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  • Bank of Baroda NRI Home Loan

    With the introduction of home financing schemes for the NRIs (Non-Resident Indians), it has become easier to purchase a home in India while staying abroad. Bank of Baroda offers various home loan schemes for NRIs, including Baroda Home Loan for NRI, Baroda Home Loan Advantage for NRI/PIOs, Baroda Home Improvement Loan for NRI/PIOs, among others.

    Competitive rates, hassle-free documentation process, high margin of financing, and long repayment tenures are some of the major highlights of these home financing plans.

    Eligibility Criteria

    • Non-Resident Indians having Indian passport, Persons of Indian origin (PIOs) holding foreign passport, or Overseas Citizens of India (OCI)
    • Minimum age of 21 years (18 years for co-applicant) to 70 years
    • Hindu United Families (HUFs) are not eligible
    • Should have a permanent job abroad for a minimum period of 2 years
    • Self-employed individuals should have a business unit overseas and living abroad for a minimum period of 2 years
    • Minimum annual income of Rs.5 lakh
    • If the co-applicant is an NRI, the combined annual income (applicant and co-applicant) of Rs.5 lakh can be considered

    Documents required for the Salaried and Self-employed

    • Employer’s ID card
    • Attested copy of passport and Visa
    • Address proof (overseas)
    • Identity proof
    • Indian residential address proof
    • Property-related documents
    • Latest bank account statements
    • Work permit proof
    • Last 3 months’ salary slips
    • Last 6 months’ bank statements
    • Employment contract letter
    • Latest profit and loss accounts audited and certified by C.A.(for the self-employed)
    • Business address proof(for the self-employed)
    • Last 6 months’ individual and company-related bank statements(for the self-employed)

    Features of Baroda Home Loan for NRI

  • Attractive interest rates 
  • Free complementary credit card with loans of Rs.2 lakh and above 
  • 0.25% concession on car loans 
  • Repayment tenure of up to 30 years 
  • Features of Baroda Home Loan Advantage for NRI/PIOs

  • The loan sanctioned will be linked with your savings account at zero interest rate 
  • EMI (equated monthly instalment) amount will be debited from the linked savings account through auto recovery 
  • Attractive interest rates 
  • Option to deposit all your savings in the account to save on the interest 
  • Baroda Home Improvement Loan for NRI/PIOs

  • Financing amount can be used to purchase a variety of items 
  • High margin of financing 
  • Competitive interest rates 
  • Flexible repayment tenures 
  • FAQ’s

    1. How much of financing can I get?

      You can get financing of up to Rs.5 crore. However, the financing will also depend on the area of planned construction or purchase. Here’s an area-wise breakdown:

      • Mumbai: Rs.10 crore
      • Other metro cities: Rs.3 crore
      • Urban areas: Rs.3 crore
      • Semi-urban and rural areas: Rs.1 crore

      Note that the final financing limit offered depends on your repayment capabilities and is at the sole discretion of the bank.

    2. Is there any moratorium period?

      Yes, there is. Baroda Home Loan for NRI has a maximum moratorium period of 36 months.

    3. What do I have to pledge as security?

      It’s usually the property constructed or purchased, which you can pledge as collateral. If that’s not working out, the bank may consider insurance policies, shares, gold ornaments, or debentures, to name a few as collateral.

    4. Are there any foreclosure charges?

      No foreclosure charges are levied if you plan to prepay the loan amount.

    5. Can I get life insurance facility with the home loan scheme?

      Yes. Bank of Baroda in collaboration with M/s. India First Life Insurance Co. provides life insurance cover to the borrowers. It’s an optional facility, which you can avail at the time of loan sanction.


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