Bank of Baroda Personal Loan

Bank of Baroda requires a minimum monthly income of ₹15,000 for personal loan applicants. Salaried employees with a regular salary credit and self-employed professionals with documented income both qualify, subject to individual credit assessment.

Bank of Baroda charges a processing fee of 2%. This is a one-time charge deducted from the disbursed amount. GST at 18% is also applicable on the processing fee. There are no hidden charges — all fees are disclosed upfront on Paisawaala.

The final step with Bank of Baroda is typically: Sign agreement and receive disbursement. For existing customers or pre-approved offers, the timeline is significantly shorter.

Bank of Baroda requires a minimum CIBIL score of 650. A higher score (750+) improves your chances of getting a lower interest rate. You can check your CIBIL score for free on Paisawaala before applying.

Yes, most personal loans from Bank of Baroda can be foreclosed after a lock-in period (typically 6–12 EMIs). Foreclosure charges may apply depending on when you close the loan and the outstanding principal. Check the loan agreement for exact terms.

Bank of Baroda is a scheduled public sector bank regulated by the Reserve Bank of India (RBI). Your deposits are insured by DICGC up to ₹5 lakhs.