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Bank of Baroda Personal Loan Calculator

Bank of Baroda Personal Loan EMI Calculator, Dec 2021

Last Updated 25th Nov 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 ₹ 2,125 per lakh on Bank of Baroda Bank personal loan as calculated using the lowest interest rate of 10.00% 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₹ 8,792₹ 3,227₹ 2,125
₹ 5 Lakh₹ 43,958₹ 16,134₹ 10,624
₹ 10 Lakh₹ 87,916₹ 32,267₹ 21,247

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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 10.00% to 15.60%.
  • 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 10.00%. 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 10.00%.

Loan Amount (Rs.)2 Years3 Years5 Years
1 Lakh ₹ 4,614 ₹ 3,227 ₹ 2,125
3 Lakh ₹ 13,843 ₹ 9,680 ₹ 6,374
5 Lakh ₹ 23,072 ₹ 16,134 ₹ 10,624
10 Lakh ₹ 46,145 ₹ 32,267 ₹ 21,247

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 10.00%. 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 Baroda10.00% ₹ 8,792 ₹ 43,958 ₹ 87,916
HDFC Bank 10.25% ₹ 8,803 ₹ 44,016 ₹ 88,032
Kotak Bank 10.25% ₹ 8,803 ₹ 44,016 ₹ 88,032
ICICI Bank 10.25% ₹ 8,803 ₹ 44,016 ₹ 88,032
IDFC First Bank 10.49% ₹ 8,814 ₹ 44,072 ₹ 88,144

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 ₹ 3.50 Lakh for 4 years from Bank of Baroda at an interest rate of 10.00%. EMI calculated for this loan amount is ₹ 8,877 and the total annual EMIs to be paid annually is ₹ 1,06,523. The EMI schedule of loan for 4 years is explained below in the table –

Amortization Schedule for a Personal Loan of ₹ 3.50 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 ₹ 2,917 ₹ 5,960 ₹ 8,877 ₹ 3,44,040
2022 ₹ 31,005 ₹ 75,518 ₹ 1,06,523 ₹ 2,68,522
2023 ₹ 23,097 ₹ 83,426 ₹ 1,06,523 ₹ 1,85,096
2024 ₹ 14,362 ₹ 92,161 ₹ 1,06,523 ₹ 92,935
2025 ₹ 4,711 ₹ 92,935 ₹ 97,646 -₹ 0

In the above illustration, on a Bank of Baroda Personal Loan of₹ 3.50 Lakh, taken at the lowest interest rate of 10.00, EMI paid is ₹ 8,877 and an annual total of EMIs is ₹ 1,06,523, the interest component is ₹ 31,629 while the principal component is ₹ 74,894 in year 1 of loan disbursement. You repay only 21.4% 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 10.00%.
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 10.00%

Loan AmountInterest RateTenure(Year)EMI
₹ 1,00,00010.00% 1₹ 8,792
₹ 1,00,00010.00% 2₹ 4,614
₹ 1,00,00010.00% 3₹ 3,227
₹ 1,00,00010.00% 4₹ 2,536
₹ 1,00,00010.00% 5₹ 2,125

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 10.00%.

Loan AmountInterest RateTenure(Year)EMI
₹ 3,00,00010.00% 1₹ 26,375
₹ 3,00,00010.00% 2₹ 13,843
₹ 3,00,00010.00% 3₹ 9,680
₹ 3,00,00010.00% 4₹ 7,609
₹ 3,00,00010.00% 5₹ 6,374

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 10.00%.

Loan AmountInterest RateTenure(Year)EMI
₹ 5,00,00010.00% 1₹ 43,958
₹ 5,00,00010.00% 2₹ 23,072
₹ 5,00,00010.00% 3₹ 16,134
₹ 5,00,00010.00% 4₹ 12,681
₹ 5,00,00010.00% 5₹ 10,624

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 10.00%.

Loan AmountInterest RateTenure(Year)EMI
₹ 10,00,00010.00% 1₹ 87,916
₹ 10,00,00010.00% 2₹ 46,145
₹ 10,00,00010.00% 3₹ 32,267
₹ 10,00,00010.00% 4₹ 25,363
₹ 10,00,00010.00% 5₹ 21,247

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.

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. For instance, if you want to avail Bank of Baroda personal loan at the lowest rate of 10.00% and your monthly EMI, which comes out at ₹ 2,125 is more than your monthly budget. You have the chance to apply for a lower loan amount that fits your monthly budget and makes EMI easily affordable. In addition, if you already know the EMI you have to pay each month, you can plan your expenses accordingly. Finally, based on the EMI amount, you can opt to make a prepayment of your loan in the 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 10.00% interest rate for a maximum of 60 months, and hence lowest EMI per lakh loan amount is ₹ 2,125. However, Bank of Baroda may offer a lower interest rate to you if you hold your salary account with the bank or if you are an existing customer.

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 10.00%, 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 ₹ 2,22,653, ₹ 2,34,461 and ₹ 2,71,736 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 - Dec 2021
  • 2021-11-11 : Bank of Baroda Reports Profit in Q2
    Bank of Baroda has reported a 24% year-on-year rise in standalone profit for quarter two. As a result, the profit increased from ₹1,679 crore to ₹2,088 crores.
  • 2021-10-20 : Bank of Baroda Increases Personal Loan Rates
    Bank of Baroda has increased personal loan rates by 25 basis points. The new personal loan rates stand at 10.00%.
  • 2021-10-07 : Bank of Baroda Decreases Personal Loan Rates
    Bank of Baroda has decreased personal loan rates by 25 points to 9.75%. Earlier the personal loan started at 10.00%.
  • 2021-09-24 : Bank of Baroda Revises Personal Loan Rates
    The lowest personal loan rates of Bank of Baroda starts at 10.00%. Earlier, the bank was providing a personal loan at a minimum rate of 10.50%.
  • 2021-08-09 : Bank of Baroda posts Q1 profit of Rs 1,209 crore
    Bank of Baroda has clocked a standalone profit after tax of Rs 1,209 crore in the quarter ended in June 2021 on higher growth in net interest income (NII) and lower provisioning for bad loans. The bank reported a net loss of Rs 864 crore on a standalone basis in the corresponding quarter of the previous fiscal.
*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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