Calculate your monthly EMI, total interest, and full amortization schedule for a Bank of Baroda loan based on the loan amount, interest rate, and tenure.
Bank of Baroda loan interest rates vary by loan type, tenure, and your credit profile. Enter your sanctioned or applicable rate — check bankofbaroda.in or your branch for current rates.
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This general-purpose Bank of Baroda EMI calculator estimates the monthly EMI, total interest, and total repayment for any Bank of Baroda loan — personal loan, car loan, business loan, education loan, or any other term lending product. Enter the loan amount, interest rate, and tenure to instantly see the EMI and a full amortization schedule. Bank of Baroda is one of India's largest public sector banks, regulated by the Reserve Bank of India, with a presence across all major cities and a wide range of retail and business loan products.
Bank of Baroda uses the monthly reducing balance method for all retail term loans. Each monthly EMI covers the interest due on the outstanding principal plus a principal repayment — as principal reduces, the interest component of each EMI decreases progressively.
Formula: EMI = [P × R × (1 + R)N] ÷ [(1 + R)N − 1], where P = loan amount, R = monthly interest rate (annual rate ÷ 12 ÷ 100), N = total number of EMIs.
Example: ₹5,00,000 Bank of Baroda loan at 10% per annum (example rate — enter your Bank of Baroda sanctioned rate), 5-year tenure: Monthly EMI ≈ ₹10,623.60. Total interest ≈ ₹1,37,416.03. Total repayment ≈ ₹6,37,416.03. (Note: actual rates depend on the loan type and your credit profile.)
Bank of Baroda (BoB) offers a comprehensive range of retail and business lending products. Major loan categories include: home loans (Baroda Home Loan, linked to RLLR), car loans (Baroda Car Loan), personal loans (Baroda Personal Loan), education loans (Baroda Education Loan), gold loans, loan against property, two-wheeler loans, and various business and MSME loan schemes. As a public sector bank, Bank of Baroda is characterised by competitive interest rates (particularly for secured products), government-backed scheme participation (PMAY, Kisan Credit Card, MUDRA loans under Pradhan Mantri MUDRA Yojana), and a strong rural and semi-urban presence. For retail and MSME loans, Bank of Baroda now uses the RLLR (Repo Linked Lending Rate) as the base rate, ensuring that RBI rate changes are transmitted to borrowers within the same quarter. BoB also participates in the Pradhan Mantri MUDRA Yojana for small business loans — offering Shishu (up to ₹50,000), Kishore (₹50,000 to ₹5 lakh), and Tarun (₹5 lakh to ₹10 lakh) category loans to micro-enterprises and individual entrepreneurs. The bank\'s digital channels (bob World app and internet banking) allow customers to check eligibility, apply for select loans, and manage existing loan accounts online. Bank of Baroda's merger with Vijaya Bank and Dena Bank (completed in 2019) has significantly expanded its branch network, making it the second-largest public sector bank in India by branch count after State Bank of India.
Bank of Baroda offers a wide range of retail and business loans: home loans (Baroda Home Loan), car loans (Baroda Car Loan), personal loans, education loans, gold loans, two-wheeler loans, loans against property, and credit cards. For businesses and entrepreneurs: MSME loans, MUDRA loans (under PM MUDRA Yojana — Shishu, Kishore, Tarun), working capital loans, Kisan Credit Card for farmers, and equipment finance. BoB also participates in government-backed subsidy schemes for priority sectors. Check bankofbaroda.in for the current full product list and eligibility.
Bank of Baroda provides online loan eligibility calculators on its website (bankofbaroda.in) for home loans and car loans. Key factors for eligibility include: CIBIL score (typically 700+ required, 750+ for best rates); stable income with 2+ years of employment history; FOIR (Fixed Obligation to Income Ratio) below 50-55%; age between 21-65 years; and for secured loans, property or collateral value. For MUDRA and agriculture loans, income documentation requirements differ. Use the BoB World app to check pre-approved loan offers for existing customers.
Pradhan Mantri MUDRA Yojana (PMMY) loans from Bank of Baroda are collateral-free loans for micro and small business owners under three categories: Shishu (up to ₹50,000 for early-stage businesses), Kishore (₹50,001 to ₹5 lakh for businesses seeking growth funding), and Tarun (₹5 lakh to ₹10 lakh for established MSMEs seeking expansion). MUDRA loans are intended for non-agricultural income-generating activities, manufacturing, trading, and services. They are collateral-free and covered under the CGTMSE guarantee scheme, making them accessible to borrowers who may not have assets to pledge.
For floating rate retail loans (home loans, car loans linked to RLLR), Bank of Baroda does not charge prepayment or foreclosure fees for individual borrowers per RBI guidelines. For fixed rate loans (personal loans, education loans with fixed rates), prepayment charges may apply — typically 2-3% of the prepaid amount. For MSME and business loans, prepayment terms vary by product. Always check the specific loan agreement for foreclosure charges before proceeding with early repayment.
Yes — Bank of Baroda offers NRI (Non-Resident Indian) home loans through its NRI banking division for the purchase, construction, or renovation of residential property in India. NRI home loan eligibility is based on overseas income (converted to INR), employment status, and credit history. NRIs can apply online and the loan is repaid through NRE (Non-Resident External) or NRO (Non-Resident Ordinary) accounts. BoB has a dedicated NRI banking team with branches and desks across major NRI-origin cities in India and representative offices in NRI destination countries.
MCLR (Marginal Cost of Funds Based Lending Rate) was BoB's internal benchmark rate until 2019 — set by the bank itself based on its cost of funds, with quarterly or annual resets. RLLR (Repo Linked Lending Rate) is the current benchmark for new retail and MSME loans (mandated by RBI from October 2019) — it is directly linked to the RBI Repo Rate, so RBI rate changes pass through within one quarter. RLLR provides faster and more transparent rate transmission compared to MCLR. Borrowers on old MCLR-linked loans can request a switch to RLLR, subject to applicable conversion fees.
Disclaimer: This calculator is an independent tool and is not affiliated with or endorsed by Bank of Baroda. Interest rates and eligibility criteria shown are examples only. Actual loan terms depend on Bank of Baroda's prevailing rates (linked to RLLR for most retail loans), your CIBIL score, income, and loan type. Always verify current rates and terms at bankofbaroda.in or at a Bank of Baroda branch before applying.