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  • Bank of Baroda Home Improvement Loan

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  • Bank of Baroda provides a specific loan that can help individuals get financing for making additions or renovations to their residence or to residential properties owned by close relatives. This loan features low interest rates and fast approval times.

    Eligibility criteria

    The eligibility criteria to be met in order for the institution to be able to sanction the loan include the following entities -

    1. Individuals living alone or with family owning a residence under their name or jointly
    2. Individuals having a stable source of income for the last 3 years
    3. Age limits fall within a minimum of 21 years and a maximum of 65 years (or retirement age, whichever is lesser)
    4. The house for which the loan is being availed should not be more than 35 years old.

    Types of Financing under Bank of Baroda Home Improvement Loan

    The financing modes allowed under the home improvement loan is a term loan.

    Maximum loan amount

    Based on the credit-worthiness of the applicant:

    • Bank of Baroda can provide loans that are 2 times the gross annual income of the applicant (salaried) or 3 times the net annual income (other than salaried).
    • The total monthly deductions with all EMIs should not exceed 60% of monthly income.
    • The repayment duration can be of a maximum of 10 years.


    The standard list of required documents for applying for this loan are mentioned as follows –

    1. Application form
    2. Passport Size Photographs
    3. Identity proof
    4. Residence proof or Address Proof
    5. Other KYC relevant documents


    The Home Improvement Loan from Bank of Baroda is an unsecured loan that requires no guarantors or collaterals and is a really good financing option for individuals to meet any kind financing related to refurbishing their residence.

    The loan period can be of 120 months and the loan processing time is very less when compared to other business or personal loans. The loan process involves minimal documentation.

    Applying for Bank of Baroda Home Improvement Loan

    Through Bank of Baroda’s website the forms can be downloaded, filled and submitted along with relevant documents at a local branch. Additionally, one could call or mail Bank of Baroda requesting an executive assistance for application process.

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