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Bank of Baroda Home Loans

Fast & Easy Home Loans from Bank of Baroda.

Bank of Baroda Home Loan Interest Rates

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Bank Of Baroda home loan

salaried self employed NRI add co-applicant

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Bank Of Baroda Home Loan Overview

Bank of Baroda Home Loan Deals

Be the proud owner of your home with Bank of Baroda easy home loan offers. Bank of Baroda is offering housing loans for purchase of new house, construction of new house, purchase of land for house construction & repaying existing home loan from another bank. Check your Eligibility Now!

Fill the form above and check your home loan eligibility instantly and get e-approved in minutes.

Benefits of Bank of Baroda Home Loans:
  • Special loans for Doctors, Chartered Accountants, Engineers, Architects and CS
  • Free Credit Card - "Paras" card (Complimentary for first year) to all new home loan borrowers with loan limit of Rs. 2/- Lakhs and above
  • Advance up to 90% of the principal amount of home loan repaid for any requirement ('AAA').
  • No Fees will be charged on part prepayment / full prepayment of the loan amount.
  • Attractive home loan interest rates

Bank Of Baroda Home Loan FAQs

  1. Can I avail of Home Loan from Bank of Baroda ?
    • Yes, you can avail a Home Loan from Bank of Baroda, if you plan to construct or purchase a house/flat or extend your existing house/flat and,you are :
    • A minimum of 21 years
    • Employed or Self Employed with regular income.

  2. Who can be co-applicant ?
    The proposed owners of the residential accommodation as per the Agreement for sale, in respect of which financial assistance is sought, must be co-applicants. Usually joint applications are from husband-wife, father-son or mother-son etc.

  3. How much does Bank of Baroda lend ?
    Loan amount is determined on the basis of the repaying capacity of the applicant/s. Repaying capacity takes into consideration factors such as age, income, dependents, assets, liabilities, stability of occupation and continuity of income, savings etc. The maximum loan would be Rs.100 lacs per unit to any individual applicant. We will extend loan upto 85% (for fresh houses / flat) of the cost of property under our Housing Loan Scheme.

  4. For how long a period can I get the loan ?
    We grant term upto a maximum of 25 years. The term for the loan will under no circumstances exceed the age of retirement or completion of 65 years of age, whichever is earlier.

  5. Can I prepay the loan ahead of schedule ?
    Yes, you have the option to prepay the loan ahead of schedule either in part or in full from your own sources.

  6. What is the security for the loan ?
    The security for the loan is equitable mortgage of the property to be financed.You will also be required to furnish guarantee by one/two individual/s of sound financial standing acceptable to us.

  7. Are there any Housing loan product for NRIs ?
    Yes. Bank of Baroda is offering exciting home loan offers for NRIs / PIOs .

Bank Of Baroda Home Loan Eligibility & Documentation

Bank of Baroda Home Loan Eligibility:


Income Criteria

  • Individuals in permanent service in the Government or reputed companies meet BOB Home Loan eligibility criteria
  • If monthly income is up to Rs. 20,000, your home loan eligibility is up to 36 times your monthly income.
  • If monthly income is up to Rs. 1 lac, your home loan eligibility is up to 48 times your monthly income.
  • If monthly income is above Rs. 1lac, your home loan eligibility is up to 54 times your monthly income.

How is your Bank of Baroda home loan eligibility determined?
Based on the following aspects Bank of Baroda will determine your loan eligibility:

  • Your monthly income
  • Property cost
  • Other EMI’s which you are paying for any other loan

Fill the form above to check your actual home loan amount eligibility.


Bank of Baroda Home Loan documentation:

  • Application form duly filled in (with photograph of all the applicant).
  • Residence and Age verification, which may be established from the PAN card, Election ID, Passport, Drivers licence and Ration card etc.
  • Copy of approved plan and sanction letter from local civic authority.
  • Copy of NA permission.
  • One/two guarantor/s form/s and salary certificates. - If guarantor is in business, copies of I.T. returns or assessment orders for the last three years are required.
  • Bank Pass-book of statements for the last two years.
  • Latest salary slip/statement showing all deductions in case of employed applicants.
  • Certified copies of Balance Sheets and Profit and Loss accounts, IT acknowledgments, advance tax challans (for both company/firm and personal account) for the last three years in case of self employed applicants.
  • Memorandum/Articles of Association for companies, partnership deeds for firms and a brief profile of your company/firm in case of self employed applicants.
  • Residence and Age verification, which may be established from the PAN card, Election ID, Passport, Drivers license and Ration card etc.

Bank Of Baroda Home Loan Interest RatesUpdated on 22 May 2013

Details of Bank Of Baroda Home Loan

BoB Home Loan Interest Rate.(Monthly reducing balance)
10.5% to 12% floating
Base rate - 10.25%. Check Customized Interest Rates Now!
Processing Fees
Loans upto Rs. 30 lacs : 0.50%
Loans above Rs. 30 lacs : 0.40%
(Min. Rs.15,000/- & Max. Rs.50,000/-)
BoB Home Loan Tenure
1 year to 25 years
BoB Home Loan Amount Funded
Up to 80% of property value
Partial Pre-payment Charges
Nil
Pre-closure Charges
No fee if pre-closed with own funds. Otherwise fee is 0.5% of pre-closed amount for each remaining year of loan up to max of 2%
Guarantor Requirement
Guarantor is mandatory

Home Loan Articles

  • Checklist-Home loan documentation!
    Home loans are easy to come by these days. So, don’t fret over it. Focus on the documents you need to furnish while applying for a home loan. Documents required: We give you a standard list of documents your bank will ask for. Besides this you need to submit details of the property or home you are obtaining the loan for.
  • Are you loan eligible?
    Home loans are the most easily accessible financial supplement to purchase your dream home. To understand how to enhance your eligibility to apply for a home loan, make a simple self-assessment. Here is how banks do it.
  • Beware of these home loan facts!
    A bank is eligible to demand additional security when property prices fall. Even if you are loyal on your EMI payments, this clause demands a security cover in addition to your loan amount and if a borrower fails to provide such a security then he/ she may be declared a defaulter by the lender.
  • Arithmetic jugglery and home loans!
    Different banks quote their interest rates differently. Some might quote rates with an annual rest, while others may quote rates with a monthly rest. In every case the bank will usually quote the ‘annualised rate’, which is obtained by multiplying the rate per rest period into the number of rests per year.

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