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Bank of Baroda Personal Loan Calculator

Bank of Baroda Personal Loan EMI Calculator, Jun 2021

Last Updated 11th Jun 2021

  • Personal loan EMI in Bank of Baroda depends upon loan amount, loan tenure, interest rate, monthly salary and company that you work for.
  • Bank of Baroda Personal Loan EMI Calculator is an online tool to estimate monthly EMI and its division into principal and Interest during the entire loan tenure.
  • Lowest monthly EMI is ₹ 2,149 per lakh on Bank of Baroda Bank personal loan as calculated using the lowest interest rate of 10.50% for the longest tenure of 60 months.
  • For example, the table below gives the EMIs on Bank of Baroda Personal Loan at different loan amounts and loan tenure, if taken at the lowest rate.
Loan Amount1 Year Loan3 Year loan5 Year loan
₹ 1 Lakh₹ 8,815₹ 3,250₹ 2,149
₹ 5 Lakh₹ 44,074₹ 16,251₹ 10,747
₹ 10 Lakh₹ 88,149₹ 32,502₹ 21,494

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Personal Loan EMI Calculator Bank of Baroda

Bank of Baroda Personal Loan EMI is a fixed amount of money paid by you to Bank of Baroda based on your loan amount, tenure and interest rate. Every month, it is due on a fixed day of the month till the loan is fully paid back. You can calculate your Bank of Baroda personal loan EMI in advance, to plan your loan payments and further expenses, using the Personal Loan EMI Calculator Bank of Baroda. The calculator functions on a mathematical algorithm and gives accurate results in no time.

Why should you use Bank of Baroda Personal Loan EMI Calculator?

  • Calculate the EMI within your budget: Helps you compare the EMIs with a different loan amount and tenure. Always talk to the bank to know the interest rate you will be eligible for Bank of Baroda personal loan which can range between 10.50% to 12.50%.
  • Compare Bank of Baroda personal Loan EMI: Helps you compare the estimated EMI on a personal loan from Bank of Baroda with that of leading banks in India using the same loan amount of upto ₹ 5 Lakh for a maximum tenure of 60 months, but at different interest rates.
  • Calculate interest on Bank of Baroda personal loan: You can calculate the split of total EMIs into interest and principal repayment on your loan from Bank of Baroda over the loan tenure.
  • Detailed amortisation schedule: This allows you to see the pace at which your principal amount will be repaid during the loan tenure month on month. This is helpful if you decide to prepay your loan at Bank of Baroda or balance transfer to another bank.

Bank of Baroda Personal Loan EMI Calculator to Estimate the EMI that Fits your Budget

Input different loan amounts and tenure at the eligible interest rate on Bank of Baroda Personal Loan EMI calculator to calculate various EMIs at different rates and tenure. The table captures the calculation of Bank of Baroda Personal Loan EMI Calculation at the various combinations of loan amount and years when taking at the lowest rate of 10.50%. So if you think that you can afford to pay an EMI of ₹ 10,000 in your budget, taking a ₹ 3 Lakh loan for 3 years or ₹ 5 Lakh loan for 5 years, maybe the right Bank of Baroda personal loan plan for you.Personal Loan EMI is calculated for Bank of Baroda for different loan amounts and tenures at the rate of 10.50%.

Loan Amount (Rs.)2 Years3 Years5 Years
1 Lakh ₹ 4,638 ₹ 3,250 ₹ 2,149
3 Lakh ₹ 13,913 ₹ 9,751 ₹ 6,448
5 Lakh ₹ 23,188 ₹ 16,251 ₹ 10,747
10 Lakh ₹ 46,376 ₹ 32,502 ₹ 21,494

Factors Affecting Bank of Baroda Personal Loan EMI

  • Loan amount – You will pay a higher EMI for the higher loan amount. Bank of Baroda gives a minimum loan of ₹ 50,000 and a maximum loan amount of ₹ 5 Lakh.
  • Interest rate - Higher interest rate increases your loan EMI as well as the total cost of the loan. Bank of Baroda personal loan interest rate for salary account holders can be lower than their quote rates, which can reduce the overall cost of loan and EMI. Lowest interest rate offered by Bank of Baroda is 10.50%. However, it is advisable to do complete market research and compare rates online before you apply for a loan.
  • Loan tenure – This is the period over which you can repay your loan in Bank of Baroda. So, your EMI will be lower if you take a 60months loan from Bank of Baroda as compared to a loan taken for 12months. The logic being that if you get a longer period to repay, you can repay in a smaller instalment.

Comparison of Bank of Baroda Personal Loan EMI with other Banks

Bank Name Interest Rate Loan Amount of ₹ 1 Lakh Loan Amount of ₹ 5 Lakh Loan Amount of ₹ 10 Lakh
Bank of Baroda10.50% ₹ 8,815 ₹ 44,074 ₹ 88,149
ICICI Bank 10.50% ₹ 8,815 ₹ 44,074 ₹ 88,149
Yes Bank 10.70% ₹ 8,824 ₹ 44,121 ₹ 88,242
Indian Overseas Bank 10.80% ₹ 8,829 ₹ 44,144 ₹ 88,288
Standard Chartered Bank 11.50% ₹ 8,862 ₹ 44,308 ₹ 88,615

Bank of Baroda Personal Loan Amortization Calculator

Bank of Baroda Personal Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. Bank of Baroda gives you a detailed amortisation schedule with the sanction letter and you can calculate the total interest outgo as well as the pace at which your loan amount will be repaid during the loan tenure.

How to read an amortization schedule

Suppose if you take a Personal Loan of ₹ 3 Lakh for 4 years from Bank of Baroda at an interest rate of 10.50%. EMI calculated for this loan amount is ₹ 7,681 and the total annual EMIs to be paid annually is ₹ 92,172. The EMI schedule of loan for 4 years is explained below in the table –

Amortization Schedule for a Personal Loan of ₹ 3 Lakh over the 4 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 17,432 ₹ 36,335 ₹ 53,767 ₹ 2,63,665
2022 ₹ 24,489 ₹ 67,683 ₹ 92,172 ₹ 1,95,982
2023 ₹ 17,030 ₹ 75,142 ₹ 92,172 ₹ 1,20,840
2024 ₹ 8,749 ₹ 83,423 ₹ 92,172 ₹ 37,417
2025 ₹ 988 ₹ 37,417 ₹ 38,405 ₹ 0

In the above illustration, on a Bank of Baroda Personal Loan of₹ 3 Lakh, taken at the lowest interest rate of 10.50, EMI paid is ₹ 7,681 and an annual total of EMIs is ₹ 92,172, the interest component is ₹ 28,493 while the principal component is ₹ 63,679 in year 1 of loan disbursement. You repay only 21.23% of the total principal after paying 12 EMIs during the first year.

Bank of Baroda Personal Loan Interest Calculator Formula

Bank of Baroda calculates personal loan EMI based on the following formula

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how Bank of Baroda Personal Loan EMI is calculated:

In the above formula,

P = Loan amount.Bank of Baroda personal loan amount can range from ₹ 50,000 to ₹ 5 Lakh.

r = Rate of interest per month. The current Bank of Baroda Personal Loan rate is 10.50%.
n = Tenure in month. This can range up to 60months in case of Bank of Baroda.

How to use Bank of Baroda Personal Loan EMI Calculator

  • Bank of Baroda personal loan calculator are online tool which give out EMI calculations using a combination of loan amount, interest rate and loan tenure.
  • Bank of Baroda EMI calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears meaning interest is charged for the month preceding the EMI payment date and not in advance.

Bank of Baroda Personal Loan EMI for ₹ 1 Lakh

The following table shows Bank of Baroda Personal Loan EMI for ₹ 1,00,000 for different tenures at an interest rate of 10.50%

Loan AmountInterest RateTenure(Year)EMI
₹ 1,00,00010.50% 1₹ 8,815
₹ 1,00,00010.50% 2₹ 4,638
₹ 1,00,00010.50% 3₹ 3,250
₹ 1,00,00010.50% 4₹ 2,560
₹ 1,00,00010.50% 5₹ 2,149

Bank of Baroda Personal Loan EMI for ₹ 3 Lakh

The following table shows Bank of Baroda Personal Loan EMI for ₹ 3,00,000 for different tenures at an interest rate of 10.50%.

Loan AmountInterest RateTenure(Year)EMI
₹ 3,00,00010.50% 1₹ 26,445
₹ 3,00,00010.50% 2₹ 13,913
₹ 3,00,00010.50% 3₹ 9,751
₹ 3,00,00010.50% 4₹ 7,681
₹ 3,00,00010.50% 5₹ 6,448

Bank of Baroda Personal Loan EMI for ₹ 5 Lakh

The following table shows Bank of Baroda Personal Loan EMI for ₹ 5,00,000 for different tenures at an interest rate of 10.50%.

Loan AmountInterest RateTenure(Year)EMI
₹ 5,00,00010.50% 1₹ 44,074
₹ 5,00,00010.50% 2₹ 23,188
₹ 5,00,00010.50% 3₹ 16,251
₹ 5,00,00010.50% 4₹ 12,802
₹ 5,00,00010.50% 5₹ 10,747

Bank of Baroda Personal Loan EMI for ₹ 10 Lakh

The following table shows Bank of Baroda Personal Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 10.50%.

Loan AmountInterest RateTenure(Year)EMI
₹ 10,00,00010.50% 1₹ 88,149
₹ 10,00,00010.50% 2₹ 46,376
₹ 10,00,00010.50% 3₹ 32,502
₹ 10,00,00010.50% 4₹ 25,603
₹ 10,00,00010.50% 5₹ 21,494

How to Pay Bank of Baroda Personal Loan EMI?

There are various online & offline methods to pay your Bank of Baroda Personal Loan EMI. To repay your Bank of Baroda EMI online, you can log in to your net banking account or else you can also use the mobile banking of Bank of Baroda. Bank of Baroda also allows you to pay EMI through ECI or standing instructions or a cheque facility by visiting the nearest Bank of Baroda branch.

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FAQs

Why should I calculate Bank of Baroda loan EMI before taking a loan?

It is advised to calculate personal loan EMI in advance before taking a personal loan. There are several benefits of calculating your Bank of Baroda personal loan EMI as discussed below -

  • In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount that fits your monthly budget and makes EMI easily affordable
  • If you already know the EMI you have to pay each month, then you can plan your expenses accordingly
  • Based on the EMI amount, you can opt for making prepayment of your personal loan in future when you have a surplus amount

What is the lowest EMI per lakh offered by Bank of Baroda on a personal loan?

Bank of Baroda offers a personal loan at a 10.50% interest rate for a maximum of 60 months, and hence lowest EMI per lakh loan amount is ₹ 2,149. However, Bank of Baroda may offer a lower interest rate and EMI for their salary account holders or existing bank customers can vary.

How can I pre-close Bank of Baroda personal loan?

You can pre-close your Bank of Baroda personal loan by visiting the branch with the required set of documents. Submit the form of preclosure, pay the amount and take the acknowledgement of the balance amount that you have paid.

What are the prepayment charges on Bank of Baroda ?

Bank of Baroda offers you an option of prepayment after 1 months at Nil.You have to pay these charges if you decide to pay the loan amount before the due date.

Is there any processing charge on a personal loan from Bank of Baroda?

Yes, Bank of Baroda charges a certain amount of processing fee to process your loan application. Currently, Bank of Baroda charges a processing fee of 2%, Min Rs. 250 on a Personal Loan.

Will I get a personal loan from Bank of Baroda if I have a bad credit score?

No, for taking a loan from Bank of Baroda, you must have a good credit score of 700 and above. Usually, most banks avoid giving loans if you have a low credit score.Also, availing a personal loan at low cibil score might fetch you a high Bank of Baroda personal loan rate.

What is the EMI for a₹ 20 Lakh personal loan in Bank of Baroda Bank?

At the current rate of 10.50%, EMI on Bank of Baroda personal loan for loan amount ₹ 20 Lakh varies based on the loan tenure. For instance, for 2 year, 3 year and 6 years, EMI is ₹ 2,13,067, ₹ 2,24,869 and ₹ 2,62,215 respectively.

Can I have a co-applicant while applying for a Personal loan with Bank of Baroda ?

Yes, you can opt for a co-applicant to take a personal loan from Bank of Baroda that will increase your loan eligiblity as the income of the co-applicant is also taken into account.

Can we pay more than EMI in Bank of Baroda personal loan?

If you have funds, then you can pay more than the regular EMI on your Bank of Baroda Personal Loan. This will reduce your interest burden along with the outstanding principal. You can also pay one additional EMI every year to reduce loan tenure and in turn interest amount.

How can I pay my Bank of Baroda loan EMI?

You can pay the Bank of Baroda personal Loan EMI by using the ECS facility or standing instruction. You can also visit the branch and submit the EMI cheque or can opt for automated deductions from your salary account.

Compare Personal Loan EMI of All Banks

Bank of Baroda Personal Loan Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Agra 0562-253567
Ahmedabad 1800-223-344
Ambala 1800-223-344
Anand 0265-2361852
Aurangabad Bihar 0832-224003
Bangalore 080-22224746
Bhilai 1800-223-344
Bhilwara 1800-102-4455
Bhiwadi 0832-224003
Bhopal 0755-556274
Bhubaneswar Cuttack 0674-2517435
Bikaner 1800-102-4455
Chandigarh 0172-701617
Chennai 044-23454249
Cochin 0484-4027903
Coimbatore 0422-2303735
Dehradun 05946-22178
Delhi 011-3319192
Durg 1800-223-344
Faridabad 0129-2412681
Gandhinagar 0265-2361852
Ghaziabad 0120-2790111
Goa 0832-224003
Greater Noida 011-3319192
Gurgaon 011-3319192
Guwahati 0361-2540475
Gwalior 1800-223-344
Hyderabad 1800-223-344
Indore 1800-223-344
Jabalpur 1800-223-344
Jaipur 0141-363056
Jalandhar 0172-701617
Jodhpur 0291-550084
Kanpur 0512-215655
Karnal 0172-701617
Kolhapur 0832-224003
Kolkata 1800-223-344
Kota 0291-550084
Kozhikode 0484-4027903
Lucknow 0522-206028
Ludhiana 0172-701617
Madurai 0422-2303735
Meerut 0562-253567
Mehsana 0265-2361852
Mohali Sas Nagar 0172-701617
Mumbai 022-22614706
Mussoorie 05946-22178
Nagpur 0712-527466
Nashik 0712-527466
Noida 011-3319192
Noida Extn 011-3319192
Panipat 1800-223-344
Patna 0612-2452336
Pondicherry 1800-223-344
Pune 020-5466917
Raipur 0771-526081
Rajkot 0281-225686
Ranchi 0657-2426802
Rohtak 1800-223-344
Roorkee 05946-22178
Salem 0422-2303735
Shimla 1800-223-344
Sonipat 1800-223-344
Surat 0261-3462216
Trichy 0422-2303735
Udaipur 0294-522203
Vadodara 0265-2361852
Varanasi 0542-2366349
Vijaywada 040-23421603
Vizag 040-23421603

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Bank of Baroda Personal Loan News - Jun 2021
  • 2021-06-01 : BOB reports net loss of Rs 1,046 cr in Q4
    Bank of Baroda reported a standalone net loss of Rs 1,046 crore for the March quarter (Q4FY21). It had posted a profit of Rs 506.6 crore in the same period last year (Q4FY20). The lender’s advances which includes retail loans home, LAP, personal, two wheeler, car education and doctor loan along business and mudra loan grew by 4.9% to Rs 6.4 trillion during the March quarter. Further domestic deposits which includes fixed and recurring deposits rose 6.2% to Rs 8.6 trillion.
  • 2021-05-19 : Bank of Baroda to hire digital marketing agencies to increase customer outreach
    Bank of Baroda is looking to hire three digital marketing agencies. The bank is aiming to visible digitally through means such as YouTube, influencer tie-ups, content syndications as well as new age media opportunities. The digital marketing firm will also be required to create content through campaigns, mobile-first based content, blog--articles, infographics, gifs and videos.
  • 2021-03-17 : BOB to focus on new digital platform to expand retail lending
    Bank of Baroda is planning to expand its retail loans portfolio which include home, personal, LAP, gold, two-wheeler and car loans through a self made digital lending platform. The digital platform assesses credit risk through varied public and private data points like bank account statements, tax statements and consumption trends.
  • 2021-01-28 : Bank of Baroda reported Q3 net profit of ₹1,061 crore
    Bank of Baroda posted a net profit of ₹1,061 crore backed by home, personal, car, two-wheeler and gold loans along with business and mudra loans for the third quarter ended December 31, 2020 as compared to a net loss of ₹1,407 crore due to a sharp reduction in provisioning for bad loans. Total income was lower at ₹20,664 crore as compared to ₹21,809 crore in the year earlier.
  • 2020-10-30 : Bank of Baroda Q2 profit surges 128%
    Bank of Baroda reported a net profit of ₹1,679 crores for the quarter ending 30 September. Net interest income during the quarter grew by 6.8% to ₹7,508 crores. The consolidated net profit stood at ₹1,771 crores in the September quarter. Further, the advances backed by retail loans like home, personal, car, two-wheeler and gold loans along with business and mudra loans increased by 5.3%. CASA ratio increased to 39.78%, up by 190 bps year-on-year.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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