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Bank Of Baroda Home Loan
Features & Benefits
Flexible Repayment Tenure
Opt for a repayment period of up to 30 years, providing flexibility over the long term.
Low Processing Charges
Benefit from low processing charges starting at Rs. 3500, making your loan affordable.
Higher Loan Amounts
Access higher loan amounts of up to Rs. 10 Crore, offering more financial flexibility.
Overview
Bank Of Baroda Home Loan
Bank of Baroda offers home loans starting from 8.4% for a year, with tenures of up to 30 years and loan amounts up to 20 crores. They also provide balance transfer facilities for existing home loan clients from other banks and finance companies, offering them at more favorable, lower rates. Furthermore, the bank extends an additional feature by offering pre-approved home loans, wherein principal approval is granted even before property identification, and notably, this approval remains valid for a duration of 4 months.
Rate of Interest
8.45% - 10.90%
Loan to Value
80% - 90%
Loan Tenure
Max 30 Years
Max Loan Amount
10cr - 20cr
| Rate of Interest | 8.45% - 10.90% |
| Loan Tenure | Max 30 Years |
| Eligibility | Age • Salaried : 21 - 65 years • Self Employed : 21 - 65 years Profession • Salaried/Self Employed Income • Metro Cities : 20,000/Month & Above • Other Cities : 15,000/Month & Above Nationality • Resident Indian • NRI |
| Max Loan Amount | 10cr - 20cr |
| Property Supported | Plot Purchase / Independent Building / Apartment / Re Sale Property |
| LTV | 80% - 90% |
| Offerings | Plot Loan / Construction Loan / Balance Transfer / OverDraft Home Loan |
| Addons | Plot Loan / Construction Loan / Balance Transfer / OverDraft Home Loan |
| Processing Fees | Rs 4000 - 10000 + GST |
| Other Charges | Notary / Franking = 1500-2500 / MODT - 0.2% - 0.7% of your loan amount (based on your state) / Legal - 3000 |
| Overdraft Facilities | |
| Balance Transfer | |
| Highlights | • Low ROI if the customer has Good CIBIL Score • Fast Sanctions • Online Prepayments are Easy and simple • Good Overdraft Home loan product / OD facility on under-construction property |
*Disclaimer: The interest rate, maximum tenure, and other charges are subject to change, it's advisable to check with our experts for the latest information.
| Loan Amount | ₹ 50,00,000 |
| Loan Tenure | 20 years |
| Rate of Interest | 8.45% - 10.90% |
| Monthly EMI | ₹ 43,233 - ₹ 51,269 |
Eligibility Criteria for Bank of Baroda Home Loan
| Criteria | Salaried Applicants | Self-employed Applicants |
|---|---|---|
| Age Range | 21 to 70 years | 21 to 70 years |
| Nationality | Indian/NRI/PIO | Indian/NRI/PIO |
| Minimum Monthly Income | As per bank’s norms | As per bank’s norms |
| 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.
Bank of Baroda Home Loan Interest Rates
Bank of Baroda offers a diverse range of home loan products to cater to various needs. Understanding the interest rates is crucial when considering your home financing options. Here’s a quick overview of the interest rates for 2024 based on different loan products:
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% |
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 |
| Takeover of Home Loan (Resident /NRI/PIOs) | Flat: Rs 8,500 |
| 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 |
| ECS/NACH dishonor charges | Rs 300 |
| Mortgage Charges | Rs 7,500 |
| Inspection Charges | Rs 2,500 per inspection |
| Loan Revalidation Charges | Rs 1,000 per revalidation |
| Statement of Account / Interest Certificate | Rs 500 per request |
| Document Execution Charges | Rs 2,000 |
| Re-appraisal of loan after 6 months from sanction | Rs 2,000 |
Documents Required for Bank of Baroda Home Loan
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 | ✔ | ✔ |
Bank of Baroda Home Loan Schemes and Top Plans
Comparison
| Feature | Regular Home Loan | Home Loan Takeover Scheme | Pre-Approved Home Loan | Home Suvidha Personal Loan | CRGFS for Low Income Housing | Max Savings Home Loan | Home Improvement Loan | Top-Up Loan | Home Loan to Corporates |
|---|---|---|---|---|---|---|---|---|---|
| Minimum Loan Amount | ₹1 lakh | ₹1 lakh | ₹1 lakh | ₹1 lakh | ₹1 lakh | ₹1 lakh | ₹1 lakh | ₹1 lakh | ₹1 lakh |
| Maximum Loan Amount | ₹10 crore | Depending on city | Need basis | Need basis | ₹8 lakh | ₹50 lakh | Need basis | Need basis | Need basis |
| Interest Rate | 8.40% to 10.60% p.a. | 8.40% to 10.60% p.a. | 8.40% to 10.60% p.a. | 10.50% p.a. onwards | 8.40% to 10.60% p.a. | 8.40% to 10.85% p.a. | 8.40% to 10.60% p.a. | 8.40% to 10.60% p.a. | 8.40% to 10.60% p.a. |
| Tenure | Up to 30 years | Up to 30 years | Up to 30 years | Up to 5 years | Up to 30 years | Up to 30 years | Up to 30 years | Up to 20 years | Up to 30 years |
| Eligible Applicants | Salaried/Self-employed | Salaried/Self-employed | Salaried/Self-employed | Salaried/Self-employed | Salaried/Self-employed | Salaried/Self-employed | Salaried/Self-employed | Salaried/Self-employed | Corporates |
| Special Features | – | Balance Transfer | Pre-Approved Loan | Personal Loan | Low Income Housing | Max Savings Feature | Home Improvement | Additional Funding | For Corporates |
Details
Bank of Baroda Regular Home Loan
- Minimum Loan Amount: ₹1 lakh
- Maximum Loan Amount: ₹10 crore
- Interest Rate: From 8.40% to 10.60% p.a.
- Eligible Applicants: Salaried/Self-employed
- Tenure: Up to 30 years
Bank of Baroda Home Loan Takeover Scheme
- Minimum Loan Amount: ₹1 lakh
- Maximum Loan Amount: Depending on the city
- Interest Rate: From 8.40% to 10.60% p.a.
- Eligible Applicants: Salaried/Self-employed
- Tenure: Up to 30 years
Bank of Baroda Pre-Approved Home Loan
- Minimum Loan Amount: ₹1 lakh
- Maximum Loan Amount: Need Basis
- Interest Rate: From 8.40% to 10.60% p.a.
- Eligible Applicants: Salaried/Self-employed
- Tenure: Up to 30 years
Bank of Baroda Home Suvidha Personal Loan
- Minimum Loan Amount: ₹1 lakh
- Maximum Loan Amount: Need basis
- Interest Rate: From 10.50% p.a. onwards
- Eligible Applicants: Salaried/Self-employed
- Tenure: Up to 5 years
Bank of Baroda CRGFS for Low Income Housing
- Minimum Loan Amount: ₹1 lakh
- Maximum Loan Amount: ₹8 lakh
- Interest Rate: From 8.40% to 10.60% p.a.
- Eligible Applicants: Salaried/Self-employed
- Tenure: Up to 30 years
Bank of Baroda Home Improvement Loan
- Minimum Loan Amount: ₹1 lakh
- Maximum Loan Amount: Need basis
- Interest Rate: From 8.40% to 10.60% p.a.
- Eligible Applicants: Salaried/Self-employed
- Tenure: Up to 30 years
Bank of Baroda Max Savings Home Loan
- Minimum Loan Amount: ₹1 lakh
- Maximum Loan Amount: ₹50 lakh
- Interest Rate: From 8.40% to 10.85% p.a.
- Eligible Applicants: Salaried/Self-employed
- Tenure: Up to 30 years
Bank of Baroda Top-Up Loan
- Minimum Loan Amount: ₹1 lakh
- Maximum Loan Amount: Need basis
- Interest Rate: From 8.40% to 10.60% p.a.
- Eligible Applicants: Salaried/Self-employed
- Tenure: Up to 20 years
Bank of Baroda Home Loan to Corporates
- Minimum Loan Amount: ₹1 lakh
- Maximum Loan Amount: Need basis
- Interest Rate: From 8.40% to 10.60% p.a.
- Eligible Applicants: Corporates
- Tenure: Up to 30 years
How to Apply
Applying for a Bank of Baroda home loan is a straightforward process:
- Check Eligibility: Verify that you meet the eligibility criteria for your selected loan product.
- Collect Documents: Gather all the required documents.
- Visit a Local Branch: Visit your nearest Bank of Baroda branch and fill out the application form.
- Submit Documents: Submit your application along with the required documents.
- Application Review: The bank will review your application and documents.
- Loan Approval: Upon approval, your loan will be sanctioned, and you can start your homeownership journey.
Do not want to get into this hassle? Get Bank of Baroda’s best rates in a single call.
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 | 8.5% p.a. onwards | 8.5% p.a. onwards | 8.5% p.a. onwards |
| HDFC Bank | 8.7% p.a. onwards | 8.7% p.a. onwards | 8.7% 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 | 8.85% p.a. onwards | 8.85% p.a. onwards | 8.85% p.a. onwards |
| Kotak Mahindra Bank | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards |
| Punjab National Bank | 8.40% – 12.10% p.a. | 8.40% – 12.10% p.a. | 8.40% – 12.10% 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%-13.30% p.a. | 8.75%-13.30% p.a. | 8.75%-9.65% p.a. |
| Bank of India | 8.4% p.a onwards | 8.4% p.a onwards | 8.4% p.a onwards |
| TATA Capital | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
What is the maximum tenure BOB offers home loan for
The maximum tenure for the home loan is 20-30 years (but the tenure of the loan can also change based on the scheme.)
Are BOB housing Finance interest rates fixed or floating?
Offers both fixed and floating interest rate options for home loans. With a fixed rate, the interest remains constant throughout the loan tenure, while with a floating rate, it fluctuates with the market condition.
How is Interest Rate Determined for BOB Home Loan
BOB determines the interest rate based on factors like the loan amount, loan tenure, CIBIL Score, and the type of interest rate (fixed or floating) chosen by the borrower.
How can I calculate the EMI for BOB Home Loan?
You can calculate the EMI for using any online EMI Calculator