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  • BOB Home Loan Eligibility

    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.

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    We found 1 BOB Home Loan Eligibility
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    PA PL OTP
    6.85% - 7.85% Floating
    0.25% - 0.50% One time fee
    Rs.1L - Rs.2Crs
    1 - 30 Years
    What you'll love
    Documents
    Perks
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    Bank of Baroda Home Loan Eligibility Criteria

    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 Home Loan Eligibility Based on Salary

    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 Home loan Eligibility Based on Age

    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

    BOB Home Loan Eligibility Based on Value of Property

    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%

    Bank of Baroda Home Loan Eligibility Based on Credit Score

    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.

    Factors Affecting Bank of Baroda Home Loan Eligibility

    Bank of Baroda home loan eligibility is determined by the factors given below:

    • Applicant’s age
    • Applicant’s credit score
    • Applicant’s salary or income source
    • Indian citizenship status
    • Repayment capacity
    • Financial liabilities such as existing EMIs

    Bank of Baroda Home Loan Eligibility FAQ

    1. What information is required to use a home loan eligibility calculator?

      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.

    2. How to check Bank of Baroda home loan eligibility?

      You can easily check if you are eligible for a Bank of Baroda home loan by using the free online home loan eligibility calculator.

    3. How does Bank of Baroda decide my home loan eligibility?

      Bank of Baroda decides your home loan eligibility based on your age, income or salary, credit score, repayment capacity, financial assets and liabilities, etc.

    4. How can I increase my chances of being eligible for Bank of Baroda’s home loan?

      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.

    5. Are NRIs eligible for Bank of Baroda home loans?

      Yes, Non Resident Indians (NRIs) are eligible for Bank of Baroda home loans.

      

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