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.
We found 1 Bank Of Baroda Home Loan
Balance Transfer
Bank Of Baroda Home Loan
Loan Amount
:₹1L -₹2Cr
Floating
:8.60%
Tenure
:1 - 30 Years
Processing Fee
:0.25% - 0.50%
See Less
Documents
- KYC-PAN, address & ID proof
- Income proof, bank statement and one photograph
What you'll love
- No guarantor required
- No pre-closure and part payment fee
Perks
Balance Transfer
Top-up Loan Available
Part-Payment Available
No Guarantor Required
Door Step Service
E-Approval
Think about
- Application available only in branch
- This Company is not a partner. Visit its website/branch office for more details. Trademarks, logos and other intellectual property belong to their respective owners.
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
FAQs on Bank of Baroda Home Loan Eligibility
- 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.
- 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.
- 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.
- 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.
- 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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