Public Sector Bank (PSU)Self-Employed & Tradersunsecured

Baroda Personal Loan for Self-Employed

बड़ौदा पर्सनल लोन (स्वरोजगार)

Bank of Baroda personal loan for self-employed professionals and business owners up to ₹15 Lakhs.

Max Loan Amount

₹50,000 to ₹15,00,000

Interest Rate

11.95% - 16.25% p.a. (floating BRLLR-linked)

Tenure

12 to 60 months

Processing Fee

1.50% to 2.00% of loan amount + GST (Min ₹1,500, Max ₹15,000 + GST)

✦ What It Is: Product Architecture & Regulatory Scope

Unsecured credit facility provided by Bank of Baroda to self-employed professionals, traders, proprietors, and enterprise promoters to support personal liquidity or working overheads.

What is Missing: Honest MITC Policy Gaps, Hidden Clauses & Extra Charges

Eligo consumer protection notice: Bank brochures, DSA telecallers, and comparison portals rarely disclose these conditions. Read carefully before signing.

• Minimum 3 years of audited financials and continuous business operations. • Minimum annual taxable income of ₹3 Lakhs as per latest ITR. • Physical business premises inspection conducted by bank field officer.

✦ Key Benefits & Features

• High loan quantum up to ₹15 Lakhs without hypothecation • Repayment tenure up to 5 years (60 months) • Transparent Repo-linked pricing structure • Preferential terms for professionals like Doctors, CAs, and Architects.

✦ Prepayment, Part-Payment & Foreclosure Rules

NIL if closed from own business funds; 2% for takeover.

✦ Eligibility Requirements

Self-employed professionals and business owners with at least 3 years business continuity and taxable income >= ₹3 Lakhs/year. Min Age: 25, Max Age: 65. Min CIBIL: 720.

Min Age25 Years

Max Age65 Years

Min Monthly Income₹25,000

Min CIBIL Score720+

✦ Documents Required

• Identity & Address: PAN, Aadhaar, Business Proof • Financial Proof: Last 3 years ITR-V with Computation of Income, Audited P&L and Balance Sheet • Bank Statement: Last 12 months current account statements.

✦ Exact How-To-Apply Process (3 Pathways)

Depending on your current relationship with the bank, select the corresponding application journey:

Pathway A

Existing / Pre-Approved Customers

1. Log into bob World internet banking. Submit self-employed loan application and upload ITR-V.

Pathway B

New Online Applicant (Fresh Digital)

1. Apply on bankofbaroda.in > Self-Employed Loan. Upload GST certificate and last 2 years financial statements.

Pathway C

Branch Walk-In Application

1. Visit nearest BOB branch with 3 years ITR, P&L statement, balance sheet, and 12 months current account statements.

Official Sourcing & MITC Verification

180-Day Re-Verification SLA · Last Verified: 2026-09-28

Eligo does not collect personal loan applications, sell user data to DSA telecallers, or receive affiliate commissions. All terms shown are extracted directly from official bank circulars, Most Important Terms and Conditions (MITC), and Key Fact Statements (KFS) under RBI guidelines.

Visit Official Lender Portal (Bank of Baroda Official Portal)View Official MITC / Schedule of Charges RBI Key Fact Statement (KFS) Reference

Frequently Asked Questions on Baroda Personal Loan for Self-Employed

What is the minimum business vintage needed?

At least 3 years of continuous operation in the same line of business.

Is collateral required?

No collateral or third-party guarantee is mandatory for eligible applicants.

Are CA-audited financials compulsory?

Yes, audited P&L and balance sheets are required for loan amounts exceeding ₹5 Lakhs.