How to Apply for a Bank of Baroda Loan in 2025

Applying for a Bank of Baroda (BOB) loan in 2025 is easier than ever, with online and offline options catering to different borrower needs. Whether you need a personal loan, business loan, or home loan, BOB offers competitive interest rates, flexible repayment terms, and quick approval processes. In this guide, we’ll walk you through eligibility requirements, interest rates, required documents, and step-by-step application instructions to help you secure the right loan.

Eligibility Criteria

Before applying, ensure you meet these requirements:

• Age: 21-60 years (for salaried) / up to 65 years (for self-employed).
• Employment:
  • Salaried: Minimum one year of continuous service in a government or private company.
  • Self-employed: Minimum one year in business operations.
• Credit Score: A good CIBIL score (above 700) improves approval chances.
• No Previous Defaults: Loan defaulters may be ineligible.

Loan Types Available

BOB offers multiple loan products, including:

1. Personal Loan – For weddings, travel, medical expenses, or debt consolidation.
2. Home Loan – For purchasing, constructing, or renovating a house.
3. Business Loan – To expand or establish a business.
4. Education Loan – For higher studies in India or abroad.
5. Car Loan – To purchase new or used vehicles.

Loan Amount and Tenure

• Loan Amounts:
  • ₹1 lakh to ₹20 lakhs for metro/urban areas.
  • ₹50,000 minimum for rural/semi-urban areas.
• Repayment Period:
  • Up to 7 years (depending on the loan type).

Interest Rates

BOB offers competitive fixed and floating interest rates:

• Fixed Rate: 11.05% to 18.15% p.a.
• Floating Rate: 11.30% to 18.75% p.a.

Your final rate depends on creditworthiness, income, and loan amount.

Documents Required

Prepare the following documents before applying:

For Salaried Applicants

• Identity Proof: PAN card, Aadhaar, Passport, Voter ID, Driving License.
• Address Proof: Utility bill, Bank statement, Rent agreement.
• Income Proof: Salary slips (last 3 months), Bank statement (6 months).
• Employment Proof: Offer letter, Employment ID card.

For Self-Employed Applicants

• Business Proof: GST certificate, Business registration.
• Financials: ITR (last 1 year), Profit & Loss Statement, Balance Sheet.

Step-by-Step Application Process

Online Method

1. Visit the Bank of Baroda website.
2. Navigate to the loan section and select your desired loan type.
3. Fill out the application form accurately.
4. Upload necessary documents.
5. Complete e-KYC verification.
6. Submit the application and wait for approval.

Offline Method

1. Visit the nearest BOB branch.
2. Request a loan application form.
3. Provide required documents.
4. Submit the form and wait for processing.

Processing Time and Approval

• Online applications take 1-3 business days.
• Offline applications may take up to 7 days.

Fees and Charges

• Processing Fee: 1% to 2% of loan amount + GST.
• Foreclosure Charges: 3% for fixed-rate loans (first 3 years).

Tips to Improve Loan Approval Chances

• Maintain a CIBIL score above 700.
• Show stable employment or business history.
• Reduce existing loan burdens before applying.

Common Reasons for Loan Rejection

• Poor credit history.
• Incomplete documentation.
• Unstable income.

Repayment Methods

• Auto-debit from your BOB account.
• Online EMI payments via net banking.
• Branch payments (cash or cheque).

Benefits of Bank of Baroda Loans

• Competitive interest rates.
• Flexible repayment options.
• Quick processing and approval.

Customer Support and Assistance

• Call: 1800 258 4455.
• Email: bobcare@bankofbaroda.com.

FAQs

How long does it take to get a loan approved?

Online loans are approved in 1-3 days, while offline applications take up to a week.

Can I prepay my loan early?

Yes, floating-rate loans have no foreclosure charges, while fixed-rate loans have a 3% prepayment fee.

What is the minimum salary required for a BOB personal loan?

Your net monthly income should be at least ₹25,000 for metro areas.

Is there a processing fee for Bank of Baroda loans?

Yes, 1% to 2% of the loan amount + GST applies, except for BOB Government Employees.

How do I check my loan status?

You can track your application on the BOB website or call customer care.

Can I apply if I have an existing loan?

Yes, but your debt-to-income ratio should be under 50% for approval.

Conclusion

Getting a Bank of Baroda loan in 2025 is straightforward if you meet the eligibility criteria and provide the required documents. Whether you choose personal, home, or business financing, BOB ensures a seamless borrowing experience with affordable interest rates and flexible repayment plans.