL LOANS BASED ON MARGINAL COST OF FUNDS BASED LENDING RATE (MCLR) W.E.F. 01.04.2016.

In terms of RBI guidelines, effective from 01.04.2016, pricing of all rupee loans and advances linked to Marginal Cost of Funds Based Lending Rate (MCLR).

Rate of Interest under all Retail Loans are linked to 1 year MCLR from 1st April, 2016.

Existing borrowers of the Bank shall have an option to switch over from Base Rate system to interest rates linked to MCLR (other than Fixed Rate Loans). Borrowers willing to switch over to the MCLR based interest rate may contact the respective branch.

Product

Rate of Interest

1.

BARODA HOME LOAN &
BARODA HOME IMPROVEMENT LOAN

From One year MCLR + Strategic Premium
to
One year MCLR + Strategic Premium + 1.00%

(As per Risk Rating of the applicant/s.)

Baroda Home Loan Advantage

Upto Rs 75.00 Lacs : Normal Home Loan Rate
Above Rs 75.00 Lacs: 0.25% over Normal Home Loan Rate

Baroda CRE Home Loan

0.25% over Normal Home Loan Rate

Baroda CRE Home Loan (Advantage)

Upto Rs 75Lacs : 0.25% over Normal Home Loan Rate
Above Rs 75 Lacs : 0.50% over Normal Home Loan Rate

Baroda Additional Assured Advance (AAA)

One year MCLR + Strategic Premium + 1.50%

2.

BARODA MORTGAGE LOAN

From One year MCLR + Strategy Premium+1.75%
To One year MCLR+ Strategic Premium+3.50%

3.

BARODA ASHRAY (REVERSE MORTGAGE LOAN)

One year MCLR + Strategic Premium + 1.75%

4.

BARODA TRADERS LOAN:

Traders Loan-Irrespective of loan limit / facility (OD / TL)

From One year MCLR + Strategy Premium+1.75%
To One year MCLR+ Strategic Premium+3.50%

Traders Loan to Commission Agents (Arthias)

One year MCLR + Strategy Premium+2.00%

5.

BARODA LOAN TO DOCTORS

Up to Rs 2.00 Lacs : One year MCLR + Strategic Premium + 3.00%
Above Rs 2.00 Lacs : One year MCLR + Strategic Premium + 2.50%

6.

Baroda Vidya (For School Education from Nursery to XII) & Baroda Gyan (For Higher Studies in India)

Up to Rs 7.50 Lacs : One year MCLR + Strategic Premium + 2.50%
Above Rs 7.50 Lacs : One year MCLR + Strategic Premium + 1.75%

Baroda Education Loan to Students of Premier Institutions
(For Studies in India)

For List-A Institutions :
Upto Rs 15 Lacs : One year MCLR + Strategic Premium + 0.25%
Above Rs 15 Lacs: One year MCLR + Strategic Premium

For List-B Institutions:
Upto Rs 7.50 Lacs : One year MCLR + Strategic Premium + 0.75%
Above Rs 7.50 Lacs: One year MCLR + Strategic Premium + 0.50%

For IIM Ahmadabad, Kolkata, Bangalore and XLRI Jamshedpur

One year MCLR + Strategic Premium

Baroda Scholar
(For Studies abroad)

List A Institute and List B Institutes:
One year MCLR+ Strategic Premium+ 1.00%
Other Institutes not specified in List A and List B
: One year MCLR+ Strategic Premium+ 2.50%

Baroda Career Development

One year MCLR + Strategic Premium + 2.75%

Baroda Skill Loan Scheme

One year MCLR + Strategic Premium + 1.50%

7.

BARODA AUTO LOAN

Car Loan:

From One year MCLR + Strategic Premium + 0.25%
to
One year MCLR + Strategic Premium +2.00%

(As per Risk Rating of the applicant/s.)

Car Loan to Corporate: One year MCLR + Strategic Premium + 0.25%

Two Wheeler Loan: One year MCLR + Strategic Premium + 4.00%

8.

BARODA ADVANCE AGAINST SECURITIES

Against NSC / KVP

Loan:

One year MCLR + Strategic Premium + 3.50%
or 0.50% over NSC / KVP rate, whichever is higher

Overdraft:

One year MCLR + Strategic Premium + 4.00%
or 0.75% over NSC / KVP, whichever is higher

Against Life Insurance Policy / Relief Bonds

Loan:

One year MCLR + Strategic Premium + 3.50%

Overdraft:

One year MCLR + Strategic Premium + 4.00%

Advance Against Gold Ornament / Jewellery/Gold Coins

One year MCLR + Strategic Premium + 3.00%

9.

BARODA PERSONAL LOAN

  1. Baroda Personal Loan

One year MCLR + Strategic Premium + 4.50%

  1. Baroda Premium Personal Loan

Category A: MCLR + Strategic Premium + 3.00%
Category B: MCLR + Strategic Premium + 4.00%

  1. Loan for Earnest Money Deposit

One year MCLR + 3.25%

Baroda Home Loan Suraksha Personal Loan

As applicable to Home Loan account for which funding of Insurance Premium amount

10.

BARODA LOAN TO PENSIONERS

One year MCLR + Strategic Premium + 2.00%

For Retired Bank of Baroda/ their Family pensioners:
One year MCLR + Strategic Premium

11.

Baroda Loan for Subscription to Public Issue/IPO

One year MCLR + Strategic Premium + 3.75%

12.

LOAN/OD AGAINST BANKS OWN DEPOSITS (LABOD/ODBOD):

For Public/ Senior Citizen/Staff (against Resident Deposits)

1.00% over Interest Rate on Fixed Deposit

Advance Against the securities of third party FDRs
(against Resident Deposits)-

1.00% over Deposit rate
or One year MCLR + Strategic Premium + 0.25% whichever is higher.

13.

Baroda Loan Against future Rent Receivables

For Landlords of BOB Branch Premises
One Year MCLR+ Strategic Premium+1.25%
For others
One Year MCLR+ Strategic Premium+3.25%


PRIORITY SECTOR

Sr. No. Parameter Interest rate (per annum) w.e.f. 01.08.2013
1. Direct Agriculture (Production Credit & Investment Credit*)
1.1 Limit up to Rs 3 lacs 7.00% p.a. (Fixed) : Subject to Govt. of India providing subvention to Bank on such advances.

Otherwise as mentioned below :

Base Rate .
1.2

Above Rs 3 lacs and
less than Rs 25 lacs

Base Rate+1.25%

1.3

Rs 25 lacs and above

Base Rate+2.00%

*Investment Credit will attract tenure premium as mentioned separately
2 Indirect Agriculture/Other Priority Sector
(Other than housing Loans, Retail Lending Products & MSE)
2.1

Loans up to Rs 3 lacs

Base Rate+0.50%

2.2

Above Rs 3 lacs and
less than Rs 25 lacs

Base Rate+1.50%
(The pricing is delinked from credit rating. However, the credit rating is to be carried out to ascertain the risk profile of the portfolio.)

2.3

Rs 25 lacs and above.

Ranging from Base Rate+1.50% to Base Rate + 3.50% . for loans depending upon credit rating of individual borrower irrespective of the tenure as mentioned below.

2.5.1: For Indirect Agriculture: Rs 25.00 lacs & above:
2 CR 1

Base Rate+1.50% . at present.

2.1.1 CR 2

Base Rate+1.75% . at present.

2.1.2 CR 3

Base Rate+2.00% . at present.

2.1.3

CR 4

Base Rate+2.50% . at present.

CR 5

Base Rate+2.75% . at present.

2.1.4 CR 6, 7, 8, 9 & 10

Base Rate+3.25% . at present.

2.1.4.1 For Other Priority Sector (For advances other than Agriculture/Retail/SME Banking) : Rs 25.00 lacs& above:
2.1.4.1.1 CR 1 Base Rate+1.90%. at present.
2.1.4.1.2 CR 2 Base Rate+2.25% . at present.
2.1.4.1.3 CR 3 Base Rate+2.25% . at present.
2.1.4.1.4 CR 4 Base Rate+2.75%. at present.
2.1.4.1.5 CR 5 Base Rate+3.00% . at present.
2.1.4.1.6 CR 6, 7, 8, 9 & 10 Base Rate+3.50%. at present.
3 Advances to special category of borrowers/activities/purposes:
Sr.No.

Parameter

Interest Rates

3.1 Finance to PACS/ FSS/ LAMPS for on lending to farmers irrespective of loan limit / purpose. 7.00% p.a. (Fixed) *Subject to Govt. of India providing subvention to Banks on such advances.
Otherwise, rate will be:
Base Rate+0.50%
3.2 Finance to SHGs/JLGs
  • Upto Rs 3 lacs as applicable to Agriculture / Other Priority Sector advances as the case may be.

Above Rs 3 lacs - Base Rate+1.00%

3.3

Advances for construction of Godowns designed to store agriculture produce / products

Base Rate+0.50%

3.4.1

Advances against warehouse receipts to farmers up to Rs 50.00 lacs @

Base Rate+1.00%

3.4.2

Advances against ware house receipts to other than farmers @

Base Rate+2.00%

3.5

Loans for purchase of four wheelers to farmers

Rate of interest applicable for Baroda car Loan minus 0.25% subject to minimum ROI of Base Rate

3.6

Financing construction
of farm house cum dwelling unit to farmers

Rate of interest applicable for housing loan scheme of our Bank.

3.7

Advances for construction & running of cold storages designed to store agriculture produce/ products

Base Rate+2.00%

3.8

Advances for poultry units

Base Rate+1.00%

@ Concession of 0.25% is allowed for negotiable warehouse receipt.

Processing Fees

6

Personal loan

2% of Loan amount
Minimum: Rs.1000/-

Maximum: Rs.10,000/-

7

Pensioner loan

Pensioners/ Family Pensioners of our Bank (Ex-Staff) : Nil

Others : Rs.1,000/-

 

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