Bank of Baroda Home Loan

Posted in: default | on: February 23, 2021

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Bank of Baroda offers home loan at affordable interest rates starting from 6.85% per annum onwards with the repayment tenure of up to 30 years. The home loan products offered in Bank of Baroda comes with various special features and benefits for aspiring home owners. It offers home loan up to Rs.10 crore with low processing fee of 0.25% of the loan amount. For home loans with floating rate, there is no prepayment charges.

What are the features and benefits of Bank of Baroda Home Loan?

Some of the features and benefits of Bank of Baroda home loan are,

  • Lower interest rate starting from 6.85% p.a
  • Repayment tenure available up to 30 years
  • Minimal processing charges
  • No pre-closure and part payment charges
  • Higher loan amount up to Rs.10 crore
  • Top-up loan available up to a maximum of five times
  • No guarantor required
Interest Rate 6.85% p.a onwards
Loan Amount Rs. 1 lakh to Rs.10 crore
Maximum Loan Tenure Up to 30 years
Processing Fees 0% - 0.50%
Pre-payment/Foreclosure charges Nil
Rate Package Floating rate

What are the interest rates for Bank of Baroda Home Loan?

Bank of Baroda offers home loan at best interest rates to make you own home of your dreams. The interest rate is linked to Baroda Repo Linked Lending Rate (BRLLR) of the bank and it is reset from time to time. The interest rates for different home loan products of Bank of Baroda are given below.

Bank of Baroda Home Loan Products        Interest Rate (p.a)
Baroda Home Loan  6.85% to 8.20%
Baroda Home Improvement Loan  6.85% to 8.20%
Baroda Home Loan Advantage  6.85% to 8.45%
Baroda CRE Home Loan  7.10% to 8.45%
Baroda CRE Home Loan (Advantage)  7.10% to 8.70%
Baroda Top Up Loan  7.70%
Baroda Ashray  9.20% onwards

What are the home loan products available in Bank of Baroda?

Bank of Baroda offers different home loan products to meet your housing requirements. The home loan products and its features are given below.

Baroda Home Loan

  • This product is ideal for purchasing new/old home, building your own home or buying a plot.
  • The maximum loan amount is Rs. 1 crore for semi-urban and rural areas and Rs.5 crores to Rs.10 crores for metro cities.
  • The processing fee for loan up to Rs.50 lakhs is 0.50% of the loan amount and for loan above Rs. 50 lakhs is 0.25% of the loan amount.
  • Both resident and non-resident Indians are eligible for this home loan.

Baroda Home Loan Advantage

  • The sanctioned home loan will be linked with Savings Bank Account
  • Multiple facilities such as cheque book, ATM cum debit card, net banking, mobile banking, etc. are available
  • The processing fee is up to 0.35% of the loan amount
  • Both resident and non-resident Indians are eligible for this home loan.

Baroda Top Up Loan

  • All existing home loan borrowers including NRIs/PIOs, Staff and Ex-Staff members with standard asset classification are eligible for this home loan.
  • The processing fee is 0.25% of the loan amount.
  • The loan limit is Rs.1 lakh to Rs.2 crores.
  • The loan repayment term is the balance period of the existing home loan.

Baroda Home Improvement Loan

  • With this loan, you can make repairs, renovations and purchase of furniture and fittings to your existing home
  • The processing fee for loan up to Rs.50 lakhs is 0.50% of the loan amount and for loan above Rs. 50 lakhs is 0.25% of the loan amount.
  • Both resident and non-resident Indians are eligible for this home loan product.
  • It comes with group credit life insurance cover, zero-preclosure charges, minimal processing fees and attractive interest rates.

Baroda Home Loan Takeover

  • With this product, you can takeover home loans from other Banks/NBFCs/HFCs/Fls etc.
  • It comes with minimal processing charge and nil pre-closure charges.
  • The loan limit is up to Rs.10 crores.
  • Both resident and non-resident Indians are eligible for takeover home loan.

Baroda Pre-approved Home Loan

  • This loan offers in-principal home loan approval before identification of a specific house/plot/flat by a prospective home loan applicant.
  • The approval is valid up to 4 months from the issue date.
  • Assured loan amount is available.
  • It offers greater flexibility in negotiations with sellers/builders.

Baroda Ashray (Reverse Mortgage Loan)

  • This loan provides additional income to senior citizens.
  • This loan is eligible for Senior Citizens of India above 60 years of age.
  • The loan repayment tenure is 15 years.
  • The processing charge is 0.20% of the loan amount.

Baroda CRE Home Loan

  • This loan is ideal for purchase of flat/residential plot, construction of home, home loan takeover, home extension and for claiming reimbursement expenses.
  • Only NRIs/PIOs are eligible for this loan.

Pradhan Mantri Awas Yojana

  • Bank of Baroda offers affordable housing benefits under PMAY scheme through CLSS.
  • Both resident and non-resident Indians are eligible for this scheme.
  • The interest subsidy amount is based on the income category of the family.

What are the eligibility criteria required to avail home loan in Bank of Baroda?

In order to avail home loan in Bank of Baroda, you need to fulfil the following eligibility conditions.

Eligibility criteria  Requirement
Age

For Applicant: 21 years to 70 years

For Co-Applicant: 18 years to 70 years

Residential Status Resident Indian/ NRI/ PIO
Employment Type Salaried/ Self-Employed

What are the documents required to apply for Bank of Baroda Home Loan?

You need to submit the following list of documents to apply for home loan in Bank of Baroda.

ID Proof - Aadhaar card/PAN card/Voter ID/Driving License/Passport

Age Proof - Birth Certificate/Aadhaar card/Voter ID/Passport

Address Proof - Aadhaar card/Utility Bills/Voter ID/Driving License/Passport

Income Proof - Last 6 months' bank statements, Form 16 or Income Tax Returns

Other Documents - Duly filled and signed application form with the passport size photograph of the applicant and co-applicant, processing fee cheque drawn in favour of the bank.

How to calculate Bank of Baroda Home Loan Eligibility?

With Bank of Baroda Home Loan Eligibility Calculator, you can calculate how much loan amount you can get with your salary income, other income and other ongoing debt obligations. This helps to plan your finances better before getting home loan in Bank of Baroda. Just go through the following steps.

Step 1: Go to Bank of Baroda Home Loan Eligibility Calculator page

Step 2: Enter your location, date of birth or age and select your net monthly income, other income, loan tenure and current EMIs if any.

Step 3: Click 'Check Home Loan Eligibility' to get the loan value you expect to get from the bank.

How to calculate EMI for Bank of Baroda Home Loan?

Bank of Baroda Home Loan EMI Calculator helps you to calculate the EMI amount quickly. To calculate EMI amount for your home loan taken in Bank of Baroda, just follow the three steps given below.

Step 1: Visit Bank of Baroda Home Loan EMI Calculator page.

Step 2: Enter the principal loan amount you need from the bank, interest rate and repayment tenure.

Step 3: Once you have provided all these details, the calculator will instantly calculate and show you the EMI amount.

 

Bank of Baroda Home Loan Customer Care

You can contact Bank of Baroda home loan customer care service to seek solution for any of your home loan related queries.

Call Bank of Baroda Home Loan Toll-Free Number 1800 258 44 55, 1800 102 44 55
Give Missed call 8468001111, 8468001122
Register in Online click here
Write to Bank of Baroda Corporate Office Baroda Corporate Centre, Plot No. C-26, Block G,
Bandra Kurla Complex, Bandra (East), Mumbai 400051

Bank of Baroda Home Loan - Important Links

  • To apply for Bank of Baroda home loan, click here
  • To track your Bank of Baroda home loan application status, click here
  • To locate your nearest Bank of Baroda home loan branch, click here


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