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A "low interest" loan shouldn't mean you have very little interest in paying it back!
Bank of Baroda home loan eligibility is based on criteria ranging from the age of the applicant to their salary and credit score. The bank offers a wide variety of home loan schemes that cater to different requirements with attractive interest rates. There is a maximum repayment tenure of 30 years with a moratorium period of up to 3 years.
The home loan eligibility criteria for Bank of Baroda are as given below:
| Age | 21 to 70 years |
| Employment Type | Salaried individuals Non-salaried business people or professionals |
| Work Experience for Salaried | Minimum period of 1 year |
| Work Experience for Non-Salaried | Minimum period of 2 years |
| Loan-to-Value (LTV) Ratio | 75% to 90% |
Bank of Baroda’s home loan eligibility depends on a number of factors such as the age of the applicant, salary, and credit score. The home loan interest rates are linked to the Baroda Repo Linked Lending Rate (BRLLR) and varies with the Credit Score of the applicant. Any change in the BRLLR will reflect in the interest of the home loans which are floating interest.
The Bank of Baroda home loan eligibility calculator given below shows you the loan amount that you are eligible for based on the monthly income with a repayment tenure of 30 years with an interest rate of 6.85% p.a. (which is the starting interest rate for Bank of Baroda’s home loans).
| Monthly Income | Loan Amount |
| Rs. 25,000 | Rs.15,26,114 |
| Rs. 30,000 | Rs.20,60,253 |
| Rs. 35,000 | Rs.24,03,629 |
| Rs. 45,000 | Rs.30,90,380 |
| Rs. 50,000 | Rs.34,33,756 |
| Rs. 55,000 | Rs.41,96,812 |
| Rs. 60,000 | Rs.45,78,341 |
| Rs. 65,000 | Rs.49,59,869 |
| Rs. 70,000 | Rs.53,41,398 |
| Rs. 75,000 | Rs.57,22,926 |
Bank of Baroda’s home loan repayment tenure goes up to 30 years. The earlier you take a home loan, the longer your repayment tenure will be. Given below is the maximum eligible tenure according to different ages.
| Applicant’s Age | Maximum Eligible Tenure |
| 21 years to 30 years | 30 years |
| 31 years | 29 years |
| 32 years | 28 years |
| 33 years | 27 years |
| 34 years | 26 years |
| 35 years | 25 years |
| 36 years | 24 years |
| 37 years | 23 years |
| 38 years | 22 years |
| 39 years | 21 years |
| 40 years | 20 years |
| 41 years | 19 years |
| 42 years | 18 years |
| 43 years | 17 years |
| 44 years | 16 years |
| 45 years | 15 years |
The Loan to Value (LTV) ratio is the quantum of loan that is disbursed based on the value of the property that you intend to purchase. The LTV ratio for different loan amounts is as given below:
| Loan Amount | LTV Ratio |
| Up to Rs.30 lakh | 90% |
| Between Rs.30 lakh to Rs.75 lakh | 80% |
| Loans above Rs.75 lakh | 75% |
Your home loan eligibility is dependent on your credit score. The higher your credit score, the lower your interest rate and vice versa. Here are the ratings for different credit scores:
| Rating | Credit Score |
| Good | 750 and above |
| Average | 600 - 750 |
| Poor | Below 600 |
Bank of Baroda Home loan Eligibility for Women
The eligibility criteria for women are the same as for other applicants.
Bank of Baroda Home loan Eligibility for Co-Applicant
Bank of Baroda accepts co-applicants if they are the applicant’s spouse, adult child, or parent.
Bank of Baroda home loan eligibility is determined by the factors given below:
To use the Bank of Baroda home loan eligibility calculator, you would need to fill in details such as your age, location, monthly income, other Equated Monthly Instalments (EMIs) you are currently paying, preferred loan tenure, etc.
You can easily check if you are eligible for a Bank of Baroda home loan by using the free online home loan eligibility calculator.
Bank of Baroda decides your home loan eligibility based on your age, income or salary, credit score, repayment capacity, financial assets and liabilities, etc.
You can increase your chances of being eligible for a Bank of Baroda home loan by adding a co- applicant who has a good source of income and credit score and fits all other eligibility criteria. You can also increase your eligibility by improving your credit score.
Yes, Non Resident Indians (NRIs) are eligible for Bank of Baroda home loans.
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