Bank of Baroda
Personal Loan

Applicant Type

-Salaried, self-employed professionals, business owners, or insurance agents
-Not applicable for BoB staff, NRIs, or PIOs

Employment

-Salaried: Minimum 1 year in current job
-Self-employed/Business: Minimum 1 year in business
-Insurance agents: Minimum 2 years in business

Age Limit

-Minimum: 21 years
-Maximum: 60 years (salaried) / 65 years (self-employed) at loan maturity

Minimum Income

-Based on FOIR rules (40%–75% of monthly income)
-Exact requirement depends on job type & bank relationship

Loan Amount

-Minimum: ₹50,000 (rural) / ₹1 lakh (urban)
-Maximum: ₹20 lakhs

Credit Score

A good CIBIL score (700+) is preferred for quick approval

USP

Up to 7 years for government employees

Documents Required

    1. Proof of residence includes any of the following:
      1. Valid passport
      2. Voter id card
      3. Driving license
      4. Postpaid utility bill (gas bill and electricity bill)
      5. Updated passbook or bank account statement
      6. Registered rent agreement
    • Proof of identity:
    1. PAN card
    2. Aadhar Card
    3. Valid Indian passport
    4. Voters ID card
    5. Driving license
    6. Employee ID card issued by relevant authorities like the Govt or Defence or reputed corporate
    7. Identity document or certificate of practice with photograph issued by professional bodies like ICAI, ICWA, ICFAI
    • For salaried individuals
    1. Last 3 months’ salary slips
    2. Statement of account for last -6- months of our Bank/other bank
    • If the applicant is a self-employed individual
    1. Balance sheet and profit and loss account, computation of income for last 1 years
    2. Income Tax Returns – last 1 years for Applicants, 26 AS, Traces
    3. Business proof: Gomasta License, Registration Certificate, Service Tax Registration, among others
    4. IT Assessment/Clearance Certificate, Income Tax Challans/TDS Certificate (Form 16A)/Form 26 AS for income declared in ITR