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Bank of Baroda Home Loan

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Product Rating

4.6 /5

Total - 363 ratings

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Loan Amount

Minimum - 10 Lakhs

Maximum - 20 crores

Location

PAN India

ROI

For Salaried people 7.95% - 9.30% p.a. And for Non-Salaried people 8.05% - 9.40% p.a.

Processing Fees

Up to 0.50% of the loan amount or ₹3,000, whichever is higher, plus applicable taxes.


Loan Repayment Tenure

Up to 30 years


Re-Appraisal Of Loan After 6 Months From Sanction

Up to Rs 2,000 plus applicable taxes.

Owning a home is a dream for everyone. But, owning or buying a home is not at all an easy task. So, for buying your dream home, you can surely go ahead and look for Bank of Baroda Home Loans. You can opt for Bank of Baroda home loans for new construction, new purchases, buying old construction homes, and even for repairing and renovating your old homes.

The Bank of Baroda has made its borrowing process easy and quick. Simply go to the bank's website, check your eligibility for a home loan, and apply in a few clicks. They even offer the option to transfer home loans from another bank to the Bank of Baroda because of the low-interest rates they give to their customers.

The primary benefit of taking Bank of Baroda home loans is that they provide free accident insurance along with the loans, which helps your family to be stress-free from any debts in your absence. They offer a very comfortable and long-term loan repayment tenure of 30 years. Bank of Baroda is a leading government bank with the market's lowest home loan rates. They cover up to 90% of the property purchase amount, which can go up to a maximum of 20 crores.


Let’s have a look at the table for a concise view.

Loan Amount

Minimum - 10 Lakhs

Maximum - 20 crores

Location

PAN India

ROI

For Salaried people 7.95% - 9.30% p.a. And for Non-Salaried people 8.05% - 9.40% p.a.

Processing Fees

Up to 0.50% of the loan amount or ₹3,000, whichever is higher, plus applicable taxes.


Loan Repayment Tenure

Up to 30 years


Re-Appraisal Of Loan After 6 Months From Sanction

Up to Rs 2,000 plus applicable taxes.

Different types of home loans at the Bank of Baroda

Let’s have a look at the various options for home loans available at the Bank of Baroda:

Baroda Home Loan

For purchasing, constructing, or extending the home you can apply for a home loan:

Loan Amount - Rs. 1 crore - Rs. 20 crores


Loan amount ratio

Up to 30 Lakhs

90% of the total home loan amount.

Between 30 - 75 Lakhs

80% of the total home loan amount.

Above 75 Lakhs

75% of the total home loan amount.

Home loan tenure - 30 years.


Home Loan Takeover

With this type of home loan, the Bank of Baroda offers its customers the opportunity to transfer their existing home loan balance from any other bank to the Bank Of Baroda.

Loan Amount - Rs. 1 crore - Rs. 20 crores

Loan amount ratio

Up to 30 Lakhs

90% of the total home loan amount.

Between 30 - 75 Lakhs

80% of the total home loan amount.

Above 75 Lakhs

75% of the total home loan amount.

Home loan tenure - 30 years.



Home Renovation or Improvement Loan

Bank of Baroda offers its customers home loans to repair or renovate their existing homes, which includes the purchase of any kind of new furniture or extra fittings for the home.

Loan Amount - Rs. 1 crore - Rs. 20 crores


Loan amount ratio

Up to 30 Lakhs

90% of the total home loan amount.

Between 30 - 75 Lakhs

80% of the total home loan amount.

Above 75 Lakhs

75% of the total home loan amount.

Home loan tenure - 30 years.



Pre-Approved Home Loan

Bank of Baroda also provides an option for their customers to get pre-approved loans before they finalize the home or flat they want to buy. And the validity of this pore-approval is for 4 months.

Loan amount - up to 10 crores

Loan tenure -30 years


Top-up Home loan

Bank of Baroda also has an additional facility for its existing home loan applicants to get top-ups on their loans for any speculative reason.

Loan amount - Rs. 1 lakh - Rs. 1 crore

Loan ratio - 75% of the remaining value of that home

Tenure - 30 years.


Documents Required

List of common documents

    1. Duly filled application form along with the applicants' three photographs

    2. Identity proof - PAN Card

    3. Driving license / Adhaar Card / Voter ID / Passport

    4. Residence proof - Ration Card / Voter ID / aadhaar Card

    5. In the case of previous loans, the loan statement of the last year

    6. ITR reports for verification


Additional documents

For salaried

  1. Last 3 months' salary slips

  2. Form 16 and ITR statement of last 1 year

  3. Copy of the identity card of the employer

  4. Promotion or increment letter if any

  5. Bank account statement of last 6 months

For self-employed individuals

  1. The balance sheet for the last 2 years

  2. ITR reports of the last 2 years

  3. Business license proof and the business registration certificate

  4. The firm's PAN number details

  5. Bank account statement of last 1-year

Eligibility Criteria

Age- 21-70 years

Profession– Salaried/Self-employed Professionals (Doctors, Lawyers, Engineers, CA, architects, consultants, CS) and Self-employed Non-Professionals (Commission agent, contractor, trader)

Nationality– Indian Resident and NRIs

Genders– All



FREQUENTLY ASKED QUESTIONS

Have a question? We've got answers!

Bank of Baroda will determine the home loan amount based on the applicants, income, age, repayment capacity, and job stability.

Yes, the Bank of Baroda home loan can be foreclosed without penalty fees.

Bank of Baroda allows only the applicant's blood relatives to be co-applicants in home loans.

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