A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    Bank Of Baroda Home Loan

    We found 1 Bank Of Baroda Home Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.35% - 9.35% Fixed
    7,500 to ₹20,000
    1L - 2Crs
    30 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria

    Bank Of Baroda Home Loan is Rated as "Excellent!" by 63 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Home Loan BYTES FROM OUR KITCHEN

    Bank of Baroda (BOB) is an Indian state-owned banking and financial services company headquartered in Vadodara (earlier known as Baroda) in Gujarat, India. It is the second-largest bank in India, and offers a range of banking products and financial services to corporate and retail customers through its branches and through its specialised subsidiaries and affiliates. It has been a long and eventful journey of almost a century across 25 countries. Starting in 1908 from a small building in Baroda to its new hi-rise and hi-tech Baroda Corporate Centre in Mumbai, is a saga of vision, enterprise, financial prudence and corporate governance. To be a top ranking National Bank of International Standards committed to augmenting stake holders' value through concern, care and competence.


     

    You’re probably eligible for an Bank of Baroda Home Loan if you are

    01
    02
    03
    04
    Bank of Baroda Home Loan Minimum Age

    At least 21 years old

     Bank of Baroda Home Loan Maximum Age

    Less than 70 years old

    Bank of Baroda Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    Bank of Baroda Home Loan Minimum Income

    Earn more than the minimum
    income required


     

    Your Bank of Baroda Home Loan amount eligibility is based on these factors

    01
    02
    03
    Bank of Baroda Home Loan Minimum Salary

    Earn more than the minimum
    income required

    Bank of Baroda Home Loan Maximum Loan to property value

    Loan capped @ 75% of property value

    Bank of Baroda Home Loan EMI

    EMIs of other loans lower
    your eligibility


     

    Increase your eligible Bank of Baroda Home Loan amount by these steps

    01
    02
    03
    Bank of Baroda Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    Bank of Baroda Home Loan Maximum Tenure

    Choose longer tenure loan up to 30 years

    Bank of Baroda Home Loan Add parents as Co-applicant

    Alternatively add your parents


     

    Documentation needed to apply for an Bank of Baroda Home Loan

    • 1. Signed application form with photograph
    • 2. ID and residence proof
    • 3. Last 3 months bank statements
    • 4. Latest Salary certificate/ Last 3 months Salary-slips
    • 5. Documentation for salaried applicants:
      • Form 16/Income tax returns (2 years)
    • 6. Documentation for self-employed applicants:
      • Income Tax Returns for latest year

     

    Bank of Baroda Home Loan Interest RatesUpdated on 23 May 2017

    Bank of Baroda Home Loan Details
    Interest Rate 8.35% to 9.35%
    Processing Fees 0.5% - 0.25% of the Loan Amount (Min of Rs.7500 to Max of Rs.20,000)
    Loan Tenure 30 years
    Pre-closure Charges Nil

     

    Bank of Baroda Home Loan

    Home loans are one of the easiest means of owning a house for the salaried class and small businesspersons. Home loans allow you to own a house without massive upfront investments. Longer loan tenure, low interest rates and high loan amounts work in favor of home loans. All major banks offer home loans to its customers.

    Bank of Baroda’s home loans can be used for various home-related purposes such as:

    1. Purchase of a newly constructed house
    2. Purchase of an existing house
    3. Purchase of a plot
    4. Construction of a house
    5. Home improvement and extension
    6. Transfer of home loan from another bank

    Features of Bank of Baroda Home Loan:

    Here are some of the reasons why you should choose home loans offered by Bank of Baroda:

    • Bank of Baroda offers different home loan products: Normal Home Loan, Home Loan to NRIs and PIOs; Home Improvement Loan; Baroda Home Loan Advantage; Baroda CRE Home Loan; and Baroda CRE Home Loan (Advantage).
    • The repayment tenure depends on the age and income of the borrower.
    • The bank offers both fixed and floating rates of interest for its home loans.
    • The home loan will be linked to savings account which adds to the advantage of the home loan account. The interest on home loan is calculated based on the daily outstanding balance in the savings account.
    • EMIs can be paid through the linked savings account and post-dated cheques or other means of remittance are not required.
    • Bank of Baroda Home Loans come with a complimentary Personal Accident Insurance for specific periods.
    • Home loan customers also get a credit card complimentary for the first year, with a loan limit of Rs. 2 lakh and above.
    • Home loan customers get a discount of 0.25% in interest rate on car loans and 0.5% in interest rate for Loan for Consumer Durables.
    • You can avail top-up on your home loan up to 5 times during the loan period. The minimum top-up loan amount is Rs. 1 lakh, while the maximum is either Rs. 2 crore or 75% of the residual value of the house after subtracting 150% of the outstanding loan amount, whichever is lower.
    • There are no charges in case the customer wishes to pre-pay the loan in part or full.

    Bank of Baroda Home Loan Eligibility:

    To be eligible for Bank of Baroda Home Loan, you need to meet the following criteria:

    • Minimum age: 21 years
    • Maximum age: Salaried individuals should have at least 1 year of service pending
    • Maximum repayment period: 30 years

    Minimum salary details have not been specified by the bank, but details can be obtained from any branch office of the bank. Loan eligibility is as follows:

    Monthly Income Loan availability
    Up to Rs. 20,000 Monthly income X 36
    More than Rs. 20,000 and up to Rs. 1 lakh Monthly income X 48
    More than Rs. 1 lakh Monthly income X 54

    The ratio of loan to value (LTV) – which is the amount of loan you can avail in proportion to the value of the property – is as mentioned below:

    Loan amount LTV
    Up to Rs. 30 lakh 90%
    More than Rs. 30 lakh and up to Rs. 75 lakh 80%
    More than Rs. 75 lakh 75%

    Bank of Baroda Home Loan Documentation:

    Those wishing to obtain a home loan from Bank of Baroda need to have the following documents at hand:

    • Passport size photographs
    • Proof of identity, residence and age
    • Proof of office/business address
    • Bank statements of the last 6 months
    • Copy of Income Tax Returns of the last 3 years
    • Proof of investments such as insurance, fixed deposits or shares and stocks
    • Payslips of the last 3 months for salaried persons
    • For business owners/self-employed persons: Verified copies of Balance Sheets, Profit and Loss accounts, IT Return, assessment orders, advance tax challans (for both company/firm and personal account) for the last 3 years
    • Copy of documents related to the property to be purchased

    Bank of Baroda Home Loan Interest Rate & Fees:

    The interest rates for various Bank of Baroda Home Loan products are as follows:

    Loan Product Interest Rate
    Baroda Home Loan, Baroda Home Improvement Loan 1 year MCLR – 1 year MCLR +1%, depending on the risk rating of the applicant(s)
    Baroda Home Loan Advantage Up to Rs.75 lakh: as per normal home loan rate More than Rs.75 lakh: 0.25% higher than normal rate
    Baroda CRE Home Loan 0.25% more than normal home loan rate
    Baroda CRE Home Loan (Advantage) Up to Rs.75 lakh: 0.25% higher than normal rate More than Rs.75 lakh: 0.50% higher than normal rate

    Other applicable fees and charges for a home loan are:

    Unified processing charges: 0.5% of the loan amount if the loan is less than Rs. 50 lakh with a minimum of Rs.7,500 and a maximum of Rs. 12,500, and 0.25% of the loan amount if the loan is more than Rs. 50 lakh with a minimum of Rs.7,500 and a maximum of Rs.20,000. For home loan takeover schemes, Rs.7,500 is levied.

    For Additional Assured Advance (AAA), it is 0.25% of the loan amount with a minimum amount of Rs.5,000 to Rs.12,500 (maximum)

    Bank of Baroda Home Loan MCLR:

    Banks have shifted to Marginal Cost of Funds-Based Lending Rate from Base Rate from April 7, 2016 as per an RBI directive. The interest rates on various products will be based on these MCLR. The relevant MCLR rates of the bank are as given below:

    Loan Tenor MCLR Rate
    Overnight 8.10
    1 month 8.15
    3 months 8.20
    6 months 8.30
    1 year 8.35
    3 years 8.50
    5 years 8.65

    Bank of Baroda has set its benchmark MCLR for home loans as the 1-year MCLR. RBI allows banks to add a spread to the MCLR to arrive at the final interest rate for its loan products.

    The base rate fixed by Bank of Baroda as on July 1, 2016 is 9.6%, which is applicable to borrowers before April 1, 2016.

    Bank of Baroda Home Loan EMI Calculator:

    Using an EMI Calculator is a great way to arrive at approximate EMIs and find out what interest rate, loan tenure and EMI works the best for you. You can determine the EMI for the loan amount you are seeking by making use of the EMI Calculator on BankBazaar.com.

    • Go to BankBazaar.com and click on the Menu tab on top right corner of the page.
    • Click on ‘Finance Tools’ and choose the ‘EMI Calculator’ option.
    • Using sliders, you can adjust the loan amount and tenure.
    • Type in the interest rate of Bank of Baroda Home Loan and the processing fees.
    • You can also indicate whether you want to make any pre-payments. Once all data has been input, click on ‘Calculate’.
    • The EMI wizard will come up with results and charts based on the data you provided.

    News About Bank of Baroda Home Loan

    • Bank of Baroda cut its interest rate on home loans by 70 bps to 8.35%

      The government had asked the banks to cuts its lending rates. On January 7th, Bank of Baroda had cut its interest rate on home loans by 70 bps to 8.35%. Currently, BoB is the market leader in offering cheapest home loans, defeating SBI by 25 bps cut in home loan interest rates. The bank has also cut interest rates on loans against mortgages to 10.35% and car loans to 8.85%. Previously, State Bank of India was the market leader in offering home loans at the lowest interest rate of 8.6%. It had cut its interest rates on home loans by 50bps from 9.1% to 8.6% for women and 8.65% for men. Following SBI’s cut in interest rates, ICICI bank, and DFC bank also cut their interest rates on home loans to 8.70%. Arundhati Bhattacharya, the Chairman of SBI said that the bank might further revise its interest rates based on the rate cuts made by its competitors. BoB’s recent rate cut on home loans may attract borrowers from its competitors.

      3rd January 2017

    • Bank of Baroda in talks to buy Cent Bank Home Finance Ltd

      Bank of Baroda plans to strengthen its position in the home loan segment by buying a majority stake in Cent Bank Home Finance Ltd. Central Bank holds 64% stake in CBHFL, and could get Rs.250 crores for it. The home loan market is growing at 25 to 30%. Home loans currently constitute 10% of the overall advances of Bank of Baroda at Rs.26,327 crores, registering a year-on-year growth of 12%. BoB has appointed SBI Capital Markets, while Central Bank has appointed 2 merchant bankers including IDBI Capital as advisors. This deal is Central Bank’s attempt to shore-up its bleeding balance-sheet, which has been affected by mounting bad loans in the past few years.

      22nd December 2016

    • Bank of Baroda Planning To Cut Down Loan Approval Times

      Bank of Baroda (BoB) has decided to sanction home loans and automobile loans at an expedited pace.

      BoB General Manager P Narasimha Rao said the bank has reduced the time taken to approve home loans to 6 days through digitalisation. The bank aims at cutting this time down further to 1 hour, he said.

      Automobile loans currently take up to 3 days to be approved, and the bank will strive to sanction them in minutes, he added.

      Bank of Baroda also plans to open savings accounts within 5 minutes and improve the efficiency of ATMs.

      4th August 2016

       
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  • Bank Of Baroda Home Loan Reviews

    • Bank of Baroda Home Loan
      "Good deal on the ROI"
      0.5 2.0/5 "Expected more"
      The initial part of the process was not up to the mark with Bank of Baroda for the home loan. There was a lot of difficulties in getting my loan through. But the after loan services has been good and the rate of interest and processing charges has been reasonable as well.
      Was this review helpful? 0
      , jaipur
      Reviewed on May 12, 2017
    • Bank of Baroda Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      Long back ago I availed home loan from Bank of Baroda. At that time the interest rate was very normal and even the documentation process was very simple. They processed my home loan within the given time and disbursed the amount on time. The process went smooth and I am satisfied with them.
      Was this review helpful? 2
      , anantapur
      Reviewed on Apr 04, 2017
    • Bank of Baroda Home Loan
      "Very good service"
      0.5 4.5/5 "Excellent!"
      Interest rate is 8.35% and the processing fee is .5% for my home loan from Bank of Baroda. Initially, I applied for a home loan with HDFC Ltd but later I came to know that BOB is giving the loan with lesser interest rate, hence I moved to BOB for my home loan. Now I am very much satisfied with their services. The documentation process was very simple. It is good overall.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Apr 03, 2017
    • Bank of Baroda Home Loan
      "Satisfied"
      0.5 4.0/5 "Great!"
      I directly approached Bank of Baroda for my housing loan. They offered me with the interest rate of 8.35% with zero processing fees. I am quite happy as I am getting good response as well as good rate of interest than the other banks. Their kind of customer service is cool.
      Was this review helpful? 3
      , nasik
      Reviewed on Mar 31, 2017
    • Bank of Baroda Home Loan
      "Its Nice"
      0.5 5.0/5 "Blown Away!"
      I have taken from Home loan from BOB, I already done the part payment. Earlier I was taken the home loan amount around Rs.13 Lakhs now I paid the part payment of Rs.9 lakhs . Then BOB changed my interest rate, tenure and EMI amount. I didn't hassle with BOB. But it is great, BOB reduce the interest rate as per current market.
      Was this review helpful? 1
      , kolkata
      Reviewed on Mar 16, 2017
    • Bank of Baroda Home Loan
      "They should done a fast process"
      0.5 3.0/5 "Satisfactory"
      Bank of Baroda response is not that much faster compared to other banks. But their interest rate is low they offered me around 8.35% and as per the bank policy they collecting Rs. 8000 for balance transfer process. I had submitted my documents day before yesterday, I just expecting the process to be complete within this week.
      Was this review helpful? 5
      , noida
      Reviewed on Mar 06, 2017
    • Bank of Baroda Home Loan
      "Comforatble And Low Interest Rate"
      0.5 5.0/5 "Blown Away!"
      Bank Of Baroda provides the lowest Interest rate for home loan. Customer service is good, their executive coordinated very well, I had submitted all the documents to executive. They started my loan process, My loan process would be done within a week.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 28, 2017
    • Bank of Baroda Home Loan
      "Good to go"
      0.5 4.0/5 "Great!"
      I am holding a home loan with the Bank of Baroda and the interest rate is around 8.35% and the loan amount got disbursed to my account within a week of time. Processing charges were much lower than other banks like it was around 4000 Rupees. Response was good one with the Bank of Baroda and I am having a friend over there and that made me to complete the process easy.
      Was this review helpful? 0
      , jaipur
      Reviewed on Feb 25, 2017
    • Bank of Baroda Home Loan
      "Worst bank ever"
      0.5 0.5/5 "Unacceptable"
      I took a NRI home loan from Ambawadi Branch, Ahmedabad. can't even handle local, BOB is not even eligible to be a local bank forget about international. I have NRI home loan and savings account with them. First of all they told us they can do all paperwork in 15 days it took over a month for them to do everything. after the loan is done. it is impossible to get hold of anyone who can answer your question over the phone. they cut the phone or never pick up, never answer any email ever. really Frustrating. So beware before you open account here or take a loan. go somewhere else
      Was this review helpful? 2
      , ahmedabad
      Reviewed on Feb 15, 2017
    • Bank of Baroda Home Loan
      "Easy process & good deal"
      0.5 5.0/5 "Blown Away!"
      In 2012, I had taken a home loan for a land cum construction. The process was filing my papers and processing the loan and also disbursing the funds as and when needed was excellently done by Bank of Baroda. The bank is also not high in the charges and it has always been the best experience.
      Was this review helpful? 3
      , chennai
      Reviewed on Jan 03, 2017
    • Bank of Baroda Home Loan
      "Excellent services & process"
      0.5 5.0/5 "Blown Away!"
      I have earlier taken a home loan from Bank of Baroda in the year 2007 as I wanted to purchase a flat. They have been helpful in completing the process smoothly. They also completed the loan process within 15 to 20 days and they were also not high on the interest and charges.
      Was this review helpful? 1
      , chennai
      Reviewed on Jan 03, 2017
    • Bank of Baroda Home Loan
      "Good services"
      0.5 4.0/5 "Great!"
      I had my home loan earlier with the Bank of Baroda, the process with them was convenient to get my loan and it was on time. Like wise the after loan services was smooth too. I did not face any hassles for the closure as well. I got all my papers and overall a very good experience.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Dec 09, 2016
    • Bank of Baroda Home Loan
      "People bank"
      0.5 5.0/5 "Blown Away!"
      The lender bank of baroda is too good as the Interest rate offered by them was the lowest in the market so as the service. I am holding this for a period of 2 years there is no issues nor any challenges as such. I had got all the required documents from them on time and I had also got the certificate of interest from them through mail for my housing loan.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 07, 2016
    • Bank of Baroda Home Loan
      "Low processing charges"
      0.5 5.0/5 "Blown Away!"
      It was been observed during a facility of Term Loan used by me that a very minimal loan processing charges has been charged by the concerned bank when compared with other bank. Hence due to lower initial cost of processing charge it allows you to repay your interest repayment .
      Was this review helpful? 1
      , mumbai
      Reviewed on Jun 03, 2016
    • Bank of Baroda Home Loan
      "Very homely bank "
      0.5 5.0/5 "Blown Away!"
      Bank of Baroda is a nice bank because they always help me out for the home loan. It is hassle free bank. Rate of interest charged is low than any banks as they charge 9.5% floating. They took maximum 15 days to complete the producer. Whenever we want to talk to the manager we can easily approach. For any queries they use to take maximum three days.
      Was this review helpful? 1
      , kolkata
      Reviewed on May 03, 2016
    • Bank of Baroda Home Loan
      "Good "
      0.5 3.5/5 "Pretty good"
      The service provided was good with Bank of baroda related to the saving account.They are requiring very less minimum balance in the account.The response provided in the bank was good.I may recommend the service to others for getting a saving account.
      Was this review helpful? 1
      , raipur
      Reviewed on Mar 04, 2016
    • Bank of Baroda Home Loan
      "Easy process!"
      0.5 5.0/5 "Blown Away!"
      Bank of Baroda processed my home loan within 7 working days. Documentation was very comfortable with them. 11.5% is the interest rate offered for the home loan, but I felt the interest rate is high with them. Hence I made a balance transfer for the remaining loan amount.
      Was this review helpful? 1
      , mumbai
      Reviewed on Feb 18, 2016
    • Bank of Baroda Home Loan
      "Excellent Services"
      0.5 5.0/5 "Blown Away!"
      The services are good from Bank of Baroda. I have taken my home loan from them. The services was good. They contacted me on time and also processed the loan within 12 days. I got the loan for the rate of interest of 9.5%. The processing charges was of 3K. And I have also closed the home loan with no preclosure charges. I only had to pay the interest for that month.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 05, 2016
    • Bank of Baroda Home Loan
      "Availed the loan smoothly..."
      0.5 5.0/5 "Blown Away!"
      Bank of Baroda office is located near to my location and they helped me a lot in getting the home loan. There is a bit difference in interest rate comparing to private banks. Formalities for home loan are very simple and easy. My spouse is a co-applicant for this loan.
      Was this review helpful? 1
      , chennai
      Reviewed on Dec 29, 2015
    • Bank of Baroda Home Loan
      "Recommended "
      0.5 4.0/5 "Great!"
      I have tried to get a home loan with Bank of baroda it was not completed due to some personal reasons. The interest rate applied was around 13.5% for the home loan. The charges applied for the loan was nominal based on the home loan process.
      Was this review helpful? 2
      , solapur
      Reviewed on Dec 11, 2015
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