If you are thinking of taking a loan then there is a golden opportunity for you. BOB Personal Loan is provided by Bank of Baroda. If you need money for any personal work or to open a new business then you can get a loan from the bank. This loan is easily available to the common man, whether employed or self-employed. Loans up to Rs. 10 lakh are available to the common man.
Loans ranging from Rs 50,000 to Rs 10 lakh are available through banks at low interest rates with ID proof like Aadhar card and PAN card. The process to apply for a BOB loan is very simple.First of all, you should have an account in Bank of Baroda. Mobile number should be linked with it. E KYC of the account should be done.
Loan details and required documents
- Aadhar card or PAN card
- Mobile number
- Bank statement
- Business document or employment certificate.
- Income certificate
The requirements for the loan are as follows:
- A person with a fixed salary scale is required for a salaried person. A person with an income of up to Rs. 15 thousand is eligible for a loan. If the business owners have an income of up to Rs. 25000, then they are eligible for a loan.
- The applicant is eligible for a loan if his/her age is between 21 years and 60 years.
- The credit score of the person applying for the loan must be around 750.
- The repayment period of the loan is fixed from twelve months to 48 months i.e. from one year to four years.
- The loan amount is fixed from a minimum of 50,000 to a maximum of 10 lakhs.
- The annual interest rate of the loan is kept from 10% to 16%.
- Documents prescribed by the person applying for a loan such as PAN card, Aadhar card for ID proof, bank passbook, bank statement letter, mobile number and email ID, ration card and electricity bill for address group have been prescribed.
- After verification of complete details and approval of the loan, the loan amount is deposited in the bank account within two to three days.
- Application Process: The following steps are required to be followed to get a loan from BOB Bank.
The bank has made it very easy to get a loan
- 1. First of all, go to the official website of Bank of Baroda and read the information. https://www.bankofbaroda.in/personal-banking/loans/personal-loan
- 2. Look at the second option on the Bank of Baroda website. Here, Baroda Digital Personal Loan will be the option given. Where loans from 50,000 to 10,00,000 are given.
- 3. Click on the apply option below and a new page will open. Here all the details of the loan will be given as official information. Read this information completely and only then click on the process option given below.
- 4. After clicking on the process pattern, you will have to enter your mobile number and OTP for mobile number verification.
- 5. Then an option of calculate will come, from here you have to select the amount of money based on how much money you need and calculate it.
- 6. After this calculation, fill the application form. While filling the application form, make sure that all the information is correct. If any information is found to be incorrect, then your application is liable to be rejected.
- 7. After filling out the complete application form and uploading the documents, read all the loan information thoroughly and submit your form. Take a printout of the application form and submit all the documents in hard copy to the bank. Only then will your application be approved by the bank and you will be eligible to receive the loan amount. The loan amount will be deposited in the bank account. And after the stipulated time, the loan interest will also have to be paid.
Important links
| Apply for loan | Click here |
| Home page | Click here |
