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  • Bank of Baroda Home Loan

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  • Bank of Baroda home loan interest rate starts from 8.70% p.a. onwards, with tenures up to 30 years with easy repayment options. The bank offers loan amount of up to Rs.10 crore and the processing fees on Bank of Baroda housing loans ranges from as low as 0.25% of the loan amount. The bank charges zero prepayment charges for a floating rate of home loans. One of the key features of the Bank of Baroda home loan is that you can opt for a top-up loan for up to five times during the loan period. 

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    We found 1 Bank Of Baroda Home Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.30% - 9.35% Floating
    7,500 to ₹20,000
    1L - 2Crs
    30 Years
    What you'll love
    Documents
    Perks
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    Bank of Baroda Home Loan Details

    Apply for Bank of Baroda home loans at floating rates linked to MCLR. Here is a quick snapshot of the BoB home loan plans you can choose from:

    Updated as per Latest Rates on 15 Dec 2019
    MCLR 8.70% (1 year)
    Loan Amount Minimum: NA, Maximum: Rs.10 crore
    Processing Fees Up to 0.50% (Min. Rs.8,500; Max. Rs.25,000)
    Penal Interest Rate Not available
    Prepayment/Foreclosure Charges Nil
    Max Tenure 30 Years
    Rate Packages Available Floating only

    Bank of Baroda’s unified processing fee includes documentation charges, inspection and valuation charges, legal fees, and CERSAI fees, among other things. Visit our home loan processing charges page to know more.

    Bank of Baroda Home Loan Interest Rates

    BoB housing loan interest rates are based on its 1-year MCLR, which currently stands at 8.70%. The bank does not offer fixed-rate packages since 1 July 2010. The rates vary according to your risk profile. The current interest rates for Bank of Baroda home loan schemes are given in the table below:

    Bank of Baroda Home Loan Schemes Interest Rate (p.a.)
    Baroda Home Loan 8.70% to 9.70%
    Baroda Home Improvement Loan 8.70% to 9.70%
    Baroda Home Loan Advantage 8.70% to 9.95%
    Baroda CRE Home Loan 8.95% to 9.95%
    Baroda CRE Home Loan (Advantage) 8.95% to 10.20%
    Baroda Top Up Loan (Resident/NRIs/PIOs) Starting from 9.20% + strategic premium
    Baroda Mortgage Loan Starting from 9.65% + strategic premium
    Baroda Ashray (Reverse Mortgage Loan) Starting from 10.45% + strategic premium

    Bank of Baroda Home Loan Schemes

    Bank of Baroda offers housing finance up to Rs.10 crore to eligible customers looking to purchase/construct their dream home or improve/extend an already existing property. The home loans attract an interest rate starting from 8.65% p.a. and a processing fee up to 0.50% of the loan amount.

    Extended loan tenures up to 30 years and zero charges on pre-payments and foreclosure ensure a comfortable loan repayment period. The Bank of Baroda also offers free accident insurance on all their loans.

    Baroda Home Loan

    Key Highlights

    • Attractive interest rates and low processing fees
    • Repayment tenures up to 30 years
    • Free accident cover on your housing loan
    Interest Rate Processing Fee
    8.65% p.a. to 9.65% p.a. Up to 50% of the loan amount (Min. Rs.7,500; Max. Rs.20,000)
    1. Baroda Home Loan Advantage
      • Borrowers can choose to deposit his/her savings to the savings bank account to avail interest benefits in the loan account.
      • Sanctioned loan linked to the savings bank account.
      • Interest calculated on the daily outstanding credit balance in the savings bank account.
      • EMIs auto-recovered from the loan-linked savings bank account
      Loan Slab Interest Rate Processing Fee
      Up to Rs.75 lakh 8.65% p.a. to 9.65% p.a. Full waiver of processing fee (Rs.7,500 plus GST payable upfront)
      Above Rs.75 lakh 8.90% p.a. to 9.90% p.a.
    2. Bank of Baroda Home Improvement Loan
      • Attractive floating interest rates linked to one-year MCLR
      • Maximum moratorium period of 36 months
      • Maximum loan amount of Rs.1 crore in semi-urban and rural areas; Rs.5 crore in metro cities and Rs.10 crore in Mumbai
      • Group credit life insurance cover for the borrower and his/her family.
      Interest Rate Processing Fee
      8.65% p.a. to 9.65% p.a. Up to 50% of the loan amount (Min. Rs.7,500; Max. Rs.20,000)
    3. Baroda Home Loan Advantage for NRI/PIOs
      • Sanctioned loan linked to the savings bank account
      • Borrowers can deposit their savings to the linked account to enjoy better interest benefits in the loan account
      • Interest charged on daily outstanding credit balance in the linked savings bank account
      • EMIs recovered only from the linked savings account
      Loan Slab Interest Rate Processing Fee
      Up to Rs.75 lakh 8.65% p.a. to 9.65% p.a. Rs.7,500 plus GST payable upfront
      Above Rs.75 lakh 8.90% p.a. to 9.90% p.a.
    4. Baroda Home Improvement Loan for NRI/PIOs
      • Can be availed for the purpose of improvement/repair/renovation of an existing property.
      • Loan tenures up to 30 years with maximum moratorium period of 3 years
      • Zero charges on prepayment of loan
      • Interest charged on daily reducing balance at monthly rests
      Interest Rate Processing Fee
      8.65% p.a. to 9.65% p.a. Up to 50% of the loan amount (Min. Rs.7,500; Max. Rs.20,000)
    5. Baroda CRE Home Loan to NRI/PIOs
      • Suitable for NRI/PIO borrowers looking to avail housing finance for his/her third house onwards
      • Applicable rate of interest is set 0.25% higher than the regular Baroda Home loan for NRI/PIOs
      • No prepayment and foreclosure charges
      Interest Rate Processing Fee
      8.90% p.a. to 9.90% p.a. Up to 50% of the loan amount (Min. Rs.7,500; Max. Rs.20,000)
    6. Baroda Home Loan for NRI
      • Competitive rates of interest
      • Free accidental insurance offered on the loan
      • Extended loan repayment tenures up to 30 years

    Bank of Baroda Home Loan Calculator

    Calculate the EMI payable towards your Bank of Baroda housing loan using the BankBazaar Home Loan EMI Calculator. All you have to do is key in a few parameters such as loan amount, applicable interest rate, tenure and the processing fee. The automized tool calculates your EMI on the basis on the entered values and provides the break-up of the total amount payable during the entire loan tenure.

    A detailed amortization schedule indicating all your debt repayments towards the principal and interest component of your home loan is also provided.

    Bank of Baroda Home Loan Eligibility Criteria

    Eligibility Criteria Requirement
    Age Applicant:
    • Minimum Age: 21 years
    • Maximum Age: 70 years
    Co-applicant:
    • Minimum Age: 18 years
    • Maximum Age: 70 years
    Residency Status
    • Resident Indian
    • Non-Resident Indian (NRI)
    • Person of Indian Origin (PIO)
    Type of Employment The applicant can be:
    • Salaried
    • Self-employed

    Document Required for All Home Loan Applicants Under Bank of Baroda

    Identity Proof (any one)
    • Valid Passport
    • PAN Card
    • Driving License
    • Voter ID
    • Aadhaar Card
    Proof of Residence (any one)
    • Aadhaar Card
    • Voter ID
    • Driving License
    • Passport
    • Copy of Utility Bills
    Age Proof (any one)
    • Birth Certificate
    • Voter ID
    • Valid Passport
    • Aadhaar Card
    Proof of Income
    • Latest Form 16 or Income Tax (IT) Returns
    • Last 6 months’ bank account statements
    Other Documents
    • Processing fee cheque favouring the bank
    • Duly filled and signed application form with passport size photographs of the applicant and co-applicants

    Bank of Baroda Pradhan Mantri Awas Yojana

    Bank of Baroda offers housing finance to eligible families and beneficiaries through the Credit Linked Subsidy Scheme (CLSS) under the Pradhan Mantri Awas Yojana Scheme (PMAY). Under this scheme, beneficiaries can avail interest subsidies ranging from 3.00% to 6.50% depending on the income category they belong to. The categories eligible under PMAY are:

    • Economically Weaker Section (EWS)
    • Low Income Group (LIG)
    • Middle Income Group (MIG –I & MIG – II)
    Category Annual Household Income Interest Subsidy
    EWS Up to Rs.3 lakh 6.50%
    LIG Rs.3 lakh to Rs.6 lakh 6.50%
    MIG - I Rs.6 lakh to Rs.12 lakh 4.00%
    MIG - II Rs.12 lakh to Rs.18 lakh 3.00%
    Bank of Baroda Home Loan FAQs
    1. What is the maximum home loan amount I am eligible for?

      Bank of Baroda offers housing finance up to Rs.1 crore for eligible customers in the rural and semi-urban areas. While borrowers in the metro cities can avail loans up to Rs.5 crore, the maximum loan amount one is eligible for in Mumbai is Rs.10 crore.

    2. What are the prepayment charges on home loans?

      Bank of Baroda does not charge you any penalty on prepayments towards your loan at present.

    3. What are the processing charges applicable on my loan?

      While the bank charges a processing fee up to 0.50% of the loan amount plus applicable taxes on their housing loans, some loan products can also be availed with a full waiver of processing charges.

    4. What is the applicable interest rate on Bank of Baroda housing loans?

      As of 17 April 2019, the rate of interest associated with Bank of Baroda home loans starts at 8.65% p.a. This brings the EMI per lakh down to Rs.780 for loan tenures up to 30 years.

      

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    Bank Of Baroda Home Loan Reviews

    • Bank of Baroda Home Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      I got the great experience in Bank of Baroda. I just visited the branch once and they have given a home loan on time. When i shifted to different place, i was planning to pre-closure the loan at the time the staffs are helpful. I bought the loan amount of Rs. 18 lakhs with the tenure period of 15 years but it got closed in 10 years.
      Was this review helpful? 4
      , jaipur
      Reviewed on Nov 08, 2019
    • Bank of Baroda
      Bank of Baroda Home Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I have applied for Home loan directly through Bank Of Baroda and got the loan on stipulated time .This loan was upto 15 years and got the loan amount on time ,The agent gave all the required information about the loan process .I have got all the required details about the loan process and there was no drawbacks faced as well.
      Was this review helpful? 3
      , surat
      Reviewed on Sep 29, 2019
    • Bank of Baroda Home Loan
      "Great Experience"
      0.5 4.5/5 "Excellent!"
      Because the project i have selected which is approved by Bank of Baroda and it was smooth transaction and i just given my documents and i haven't faced any hassles. They have offered me a interest rate of 8.25%. They immediately sanctioned loan and it got credited within 15 days.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Aug 04, 2019
    • Bank of Baroda Home Loan
      "This is a best option for housing loan"
      0.5 4.5/5 "Excellent!"
      14 months before, i have taken my home loan from Bank of Baroda. I have chosen them because they have provided me a best rate of interest available in the market. When i got the loan it was 8.3% which is a floating one. They have sanctioned the loan about 15 days.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jul 20, 2019
    • Bank of Baroda Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for Bank Of Baroda Home loan directly through Bank .The rate of interest and the processing fee was very less and it is comfortable for me ,I have applied for the loan amount of 13 lakhs for the tenure of 10 years ,I have got the loan amount on time and it was sufficient as well .
      Was this review helpful? 0
      , imphal
      Reviewed on Jul 11, 2019
    • Bank of Baroda Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      I am processing a home loan with Bank of Baroda and they are offering good service. The documents are submitted directly to the bank. The documentation process was more lengthy. I am not satisfied with the customer service but the rate of interest was good. They told me a processing fee of 0.5%. I have requested for a tenure of 20 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 02, 2019
    • Bank of Baroda Home Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I had applied for a home loan and It was with BANK OF BARODA .I was highly impressed. My home loan was approved in few days.Loan amount is satisfactory . They are awesome and they take care of you need very well.The good thing about BANK OF BARODA is their customer service.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 23, 2019
    • Bank of Baroda Home Loan
      "Service should be improved"
      0.5 2.0/5 "Expected more"
      Bank of Baroda taken long time to process my home loan application. But the best thing the interest rate is good. They have fulfilled my need by approving the entire amount , the processing fee was there it was minimal. But I suggest the service needs lots of improvement because they collected documents five times from me it was really disappointed.
      Was this review helpful? 2
      , new delhi
      Reviewed on Jun 08, 2019
    • Bank of Baroda Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken Home Loan through Bank Of Baroda took before 4 months ,the rate of interest and processing fee was good and nominal ,the loam amount was 52lakhs for the tenure of 25years ,the loan amount got on time it was sufficient ,directly applied with bank ,I have submitted documents as well ,so far not faced any issue ,The process was very smooth as well .
      Was this review helpful? 0
      , chennai
      Reviewed on May 14, 2019
    • Bank of Baroda Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I took a home loan with Bank of Baroda in the year of 2012. The interest rate is reasonable and there was no processing fee which was the major benefit. The customer service is helpful and have taken a residential property. The loan duration is 25 years.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 13, 2019
    • Bank of Baroda Home Loan
      "Good Offline support"
      0.5 5.0/5 "Blown Away!"
      The rate of interest is good in Bank of Baroda since its a government bank, the staff are helpful and they assisted to get the loan amount on time. My principal amount is Rs. 51 lakhs for the duration of 25 years, I got floating interest of 8.5% it was affordable.
      Was this review helpful? 1
      , mumbai
      Reviewed on Apr 26, 2019
    • Bank of Baroda Home Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have taken the housing loan with the BANK OF BARODA and i would like to give them more than 5 star rating because the the service is very good with this bank. They have given the loan amount which is satisfactory and the rate of interest was 8.7% with this loan.
      Was this review helpful? 1
      , new delhi
      Reviewed on Mar 09, 2019
    • Bank of Baroda Home Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      Bank of Baroda branch is located near to my place, hence I done home loan balance transfer from HDFC to this bank. For the remaining out standing of Rs.18.60 lakhs from 20 lakhs. The paper work was smooth for the balance transfer, my home loan transfered within 33 days. I am not fully satisfied with all parameters because I am not aware of the complete benefits.
      Was this review helpful? 2
      , kolkata
      Reviewed on Feb 18, 2019
    • Bank of Baroda Home Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I took a home loan with Bank of Baroda and it has been cleared. The rate of interest was reasonable. I took this loan before 10 years. I think have done a foreclosure with 1% or 2% which I don't remember now. I have purchased a residential property.
      Was this review helpful? 5
      , mumbai
      Reviewed on Feb 07, 2019
    • Bank of Baroda Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I had taken a Home loan with Bank of Baroda and the time when i submitted application for home loan, they have considered my application and also they processed my application on time . There was no hurdle and it was a easy go. Overall it is average service with bank of Baroda.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 26, 2019
    • Bank of Baroda Home Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan with Bank of Baroda and my experience was good, the loan amount was sufficient and the rate of interest was nominal when compared to other banks. Customer service was good and they responded on time. Tenure period for this loan is 27 years.
      Was this review helpful? 3
      , bhubaneshwar
      Reviewed on Jan 21, 2019
    • Bank of Baroda Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The experience i had with this loan has been quite good where the process was very simple and smooth. The loan amount which they had provided has been sufficient and the interest rate which they offered me was very less when compared with the market rate. The charges which they had made has been nominal as well.
      Was this review helpful? 4
      , navi mumbai
      Reviewed on Jan 18, 2019
    • Bank of Baroda Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I had taken a Home loan with Bank of Baroda and the time when i submitted application for home loan, they have considered my application and also they processed my application on time . There was no hurdle and it was a easy go. The interest rates i have on my loan is 9.45%.
      Was this review helpful? 2
      , mumbai
      Reviewed on Jan 13, 2019
    • Bank of Baroda Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The experience with this Home loan has been quite good and the loan amount which they had provided has been satisfactory as well. The interest rate with them has been nominal when compared with the market rate and the processing fee has been not too high. There has not been any sort of charges which they had made so far.
      Was this review helpful? 3
      , ahmedabad
      Reviewed on Dec 20, 2018
    • Bank of Baroda Home Loan
      "AVERAGE"
      0.5 3.0/5 "Satisfactory"
      The interest rate is very higher with this loan. The core banking is higher rate of interest but the duration is for 15 years ti repay the and i have closed the loan. Pre closer i have done with applicable charges with 1%. The process is not quick to get the loan.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 01, 2018
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