The Bank of Baroda Home Improvement loan has interest rates that start at 6.50% p.a. The maximum repayment tenure is up to 30 years and maximum loan amount is up to Rs.10 crore, depending on the location. The processing fee ranges from 0.25% to 0.50% of the loan amount.
The interest rate for Bank of Baroda Home Improvement loan ranges from 6.50% p.a. to 8.20% p.a. It is dependent on the applicant's risk rating as well.
The features and benefits of Bank of Baroda Home Improvement loan are:
The eligibility criteria are as follows:
|Employment Type||Salaried or Self-employed|
The general KYC documents required are as given below:
Salaried Individuals: Latest salary statement
The Bank of Baroda Home Improvement loan does not have any pre-closure charges so you can make both full or partial pre-payments to close the loan.
Yes, you can use the loan to buy furniture, furnishings, electronic equipment such as water heaters, air conditioners, refrigerators, air conditioners, etc. You can also use it to pay for the services of your interior decorator, contractor, or architect.
A moratorium period means that you don’t have to pay the EMI during that period, so it is also called an 'EMI holiday'.
The rate of interest is floating and depends on the Marginal Cost of funds-based Lending Rate (MCLR). The CIBIL scores of the applicant and co-applicants also play a role in the interest rate that is offered.
The loan amount depends on the location of the property, repayment capacity, and income of the borrower.
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