A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    We found 1 Bank of Baroda NRI 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 NRI Home Loan is Rated as "Excellent!" by 66 Users

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    Overview of Bank of Baroda NRI Home Loans:

    A place to come home to that we can call our own is everyone’s dream. However with the skyrocketing rent prices as well as property rates, most of us find it difficult to make this dream a reality. As a Non Resident Indian, you might wish to buy a home in India, but cannot afford to do so on your own. Bank of Baroda has home loans specially designed for NRI’s, an oft-ignored category in the Indian housing segment. Now you too can realise your dream of owning a home in India.

    Bank of Baroda was started in the year 1908 in Baroda, Gujarat and has grown into a banking giant, with a presence in over 25 countries and growing. The bank provides financial products and services to its customers through it retail and commercial banking divisions, providing services to both resident Indians as well as those living overseas. Being an established name in the financial sector, the bank’s loan products are highly rated and customers availing of its loans can be assured of quality service and the best in banking.

    Features of Bank of Baroda NRI Home Loan:

    The Bank of Baroda has extended its home finance services to Indians residing abroad as well, providing this market with loan options that are marked by the bank’s stellar customer service and proven record of excellence. The features that set its loans apart are:

    • Streamlined application process
    • Quick and hassle-free sanction and loan disbursal
    • Option of flexi rate of interest

    NRI’s can apply for a Bank of Baroda home loan for any of the following:

    • For the purchase of a house/apartment.
    • For the construction of a house/apartment on an existing plot of land.
    • For renovation or repairs made in a house/apartment owned by the applicant.
    • For the purchase of a plot of land with the objective of building a residential house on it.
    • For additions/ extensions made to an existing house/apartment owned by the applicant.

    Bank of Baroda NRI Home Loan Eligibility:

    The eligibility criteria for a Bank of Baroda Home Loan for NRI’s is given below:

    • Applicants should be between the ages of 21 years to 65 years at the time of application.
    • Non-resident Indian holding an Indian passport or a Person of Indian Origin (PIO) with a valid foreign passport.
    • Minimum yearly income should be equivalent to Rs. 5 lakhs per annum.
    • Must be employed and have a regular income source or show proof of a business/self-employment for a minimum of 2 years abroad.
    • For repayment of an existing home loan (on producing valid documentation proof)

    Bank of Baroda Home Loan Rate of Interest:

    The Bank of Baroda has a set of interest rates for NRI home loans, which are mentioned below:

    • There are no fixed rate loans.
    • Floating interest rate loans- base rate of 9.65% for all loan tenures.
    • Home improvement or renovation loans would be the base rate (9.65%) plus an additional 2.50%.

    Bank of Baroda NRI Housing Loan Documentation:

    NRI applicants who are eligible to apply for a home loan are required to submit a list of documents to the bank for the purpose of verification. The loan amount is sanctioned only after the bank is satisfied that the applicant will be able to repay the loan over the course of the tenure. The documents to be submitted are given below:

    • Application form duly filled in and signed
    • Employment contract copy (if not in English, a translated copy is to be submitted, attested by the Indian embassy or employer)
    • Copies of salary slips for the past 6 months (certified)
    • Identity card issued by current employer (photocopy)
    • Visa as stamped on passport (photocopy)
    • Continuous Discharge Certificate (CDC), if applicable
    • Income tax returns copies (either Indian or foreign)
    • Overseas bank account statements (past 6 months)
    • CV/resume detailing educational qualifications, work experience, age, type of work with supporting documents
    • NRE bank account statement/passbook
    • Salary certificate attested by the Indian foreign office or other agency as specified.
    • Employer’s undertaking regarding remittance of monthly loan instalment, if feasible.

    For Self-employed:

    • Note on the nature of business or profession, clients, suppliers etc
    • Profit and loss accounts and balance sheets with certified income tax returns for the past three years

    For PIO:

    Copy of PIO car or copies of any one of the below:

    • Indian passport, if held previously
    • Current passport mentioning place of birth
    • Parents or grandparents passports to substantiate Indian origin claims

    Property Documents:

    • Proof of purchase documents (payment receipt, sale deed/sale agreement)
    • Approved drawings for construction copies
    • Permission from local authorities for construction
    • Allotment letter from society for apartment owners.

    Bank of Baroda NRI Home Loan EMI Calculator:

    NRI’s thinking of applying for a home loan can ascertain the amount they would have to pay towards their monthly loan repayments through the EMI calculator. This calculator computes the amount payable just by entering the loan amount, loan tenure and rate of interest.

    BOB Home Loan Repayment:

    Home loans can be repaid over a maximum period of 15 years or on the applicant attaining 65 years of age, including the 18 month moratorium period. Bank of Baroda provides its customers with a choice of repayment options, as mentioned below:

    • Equated monthly instalments
    • Close relatives paying on behalf of the applicant through remittances
    • Remittances through regular banking channels or NRE/NRO accounts.

    Bank of Baroda NRI Home Loan FAQ’s:

    1. What is the security to be provided for a NRI home loan?

      Applicants have to provide legal mortgage of the property being constructed or purchased/being repaired.

      The spouse/ a family member living in India’s personal guarantee. If spouse is also abroad, personal guarantee of Indian residents will be taken.

    2. What are the early payment penalties?

      There are no penalties or charges for early payment or clearance of the home loan.

    3. What is the maximum loan amount that can be availed?

      The maximum loan amount that can be availed is Rs. 300 lakh in urban and metro areas and Rs. 100 lakh in rural and semi-urban areas.

    4. What are the additional charges associated with an NRI home loan?

      Below are the additional charges (exclusive of service tax):

      • Unified processing charges for loans up to Rs. 30 lakhs- 0.50 of the limit, minimum amount being Rs. 5,000.
      • Unified processing charges for loans above Rs. 30 lakhs- 0.40 of the limit, minimum amount being Rs. 15, 000 and maximum Rs. 50, 000.
      • Take-over of home loan- 0.10 %, maximum of Rs. 10, 000.
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  • Bank of Baroda NRI Home Loan Reviews

    • 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
    • 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
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