Bank of Baroda Personal Loan Details [Interest Rate, Processing Fees, Tenure, Prepayment Charges 2022]

By | October 31, 2023


 

About Bank of Baroda:
Bank of Baroda is a renowned Indian corporate bank providing a wide range of banking and financial services. Founded by Maharaja Sayajirao Gaekwad III in 1908, the bank is a symbol of hope and energy, serving more than 153 million customers across 18 countries. It is classified as a commercial public sector undertaking (PSU) and has implemented customer-centric initiatives such as NRI Specialty Branches, Gen-Next Branches, Retail Loan Factory, and SME Loan Factory, adopting innovative approaches like assembly line techniques to expedite loan disbursements.

Key Features:

  • Products: Bank of Baroda offers various products to cater to its customers’ needs, including prepaid cards, reloadable virtual prepaid cards, credit and debit cards, health and life insurance, custodial services, DigiNext cash management services, merchant payment solutions, and more.
  • Head Offices: The registered head office is in Mandvi, Vadodara, while the corporate office is located in Bandra, Mumbai. The primary head office is on Dutt Road, Vadodara.
  • Number of Employees: Currently, the bank has a global workforce of 78,093 employees. Sanjiv Chadha serves as the Managing Director & CEO, and Dr. Hasmukh Adhia is the Non-Executive Chairman.
  • Branches & ATMs: Bank of Baroda has a vast network, comprising 8,185 branches in India and a total of 8,537 branches globally, spread across 18 countries.
  • Interest Rate: Loan interest rates range from 10.40% to 16.00% per annum.
  • Loan Amount: Customers can avail loans up to Rs. 15 million.
  • Maximum Term: Loan tenure extends up to 5 years.
  • Processing Fee: The processing fee is 2% of the loan amount (Rs. 1,000-10,000) plus GST.
  • Upfront Fee: Not applicable.
  • Minimum Monthly Salary/Annual Business Income: Eligibility criteria depend on the loan amount requirements.

Bank of Baroda’s extensive global presence and diverse product offerings make it a prominent choice for customers seeking reliable banking services. For the most accurate and updated information, individuals are encouraged to visit Bank of Baroda’s official website or contact the bank directly.

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