Bank of Baroda Mortgage Loan

1. Income proof - This can be Form 16 and a salary certificate from an employer.
2. Income Tax returns - IT returns for the last 3 years should be submitted.
3. Original property papers - A borrower should submit the original property documents of the property he/she intends to mortgage
4. Society permission - If the property in question is part of a society, a borrower should provide a non-encumbrance and permission letter from the society.
5. Bank details - A borrower should provide his/her bank statements of the last 6 months.

Features and Benefits of BOB Mortgage Loan

1. Simple - Obtaining this loan is simple and hassle free, with easy documentation.
2. Flexible - Borrowers have flexibility in terms of withdrawing money which was deposited earlier. Money can be availed either as an overdraft or in the form of a demand loan, depending on individual needs.
3. Property utilisation - Idle or unused properties can be used to generate an additional source of income through this loan.
4. Competitive interest rates - Interest rates charged on this loan are extremely competitive and attractive compared to other competitors.
5. High loan amount - Amounts up to Rs 3 crore can be availed under this loan scheme.
6. Flexible repayment - A loan can be repaid through simple EMIs, with a maximum tenure of 84 months.
7. Loan transfer - A borrower can choose to transfer his/her mortgage loan from a different bank to Bank of Baroda.

Interest rate for Bank of Baroda Mortgage Loan - Individual

Note - Interest rates charged by Bank of Baroda are at their sole discretion and are subject to change without prior intimation.

Interest rate for Bank of Baroda Mortgage Loan - Non Individual

Other Service Charges and Fees

Term Loan: 1%

1. Minimum: Rs.8,500 up front per property
2. Maximum: Rs.1.5 lakh

Overdraft

Up to Rs.3 crore: 0.35%

1. Minimum: Rs.8,500 up front per property
2. Maximum: Rs.75,000

Above Rs.3 crore: 0.25%

1. Minimum: Rs.8,500 up front per property
2. Maximum: No Limit

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