A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Bank of Baroda Home Loan Advantage

    The Baroda Home Loan Advantage loan is linked to the savings account of Baroda Bank. The interest rate for this loan starts at 6.50% p.a. The maximum repayment tenure is up to 30 years. The processing fee ranges from 0.25% to 0.50% of the loan amount.


    Baroda Home Loan Advantage Interest Rates

    The interest rate for Baroda Home Loan Advantage ranges from 8.00% p.a. to 9.25% p.a. It is dependent on the quantum of loan and the applicant’s risk rating.

    Quantum of Loan Interest Rate
    Up to Rs.75 lakh 6.50% p.a
    Above Rs.75 lakh 6.75% p.a.

    Features and Benefits

    The features and benefits of Baroda Home Loan Advantage are:

    • Rate of interest on the savings account is zero.
    • Borrower can deposit maximum savings in the account to avail maximum interest benefit from the home loan account
    • Credit available at the end of the day in the linked savings account will be accounted as credit in the home loan account
    • Home loan will be linked the savings bank account and EMIs will be recovered from the linked account

    Eligibility Criteria

    The eligibility criteria are as follows:

    Age 21 years
    Employment Type Salaried or Self-employed
    • Resident Indians
    • Non-Resident Indians (NRI)
    • Persons of Indian Origin (PIO)
    • Overseas Citizen of India (OCI)

    Documents Required

    The general documents required are as given below:

    1. Proof of residence and age:
      • Election ID
      • PAN card
      • Driver's license
      • Ration card
    2. Passbook statements of bank account of the last 2 years

    Salaried Individuals: Latest salary slips

    Self-employed individuals:
    • Copies of balance sheet, profit and loss accounts that are certified
    • Advance tax challans for the past 3 years
    • IT acknowledgements
    • Assessment orders of the past 3 years
    • Copies of income tax returns


    1. What purposes can this loan be used for?

      The Baroda Home Loan Advantage loan can be used to buy both a new residential unit or one that is for resale.

    2. Is prepayment of the loan allowed?

      Yes, you can make either full or partial pre-payments to the loan. There are no pre-closure charges.

    3. How much is the maximum amount I can expect as the loan amount?

      The maximum loan amount is up to Rs.10 crore for a single unit which is based on the location of the property. Up to 90% of the property cost can be availed. However, this depends on other factors such as income, age, repayment capacity, etc.

    4. Can co-applicants be added?

      Yes, you can add co-applicants who should be the proposed owners of the property as per the Agreement for Sale. Co-applicants can be your spouse, parent, or child.

    5. Is the rate of interest floating or fixed?

      Fixed rate of interest has been withdrawn so rate of interest is now floating which is on a daily reducing balance at the monthly rests.

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