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  • Bank of Baroda Home Loan Interest Rates

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  • Bank of Baroda home loans come with competitive interest rates, longer tenures and flexible repayment options. Read more for the current home loan interest rates and documentation required to apply for home loan.
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    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
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I have applied for Home loan directly through Bank Of Baroda and got the loan on stipulated time .This loan was upto 15 years and got the loan amount on time ,The agent gave all the required information about the loan process .I have got all the required details about the loan process and there was no drawbacks faced as well.
      Was this review helpful? 2
      , surat
      Reviewed on Sep 29, 2019
    • Bank of Baroda
      Bank of Baroda Home Loan
      "Great Experience"
      0.5 4.5/5 "Excellent!"
      Because the project i have selected which is approved by Bank of Baroda and it was smooth transaction and i just given my documents and i haven't faced any hassles. They have offered me a interest rate of 8.25%. They immediately sanctioned loan and it got credited within 15 days.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Aug 04, 2019
    • Bank of Baroda Home Loan
      "This is a best option for housing loan"
      0.5 4.5/5 "Excellent!"
      14 months before, i have taken my home loan from Bank of Baroda. I have chosen them because they have provided me a best rate of interest available in the market. When i got the loan it was 8.3% which is a floating one. They have sanctioned the loan about 15 days.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 20, 2019
    • Bank of Baroda Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for Bank Of Baroda Home loan directly through Bank .The rate of interest and the processing fee was very less and it is comfortable for me ,I have applied for the loan amount of 13 lakhs for the tenure of 10 years ,I have got the loan amount on time and it was sufficient as well .
      Was this review helpful? 0
      , imphal
      Reviewed on Jul 11, 2019
    • Bank of Baroda Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      I am processing a home loan with Bank of Baroda and they are offering good service. The documents are submitted directly to the bank. The documentation process was more lengthy. I am not satisfied with the customer service but the rate of interest was good. They told me a processing fee of 0.5%. I have requested for a tenure of 20 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 02, 2019
    • Bank of Baroda Home Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I had applied for a home loan and It was with BANK OF BARODA .I was highly impressed. My home loan was approved in few days.Loan amount is satisfactory . They are awesome and they take care of you need very well.The good thing about BANK OF BARODA is their customer service.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 23, 2019
    • Bank of Baroda Home Loan
      "Service should be improved"
      0.5 2.0/5 "Expected more"
      Bank of Baroda taken long time to process my home loan application. But the best thing the interest rate is good. They have fulfilled my need by approving the entire amount , the processing fee was there it was minimal. But I suggest the service needs lots of improvement because they collected documents five times from me it was really disappointed.
      Was this review helpful? 2
      , new delhi
      Reviewed on Jun 08, 2019
    • Bank of Baroda Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken Home Loan through Bank Of Baroda took before 4 months ,the rate of interest and processing fee was good and nominal ,the loam amount was 52lakhs for the tenure of 25years ,the loan amount got on time it was sufficient ,directly applied with bank ,I have submitted documents as well ,so far not faced any issue ,The process was very smooth as well .
      Was this review helpful? 0
      , chennai
      Reviewed on May 14, 2019
    • Bank of Baroda Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I took a home loan with Bank of Baroda in the year of 2012. The interest rate is reasonable and there was no processing fee which was the major benefit. The customer service is helpful and have taken a residential property. The loan duration is 25 years.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 13, 2019
    • Bank of Baroda Home Loan
      "Good Offline support"
      0.5 5.0/5 "Blown Away!"
      The rate of interest is good in Bank of Baroda since its a government bank, the staff are helpful and they assisted to get the loan amount on time. My principal amount is Rs. 51 lakhs for the duration of 25 years, I got floating interest of 8.5% it was affordable.
      Was this review helpful? 1
      , mumbai
      Reviewed on Apr 26, 2019
    • 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? 2
      , 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? 5
      , 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? 3
      , 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? 4
      , 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
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