Bank of Baroda Home Suvidha Personal Loans
The Bank of Baroda Home Suvidha Personal Loans finances the miscellaneous costs associated with home loans. The rate of interest starts at 7.25% p.a.
Bank of Baroda Home Suvidha Personal Loans Interest Rates
The interest rate for Bank of Baroda Home Suvidha Personal Loans ranges from 7.25% p.a. It is dependent on the interest spread of the linked home loan as well as the applicant's risk premium.
Type of Loan | Interest Rate |
Linked with Bureau Score Home Loan | 7.25% p.a. onwards (as per applicant's risk rating) |
Features and Benefits
The features and benefits of Bank of Baroda Home Suvidha Personal Loans are:
- Used to finance miscellaneous costs associated with home loans such as stamp duty, registration tax, insurance premium, Goods and Services Tax (GST), and other fees.
- Reimbursement is within one year from date of payment of the fee.
- 100% finance is provided for finances related to Group Credit Life Insurance Premium by specific companies or those with a tie-up with Bank of Baroda.
- 75% finance is provided for expenses related to registration and stamp duty charges, club membership charges (for houses only), and GST (if applicable).
Eligibility Criteria
The eligibility criteria are as follows:
Age | 21 years |
Employment Type | Salaried or Self-employed |
Nationality |
|
Documents Required
The general documents required are as given below:
- Proof of residence and age:
- Election ID
- PAN card
- Driver's license
- Ration card
- Passbook statements of bank account of the last 2 years
Salaried Individuals: Latest salary slips for salaried individuals
Self-employed individuals:
- Copies of balance sheet, profit and loss accounts that are certified
- Advance tax challans for the past 3 years
- IT acknowledgements
- Assessment orders of the past 3 years
- Copies of income tax returns
FAQs on Bank of Baroda Home Suvidha Personal Loans
- What is the repayment tenure of this loan?
The repayment tenure is the same as for the home loan that is sanctioned for new borrowers.
- Can existing home loan borrowers also avail this loan?
Yes, existing home loan borrowers can also avail this loan for which the repayment tenure will be the remaining period of the existing home loan.
- What are the processing charges?
The processing charges are nil; however, notary and stamp paper charges should be borne by the applicant.
- What kind of insurance product premiums are financed under this?
The premiums which are financed under this are for the Group Credit Life Insurance, Group Credit Health Insurance, and Property Insurance.
- Can I apply for this if I have a home loan from other banks?
This is only for home loan borrowers from Bank of Baroda, both prospective and existing borrowers.
Disclaimer
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