A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    Bankbazaar 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% Floating
    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 74 Users

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    Home Loan BYTES FROM OUR KITCHEN

    Bank Of Baroda Home Loan

    Bank of Baroda Home Loan Interest RatesUpdated on 22 Oct 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 Housing 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:

    Bank of Baroda Housing 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.
    Apply for Home Loan Online

    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%

    Documentation Required for Bank of Baroda Home Loan:

    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:

    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

    BOB Applicable Fees and Charges for Housing Loan:

    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 May 7, 2017 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.

    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.

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar’s partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    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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      1st May 2014

       

    Bank Of Baroda Home Loan Reviews

    • Bank of Baroda Home Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      It was a very time process with the Bank of Baroda for the Loan against property. They completed the loan process on time and also offered a good rate of interest and processing fee. The services are very smooth and there was no struggle to get the loan.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 16, 2017
    • Bank of Baroda Home Loan
      "average"
      0.5 2.0/5 "Expected more"
      I have approached BANK OF BARODA for my home loan. I was looking for 15 lakhs and the interest rate was 8.855 which was average but they have asked me to start a fixed depostie for 3 lakhs to proceed with my home loan process . Their customer service and responses was not satisfactory . They are not providing door step service for the documentation collection also. My overall experience was average .
      Was this review helpful? 0
      , vapi
      Reviewed on Oct 14, 2017
    • Bank of Baroda Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      The home loan process went good with bank of Baroda. The loan got processed easily on time. The customer service and the executive with bank of Baroda is very good. The rate of interest is very nominal. The executive came to my place to collect the document, good.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Sep 30, 2017
    • Bank of Baroda Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      The home loan process is going smooth with bank of Baroda. The loan got processed my loan within 10days of time. The customer service and the executive with bank of Baroda is very good. The rate of interest is very low when compared with other banks. The home loan process is really good with bank of Baroda.
      Was this review helpful? 0
      , kolkata
      Reviewed on Sep 29, 2017
    • Bank of Baroda Home Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I have taken a home loan from Bank of Baroda and being a government sector bank, they take their own decisions without informing the customer on a prior basis. Though the loan has been closed now. It was not a very good experience overall. They need improvement.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 24, 2017
    • Bank of Baroda Home Loan
      "Excellent Service"
      0.5 4.0/5 "Great!"
      Really excellent service from BANK OF BARODA from the date I have applied for my home loan, even their bank managar have contacted me during my loan process .Document process was fine and they take care of it smoothly .Even the rate of intrest was also very low. Overall I got excellent service from BANK OF BARODA .
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 06, 2017
    • Bank of Baroda Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      Got the home loan from bank of Baroda. The required loan amount has been disbursed as per the eligibility. The rate of interest is very low as I am working with bank of Baroda. This loan has the tenure of 15 years. I pay Rs.25000 every month. Overall the service was good with bank of Baroda.
      Was this review helpful? 0
      , madurai
      Reviewed on Aug 31, 2017
    • Bank of Baroda Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had taken my home loan from Bank of Baroda. The customer support is good and the process was also fine. The documents were collected on time and the disbursement was also smooth without any hassles. The interest rate and charges were very much normal too.
      Was this review helpful? 1
      , kolkata
      Reviewed on Jul 07, 2017
    • Bank of Baroda Home Loan
      "Average "
      0.5 3.0/5 "Satisfactory"
      I have got the home loan with the Bank of Baroda and the interest rate is around 8.35%, also the loan amount got disbursed in couple of months of time. Document collection is like a kind of lengthy process. Processing charges were not okay for me, also they lack when it comes to transparency. They advised me to take the mortgage, which does not applicable with any other banker.
      Was this review helpful? 0
      , secunderabad
      Reviewed on Jun 24, 2017
    • Bank of Baroda Home Loan
      "Nationalized bank gives service like private bank"
      0.5 5.0/5 "Blown Away!"
      I got the home loan from Bank Of Baroda. I got it, around a year ago.The process was smooth with home loan. They took around 2 weeks to disburse my loan. The required loan amount has been disbursed by bank of Baroda. The Interest rate which, I got from bank of Baroda was really lowest in the market. The customer service is good with this bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 22, 2017
    • Bank of Baroda Home Loan
      "Satisfactory services"
      0.5 4.0/5 "Great!"
      My home loan is from Bank of Baroda and the process is smooth. I got the loan without much of a difficulty. The bank offered me a decent rate and there were no last minute changes in the charges. The response is a bit slow, I need to be behind them, else it was a satisfactory experience.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 15, 2017
    • 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? 5
      , 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? 4
      , 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? 3
      , ahmedabad
      Reviewed on Feb 15, 2017
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