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  • Bank of Baroda Pre Approved Home Loan

    Borrowers can apply for Bank of Baroda Pre-Approved Home Loan to get the funds they need to buy the house of their dreams without having to provide any details regarding the property in question.

    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

    Interest rates offered by Bank of Baroda on home loans It ranges between 8.70% p.a. and 9.70% p.a.

    *Rates of interest ranging from 1-year MCLR p.a. to 1-year MCLR+1.00% p.a.

    Other Fees & Charges of Bank of Baroda Pre-Approved Home Loan

    The charges that are applicable under this loan are as follows:

    Other Charges
    • Documentation charges
    • Processing Charges
    • Pre-sanction Inspection (Contact Point Verification or CPV) charges
    • Document verification or vetting charges
    • Valuer charges for valuation
    • One-time, post-inspection charges
    • Bureau report charges
    • CERSAI charges
    • Advocate charges for legal opinion
    • ITR verification charges
    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.

    Eligibility Criteria under Bank of Baroda Pre-Approved Home Loans

    • The minimum age of the applicant can be 21 years while that of the co-applicant should be 18 years
    • The maximum age for application under this scheme is 70 years
    • This loan is available for resident Indians
    • Non-resident Indians (NRIs) who hold an Indian passport, Overseas Citizens of India (OCIs), or Persons of Indian origin (PIOs) who hold a foreign passport are also eligible for this loan
    • The staff members of the bank avail this loan under Public scheme
    • Single or joint applicants can apply for this loan
    • Salaried employees should have a minimum work experience of 1 year, and non-salaried individuals should be engaged in their current business or profession for at least 2 years

    Please note that Hindu Undivided Families (HUFs) are not eligible to apply for a Bank of Baroda Pre-Approved Home Loan.

    Documents Required to Apply for a Pre-Approved Home Loan by Bank of Baroda

    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.

    Key Highlights about Bank of Baroda Pre-Approved Home Loan

    • Loan approval without identification of property - In case you are applying for a pre-approved home loan, you can benefit from the fact that Bank of Baroda offers in-principle approval under the scheme before carrying out the identification process of the house, plot, or flat in question.
    • Low processing fee - Bank of Baroda charges a small, one-time processing fee at the time of application. However, you should bear in mind that this amount is non-refundable.
    • Reasonable rates of interest - You can fulfil your dream of owning your dream house by applying for a Bank of Baroda Pre-Approved Home Loan. These loans are available at a low interest rate which are calculated based on the credit history of the borrower.
    • Flexible repayment tenure - Customers opting for this loan will be able to choose a repayment tenure of up to 30 years as per their convenience, situation, and repayment capacity.

    Benefits of Applying for a Pre-Approved Home Loan from Bank of Baroda

    • The eligible amount under this loan is assured.
    • These types of loans provide customers the opportunity to negotiate with the builder or the seller.
    • The in-principle approval received under this plan is valid for a maximum of 4 months starting from the date of issue.


    1. Is there a moratorium period available under Bank of Baroda Pre-Approved Home Loan?

      Yes, Bank of Baroda offers a maximum moratorium period of 36 months to customers who opt for a pre-approved home loan from the bank.

    2. Do I need to provide any security in order to avail a Bank of Baroda Pre-Approved Home Loan?

      Under this loan, you will have to mortgage the property that is being constructed or purchased. In case it is not possible to mortgage the property, you can provide security in any other form such as government promissory notes, insurance policies, gold ornaments, shares and debentures, and others.


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