Personal loans are available from the Bank of Baroda to employed people, self-employed people, self-employed professionals, and insurance agents. To obtain a Bank of Baroda Personal Loan, you must be at least 21 years old. Depending on your geographical region, you may be eligible for a loan of up to Rs.5 lakh to Rs.10 lakh. For more details, you can read the article, and check the details carefully.
Bank of Baroda Personal Loan EMI Calculator
With the Bank of Baroda Personal Loan EMI Calculator, calculating your monthly installments is no longer a burden. Yes, this amazing and intelligent equipment, with its well-designed algorithms, allows you to easily calculate your EMI, Interest Outgo, and the total amount payable. After taking into account: This time-saving tool retrieves the values in only a few seconds.
| Loan Amount | Rs. 2,50,000 |
| Interest Rate | 10.99% |
| Tenure | 12 months |
| Monthly Instalment (EMI) | Rs. 22,094 |
| Total Interest Amount | Rs. 15,131 |
| Total Amount (Principal + Interest) | Rs. 2,65,131 |
How does Bank of Baroda Personal Loan EMI Calculator Works?
The EMI calculator is a useful tool that allows the user to estimate the monthly payment you’ll have to make to repay a loan. While using the personal loan EMI calculator from Bank of Baroda is an online tool that allows you to calculate your monthly EMI payment even before you apply for a loan. It allows you to experiment with different loan factors such as loan amount, interest rate, and loan tenure to find the best EMI for you. However, you can check your EMI payout promptly and for free with the Afinoz personal loan EMI calculator.
The three points that make up an EMI calculator are as follows:
- Loan Amount: The amount of money you borrow from the lender is referred to as the loan amount. Personal loans from the Bank of Baroda range from Rs. 50,000 to Rs. 10 lakh.
- Interest Rates: The rate at which the lender charges interest on the amount borrowed is known as the interest rate. The interest rate on a Bank of Baroda Personal Loan starts at 10.50% per annum.
- Loan Tenure: This is the amount of time you have to repay the loan. Bank of Baroda Personal loans can be repaid over a variety of terms, ranging from 12 to 60 months.
Bank of Baroda Personal Loan Interest Rates
Bank of Baroda offers personal loans up to Rs.10 lakh to consumers in urban and semi-urban areas, with interest rates ranging from 10.50% to 12.50% per annum and repayment terms of up to 60 months. The processing fee is 2% of the loan amount, with a minimum fee of Rs.1,000 and a maximum fee of Rs.10,000. The loan can be repaid over a period of up to 60 months.
Factors affecting Bank of Baroda Personal loan Interest Rates
- Age of the applicant: The interest rate is normally set higher if the applicant is approaching retirement age since the risk involved is greater.
- CIBIL Score: The applicant’s repayment history is taken into account while calculating the CIBIL score. The interest rate will be greater if the applicant has a poor CIBIL score (below 750) and has failed to repay previous loans or credit card bills on time.
- Loan Tenure: The payback period selected by the applicant has an impact on the interest rate, as it does in most circumstances.
- Resident Location: The interest rate determined by the Bank of Baroda could also be depending on whether the applicant lives in an urban or semi-urban area.
Bank of Baroda Personal Loan Eligibility Criteria
In the given table, you can check Bank of Baroda’s eligibility criteria such as interest rates, loan tenure, age criteria, employment status, credit score, prepayment charges, and more. Read the table and get the information you required for availing of the loan:
| Particulars | Salaried/Self-employed |
| Interest Rate | 10.50% p.a. – 12.50% p.a. |
| Processing Fee | 2% of the loan amount (Minimum of Rs.1,000 and maximum of Rs.10,000) |
| Loan Tenure | Maximum of 48-60 Months |
| Loan Amount | Urban Areas:
Semi-Urban Areas:
|
| Age criteria | Minimum: 21 years
Maximum of 60 years for salaried individuals Maximum of 65 years for non-salaried individuals |
| Employment Status | Salaried, self-employed, insurance agents, etc. |
| Credit Score | 750 score |
| Lowest EMI per lakh | Rs.2,149 |
| Pre-Payment/Foreclosure Charges | As per the terms and conditions set by the Bank of Baroda |
| Overdue EMI Interest | 2% of the due amount |
Conclusion
In the above article, you can check the eligibility criteria, factors affecting, EMI calculation, and more. You can also use the Afinoz EMI calculator that helps you avail of a personal loan for any bank. You can also visit the official site Afinoz.com or contact the Bank of Baroda for availing a personal loan.
