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  • Bank of Baroda Home Loan Calculator

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  • Updated as per Latest Rates on 19th June 2019

    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). The minimum EMI per lakh you get with Bank of Baroda is Rs.855.

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

    BoB Home Loan EMI Calculator 2019

    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.13,050 Rs.26,099 Rs.52,198 Rs.65,248
    20 years Rs.9,452 Rs.18,905 Rs.37,809 Rs.47,262
    30 years Rs.8,555 Rs.17,110 Rs.34,219 Rs.42,774

    For illustration purpose, let’s assume that you have applied for Bank of Baroda Home Loan at an interest rate of 9.70% 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, we’ve kept the processing fee as 0.5% and selected ‘No’ for pre-payments.

    Home Loan EMI Calculator Formula:

    E = P . r . ( 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 17 Oct 2019 starts from 9.65% 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 17 Oct 2019 is as follows:

    Loan Slab Processing Fee
    Up to Rs.50 lakh 0.50% of the principal loan amount Minimum: Rs.7,500 Maximum: Rs.12,500
    Above Rs.50 lakh 0.25% of the principal loan amount Minimum: Rs.7,500 Maximum: Rs.20,000

    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 10.00% p.a. over a period of 30 years. Let us consider that the processing fee levied on your loan is Rs.10,000. Enter the necessary inputs and click on ‘Calculate’.

    As per the values entered, the EMI calculated on your home loan will be Rs.26,327.

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

    Category Amount
    Loan amount Rs.30,00,000
    Total interest due Rs.64,77,773
    Processing fee Rs.10,000
    Total Amount Payable Rs.94,87,773

    The calculator should also be able to provide you with the a repayment table where your EMI payments over the next 30 years from March 2019 to February 2049 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.)
    2019 Rs.2,49,492 Rs.13,778 Rs.2,63,270 Rs.29,86,221
    2020 Rs.2,97,806 Rs.18,118 Rs.3,15,924 Rs.29,68,104
    2021 Rs.2,95,910 Rs.20,014 Rs.3,15,924 Rs.29,48,089
    2022 Rs.2,93,814 Rs.22,110 Rs.3,15,924 Rs.29,25,979
    2023 Rs.2,91,499 Rs.24,425 Rs.3,15,924 Rs.29,01,554
    2024 Rs.2,88,941 Rs.26,983 Rs.3,15,924 Rs.28,74,571
    2025 Rs.2,86,116 Rs.29,808 Rs.3,15,924 Rs.28,44,762
    2026 Rs.2,82,994 Rs.32,930 Rs.3,15,924 Rs.28,11,832
    2027 Rs.2,79,544 Rs.36,380 Rs.3,15,924 Rs.27,75,454
    2028 Rs.2,75,736 Rs.40,188 Rs.3,15,924 Rs.27,35,266
    2029 Rs.2,71,529 Rs.44,395 Rs.3,15,924 Rs.26,90,871
    2030 Rs.2,66,880 Rs.49,044 Rs.3,15,924 Rs.26,41,826
    2031 Rs.2,61,774 Rs.54,180 Rs.3,15,924 Rs.25,77,646
    2032 Rs.2,56,072 Rs.59,852 Rs.3,15,924 Rs.25,27,793
    2033 Rs.2,49,803 Rs.66,121 Rs.3,15,924 Rs.24,61,672
    2034 Rs.2,42,879 Rs.73,045 Rs.3,15,924 Rs.23,88,628
    2035 Rs.2,35,229 Rs.80,695 Rs.3,15,924 Rs.23,07,935
    2036 Rs.2,26,782 Rs.89,142 Rs.3,15,924 Rs.22,18,792
    2037 Rs.2,17,447 Rs.98,477 Rs.3,15,924 Rs.21,20,315
    2038 Rs.2,07,133 Rs.1,08,791 Rs.3,15,924 Rs.20,11,526
    2039 Rs.1,95,745 Rs.1,20,179 Rs.3,15,924 Rs.18,91,345
    2040 Rs.1,83,159 Rs.1,32,765 Rs.3,15,924 Rs.17,58,580
    2041 Rs.1,69,258 Rs.1,46,666 Rs.3,15,924 Rs.16,11,913
    2042 Rs.1,53,898 Rs.1,62,026 Rs.3,15,924 Rs.14,49,887
    2043 Rs.1,36,933 Rs.1,78,991 Rs.3,15,924 Rs.12,70,896
    2044 Rs.1,18,190 Rs.1,97,734 Rs.3,15,924 Rs.10,73,161
    2045 Rs.97,485 Rs.2,18,439 Rs.3,15,924 Rs.8,54,722
    2046 Rs.74,610 Rs.2,41,314 Rs.3,15,924 Rs.6,13,408
    2047 Rs.49,344 Rs.2,66,580 Rs.3,15,924 Rs.3,46,827
    2048 Rs.21,426 Rs.2,94,498 Rs.3,15,924 Rs.52,330
    2049 Rs.656 Rs.52,330 Rs.52,987 Rs.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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