Need money suddenly? Don’t extend your hand to anyone! Bank of Baroda is giving loan of ₹ 50,000 in 5 minutes, that too without paper!

Be it a wedding at home, a medical emergency or a child’s school fees have to be paid… a sudden need for money can arise at any time in life. In such a situation, we often do not like asking for loan from friends and relatives.

But what if we say that now you do not need to extend your hand to anyone? You can get a loan of up to ₹ 50,000 in just 5 minutes from your mobile sitting at home, without giving any paper, without visiting the bank!

This is not a dream, but a wonderful facility of Bank of Baroda, named ‘Pre-Approved Personal Loan’.

What is this ‘pre-approved’ loan affair?

Understand it in very simple language. This is a ‘VIP’ offer from the bank for its good customers. Seeing your good transactions and clean records, the bank already keeps a loan amount ready for you.
It’s as if the bank is saying to you, “You are our trusted customer, so we have already kept the money ready for you, just take it when you need it!”

• No Paper: You do not need to submit salary slip, ITR or any other paper.
• No need to go anywhere: the entire work is done 100% online.
• Money in account instantly: As soon as you say ‘yes’, money is transferred directly to your bank account.

Who are those ‘lucky’ customers who get this facility? (eligibility)

To get this “5 minute loan” you just have to fulfill a few simple conditions:

1. You must be an existing customer of Bank of Baroda (at least 6 months old).
2. Your credit score (CIBIL) should be good.
3. The bank itself informs such selected customers about this offer by sending SMS or email.

How to check whether you have received this offer or not? (application system)

It’s child’s play to check and apply:

1. Through SMS: You can also start this process by sending SMS from your registered mobile number to a specific number.
2. From the mobile app (bob World) (the easiest way):
   • Login to your ‘bob World’ app.
   • Go to the section ‘Digital Loan’.
   • There you will see the option of ‘Pre-Approved Personal Loan’, click on it.
   • Choose the amount you want and how long you want to repay.
   • That’s it, your work is done! The money will come to your account immediately.

What is the calculation of EMI and interest?

The interest rate on this loan is usually slightly lower than a regular personal loan. If you take a loan of ₹50,000 for 18 months (one and a half years), your monthly EMI will be around ₹3,000.

This facility is truly a boon for common people who suddenly need money. If you are also a Bank of Baroda customer, then check your ‘bob World’ app today, who knows, your ’emergency fund’ may be waiting for you right there!