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Bank of Baroda Loan Against Property
Bank of Baroda offers a Loan Against Property with attractive interest rates starting at just 9.65% p.a. Loans against property are processed quickly and easily by the Bank of Baroda.Powered By
Bank of Baroda Loan Against Property
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Here are a few factors
| Location | Pan India |
| Loan Amount & Tenure | Upto 7.5 crore & 120 Months |
| Rate of Interest & Type | From 10.85% To 15.75% |
| Login Fees | Upto Rs 3.00 Crores: 0.35% |
| CIBIL Score | 750 |
| Foreclosure | Prepayment within- 12 Months after initial sanction : 2%** Prepayment within- 12 Months after initial sanction : NIL |
| Applicant Age | 21-60 Years |
| Minimum Business Vintage | Minimum of last 3 Years |
| Lockin Period | 12 Month |
| Product | Baroda Mortage Loans |
| LTV |
|
| Part Payment Allowed | Yes |
| Negative Profile | Proposals from persons engaged in Real Estate Developments, Property Dealers /Brokers, Share / Stock Brokers and persons engaged in any Speculative activity shall not be considered. |
| Negative Collateral | Not Restricted |
| FOIR | NMI up to Rs.75,000/- : 50% NMI above Rs.75,000/- to Rs.3.00 Lacs : 60% NMI above Rs.3.00 Lacs : 70% (For Doctors and practicing Chartered Accountants – 75% to 80%) |
| USP | Balance transfer option: Easily transfer your existing LAP from another bank to Bank of Baroda, potentially benefiting from lower interest rates or more convenient terms. |
Required Documents to Apply for Bank of Baroda Loan Against Property
Salaried income documents
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KYC of applicant & Co-Applicant
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Last 3 Month Salary Slip of Applicant
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Last 12 month Bank Statement of applicant & co-applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 2 Year Form 16 of applicant
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26AS of last 2 year of applicant & co-applicant
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Appointment letter of applicant if available
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Agreement to Sale if purchase case
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Property Paper with complete chain of last 13 years
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LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
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Sanction letter of all running loan
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Latest utility Bill if owned residence or rent agreement if rented
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2 Reference with contact details
Self Employed person documents
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KYC of applicant & Co-Applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 3 year audited balance sheet of applicant
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Last 3 year Tax audit report of applicant
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Last 12 month Bank Statement of applicant & co-applicant
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26AS of last 2 year of applicant & co-applicant
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Copy of GST registration
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Copy of MSME registration
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Copy of Last 12 month GST return
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Agreement to Sale if purchase case
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Property Paper with complete chain of last 13 years
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LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
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Sanction letter of all running loan
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Debt Sheet
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
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2 Reference with contact details
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Last 3 year Debtors & Creditors on letter head
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List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
Some Important Points
If Applicant is
- Company-MOA, AOA, COI , PAN Card
- Partnership Firm/LLP- Partnership Deed & PAN Card
- Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
- KYC means Adhaar Card, PAN Card, Passport Size Photo
Co-Applicant means in case of
- Company : Directors
- Partnership firm/LLP : Partners
- Proprietorship Firm : Spouse of Proprietor
3. If applicant is professional, then his professional degree is required
About Bank of Baroda Loan Against Property
Taking a loan against property may be a practical solution to handle any significant needs, such as money for company ideas, further education, recuperation from illness, etc. One of the top banks in India, Bank of Baroda, is aware of the situation and encourages you to offer up your property in order to fulfil the objectives or needs.
A Bank of Baroda loan secured by the property is straightforward to get since the application and approval processes are expedited. This loan is desirable and reasonable for everyone because of its flexible repayment terms.
If you opt for a loan tenure of 10 years,
| Loan Amount | Interest Rate |
Up to Rs. 7.5 crores |
9.65%-14.55% |
More than Rs. 7.5 crores |
9.90%-14.80% |
If you opt for loan tenure of 10 - 15 years
| Loan Amount | Interest Rate |
Up to Rs. 7.5 crore |
10.15%-15.05% |
Above Rs. 7.5 crore |
10.40%-15.30%br> |
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
FREQUENTLY ASKED QUESTIONS
You can download the application form from the website itself. BOB allows you to apply for a LAP both online and offline.
No, you do need to pay any kind of registration fee.
Once you submit your documents for a loan against property, the Bank of Baroda will decide within just 30 minutes. And later, within 3 working days, the amount will be disbursed into your account.
Yes, you can pre-close your loan with the Bank of Baroda.
The Interest for Bank Of Baroda Loan Against Property can vary from 10 to 15% based on the borrower applying for LAP and the type of loan taken.
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