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  • Bank of Baroda Home Loan Takeover Scheme

    Bank of Baroda's Home Loan Takeover scheme allows you to transfer your existing home loans to Bank of Baroda at lower interest rates and without any income documents required if you have already paid more than 12 EMIs towards the home loan of any other bank or NBFC.


    Baroda Home Loan Takeover Scheme Interest Rates

    The interest rate for Baroda Home Loan Takeover Scheme is dependent on the CIBIL Score of the applicant and is based on the one-year Marginal Cost of funds-based Lending Rate (MCLR) + the risk premium.

    Features and Benefits

    The features and benefits of Baroda Home Loan Takeover Scheme are:

    • For the takeover of home loans from other banks, Non-Banking Financial Companies, or other financial institutions
    • Free credit card is offered along with the home loan
    • Concession of 0.25% interest for car loans is offered from Bank of Baroda
    • Free accident insurance cover with every home loan
    • Can apply for a top-up home loan up to 5 times during the loan tenure

    Eligibility Criteria

    The eligibility criteria are as follows:

    Age 21 years for applicant
    18 years for co-applicant
    Employment Type Salaried or Self-employed
    • Resident Indians
    • Non-Resident Indians (NRI)
    • Persons of Indian Origin (PIO)
    • Overseas Citizen of India (OCI)

    Documents Required

    The general KYC documents required are as given below:

    1. Proof of age and residence:
      • PAN card
      • Ration card 
      • Election ID
      • Driver’s license
    2. Bank passbook statements of the last 2 years

    Self-employed individuals:

    • Advance tax challans for the past 3 years 
    • IT acknowledgements 
    • Copies of balance sheet, profit and loss accounts that are certified
    • Copies of income tax returns
    • Assessment orders of the past 3 years

    Salaried Individuals: Latest salary slip or salary statement 


    1. What is the maximum repayment tenure?

      The maximum repayment tenure is up to 30 years but is also dependent on the amount of loan taken and the borrower’s income.

    2. Is there a moratorium period?

      Yes, there is a moratorium period of up to 36 months after disbursal of the loan during which you do not need to pay the EMI. This period is, however, included in the maximum repayment period.

    3. What purposes can this loan be used for?

      The Baroda Home Loan Takeover Scheme can be used to take over home loans from other lenders that have been used to buy a residential property such as a flat or house. It can also be used to reimburse the cost of a plot of non-agricultural land (for building a residential unit) that has been bought within 24 months prior to applying for the takeover loan.

    4. What is the maximum age that is considered for the loan?

      The maximum age that can be considered for the takeover loan, subject to certain conditions, is up to 70 years.

    5. What is the maximum loan amount?

      The maximum loan amount is up to Rs.10 crore in Mumbai, up to Rs.5 crore in other metros, up to Rs.3 crore in urban areas, and up to Rs.1 crore in rural and semi-urban areas.

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