Baroda Digital Pre-Approved Personal Loan (2024)

Pre-approved Personal Loan in few simple clicks !

Personal Loan EMI Calculator

Loan Amount:

10000

1500000

₹500000
Rate of Interest (%):

5%

18%

10.70
Loan Terms (monthly):

12

84

60
Equated Monthly Installment (EMI) will be

Gone are the days when loan applications were submitted at a physical bank branch only, and the entire process took several hours. Thanks to the Bank of Baroda’s pre-approved personal loan procedure, you can now receive money instantly. Our direct loan disbursem*nt and paperless process ensures you don’t have to go through the hassle of extensive documentation and approval. You can apply for an online pre-approved personal loan in an easy and convenient way by filling out an application or by visiting one of our nearest branches present across India.

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Benefits
Features
Eligibility Criteria
Document Required
Interest Rates & Charges
Most Important Terms and Conditions (MITC)

Baroda Digital Pre-Approved Personal Loan : Benefits

Baroda Digital Pre-Approved Personal Loan : Features

Purpose of Pre-approved Loan: Any purpose other than speculation

Baroda Digital Pre – Approved Personal Loan
Loan Amount	Above Rs.50,000/- to Rs.5,00,000/-
Repayment Period	18-36 months

Age criteria
1. Minimum age: 21 years
2. Maximum age: Less than 57 years

Baroda Digital Pre-Approved Personal Loan : Eligibility Criteria

Salaried individuals
Self Employed
Please Note: NRls / SHG are not eligible
To check Pre-Approved loan offer: type PAPL <space> last four digits of your debit card and send SMS to 8422009988 from your registered mobile number.

Baroda Digital Pre-Approved Personal Loan : Document Required

Valid Mobile number (Linked with Bank of Baroda Account Number)
Aadhar number for procurement of OTP for E-Stamping & E-Sign

Baroda Digital Pre-Approved Personal Loan : Interest Rates & Charges

Fixed ROI:

Product	Conditions		Applicable Rate of Interest	Effective Rate of Interest
Baroda Digital Pre-Approved Personal Loan	Rate of Interest (based on CIBIL Score and internal score)		Repo Rate + Spread Min: 1 Year MCLR+SP+3.80 Max: 1 Year MCLR+SP+7.30	Effective Rate of Interest 0.00%

Floating ROI:

Product	Conditions		Applicable Rate of Interest	Effective Rate of Interest
Baroda Digital Pre-Approved Personal Loan	Rate of Interest (based on CIBIL Score and internal score)		Repo Rate + Spread Min: BRLLR+SP+3.50 Max: BRLLR+SP+7.00	Effective Rate of Interest 0.00%

Unified Processing Charges:

Processing charge @2% of loan amount + Applicable GST

Stamp duty:

As per state stamp act

Penal Charges:

Penal Charges @ 2% p.a. will be charged on the amount of default for delayed payment of dues including Principal, interest, service charges etc.,
NOTE: Penal Charges will be applied solely to overdue payments (instalments and/or interest/service charges etc.), for the period they remain unpaid beyond their due date. Penal Charges will be calculated based on the actual number of days of default but will be debited on a monthly basis.
Penal Charges @ 2% p.a. will be charged on the outstanding balance of credit facilities of borrower for the default period for following nature of non-compliance:
1. Non-Submission of documents as per sanction terms
2. Non-compliance in security perfection as per sanction terms.
3. Any other breaches/ non- compliance in material terms of sanction

Baroda Digital Pre-Approved Personal Loan : Most Important Terms and Conditions (MITC)

Loan Limit

Pre - Approved Personal Loan: Above Rs.50,000/- to Rs.5,00,000/-

Repayment Period

Pre - Approved Personal Loan: 18-36 months

Age

Minimum -21, Maximum age - “Less than 57 years”

Pre - Payment/ Pre-Closure Charges

Floating ROI	Fixed ROI
NIL	Any prepayment of EMls in full or part and closure of account before the end of term will attract the prepayment charges of 3%+GST on prepaid amount after paying of one EMI.

Need Assistance?

Toll Free Number (Domestic):
1800 5700 1800 5000
Toll Free Number
For Domestic Customers
Calling From Abroad (24X7):
+91 79-66296009
Locate Our Branch
Find Our BC Agent

Frequently Asked Questions (FAQs)

What is PAPL?

PAPL i.e. PreapprovedPersonalLoanis apersonalLoanproductof the Bank which is offered to a select set of customers without income assessment.
How much time does it take for pre-approved loanapproval and disbursal?

It generally takes about 5-10 minutes to complete the entire process till disbursem*nt.
Does pre-approval guarantee a personalloan?

No, merely qualifying for Pre-approved offer does not guarantee final eligibility for thePersonalLoan.
Can pre-approved loanbe rejected?

Yes, pre-approved offers can be rejected basis non fulfilment of criteria set by the bank.
How does the pre-approval process work for personalloans?

The bank has a set of internal criteria based on which customers are selected for pre approval.
Is it safe to accept a pre-approved personalloanoffer?

Yes, it is absolutely safe to accept the pre-approvedpersonalloanoffer using bank’s official digital channels. Theloancan be used for any bonafied purpose other than speculation.
How is the EMI calculated for a pre-approved personalloan?

EMI is the fixed amount to be repaid by the customers every month for the entire repayment tenure of theloan. Each EMI constitutes a portion of Principal amount as well as the applicable interest over the period of theloan.
How to repay the pre-approved loan?

At the time ofloanaccount opening standing instructions regarding payment of the EMI is applied on the saving account of the customer. Thus, the customer needs to ensure that his/her account has sufficient balance in the account to service the EMI on the due date of every month.
Are there any processing fees for pre-approved personalloans?

Yes, processing fees @ 2% of theloanamount plus GST is levied for PAPL.

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Baroda Digital Pre-Approved Personal Loan (2024)

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Pre-approved Personal Loan in few simple clicks !