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

    Bank of Baroda is an international financial and banking service company headquartered in Gujarat. After merging with several other banks, Bank of Baroda has a robust network across 25 countries. It also offers an array of home loan products that caters to the needs of several borrowers and its motivated and educated employee base also is a blessing to their customers as it provides an impeccable and unforgettable customer service.

    Rates And Charges Specification
    Interest rate 8.30% - 9.35% floating interest
    Processing fee 0.5% - 0.25% of the Loan Amount : Minimum of Rs.7500 up to a maximum of Rs.20,000
    Loan Tenure 30 years
    Pre-closure charges Nil

    A home loan from the Bank of Baroda can be attained with an interest rate of 8.30% - 9.35% with a processing fee that ranged from 0.5% - 0.25% of the loan amount, capped at a minimum of Rs.7500 and a maximum of Rs.20,000. The tenure of the loan can be anywhere from 1 – 30 years with no pre-closing charges.

    Types of Home Loans offered By Bank of Baroda

    • Baroda Home Loan
    • Baroda Home Loan Advantage
    • Baroda Pre – Approved Home Loan
    • Home Improvement Loan
    • Baroda Additional Assured Advance (AAA)
    • Baroda Mortgage Loan
    • Baroda Ashray (Reverse Mortgage Loan)

    Bank of Baroda’s Home Loan Can Availed for the Following:

    • Purchase of a newly constructed house
    • Purchase of an existing house
    • Purchase of a plot
    • Construction of a house
    • Home improvement and extension
    • Transfer of home loan from another bank

    Bank of Baroda Home Loan Rate of Interest Table

    Product Rate of Interest
    Baroda Home Loan & Home Improvement Loan 1 year MCLR up to 1 year MCLR + 1.00%
    Baroda Home Loan Advantage Up to Rs.75 lakh : Normal Home Loan rate Above Rs.75 lakh : 0.25% over Normal Home Loan Rate
    Baroda CRE Home Loan 0.25% over Normal Home Loan Rate
    Baroda CRE Home Loan (Advantage) Up to Rs.75 lakh : 0.25% over Normal Home Loan Rate Above Rs.75 lakh : 0.50% over Normal Home Loan Rate
    Baroda Additional Assured Advance (AAA) One year MCLR + Strategic Premium + 1.50%
    Baroda Mortgage Loan From One year MCLR + Strategy Premium+1.75% To One year MCLR+ Strategic Premium+3.50%
    Baroda Ashray (Reverse Mortgage Loan) One year MCLR + Strategic Premium + 1.75%
    • Bank of Baroda offers various home loan products at affordable rate of interest. The Baroda Home Loan and Home Improvement loan is offered at an interest of 1 year MCLR – 1 year MCLR + 1.00%, depending on the risk rating of the applicant. This rate of interest is also referred to as ‘Normal Home Loan Rate’.
    • The Baroda Home Loan Advantage charges the normal Home Loan rate for loans up to Rs.75 lakh. For loans above Rs.75 lakh, an additional interest of 0.25% will be incurred.
    • The Baroda CRE Home Loan is offered at a rate of interest 0.25% over the Normal Home Loan Rate, while the Baroda CRE Home Loan (Advantage) is offered at an interest rate of 0.25% over the Normal Home Loan Rate for loans up to Rs.75 lakh and 0.50% over the Normal Home Loan Rate for loans above Rs.75 lakh.
    • The Baroda Additional Assured Advance (AAA) will have an interest of a 1 year MCLR + strategy premium set by the bank + 1.50%.
    • The Baroda Mortgage Loan will contain an interest that ranges anywhere from One year MCLR + Strategy Premium + 1.75% to One year MCLR + Strategy Premium + 3.50%.
    • The Baroda Ashray or the reverse mortgage loan comes with an interest of 1 year MCLR + Strategic Premium + 1.75%.

    Bank of Baroda’s (BOB) MCLR Base Rate:

    Benchmark MCLR BOB MCLR Rate
    Overnight MCLR 8.10%
    1-month MCLR 8.15%
    3-months MCLR 8.20%
    6-months MCLR 8.30%
    1-year MCLR 8.35%
    3-year MCLR 8.50%
    5-year MCLR 8.65%

    The MCLRs for Bank of Baroda vary depending on the tenure of the loan. For an overnight tenure, the ROI will be 8.10%. 8.15% for 1 month. And for 3 months, 6 months and a year the rates of interest would be 8.20%, 8.30% and 8.35% respectively. Likewise, the 3 year MCLR and 5 year MCLR are 8.50% and 8.65% respectively.

    Documentation Required for BOB Home Loan:

    • Passport size photographs
    • Proof of identity, residence and age
    • Proof of office/business address
    • Bank statements of the last 6 months
    • Copy of Income Tax Returns of the last 3 years
    • Proof of investments such as insurance, fixed deposits or shares and stocks
    • Payslips of the last 3 months for salaried persons
    • For business owners/self-employed persons: Verified copies of Balance Sheets, Profit and Loss accounts, IT Return, assessment orders, advance tax challans (for both company/firm and personal account) for the last 3 years
    • Copy of documents related to the property to be purchased

    Factors on Which the Bank of Baroda Home Loan Interest Rate Depends:

    • Applicant’s Salary: The higher the income of an applicant, the lower the interest rates are going to be. This is one of the major determinants taken into consideration by the bank before arriving at a rate of interest.
    • Amount of the Loan: Home loan interest rate is also affected by the amount of loan taken. They have a direct relation to each other. The higher the loan amount, the higher the rate of interest.

    Tips to Reduce Bank of Baroda Home Loan Interest Rate

    • Shorter Tenure: The tenure of the loan plays an important part in determining the rate of interest. Going for a shorter loan tenure will lower the total interest paid. However, it should be noted that the EMIs paid will be higher.
    • Increase EMIs: Increasing the amount of EMI paid will not only reduce the overall interest paid, but will also enable you to pay off the loan faster.

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    BOB Home Loan Interest Rates Reviews

    • Bank of Baroda Home Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have taken the housing loan with the BANK OF BARODA and i would like to give them more than 5 star rating because the the service is very good with this bank. They have given the loan amount which is satisfactory and the rate of interest was 8.7% with this loan.
      Was this review helpful? 1
      , new delhi
      Reviewed on Mar 09, 2019
    • Bank of Baroda Home Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      Bank of Baroda branch is located near to my place, hence I done home loan balance transfer from HDFC to this bank. For the remaining out standing of Rs.18.60 lakhs from 20 lakhs. The paper work was smooth for the balance transfer, my home loan transfered within 33 days. I am not fully satisfied with all parameters because I am not aware of the complete benefits.
      Was this review helpful? 1
      , kolkata
      Reviewed on Feb 18, 2019
    • Bank of Baroda Home Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I took a home loan with Bank of Baroda and it has been cleared. The rate of interest was reasonable. I took this loan before 10 years. I think have done a foreclosure with 1% or 2% which I don't remember now. I have purchased a residential property.
      Was this review helpful? 4
      , mumbai
      Reviewed on Feb 07, 2019
    • Bank of Baroda Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I had taken a Home loan with Bank of Baroda and the time when i submitted application for home loan, they have considered my application and also they processed my application on time . There was no hurdle and it was a easy go. Overall it is average service with bank of Baroda.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 26, 2019
    • Bank of Baroda Home Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan with Bank of Baroda and my experience was good, the loan amount was sufficient and the rate of interest was nominal when compared to other banks. Customer service was good and they responded on time. Tenure period for this loan is 27 years.
      Was this review helpful? 1
      , bhubaneshwar
      Reviewed on Jan 21, 2019
    • Bank of Baroda Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The experience i had with this loan has been quite good where the process was very simple and smooth. The loan amount which they had provided has been sufficient and the interest rate which they offered me was very less when compared with the market rate. The charges which they had made has been nominal as well.
      Was this review helpful? 3
      , navi mumbai
      Reviewed on Jan 18, 2019
    • Bank of Baroda Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I had taken a Home loan with Bank of Baroda and the time when i submitted application for home loan, they have considered my application and also they processed my application on time . There was no hurdle and it was a easy go. The interest rates i have on my loan is 9.45%.
      Was this review helpful? 2
      , mumbai
      Reviewed on Jan 13, 2019
    • Bank of Baroda Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The experience with this Home loan has been quite good and the loan amount which they had provided has been satisfactory as well. The interest rate with them has been nominal when compared with the market rate and the processing fee has been not too high. There has not been any sort of charges which they had made so far.
      Was this review helpful? 3
      , ahmedabad
      Reviewed on Dec 20, 2018
    • Bank of Baroda Home Loan
      "AVERAGE"
      0.5 3.0/5 "Satisfactory"
      The interest rate is very higher with this loan. The core banking is higher rate of interest but the duration is for 15 years ti repay the and i have closed the loan. Pre closer i have done with applicable charges with 1%. The process is not quick to get the loan.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 01, 2018
    • Bank of Baroda Home Loan
      "Good Experience"
      0.5 4.5/5 "Excellent!"
      My home loan with Bank of Baroda, since 1994 I have experience with them hence they gave me flexible interest. They have disbursed the amount of Rs. 4.5 lakhs for the total tenure period of 15 years. On 2009 I have closed my loan and I got my noc letter.
      Was this review helpful? 2
      , nasik
      Reviewed on Nov 12, 2018
    • Bank of Baroda Home Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      I have taken the housing loan from the BANK OF BARODA before 3 months. The documentation process is simple and easy. The loan amount is sufficient and also the rate of interest is higher also it is a floating. The duration to repay is for 5 years.
      Was this review helpful? 0
      , kota
      Reviewed on Nov 04, 2018
    • Bank of Baroda Home Loan
      "Worst Experience"
      0.5 3.0/5 "Satisfactory"
      When i was in a process of applying Home Loan,It took a long time as they have not given me a first preference though I am a Govt employee. They made easier for IT professional people but for me they dragged things. There use to be big fine charges if the date gets miss.My phone number was shared to other sources and that was annoying.
      Was this review helpful? 2
      , bangalore
      Reviewed on Oct 11, 2018
    • Bank of Baroda Home Loan
      "Bank of Baroda"
      0.5 5.0/5 "Blown Away!"
      My housing Loan process very smooth dealing ,interest rate super, ppm branch manager+all staff support ,my loan offer OK, ppm other Bank it my Baroda very good so port so very happy thanks my rate 5.00 ,my friends and reliance and I am very much happy with them.
      Was this review helpful? 3
      , pallipalayam
      Reviewed on Sep 02, 2018
    • Bank of Baroda Home Loan
      "Can work on charges"
      0.5 5.0/5 "Blown Away!"
      My home loan is with Bank of Baroda. The process to get the loan was smooth and easy and there were no hassles in the documentation. The rate of interest is normal, the only drawback is if there is a delay in EMI payment for one day there are charges taken.
      Was this review helpful? 2
      , mumbai
      Reviewed on Aug 30, 2018
    • Bank of Baroda Home Loan
      "Good"
      0.5 3.5/5 "Pretty good"
      My home loan was taken with BANK OF BARODA 20 years back. The loan amount was 20 lakhs and the interest rate was average . The tenure period was 10 years . The customer service and responses was good. The executives were every helpful and the processing fee was nominal.
      Was this review helpful? 2
      , new delhi
      Reviewed on Jul 25, 2018
    • Bank of Baroda Home Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      My home loan experience with Bank of Baroda was good, the loan amount was for Rs 25 lakhs with nominal interest rate when compared to other banks. Customer service was good and they collected documents on time. The tenure period for this loan is for 15 years.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Jun 11, 2018
    • Bank of Baroda Home Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan with Bank of Baroda and my loan experience was very good. The loan amount was for Rs 17 lakhs with rate of interest of 8.35% which is nominal when compared to other banks. Customer service was good and they responded on time. The tenure period of this loan is 15 years.
      Was this review helpful? 1
      , mumbai
      Reviewed on Mar 26, 2018
    • Bank of Baroda Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken Home loan with Bank of Baroda,the loan amount is 13 lakhs,The tenure is 20years,i paid my EMI 9800 paid by cheque.They collected documents door step and had disbursed the loan within a day.I have no processing fees for the same.
      Was this review helpful? 0
      , kanpur
      Reviewed on Feb 14, 2018
    • Bank of Baroda Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I got the home loan from the BANK OF BARODA around a year ago. The customer support service is good with the BANK OF BARODA . They have offered me a home loan based on my salaried account. They had disbursed the loan amount within a day time. The rate of interest and the charges are average with the BANK OF BARODA.
      Was this review helpful? 0
      , bhimavaram
      Reviewed on Feb 12, 2018
    • Bank of Baroda Home Loan
      "Average banking service"
      0.5 3.0/5 "Satisfactory"
      The response part need to be improved with the BANK OF BARODA branch staffs. They need to give immediate response to the customers. I have got the home loan from BANK OF BARODA around a year ago. The rate of interest and the charges are average with BANK OF BARODA when compared with other banks.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 30, 2018
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