A "low interest" loan shouldn't mean you have very little interest in paying it back!
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:
| Age | 21 years |
| Employment Type | Salaried or Self-employed |
| Nationality |
|
The general documents required are as given below:
Salaried Individuals: Latest salary slips
Self-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Fixed rate of interest has been withdrawn so rate of interest is now floating which is on a daily reducing balance at the monthly rests.
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.
