Typically, the personal loan interest rate at Bank of Baroda is 11.25% to 18.30% (fixed) and 10.90% to 18.25% (floating). It varies based on your employment type, credit score, and relationship with the bank.
Government employees with a salary account at the Bank of Baroda can avail of interest rates between 11.15% and 11.65% per annum. Private sector or self-employed individuals can face up to 18.50% per annum.
If you want to apply for the Bank of Baroda personal loan, read till the end to understand its interest rates, eligibility, impact, and fees.
| Bank of Baroda personal loans provide affordable interest rates, minimal documentation, and quick processing, which makes it a convenient solution for urgent financial needs. |
BOB Bank Personal Loan Interest Rates 2025
The interest rate for BOB Personal Loans varies based on the category of applicants, as you can see in the table below:
| Category | Interest Rate % (Floating) | Interest Rate % (Fixed) |
|---|---|---|
| Government employees/defense personnel with salary accounts with scheme code (SB 182 & 186) | 11.15% to 11.65% | 11.25% to 11.75% |
| Gold: Govt/PSU/Autonomous body employees with salary accounts at BOB | 11.65% to 16.50% | 11.50% to 14.35% |
| Silver (Category C): Same as Gold, but salary account with other bank | 12.15% to 16.50% | 12.00% to 14.35% |
| Category B: Private employees/self-employed with a BoB account | 12.90% – 16.50% | 13.05% to 15.30% |
| Category A: Private employees/self-employed with other bank account | 14.90% to 18.50% | 15.00% to 18.30% |
BOB Bank Personal Loan Fee & Charges
The processing fee and charges for the Bank of Baroda Personal Loan are given in the table below:
| Government employees with a BOB salary account | Nil |
| Others | 1% of the loan amount to 2% + GST (Minimum amount: ₹1,000 + GST Maximum amount: ₹10,000 + GST) |
BOB Personal Loans Schemes Interest Rates
The table below gives a quick overview of the loan amount range offered by each BOB personal loan type:
| Loan Type | Loan Amount | Interest Rate (%) |
|---|---|---|
| Baroda Loan To Pensioners | Based on the type of pensioner* | 11.65% to 12.15% |
| Baroda Digital Personal Loan | ₹50,000 and ₹10 lakh | Starts from 13.05% |
| Baroda Digital Pre-Approved Personal Loan | Above ₹50,000 to ₹5 lakh | Starts from 13.05% |
| Baroda Personal Loan | ₹1 lakh to ₹20 lakh | 11.25% to 18.30% (Fixed) 10.90% to 18.25% (Floating) |
*Regular pensioners can get up to ₹8 lakhs (if aged up to 70) or ₹5 lakhs (if above 70), while family pensioners can get up to ₹3 lakhs (up to age 70) or ₹1.5 lakhs (if above 70).
Now, let us understand each of these personal loans offered by the Bank of Baroda.
Types of BOB Personal Loans
The Bank of Baroda offers 4 types of personal loans to meet the requirements of a diverse audience.
- Baroda Loan to Pensioners: It is designed for retired individuals receiving pensions via Bank of Baroda branches.
- Baroda Digital Personal Loan: It is suitable for various financial needs, including vacations, home improvements, or unexpected expenses.
- Baroda Digital Pre-Approved Personal Loan: Available to select existing customers, this loan provides instant approval with a paperless process.
- Baroda Personal Loan: This loan is suitable for various personal financial needs, such as medical emergencies, weddings, or education expenses
Get Personal Loan Online Up to ₹15 Lakhs
By entering your number, you're agreeing to Terms & Conditions & Privacy Policy.
BOB Bank Personal Loan EMI Calculator
The Bank of Baroda Personal Loan EMI Calculator is an online tool that helps you calculate your EMI instantly.
Your Amortization Schedule (Yearly/Monthly)
Steps to Calculate Personal Loan EMI on BOB Portal
You can also calculate the Bank of Baroda personal loan EMI on the BOB official portal. Check the steps below to know your loan EMI:
- Visit the Bank of Baroda official website and navigate to the ‘BOB Personal Loan’ section.
- Simply adjust sliders for loan amount, interest rate, and tenure.
- The EMI Calculator will generate your monthly installment amount.
You can explore different repayment scenarios to find an EMI that fits your budget.
EMI for BOB Bank Personal Loan
Consider your BOB Personal Loan interest rate at 12% and go though the EMI calculation for varied amounts for 1 to 5 years.
| Loan Amount | 1 Year | 2 Year | 3 Year | 4 Year | 5 Year |
|---|---|---|---|---|---|
| ₹1 Lakh | ₹8,884 | ₹4,707 | ₹3,321 | ₹2,633 | ₹2,225 |
| ₹2 Lakh | ₹17,768 | ₹9,414 | ₹6,643 | ₹5,266 | ₹4,450 |
| ₹3 Lakh | ₹26,652 | ₹14,121 | ₹9,964 | ₹7,899 | ₹6,675 |
| ₹4 Lakh | ₹35,536 | ₹18,828 | ₹13,286 | ₹10,532 | ₹8,900 |
| ₹5 Lakh | ₹44,420 | ₹23,535 | ₹16,607 | ₹13,165 | ₹11,125 |
| ₹6 Lakh | ₹53,304 | ₹28,242 | ₹19,929 | ₹15,798 | ₹13,350 |
| ₹7 Lakh | ₹62,188 | ₹32,949 | ₹23,250 | ₹18,431 | ₹15,575 |
| ₹8 Lakh | ₹71,072 | ₹37,656 | ₹26,572 | ₹21,064 | ₹17,800 |
| ₹9 Lakh | ₹79,956 | ₹42,363 | ₹29,893 | ₹23,697 | ₹20,025 |
| ₹10 Lakh | ₹88,840 | ₹47,070 | ₹33,215 | ₹26,330 | ₹22,250 |
| ₹15 Lakh | ₹133,260 | ₹70,605 | ₹49,822 | ₹39,495 | ₹33,375 |
| ₹20 Lakh | ₹177,680 | ₹94,140 | ₹66,430 | ₹52,660 | ₹44,500 |
| ₹25 Lakh | ₹222,100 | ₹117,675 | ₹83,037 | ₹65,825 | ₹55,625 |
| ₹30 Lakh | ₹266,520 | ₹141,210 | ₹99,645 | ₹78,990 | ₹66,750 |
| ₹50 Lakh | ₹444,200 | ₹235,350 | ₹166,075 | ₹131,650 | ₹111,250 |
The interest rate used is a typical value from the range given to the salaried and self-employed individuals and is subject to change.
Get Personal Loan Online Up to ₹15 Lakhs
By entering your number, you're agreeing to Terms & Conditions & Privacy Policy.
Comparison of Personal Loan Interest Rates
The table below compares personal loan interest rates between various banks and NBFCs, including the Bank of Baroda.
| Banks | Personal Loan Interest Rate (% per annum) |
|---|---|
| Bank of Baroda | 11.15% to 18.50% |
| Axis Bank | From 11.25% |
| Canara Bank | From 10.95% |
| HDFC Bank | 10.9% to 21% |
| ICICI Bank | 10.85% to 16.65% |
Factors Affecting BOB Bank Personal Loan Interest Rate
The key factors that affect Bank of Baroda’s personal loan interest rates are:
- Credit Score: A higher CIBIL score can help secure lower interest rates.
- Income Level: Applicants with higher and stable incomes are seen as lower risk.
- Employment Type: Salaried individuals, especially government employees, often get better interest rates.
- Loan Amount & Tenure: Larger amounts or longer tenures may influence the applicable rate.
- Relationship with the Bank: Existing customers may receive preferential rates.
- Repayment Capacity: A strong repayment history positively impacts rate offerings.
- Loan Category: The type of personal loan scheme chosen may affect the rate.
Impact of Credit Score on Personal Loan Interest Rates
A credit score reflects your creditworthiness and repayment history, which helps lenders determine whether you qualify for instant personal loans.
Here’s what you need to know about how your credit score impacts your personal loan interest rates:
- High credit score (750 and above): This leads to low interest rates and reduced risk.
- Moderate credit score (650-749): It results in slightly higher interest rates.
- Low credit score (below 650): It can increase your interest rates significantly, result in loan rejection, and greater risk.
Impact of Repo Rate Cut on Loan Interest Rate
Let’s first understand the Repo Rate. It is the rate at which the RBI lends money to banks.
If the repo rate is low, banks can borrow money at affordable interest rates. Whereas for high repo rates, the interest rate also increases for the bank.
The Reserve Bank of India (RBI) recently reduced the repo rate by 25 basis points, bringing it down to 6%.
In the case of Bank of Baroda, the RBI’s repo rate cut was applied to its retail and MSME customers by reducing its external benchmark-linked lending rates by 25 basis points.
Here’s how it impacts the loan interest rates:
- The interest rates on floating rate loans may be lower, which also reduces the EMIs.
- The interest rates on fixed-rate loans will remain unaffected, and therefore, the EMIs will remain the same.
Here are the top benefits of a repo rate cut:
- Reduced interest rates make loans more affordable.
- Lower interest rates result in lower monthly payments.
- Lower EMIs increase eligibility for higher loan amounts.
Banks usually keep a minimum interest rate on loans based on the borrowing cost, and it is referred to as the MCLR or Marginal Cost of Funds-based Lending Rate. It is used to set the interest rates for personal loans, home loans, and auto loans.
With the RBI repo rate update, the Bank of Baroda Overnight MCLR is 8.15%, and its One-Year MCLR is 9%.
Eligibility for BOB Personal Loan
To apply for the Bank of Baroda Personal Loan, you need to meet certain criteria. Eligible applicants include:
- Individuals with a minimum age of 21 years.
- Salaried employees of government bodies, public sector units, MNCs, public limited companies, and educational institutions with at least 1 year of continuous service.
- Employees of private companies, trusts, or LLPs with at least 1 year of continuous service.
- Insurance agents with a minimum of 2 years in business.
- Self-employed professionals (like doctors, engineers, consultants, etc.) and business owners with at least 1 year of stable business.
Note that staff members, NRI/PIO, and co-applicants are not eligible for a BOB Personal Loan.
Download the Buddy Loan App Now!
One solution to each of your financial needs at your fingertip.
Scan to download now
