The interest rates of this loan are very low and are calculated using the ongoing MCLR, borrowers can benefit from a loan repayment tenure of up to 30 years.
|Interest rates offered by Bank of Baroda on home loans||It ranges between 8.70% p.a. and 9.70% p.a. as on 13 May 2019.|
*Rates of interest ranging from 1-year MCLR p.a. to 1-year MCLR+1.00% p.a.
The charges that are applicable under this loan are as follows:
|Preclosure Charges||Bank of Baroda doesn’t levy any pre-closure fees from its customers who have availed a Bank of Baroda Pre-Approved Home Loan.|
|Pre-approved Loan Amount||maximum of Rs.1 crore in semi-urban and rural areas and Rs.10 crore in metro regions.|
1. When you are applying for a pre-approved home loan from Bank of Baroda, you will have to pay an upfront, non-refundable fee worth Rs.7,500 plus service tax
2. The rest of the remaining amount of unified processing charges that is applicable to this loan must be paid once the loan amount has been sanctioned.
Please note that Hindu Undivided Families (HUFs) are not eligible to apply for a Bank of Baroda Pre-Approved Home Loan.
When you are applying for this loan, you will be required to provide documents that highlight your income and repayment capacity in order to receive your Pre-Approved Sanction letter.
While you need not submit any property documents before the letter is issued, you will have to submit the papers within the validity period of the loan, which is 4 months from the date of issue.
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.