A "low interest" loan shouldn't mean you have very little interest in paying it back!
• # Bank of Baroda Home Loan Calculator

The Bank of Baroda Home Loan EMI Calculator lets you calculate your monthly repayments in an easy and a hassle-free manner. All you need to do is enter all the details of your loan, including the loan amount, interest rate, tenure, and processing fee (if applicable). TheÂ minimumÂ EMI per lakh you get with Bank of Baroda is Rs.682Â with an interest rate starting at 7.25%.

Bank of Baroda COVID-19 Home Loan EMI Moratorium

In adherence with RBI's COVID-19 regulatory measures, Bank of Baroda is currently offering up to 3 months of moratorium to its existing home loan customers. So, if you are an existing customer with the bank, you can defer your home loan EMIs for up to 3 months. However, note that the interest accrued during the deferred period will be charged later and due to compounding interest, you may end up paying more later on.

You can do your EMI calculations with the help of a home loan EMI calculator to check how much you have to pay after the moratorium period is over. You also have the option to opt out of this facility and continue paying your EMIs as before.

To use the calculator, you need to know the Bank of Baroda Home loan interest rates, loan amount, and tenure. Enter the values and youâ€™ll get a full break-up of your monthly repaymentsÂ and your repayment schedule. The entire process is simple and hassle-free with a quick turnaround time.

## Calculate Your Bank of Baroda Home Loan Monthly Repayment

The table below gives you an idea of the EMIs for various tenures and loan amounts:

 Amount→Tenure↓ Rs.10 Lakh Rs.20 Lakh Rs.40 Lakh Rs.50 Lakh 10 years Rs.11,740 Rs.23,480 Rs.46,960 Rs.58,701 20 years Rs.7,904 Rs.15,808 Rs.31,615 Rs.39,519 30 years Rs.6,822 Rs.13,644 Rs.27,287 Rs.34,109

For illustration purpose, letâ€™s assume that you have applied for Bank of Baroda Home Loan at an interest rate of 7.25% p.a. For loan amount of Rs.10 lakh, Rs.20 lakh, Rs.40 lakh, or Rs.1 crore, you can find the EMIs, processing fee and total interest payable on various tenures by using the BankBazaar Home Loan EMI Calculator. In the above example, weâ€™ve kept the processing fee as 0.50% of the loan amount and selected â€˜Noâ€™ for pre-payments.

Home Loan EMI Calculator Formula: EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Where,
n: Number of monthly instalments
r: The rate of interest applicable on your home loan
P: Principal amount

Bank of Baroda Home Loan Interest Rates: The rate of interest associated with Bank of Baroda home loans as of 07 Aug 2020 starts from 7.25% p.a. Based on the risk rating of the applicant the bank can choose to revise the rate of interest on your home loan.

Bank of Baroda Home Loan Processing Fees: The processing fee associated with Bank of Baroda home loans as of 07 Aug 2020 is as follows:

 Loan Slab Processing Fee Up to Rs.50 lakh 0.50% of the principal loan amount Minimum: Rs.8,500 Maximum: Rs.15,000 Above Rs.50 lakh 0.25% of the principal loan amount Minimum: Rs.8,500 Maximum: Rs.25,000

The above processing fees are exclusive of taxes and any applicable surcharges on the fee will be added later by the bank during the time of payment.

Bank of Baroda Home Loan Amount and Tenure: The maximum home loan amount one can avail from the Bank of Baroda depends on the location and monthly income of the home loan applicant. The maximum loan amount an applicant can avail in metro cities could range from Rs.5 crore to Rs.10 crore while the applicants in rural and semi-urban areas are restricted to Rs. 1 crore.

Similarly, the tenure on the home loan can be extended up to 30 years based on the loan amount and the income of the applicant.

Example of Bank of Baroda Home Loan EMI: Let us assume that you are looking to avail a housing loan of Rs.30 lakh from Bank of Baroda at an interest rate of 7.25% p.a. over a period of 30 years. Let us consider that the processing fee levied on your loan is Rs.15,000. Enter the necessary inputs and click on â€˜Calculateâ€™.

As per the values entered, the EMI calculated on your home loan will be Rs.20,465.

The break-up of the total amount payable will be as follows:

 Category Amount Loan amount Rs.Rs.30,00,000 Total interest due Rs.43,67,504 Processing fee Rs.15,000 Total Amount Payable Rs.73,82,504

The calculator should also be able to provide you with the a repayment table where your EMI payments over the next 30 years from April 2020 to March 2050 will be illustrated on a monthly basis.

 Year Principal Paid - A (Rs.) Interest Paid - B (Rs.) Total Payment - A+B (Rs.) Outstanding Loan Balance (Rs.) 2020 21,578 1,62,608 1,84,186 29,78,421 2021 30,655 2,14,931 2,45,586 29,47,768 2022 32,952 2,12,631 2,45,583 29,14,817 2023 35,422 2,10,161 2,45,583 28,79,396 2024 38,075 2,07,507 2,45,582 28,41,320 2025 40,930 2,04,651 2,45,581 28,00,390 2026 43,998 2,01,586 2,45,584 27,56,392 2027 47,295 1,98,288 2,45,583 27,09,096 2028 50,842 1,94,743 2,45,585 26,58,255 2029 54,651 1,90,933 2,45,584 26,03,602 2030 58,750 1,86,834 2,45,584 25,44,853 2031 63,152 1,82,430 2,45,582 24,81,701 2032 67,886 1,77,697 2,45,583 24,13,814 2033 72,974 1,72,608 2,45,582 23,40,839 2034 78,445 1,67,136 2,45,581 22,62,393 2035 84,325 1,61,259 2,45,584 21,78,068 2036 90,647 1,54,938 2,45,585 20,87,422 2037 97,441 1,48,142 2,45,583 19,89,981 2038 1,04,744 1,40,838 2,45,582 18,85,236 2039 1,12,596 1,32,986 2,45,582 17,72,639 2040 1,21,037 1,24,547 2,45,584 16,51,603 2041 1,30,109 1,15,473 2,45,582 15,21,493 2042 1,39,862 1,05,720 2,45,582 13,81,631 2043 1,50,345 95,235 2,45,580 12,31,285 2044 1,61,616 83,967 2,45,583 10,69,670 2045 1,73,730 71,853 2,45,583 8,95,940 2046 1,86,752 58,831 2,45,583 7,09,187 2047 2,00,750 44,833 2,45,583 5,08,436 2048 2,15,799 29,786 2,45,585 2,92,637 2049 2,31,973 13,607 2,45,580 60,662 2050 60,662 735 61,397 0

### Bank of Baroda Home Loan EMI Calculator FAQs

1. What is the purpose of a Home Loan EMI Calculator?
2. The Home Loan EMI Calculator is a simple tool that helps you get an idea of how much your Equated Monthly Instalments (EMIs) can be by taking various components such as the principal amount, tenure of your home and interest rate into account.

Yes, you can make prepayments on your loan during the tenure. This will allow you to bring down the outstanding principal which you can either choose to reduce the tenure of your loan or lower the rate of interest, resulting in reduced EMIs.

3. What are the tax benefits on Home Loan EMIs?
4. Under Section 80 C of the IT Act, taxpayers are eligible to avail tax benefits up to Rs.1.50 lakh on the principal repayment of your home loan. In the same line, you can claim tax deductions up to Rs.2 lakh on interest component of your home loan under Section 24 B of the Income Tax Act.

5. How is Pre-EMI different from EMI?
6. Home loan lenders do not disburse the entire loan amount in one payment. Your home loan will be disbursed as instalments taking the progress of your project into account. Pre-EMI is the interest paid only on the partially disbursed home loan. EMI, on the other hand, starts only after the entire loan amount has been disbursed.

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