Bank of Baroda is the third largest bank in India after State Bank of India and Punjab National bank and ahead of ICICI Bank.It was founded in 1908 and is headquartered in Baroda (Vadodara).The bank offers a wide range of customized and specialized services to meet the diverse needs of of its customers, and these services have been categorized into personal banking, business banking, corporate banking, international banking, treasury banking,and rural banking services.
Here, we talk about all the things above that are quite normal but there is a change in it, now everyone has to get a home loan with ease..You all think that “how it is possible? To overcome this issue Bank of Baroda came with an exciting opportunity i.e. Bank of Baroda Home Loan.
With the Bank of Baroda home loan you can buy a plot, purchase a flat, build your own home, and even extend your existing residence with a home loan. Both Indian and NRIs are eligible for home loan. The Bank of Baroda offers the best home loan interest rate making it easier for you to own the home of your dreams.
1. Low interest rate starts from 6.85% to 7.85% per annum
2. Longer tenure period upto 30 years
3. High loan amount upto Rs.10 crore
4. No guarantor required
5. Balance transfer facility available
6. Free accident insurance with every home loan
7. Available for both salaried and self employed individuals
|
TYPE |
CHARGES |
|
Processing fee |
0.25% of the loan amount |
|
Prepayment and foreclosure charges |
NIL |
|
Moratorium period |
36 months |
|
Modification Charges |
Upto Rs.1 crore = Rs.5000 Above Rs.1 crore to Rs.10 crore = Rs.15000 Above Rs.10 crore = Rs.25000 |
|
Deviation Charges |
Rs.1500 per deviation (Maximum Rs.5000) |
|
Penal Interest |
NIL |
|
ELIGIBLE |
Salaried individuals and self employed individuals |
|
RESIDENT STATUS |
Indian Resident, NRIs, Person of Indian Origin (PIO) |
|
AGE |
For applicant = 21 years to 70 years For co applicants = 18 years to 70 years |
1. Fully filled signed application form
2. Passport size photograph
3. ID Proof : Aadhaar Card, PAN Card, Driving License, Passport, Voter identification, Employment id
4. Address Proof : Aadhar Card, Rental agreement, Voter id, Driving license, Passport, Employment id
5. Income Proof : For salaried employees = 3 months salary slip, last 2 years ITR Return or form 16, Bank statement for last 2 months showing that the salary has been credited
6. For Self employed individuals / professionals = 2 years ITR return, Profit & loss account and Balance sheet computation with CA seal and sign, Bank statement for the last 6 months.
Scheme of Bank of Baroda Home Loan :
|
Baroda Home Loan Advantage |
Baroda top up loan |
Baroda home suvidha loan |
Baroda Ashray Reverse Mortgage loan |
Baroda Home Improvement |
Baroda pre approved Home loan |
|
Baroda Home loan advantage for NRI/PIO |
Baroda home improvement loan for NRI / PIO |
Baroda CRE home loan for NRI / PIO |
Baroda home loan for NRI |
Interest subsidy scheme for housing the urban poor |
Pradhan Mantri Awas Yojna |
|
BANKS |
INTEREST RATE |
|
Starts at 10.05% onwards |
|
|
Starts at 7.75% onwards |
|
|
Starts at 7.75% onwards |
|
|
7.75% to 9.40% |
|
|
Start at 9.55% onwards |
|
|
8.15% to 8.30% |
|
|
8.90% to 9.15% |
|
|
6.95% onwards |
|
|
7.40% onwards |
|
|
6.95% onwards |
|
|
6.95% onwards |
|
|
6.95% onwards |
|
|
6.95% onwards |
|
|
7.65% onwards |
|
|
7.90% onwards |
|
|
9.50% to 10.50% |
|
|
6.75% onwards |
|
|
10.45% onwards |
|
|
8.05% onwards |
|
|
7.45% onwards |
|
|
6.95% to 7.50% |
|
|
7.40% to 9.70% |
|
|
9.60% to 10.55% |
|
|
7.34% to 8.29% |
|
|
6.95% to 8.05% |
|
|
Starting at 8.71% |
|
|
7.80% to 8.80% |
|
|
9.75% to 10.05% |
|
|
8.55% to 8.655 |
|
|
11.005 to 11.505 |
|
|
8.00% to 15.00% |
|
|
6.85% to 7.75% |
|
|
6.85% to 7.755 |
|
|
6.90% to 8.90% |
|
|
7.55% to 8.40% |
|
|
Starting at 7.00% |
1. Bank of Baroda Personal Loan
4. Bank of Baroda Education Loan
There are two ways to apply for home loans from Bank of Baroda :
1. Offline method : By visiting nearest bank branch
2. Online Method :
First of all first visit to official website of Bank of Baroda
In retail section go to the “loans”
Now click in home loan
After that go to “Home loan”
Now click on apply now and fill application form
How to contact with Bank of Baroda :
1. By customer care contact number : 18001024455 / 18002584455
2. To know the details of your branch please visit : http://bank of baroda.com/locate-us-branch.htm
The following formula is used to calculate EMI of Bank of Baroda Home Loan :
EMI = [PXRX(1+R)^N] / [(1+R)^N-1]
Where,
P stands for Loan Amount
R stands for Interest Rate
N stands for tenure in number of months
Financials products offered by Bank :
The maximum loan tenure is 30 years for Bank of Baroda Home Loan.
You can apply online or offline for a home loan from Bank of Baroda.
The interest rate provided for a home loan from Bank of Baroda starts from6.85% to 7.85% per annum.
The processing fee provided by Bank of Baroda home loan is 0.25% of the loan amount,
The minimum loan amount is Rs.1 lakh and the maximum loan amount is Rs.10 crore provided by Bank of Baroda home loan.
The following formula is used to calculate EMI of Bank of Baroda home loan is EMI = [PXRX(1+R)^N] / [(1+R)^N-1], Where, P stands for Loan Amount, R stands for Interest Rate, N stands for tenure in number of months
For the applicants the age is 21 years to 70 years and for co-applicants the age is 18 years to 70 years are required to get a home loan from Bank of Baroda.
Last Updated on : 19/Aug/2020Know More About
You're eligible for a Bank Of Baroda Home Loan if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Home Loans is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
| Bank Of Baroda Home Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 6.85% - 7.85% |
| Processing Fees | 0.25% of the loan amount |
| Loan Tenure | 1 year to 30 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Home Loans EMI Calculator