Bank of Baroda ₹5 Lakh Loan Apply Online

Planning to take a ₹5 lakh personal loan? Whether it’s for medical expenses, home renovation, wedding, travel, or debt consolidation, Bank of Baroda offers flexible personal loan options with competitive interest rates and long repayment tenure.

Bank of Baroda ₹5 Lakh Personal Loan Recap

Details	Information
Loan Amount	₹5 Lakh
Interest Rate	Starts from 10.40% p.a.
Tenure	Up to 84 months
Processing Fee	2% + GST
Collateral	Not Required
Application Mode	100% Online Available

Types of Bank of Baroda Personal Loans

Bank of Baroda offers different types of personal loans. Here is a detailed breakdown of interest rates and charges:

1️⃣ Regular Personal Loan Features

This is the standard personal loan offered to salaried and self-employed applicants.

Interest & Charges:

• Interest Rate: Starts from 10.40% per annum
• Repayment Tenure: Up to 84 months
• Processing Charges: 2% of the loan amount + GST
• Processing Fee for Government Employees: NIL (No charges)

Best For:

• Salaried employees
• Self-employed individuals
• Pensioners

Longer tenure means lower EMI burden.

2️⃣ Pre-Approved Personal Loan Features

If you already have a relationship with Bank of Baroda, you may get a pre-approved offer.

Interest & Charges:

• Interest Rate: 12.90% to 16.40% p.a.
• Repayment Tenure: 18 months to 36 months
• Processing Charges: 2% of the loan amount + GST
• APR (Annual Percentage Rate): 15.23% to 19.95%

Benefits:

• Faster approval
• Minimal documentation
• Instant disbursal in many cases

3️⃣ Digital Personal Loan Features

This is a fully online loan option with digital processing.

Interest & Charges:

• Interest Rate: 12.90% to 18.25% p.a.
• Repayment Tenure: 12 months to 60 months
• Processing Charges: 2% of the loan amount + GST
• APR: 14.38% to 23.39%

Best For:

• Applicants who prefer 100% online process
• Quick disbursal needs

Also Read: How to Get a Personal Loan Without a Salary Slip in India

Example EMI Calculation for ₹5 Lakh Loan

Let’s understand Bank of Baroda Personal Loan EMI with an example:

If you take ₹5 lakh at 11% interest for 5 years:

• Approx EMI: ₹10,800 – ₹11,200
• Total repayment: Around ₹6.5 – ₹6.8 lakh

(Exact EMI depends on the final approved interest rate.)

A longer tenure reduces the EMI but increases the total interest paid. Also, you can check QuickCash’s EMI Calculator to know the EMI.

Eligibility for ₹5 Lakh Loan

To apply for a Bank of Baroda personal loan:

For Salaried:

• Age: 21 – 60 years
• Stable job
• Good credit score (700+)
• Minimum income as per bank norms

For Self-Employed:

• Age: 21 – 65 years
• Stable business income
• ITR / Income proof
• Healthy bank transactions

Documents Required

• Aadhaar Card
• PAN Card
• Address Proof
• Salary Slip (for salaried)
• Bank Statement (3–6 months)
• ITR (for self-employed)

How to Apply Online for a Bank of Baroda ₹5 Lakh Loan?

1. Visit the Bank of Baroda official website.
2. Go to the Personal Loan section
3. Click “Apply Online”
4. Fill personal & income details.
5. Upload documents
6. Submit application

The loan is credited after approval and verification have been completed.

Benefits of Bank of Baroda ₹5 Lakh Loan

✔ Competitive interest rates
✔ Long repayment tenure up to 84 months
✔ NIL processing fee for Government employees
✔ Trusted public sector bank
✔ Fully digital loan option available
✔ No collateral required

Also Read: SBI Customers can get ₹5 Lakh Loan Online

Conclusion

₹5 lakh personal loan from Bank of Baroda can be a smart option if you need funds quickly with flexible repayment. Before applying, compare the interest rate, APR, processing fee, and total repayment amount carefully. For more easy-to-understand loan guides, keep visiting QuickCashs.

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