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Eligibility Criteria for Bank of Baroda Home Loan

Understanding the eligibility criteria for a Bank of Baroda home loan is crucial to ensure a smooth application process. Here’s a quick overview of the key factors that determine your eligibility.

Criteria	Salaried Applicants	Self-employed Applicants
Age Range	21 to 70 years	21 to 70 years
Nationality	Indian/NRI/PIO	Indian/NRI/PIO
Maximum Age at Final Repayment	70 years	70 years

Additional Eligibility Criteria:

• Indian residents and Non-Resident Indians (NRIs) aged 21 to 70 years.
• Co-applicants should be aged 21 to 70 years.
• Minimum Employment History: 2 years for salaried and 3 years for self-employed.

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Bank of Baroda Home Loan Interest Rates

Interest rates significantly impact the cost of a home loan. Bank of Baroda offers both fixed and floating interest rate options, allowing borrowers to choose what suits them best:

Floating Rates

Product	Floating Rates	Fixed Rates
Baroda Home Loan to Non-Staff members	8.40% to 10.60% p.a	10.15% to 11.60%
Baroda Home Improvement Loan to Non-Staff members	8.40% to 10.60% p.a	10.15% to 11.60%
Baroda Max Savings Home Loan – Above Rs.75 lakhs	8.65% to 11.15% p.a	10.25% to 11.60%
Baroda CRE Home Loan	8.65% to 10.85% p.a	10.40% to 11.85%
Baroda CRE Home Loan (Max Savings) – Upto Rs.75 lakhs	8.65% to 11.15% p.a	10.40% to 11.85%

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Bank of Baroda Home Loan Processing Fee and Charges

Processing Fees

Loan Slab	Processing Fee
Baroda Home Loan & Baroda Home Improvement Loan(Up to Rs 50 lakh)	0.50% of loan amount, Max: Rs 15,000.
Baroda Home Loan & Baroda Home Improvement Loan(Above Rs 50 lakh)	0.25% of loan amount, Max: Rs 25,000.
Baroda Home Loan Top Up	0.35%, Max: Rs 12,500
Pre-Approved Home Loan (In-Principle Sanction)	0.25% – 0.50%, Rs 8,500 upfront.

Other Charges on Home Loans

Service	Charges
Prepayment Charges	NIL (Floating and fixed)
Penal Charges	2% per month on defaulted installments
Document retrieval charges	Rs 2,000
Providing document list	Rs 500
Photocopies of title documents	Rs 1,000
Cheque bounce charges	Rs 500
Loan Revalidation Charges	Rs 1,000 per revalidation

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Documents Required for Bank of Baroda Home Loan

Before applying, it’s important to gather all the necessary documents to ensure a smooth application process. Bank of Baroda requires the following key documents:

Identity Documents

Document Name	Salaried Applicants	Self-employed Applicants
Passport	✔	✔
Voter’s ID Card	✔	✔
Aadhaar Card	✔	✔
Driving License	✔	✔
PAN Card	✔	✔
Latest Utility Bill	✔	✔

Income Documents

Document Name	Salaried Applicants	Self-employed Applicants
Salary Slips for the last 3 months	✔	✖
Bank Statements for the last 6 months	✔	✔
Form 16 for the last 3 years	✔	✖
Income Tax Returns for the last 3 years	✖	✔
Balance Sheet and Profit & Loss A/c Statements for the last 3 years	✖	✔
Proof of Business Existence	✖	✔
Business Profile	✖	✔

Other Documents

Document Name	Salaried Applicants	Self-employed Applicants
Duly Signed Application Form	✔	✔
Passport-sized Photographs	✔	✔
Proof of Ownership of Property	✔	✔
Allotment Letter from Society if Flat/Apartment	✔	✔
Up to Date Tax Paid Receipt	✔	✔
Cheque for Processing Fee favouring Bank of Baroda	✔	✔
Latest Form 26 AS	✖	✔
Details of Ongoing Loans	✔	✔

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Bank of Baroda Home Loan Schemes and Top Plans

Comparison

Details

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Bank of Bank of Baroda Application Process

Here’s a step by step guide on how to apply for Bank of Baroda home loan:

1. Check Eligibility: Verify that you meet the eligibility criteria for your selected loan product.
2. Collect Documents: Gather all the required documents.
3. Visit a Local Branch: Visit your nearest Bank of Baroda branch and fill out the application form.
4. Submit Documents: Submit your application along with the required documents.
5. Application Review: The bank will review your application and documents.
6. Loan Approval: Upon approval, your loan will be sanctioned, and you can start your homeownership journey.

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Bank of Baroda Home Loan Customer Care

To facilitate effective communication with customers, Bank of Baroda offers various channels for customer support.

Contact Method	Details
Email ID	cs.ho@bankofbaroda.com
Phone Number	(0265) 2316792
Text Message (Missed Call)	8468001111 (Balance Inquiry) 8468001122 (Mini Statement) 7799022129 (Toll-Free Number of Central Registry for CKYC ID)
Official Address	Bank of Baroda-Head Office Principal Nodal Officer (General Manager) Baroda Bhawan 7th Floor, R.C Dutt Road Vadodara- 390007 (Gujarat)
Website	Baroda Home Loan

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Comparison

You can also compare the home loan rates of different banks here. For detailed comparison between top banks you can visit our compare banks page.

Bank	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI Bank	8.50% p.a. onwards	8.5% p.a. onwards	8.50% p.a. onwards
HDFC Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards
LIC Bank	8.50% – 10.35% p.a.	8.50% – 10.55% p.a.	8.50% – 10.75% p.a.
ICICI Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards
Kotak Mahindra Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards
Punjab National Bank	8.50% – 11.05% p.a.	8.50% – 11.05% p.a.	8.50% – 11.05% p.a.
Bank Of Baroda	8.40% – 10.65% p.a.	8.40% – 10.65% p.a.	8.40% – 10.90% p.a.
Bajaj Housing Finance	8.50% p.a. onwards	8.50% p.a. onwards	8.50% p.a. onwards
Axis Bank	8.75%-10.30% p.a.	8.75%-10.30% p.a.	8.75%-10.30% p.a.
Bank of India	8.40% p.a onwards	8.40% p.a onwards	8.40% p.a onwards
TATA Capital	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards