BOB 10 Lakh Personal Loan 2024 – ₹10 लाख तक का तुरंत पर्सनल लोन, 0% ब्याज दर पर – फ्री आवेदन की सरल प्रक्रिया!

BOB 10 Lakh Personal Loan: It is difficult for individuals to make ends meet in today’s high inflation. With a sudden cash crunch and a lack of emergency funds, people usually buy personal loans to fulfil their financial needs. If someone is looking for a personal loan of up to ₹10 lakhs with a maximum tenure of 60 months and an interest rate starting from 12.40%, check out BOB Personal Loan. With this, BOB offers a variety of flexibility to the borrowers where any salaried or self-employed may apply for a loan. And for pre-payment, they won’t charge any extra fee. Isn’t it quite good?

Within 24-48 hrs, they process your loan applications, and on verifying your details and documents, the loan amount is disbursed to your bank account swiftly. Such a quick process may provide the facility to fulfil your needs. Streamlined documentation is a bonus to complete the loan process within a few days.

₹10 लाख तक का तुरंत पर्सनल लोन, 0% ब्याज दर पर - फ्री आवेदन की सरल प्रक्रिया!

BOB 10 Lakh Personal Loan 2024

Also, BOB offers a pre-approved personal loan to their existing customers, where they get some extra features. However, the limit of pre-approved loans is up to 5 lakhs, and it also has a shorter loan tenure of 36 months. You can apply for the BOB Personal loan digitally or by visiting the nearby branch. Bank aims to provide you with a hassle-free and flexibility-rich loan where you don’t need to compromise.

Here, we have shared all the key details of the loan, and anyone wanted to know more may contact the bank representative. They are happy to help you.

Benefits of BOB Pre-Approved and Digital Personal Loan

People often ask what a pre-approved loan is and why such loans are so exciting compared to the regular ones. For such people, we would like to inform you that banks offer this pre-approved loan to their customers without their needs, which is why it comes with such exciting benefits. If you are a BOB customer, you can easily check whether you have any pre-approved personal loans. You must send an SMS from your registered mobile number to a bank in the given format.

PAPL <Space> <last 4 digit of debit card number> and send it to 8422009988

Pre-Approved LoanDigital Personal Loan
Loan Amount: 50,001 to 5,00,000Loan Amount: 50,00 to 10,00,000
Interest Rate: 12.40% to 15.90%Interest Rate: 12.40% to 17.75%
Loan Tenure: 18 to 36 monthsLoan Tenure: 12 to 60 months
APR: 13.81% to 18.60%APR: 13.30% to 19.69%
Processing Fee: 2% of loan amount
(Min: 1000 and Max 10,000)
Processing Fee: 2% of loan amount
(Min: 1000 and Max 10,000)
Income details, ITR not requiredRequired
Age: Minimum 21 Years and Maximum 57 YearsAge: Minimum 21 Years and Maximum 58 Years for Salaried
and 65 for Self-employed

BOB Digital Personal Loan Details

Look at some quick details of the loan offered by the Bank of Baroda.

FeatureDetails
Loan Amount₹50,000 to ₹10,00,000
Interest RatesStarting from 12.40%
Repayment Tenure12 to 60 Months (as you needed)
No Document RequirementJust basic KYC documents (No Salary Slip and No Account Statement)
Application ProcessDigital (Paperless)
Loan Approval and DisbursementWithin a day of application submission
Benefits and AdvantagesFlexibility, Affordability, Convenient

PhonePe Personal Loan 2024: Get ₹5 Lakhs Instantly with no Documents and 0% Interest

Who is eligible for a Bank Of Baroda Personal Loan?

There are not so many requirements to be eligible for a BOB Digital personal loan.

  • Any Indian citizen between 21 and 60 years old.
  • Salaried or self-employed professionals are eligible (Except SHG, NRIs, and Co-Applicant).

Document required for BOB Digital Personal Loan

With a BOB personal loan, the borrower doesn’t need to produce many documents, unlike other lenders. The minimum documentation makes the process streamlined so anyone can apply for it without a problem. All you need to apply for Bank Of Baroda Digital personal loan is

  • Valid Mobile Number and PAN Number.
  • Applicant’s Aadhaarnumber for E-Stamp procurement and OTP verification.
  • Online Banking details or Digital Bank Statement (Last 6 Months).
  • Last two years ITR returns, for Self-employed applicants.
  • GST Credential or GST Return (Last one year) for Self-Employed.

Application procedure for BOB Personal Loan

It’s totally up to you what way you choose to apply for a BOB Personal loan: from their Official website, their Mobile App or by visiting a nearby bank branch in person.

Official Website: To apply online, open the BOB official website and navigate to the loan section.
bob personal loan

Mobile App: For this, you need to download the BOB mobile app, and by submitting the details, you can tap on the loan section.

Branch Visit: You need to find a nearby branch in your area.

Submit Details: Enter the personal, bank and other details as the application form asks. For any help, you can ask the bank representative.
bob 10 lakh personal loan

Upload Documents: There are not many, but only the Aadhar card and PAN Card are the two documents you need at this stage, and you are done with the documentation process.

Review form: Once you have completed the application form, review it thoroughly.

Disburse: Once the bank officials verify the submitted application details, they will disburse the loan amount to your bank account.

BOB Personal Loan Interest and Charges

There is no specific fixed interest rate for a BOB Personal loan because it may vary as per your loan amount and tenure. Higher loan amounts and lower tenure may bring down the interest rate.

Personal LoanLoan Limit ConditionRepo Linked lending Rate + Strategic Premium + SpreadEffective RoI
R.O.I (based on CIBIL Score and internal score)Loan amount above Rs.50,000/-Min: BRLLR+SP+3.50Max: BRLLR+SP+8.8512.40% to 18.25%
As per State Stamp ActProcessing charge @2% of loan amount + Applicable GST
Min- Rs.1,000/- + GSTMax- Rs,10,000/- + GST
Stamp dutyAs per state stamp act

BOB Loan Disbursement procedure

Generally, the loan disbursement procedure takes 24 to 48 hours, depending on the amount of loan you apply for and the documents. Once the bank officials verify all documents and are okay with it, they disburse your loan. But if the loan amount exceeds usual, they may take longer.

Factors influence the loan processing time:

  • Lower loan amounts will take a shorter processing time.
  • Documents submitted are correct per the bank’s need, and the loan is processed faster.
  • A higher credit score may automatically increase the processing time because it shows your credibility.
  • Anyone with a pre-approved loan and a BOB customer may experience the process even faster.

Who can apply for a BOB Digital Personal Loan?

Any Salaried, Self Employed Indian applicants are eligible.

What is the maximum tenure of a BOB personal loan?

Applicants may have the loan for a maximum period of 60 months, but for pre-approved loans, it is 36 months.

What documents are required for BOB Digital Personal Loan?

For Salaried Applicants:
1) PAN and Aadhaar card
2) ITR Copy
3) Bank Statement
Self Employed
1) PAN and Aadhaar card
2) ITR Copy
3) Bank Statement
4) GST Return

What are the foreclosure charges for a BOB Loan?

The bank will not charge for any pre-payment or foreclosure.

What is the minimum CIBIL Score required for a BOB Personal Loan?

Anyone above 701 is considered to be a good score.

How can I schedule the V KYC for the BOB Loan?

During the form submission, applicants may choose their preferred date and time for Video KYC.

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