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

    The Bank of Baroda Pre-Approved Home Loan offers an interest rate that starts at 8.00% p.a. with processing charges of Rs.7,500 plus service tax for a maximum tenure of 30 years.

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    Bank of Baroda Pre-Approved Home Loan Interest Rates

    The interest rate for Bank of Baroda Pre-Approved Home Loan is the same as that of the regular home loan that starts at 8.00% p.a.

    Features and Benefits

    The features and benefits of Bank of Baroda Pre-Approved Home Loan are:

    • You are assured of your eligible loan amount
    • The in-principle approval is valid for 4 months from the date that it is issued.
    • If property documents are submitted within 4 months of the date of issuance of in-principle approval, only the balance amount of the processing fee will be recovered when the actual loan is sanctioned.

    Eligibility Criteria

    The eligibility criteria are as follows:

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

    Documents Required 

    Some of the KYC documents required are as given below:

    1. Proof of residence and age:
      • PAN card
      • Election ID
      • Ration card 
      • Driver's license
    2. Passbook statements of bank account of the last 2 years

    Salaried Individuals: Latest salary slips for salaried individuals

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

    The Bank of Baroda Pre-Approved Home Loan gives you the advantage of getting in-principle approval of a home loan amount even before you have identified a suitable property, thus providing greater flexibility when it comes to negotiations with sellers or builders.

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