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.
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.|
The features and benefits of Baroda Home Loan Advantage are:
The eligibility criteria are as follows:
|Employment Type||Salaried or Self-employed|
The general documents required are as given below:
Salaried Individuals: Latest salary slipsSelf-employed individuals:
The Baroda Home Loan Advantage loan can be used to buy both a new residential unit or one that is for resale.
Yes, you can make either full or partial pre-payments to the loan. There are no pre-closure charges.
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.
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.
Fixed rate of interest has been withdrawn so rate of interest is now floating which is on a daily reducing balance at the monthly rests.
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