Retail Loans

Retail Loans

Personal Loan Plan

Personal Loan Plan

  • Annual Interest Rate: 8.00% Fixed.
  • Minimum £1,000 with Maximum of £ 15,000
  • Personal Purposes other than Speculation/Gambling.
  • Period 12 to 60 months. (Instalments & interest payable monthly)

Credit Plan for High Income Bracket Employees

  • Annual Interest Rate: 8.00% Fixed.
  • Minimum £15,000 with Maximum of £ 50,000
  • Purchase of consumer goods/to meet personal needs other than speculation/gambling.
Credit Plan for High Income Bracket Employees
Loan for Financing Professional in UK

Loan for Financing Professional in UK

  • Annual Interest Rate: 8.00% Fixed.
  • Minimum £15,000 with Maximum of £ 50,000
  • Purchase of office equipments, computers & fittings, interior decoration, motor vehicles, professional books or any other personal needs other than speculation/gambling.

Assessing the Affordability

Before lending money to consumer, bank will assess whether the consumer can afford to pay the loan by considering following

  • The type and amount of loan
  • Income level of consumers
  • Financial commitments such as Food, Grocery, Electricity, Telephone/Mobile & internet, Council tax & other holiday expenses, school fees, loan insalments of existing & proposedand any other expenses which affects the loan repayments.
  • Information held by credit reference agency
  • How the consumer handles finances in the past
  • Bank may ask any other question which deemed necessary from case to case basis

Help if you are Experiencing Financial Difficulties

Bank shall consider sympathetically and positively, if you are experiencing financial difficulties, for which consumer must approach the bank and express their difficulties in writing withaction plans.

There are also a number of places that provide free and impartial debt advice. These organisations are not associated with Bank of Baroda and can help you to manage your debt problems.

Contact Us

Chief Manager/Senior ManagerCredit Department Bank of Baroda

  • Group Control Office32 City Road, London, EC1Y 2BD

  • credit.uk@bankofbaroda.com+44 (0) 20 7457 1526

  • Monday to Friday9:30 A.M. to 5:00 P.M.

What if there is Default in Repayment?

The monthly payments worked are based on assumption that the borrower repays regularly every month on the respective due dates. In the event of delay/default in monthly repayments, the interest amount payable at contracted rate could vary.

If you miss multiple repayments, your credit rating may be affected in future and you might have legal proceedings brought against you.

To avoid getting into this situation, please contact us if you are having difficulties in making your repayments.

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