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Compare RBL Bank vs Bank of Baroda Personal Loan

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Bank
Interest Rate
Interest Rate
14.00% - 23.00%
8.30% - 16.55%
Processing Fees
Processing Fees
Upto 3.5%
2%, Min Rs. 250
Loan Amount
Loan Amount
₹ 1 Lakh to ₹ 20 Lakh
₹ 50,000 to ₹ 5 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,327
₹ 2,042
Part Payment Charges
Part Payment Charges
Not Allowed
Not Allowed
Foreclosure Charges
Foreclosure Charges
Allowed after 18 months at 3%-5%
Allowed after 1 month at Nil
Eligible Age
Eligible Age
25 to 60 Years
21 to 60 Years
Minimum Income
Minimum Income
₹ 25,000
₹ 20,000
Current Work Experience
Current Work Experience
12 Months
12 Months
Total Work Experience
Total Work Experience
36 Months
36 Months
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.5/5.0
4.5/5.0
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Compare Personal Loan EMI of RBL Bank and Bank of Baroda

Loan Amount RBL Bank Bank of Baroda
₹ 1 Lakh ₹ 2,327 ₹ 2,042
₹ 5 Lakh ₹ 11,634 ₹ 10,210
₹ 10 Lakh ₹ 23,268 ₹ 20,420
₹ 12 Lakh ₹ 27,922 ₹ 24,504

Which is a better bank for Personal Loan – Bank of Baroda or RBL Bank?

Bank of Baroda offers lower Personal Loan EMI at Rs. 2042 for 60 Months compared to RBL Bank with a minimum EMI of Rs. 2327 for 60 Months. In addition, average customer ratings for Bank of Baroda is currently at 4.5/5.0, making it a good choice for taking a Personal Loan.

How does Bank of Baroda Personal Loan compare with RBL Bank Personal Loan?

It is important to make a detailed comparison of Bank of Baroda and RBL Bank on all loan terms and conditions to understand their differences and make an informed decision. Keep in mind that each bank’s scheme has its pros and cons that have to be evaluated before choosing the best offer. Some of the key results of the comparison between the two banks are:

  • Lowest Interest rate of Bank of Baroda Loan is 8.30%, which is lower than the lowest interest rate of RBL Bank at 14.00%. Hence, Bank of Baroda is offering a cheaper loan option.
  • Compared to other Personal Loan charges such as processing fees, RBL Bank charges a processing fee of Upto 3.5%, while Bank of Baroda charges a processing fee of Upto 2%, Min Rs. 250.
  • RBL Bank offers Personal Loan upto an amount of ₹ 20 Lakh, while Bank of Baroda offers Loan upto an amount of ₹ 5 Lakh. Therefore, RBL Bank can be a better option if you are looking for a high value amount.
  • One feature that makes Personal Loan a better option is the foreclosure facility. Bank of Baroda gives the option to close the loan after 1 months at Nil and RBL Bank gives the option to close the loan after 18 months at 3%-5%. This makes Bank of Baroda a better option for Personal Loan.
  • Bank of Baroda with an average customer rating of 4.5 is equally comparable to RBL Bank with an average customer rating of 4.5. Hence, the customer can expect the same kind of service levels from these banks.

Which bank offers a lower interest rate on Personal Loan – Bank of Baroda or RBL Bank?

As per the current rates, Bank of Baroda offers a lower interest rate of 8.30% on loans compared to RBL Bank, which offers a Personal Loan at 14.00%.

Know more about RBL Bank Personal Loan

Know more about Bank of Baroda Personal Loan

Compare RBL Bank Personal Loan With Other Banks

Compare Bank of Baroda Personal Loan With Other Banks

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Personal Loan News - Jun 2022
  • 2022-05-13 : Punjab National Bank Increases Personal Loan Rates
    The bank has increased the rates by 40 basis points, and after the revision, the bank offers personal loans starting from 8.85% to 14.85%.
  • 2022-05-13 : South Indian Bank Posts all-time High Net Profit in Q4
    The Bank has posted an all-time high net profit of ₹272 crores for Q4 in FY 22 against ₹6.79 crores during the corresponding period of the previous year.
  • 2022-05-13 : Ujjivan Small Finance Bank Profit Falls by 7% for Q4
    The bank has reported a 7 percent fall in its net profit to Rs 126.5 crore. Earlier, the bank had posted a net profit of Rs 136 crore in the same quarter of the preceding fiscal year 2020-21.
  • 2022-05-12 : Indian Bank Revises Personal Loan Rates
    Indian Bank has increased the rates on personal loans, and as a result, the bank offers the lowest rates starting at 8.90% to upto 9.40%.
  • 2022-05-10 : Canara Bank Hikes Personal Loan Interest Rates
    The bank has increased the lowest personal loan rates from 12.40% to 12.80%.
*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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