Consolidation Loans from Bank of Baroda

Different Loans for Different People

As one of the largest public sector banks in India, Bank of Baroda (BoB) offers a range of financial products to different segments of its customer base. BoB offers different loan options for its business and retail customers. You can choose from a range of loans that are specifically suited for your different needs.

Bank of Baroda Consolidation Loans

BoB understands that their retail customers can sometimes cross their spending limits because of medical emergencies, personal financial needs, holidays, or even to buy some important but expensive items and end up with a substantial amount of debt. It may range from a few extra thousand rupees to lakhs spread across credit cards, personal loans, travel loans, education loans and so on.

The bank offers consolidation loans to help people deal with these debts effectively. These loans help BoB customers consolidate and pay off all their debts by using a single loan. This consolidation loan can be an unsecured loan like a personal loan or a secured loan like a loan against property, gold or securities. Consolidation loans are lifesavers and help you pare down your debt and live a stress-free life.

Like most Indian banks, BoB does not brand a specific loan scheme as a consolidation loan. However, there are quite a few loans that can be used to consolidate your debt. For instance, they include:

  1. Personal Loan
  2. Mortgage Loan
  3. Loan Against Securities
  4. Loan Against Gold Ornaments/Jewellery
  5. Advance Against Securities

We give you a brief introduction to each of these consolidation loans below. In addition, you have the option to click further and read in detail about each loan (the link takes you to another page on our website). This specific page has been specifically designed so that you can get all the information you need on that loan in an uncluttered and easy-to-read format.


Please note that in some cases information is less or simply not available. In such instances, we have not been able to create a page on that loan as yet, but we may do so in the future if information becomes available.

Bank of Baroda Personal Loan Scheme

This loan helps borrowers get access to funds to meet their urgent financial needs. While a personal loan can be used to meet urgent expenses such as wedding expenses, travel expenses, medical expenses and so on, it can also be used to consolidate debts. Borrowers can avail this scheme as a consolidation loan and pay off their high-interest loans such as credit card debts or other loans, thereby reducing their overall debt.

Features of Personal Loan from Bank of Baroda

Why this Loan?


  • The Bank of Baroda Personal Loan is meant for borrowers who need financial assistance to meet urgent needs. It can also be availed to consolidate and pay off credit card debt and other high-interest loans
  • The bank offers this loan to salaried applicants with a minimum continuous service of one year and self-employed professionals who have experience or practice of at least one year. Applicants, salaried or self-employed, who have maintained a satisfactory account relationship with the bank for at least 6 months are eligible for this loan
  • This is an unsecured loan

Bank of Baroda Mortgage Loan Scheme

This loan helps borrowers get access to funds by mortgaging their property to meet their financial needs. While a mortgage loan can be used to meet financial expenses such as a wedding, foreign travel, house repairs and so on, it can also be used to consolidate debts. The bank offers this loan to salaried applicants with a minimum continuous service of three years and self-employed professionals who have experience or practice of at least three years. This loan cannot be availed for speculative purposes.

Features of Mortgage Loan from Bank of Baroda

Why this Loan?

  • The Bank of Baroda Mortgage Loan is meant for borrowers who need assistance to meet financial needs other than for speculative purposes
  • Being a secured loan, borrowers can avail this scheme as a consolidation loan and pay off their high-interest credit card debts and loans, hence consolidating their debts
  • It can be availed as an overdraft (for resident Indians only), a demand loan or a term loan

Bank of Baroda Loan Against Securities

This loan helps borrowers access the bank’s funds by pledging their securities such as National Savings Certificate (NSC), Life Insurance policy, Govt. bonds or Kisan Vikas Patra (KVP) with the bank. While this secured loan can be used to meet any financial needs such as a wedding, overseas travel, personal expenses and so on, it can also be used to consolidate high-interest debts. This loan cannot be availed for speculative purposes.

Features of Loan Against Securities from Bank of Baroda

Why this Loan?

  • The Bank of Baroda Loan Against Securities is meant for borrowers who want to avail financial assistance by pledging their securities to meet their financial needs
  • Being a secured loan, borrowers can avail this scheme as a consolidation loan and pay off their high-interest credit card debts and loans, hence consolidating their debts into a single, easy-to-manage loan

Bank of Baroda Loan Against Gold Ornaments and Jewellery

This loan helps borrowers get access to funds by pledging their gold jewellery and gold coins. This secured loan can be used to meet any financial needs such as a wedding, overseas travel, etc. as well as to consolidate high-interest debts.

Features of Loan Against Gold Ornaments and Jewellery from Bank of Baroda

Why this Loan?

  • The Bank of Baroda Loan Against Gold Ornaments/Jewellery is meant for borrowers who want to avail financial assistance by pledging gold jewellery/coins to meet their financial needs
  • Being a secured loan, borrowers can avail this scheme as a consolidation loan and pay off their high-interest credit card debts and loans, thereby consolidating their debts
  • It is sanctioned as a demand loan with a one-time disbursement
  • There are no pre-payment or part-payment charges on this loan

Bank of Baroda Advance Against Securities

This loan helps borrowers get access to funds by pledging their securities such as shares, debentures, bonds, debt-oriented mutual funds, etc. to the bank. While this loan can be used to meet any contingencies and personal needs such as a wedding, overseas travel and so on, it can also be used to consolidate your high-interest debts. This loan cannot be availed for speculative purposes.

Features of Baroda Advance Against Securities

Why this Loan?

  • The Bank of Baroda Advance Against Securities is meant for borrowers who want to avail financial assistance by pledging shares, debentures, bonds, etc. for financial exigencies
  • Being a secured loan, borrowers can also avail this scheme as a consolidation loan and pay off their high-interest credit card debts and loans, hence consolidating their debts
  • It is sanctioned as an overdraft

Important Note: Bank of Baroda may offer more consolidation loan options that are not yet published on the website. If you prefer we suggest that you get in touch with the nearest branch to check the loan schemes they offer. This will also help you get a custom quote since many loan schemes are need-based and certain charges such as application charges, service charges, strategic premium, etc. may be decided on a case-to-case basis.

Interest Rate for Bank of Baroda Consolidation Loans

  • The applicable interest rate on these loans is defined as the sum of two factors namely, Baroda Repo Linked Lending Rate (BRLLR) and Credit Risk Premium

Documents Needed for Individuals (Salaried and Self-employed)

  • Loan Application Form duly filled and signed by the applicant and co-applicant, if any
  • Two Passport Size Photographs of applicant and co-applicant
  • Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
  • Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
  • Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income/Banking Proof for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns
  • Income/Banking Proof for Self-employed Professionals/Insurance Agents: Computation of income of last 2 years, Balance Sheet, Profit and Loss Account, Registration Certificate, GST Return, Income Tax Challan/ Form 26AS/TDS Certificate, IT Assessment, etc.

Documents Needed for Proprietorship and Partnership Firms

  • Loan Application Form duly filled and signed
  • Partnership Deed and Partnership Registration Certificate
  • ID Proof of the Firm: Firm PAN Card or PAN Issuing Letter
  • Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income Proof: CMA Data and Project Report, Debtors and Creditors Certificate, GST Return, Last 3 years ITR of applicant and co-applicant, Audited or CA Certified Computation of Income/Trading Account/Profit and Loss Account/Balance Sheet, Annual Audit Report and Tax Audit Report if audited, Form 16A if applicable, Net Worth of applicants, co-applicants and guarantors
  • Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account

Reference Facts

  • Bank of Baroda Website: www.bankofbaroda.com and www.bobibanking.com (net banking)
  • Headquarters: Baroda (Vadodara), Gujarat
  • Call Centre Toll-Free Number: 1800 223 344, 1800 102 4455