Bank of Baroda home loan interest rate starts from 7.25% 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.
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:
|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|
|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.
BoB housing loan offers interest rates linked to BLLR (Baroda Repo Linked Lending Rate). The current BLLR rate is 7.25% p.a.
Here are the BLLR home loan rates for various schemes:
|Bank of Baroda Home Loan Schemes||Interest Rate (p.a.)|
|Baroda Home Loan||7.25% to 8.25% p.a.|
|Baroda Home Improvement Loan||7.25% to 8.25% p.a.|
|Baroda Home Loan Advantage||7.25% to 7.50% p.a.|
|Baroda CRE Home Loan||7.50% p.a.|
|Baroda CRE Home Loan (Advantage)||7.50% p.a. to 7.75% p.a.|
|Baroda Top Up Loan (Resident/NRIs/PIOs)||7.80% p.a.|
|Baroda Ashray (Reverse Mortgage Loan)||9.05% p.a. onwards|
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 7.25% 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.
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.
|Type of Employment||The applicant can be:
|Identity Proof (any one)||
|Proof of Residence (any one)||
|Age Proof (any one)||
|Proof of Income||
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:
|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%|
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.
What are the prepayment charges on home loans?
Bank of Baroda does not charge you any penalty on prepayments towards your loan at present.
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.
What is the applicable interest rate on Bank of Baroda housing loans?
As of March 1, 2020, the rate of interest associated with Bank of Baroda home loans starts at 8% p.a. This brings the EMI per lakh down to Rs.780 for loan tenures up to 30 years.
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