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  • Vijaya Bank Home Loan

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  • Everybody has a dream - for many of us, it is to own a home, own our own space and not having to worry about clamorous landlords. Buying a home is a financial achievement in itself and has now become a status symbol. With rising property prices, taking a home loan is the easiest way to getting closer to your dream of buying a home. A home loan will comfortably finance your property purchase and you can pay back the amount in comfortable EMIs over a suitable tenure.

    Vijaya Bank home loan comes with a host of flexible options and features that benefit the borrowers. With affordable interest rates and quick disbursal process, Vijaya Bank will offer efficient and effective services to help you realize the dream of buying a home without any hassles.

    Vijaya Bank Home Loan Interest Rate:

    Vijaya Bank, now merged with Bank of Baroda, offers customers some of the most attractive and competitive rates of interest on their home loans in comparison with the rest of the industry. Customers can avail of interest rates starting at 7.25% p.a. on their home loans, which apply to all loan tenures on offer by the bank.

    The home loan interest rates offered by Vijaya Bank are as follows:

    Bank of Baroda Home Loan Schemes Interest Rate (p.a.)
    Baroda Home Loan 7.25% to 8.25% p.a.
    Baroda Home Improvement Loan 7.25% to 8.25% p.a.
    Baroda Home Loan Advantage 7.25% to 7.50% p.a.
    Baroda CRE Home Loan 7.50% p.a.
    Baroda CRE Home Loan (Advantage) 7.50% p.a. to 7.75% p.a.
    Baroda Top Up Loan (Resident/NRIs/PIOs) 7.80% p.a.
    Baroda Ashray (Reverse Mortgage Loan) 9.05% p.a. onwards

    Vijaya Bank Home Loan Eligibility:

    • Applicants should be aged between 21 years and 65 years.
    • The applicant’s age should be not more than 75 years by which the loan should be repaid fully.

    Vijaya Bank Home Loan Documentation:

    Having all the necessary documents in place will ensure a quick loan application processing. Generally, applicants will be asked to submit an identity proof, a proof of address, income documents and other property-related documents. Keep the following documents ready.

    • Duly filled loan application form
    • Recent passport size photographs
    • Identity proof – Voter ID, driving license, PAN card or passport
    • Proof of residence – latest copies of utility bill payments like electricity bill or telephone bill
    • Salaried applicants must submit bank account statements, certificate of employment, form 16, IT return statements and salary certificate
    • Personal assets and liabilities statements

    Additional documents might be asked for depending on the applicant’s type of income and employment. Do enquire with Vijaya Bank for an exhaustive list of documents required before proceeding with the application process.

    Vijaya Bank Home Loans EMI Calculator:

    A home loan is a huge financial responsibility and you must ensure that you are monetarily prepared to face it. To assess your financial affordability, you can make use of an online home loan EMI calculator. The calculator will project details like EMI, repayment schedule and information about amortization at the click of a button. Follow the easy steps given below to calculate the EMI for your home loan.

    • Visit BankBazaar's “Home Loan EMI Calculator” page.
    • Use the slider to enter your loan amount, tenure, interest rate and processing fee as a % of loan amount.
    • If you are planning to make pre-payments, choose “Yes” and fill in details like the pre-payment frequency, amount and fee to see how it affects the repayment schedule.
    • Click calculate to instantly find your monthly home loan EMI. The calculator will also project the break-up of all amount payable like total interest due.
    • The yearly and monthly amortization details will also be displayed.
    • You can use this data to make informed decisions about the loan. You can keep varying the parameters using the slider to arrive at a comfortable EMI value.

    Features of Vijaya Bank Home Loan:

    • Multi-purpose: Vijaya bank home loan can be utilized for the purchase or construction of a flat or a house & renovation or improvement of a property.
    • Takeover of Housing Loans from other Banks: Vijaya Bank also allows takeover of home loans from other finance companies and other banks and offers loan for the purchase of a plot or site and construction of home after that.
    • High Loan Quantum: Applicants are offered a high quantum of loan as per their requirements and borrowers can also add the income of children or spouse, depreciation, expected rent from property and income from other sources to increase loan eligibility.
    • Flexible Repayment Terms: Customers can choose a comfortable repayment tenure of up to 30 years.

    Vijaya Bank Home Loan FAQ

    1. What is the maximum home loan amount that will be provided by Vijaya Bank?

      There is no cap on the maximum loan amount. However, the quantum of loan will be decided based on the applicant’s repayment capacity and requirements.

    2. What is the margin for Vijaya Bank Home Loans?

      For loans up to Rs.75 lakhs, the loan margin is 20% and for loans exceeding Rs.75 lakhs, the margin is 25%. The project cost does not include stamp duty and registration charges.

    3. Is there any moratorium period or repayment holiday for home loans?

      Yes. A maximum tenure of 18 months is offered as moratorium or repayment holiday for home loans.

    4. Should I submit any security while availing the home loan?

      Yes. Mortgage of flat or house that is being bought or constructed by Vijaya Bank home loan finance is required as security.

    5. How is the quantum of loan amount assessed?

      Up to 75 months the gross annual income of the borrower is the maximum loan amount that is offered. This is also dependent on the applicant’s take home income and minimum margin requirements.

      

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    Vijaya Bank Home Loan Reviews

    • Vijaya Bank Home Loan
      "Good bank"
      0.5 4.0/5 "Great!"
      I approached so many private banks but they have not given me a proper response. When i approached Vijaya bank, the service was good. They took 1 month to sanctioned the loan. The given interest rate is 8.5%. I have taken the loan amount of Rs. 10 lakhs for the tenure period of 10 years.
      Was this review helpful? 6
      , bangalore
      Reviewed on Sep 23, 2019
    • Vijaya Bank
      Vijaya Bank Home Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I have taken Home Loan through Vijaya Bank directly .The rate of interest and the processing fee was high .I have taken this loan on floating basis ,I have applied for the loan amount of 15 lakhs for the tenure of 20 years .I have got the loan amount on time ,While submitting the documents the process was smnooth .According to me the service was average.
      Was this review helpful? 2
      , coimbatore
      Reviewed on Aug 06, 2019
    • Vijaya Bank Home Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have closed the home loan before 5 years with VIJAYA BANK and i got NOC. The loan amount amount given was sufficient also the rate of interest was floating and it is nominal. The documentation process was offline and i got the loan amount within 15days.
      Was this review helpful? 3
      , bangalore
      Reviewed on Jul 01, 2019
    • Vijaya Bank Home Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      My home loan was taken with VIJAYA BANK , the service which i got through this bank is good i never face any issue at the time of documentation . The tenure period is 20 year and rate of interest they charge was too nominal in the market compare to others .
      Was this review helpful? 4
      , kolkata
      Reviewed on Dec 29, 2018
    • Vijaya Bank Home Loan
      "Best service"
      0.5 4.5/5 "Excellent!"
      I have taken a home loan with Vijaya bank, the loan amount was good they gave me as per my expectation , and rate of interest they have charge is 8.9% it is nominal and even processing fee they have charge is nominal , there was no delay in getting my loan.
      Was this review helpful? 3
      , mumbai
      Reviewed on Oct 20, 2018
    • Vijaya Bank Home Loan
      "Excellent banking"
      0.5 5.0/5 "Blown Away!"
      I have taken a Home loan with Vijaya bank,the loan amount is 12.50 lakhs,the total tenure is 12 years ,rate of interest is nominal as compared to other banks.They had immediately processed the loan without much delay in process.I have registered for an auto debit payments from my salary account.
      Was this review helpful? 5
      , chennai
      Reviewed on Feb 09, 2018
    • Vijaya Bank Home Loan
      "Interest is low"
      0.5 4.0/5 "Great!"
      I closed this Home Loan some three years back and the experience with this Bank was pretty good. I was offered a cash limit of Rs. 10.50 Lakhs and the Rate of Interest they offered has been pretty good. The repayment option which they provide is pretty much convenient,
      Was this review helpful? 5
      , mumbai
      Reviewed on Dec 26, 2017
    • Vijaya Bank Home Loan
      "Professional Bank"
      0.5 5.0/5 "Blown Away!"
      I felt the Vijaya Bank to be one of the professional Banks that is their in market now. They respond to you properly and the Housing loan given to me was approved very easily and EMIs are very easy to pay up, The whole Banking is been simplified by them.
      Was this review helpful? 3
      , chennai
      Reviewed on Oct 25, 2017
    • Vijaya Bank Home Loan
      "not good"
      0.5 2.0/5 "Expected more"
      It was a real bad experience i had with VIJAYA BANK .i took loan on 2016 last year and they provided me the rate of interest of 9.56% and they gave me processing fee of 0.5% i was really unhappy with this . as i was in a urgency and did not had any other option i took the loan . really the customer is also very bad .
      Was this review helpful? 2
      , vadodara
      Reviewed on Sep 21, 2017
    • Vijaya Bank Home Loan
      "All went good with Vijaya Bank"
      0.5 5.0/5 "Blown Away!"
      All went good with Vijaya bank when I took the housing loan its an ongoing loan. I don't get any intimation where there would be a fall in the rates. I am getting statements from them on time no issues with them absolutely and I am very much happy with the rates too.
      Was this review helpful? 3
      , bangalore
      Reviewed on Aug 24, 2017
    • Vijaya Bank Home Loan
      "Customer friendly service"
      0.5 5.0/5 "Blown Away!"
      Vijaya bank is very quick in their process and they have done my home loan process within the promised time. The branch manager also helped me a lot in concern to home loan application, They took my requirement personally and gave the very good service. I got the best Interest rate in the in the market. I am happy about the loan amount. The Vijaya bank service has been satisfied me.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jun 13, 2017
    • Vijaya Bank Home Loan
      "Common bank in karnatka"
      0.5 4.0/5 "Great!"
      At my home town branch the service provided by Vijaya bank was really good.They process home loan application in a simple manner.The delay happened but it was from my end and not bank.I remember they didnt apply any processing fee for the application.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jul 15, 2016
    • Vijaya Bank Home Loan
      "Fantastic..."
      0.5 5.0/5 "Blown Away!"
      The manager came my house to assist for the home loan and they work even in holidays. I asked for three lakhs but they ready to sanction ten lakhs. Interest rate is something 9% for home loan. No extra charges been deducted. Vijaya bank is helping so many people by giving loans. Though I completed the loan they give good response when I go to the branch.
      Was this review helpful? 2
      , bangalore
      Reviewed on Mar 01, 2016
    • Vijaya Bank Home Loan
      "Average"
      0.5 4.0/5 "Great!"
      Vijaya bank is the government organization bank so they have many documents required to sanction the home loan they took 5 month but the demanded amount was not given. Interest rate offered was 9.50% which has been more than year but it is flexible rate.
      Was this review helpful? 2
      , mumbai
      Reviewed on Feb 09, 2016
    • Vijaya Bank Home Loan
      "Very good and reliable friend "
      0.5 4.0/5 "Great!"
      The loan process was very good.They are processing the loan in a very clear manner.The executive are very clear about the loan process.The documents required was quite simple to process.The interest rate applied was also quite less with vijaya bank
      Was this review helpful? 2
      , kolkata
      Reviewed on Jan 09, 2016
    • Vijaya Bank Home Loan
      "Good rate of interest"
      0.5 3.0/5 "Satisfactory"
      The rate of interest provided by Vijaya Bank in regards to Housing loan is very good compared to other banks. Everybody should be aware of the fact that they provide loan only for cost of the property and not for the construction cost. They were very helpful for the documentation process and it only took 4 days for the processing.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 15, 2015
    • Vijaya Bank Home Loan
      "Satisfied..."
      0.5 4.0/5 "Great!"
      I have good credit history with the Vijaya bank and the mangers are very helpful for me. Employees in the lower level are not responding properly. I got the home loan for 6lakhs but they deducted 2600, which is heavy as it is 2.5%. Rate of interest is 13.5%.
      Was this review helpful? 2
      , vellore
      Reviewed on Oct 24, 2015
    • Vijaya Bank Home Loan
      "Not Completed "
      0.5 4.0/5 "Great!"
      My Home loan was taken from VIJAYA bank quite long back. But due to some personal issues I have not continued this loan with them. Also I sold my house to some other person where he has started paying the monthly EMI. Other than this there was no issues with the bank.
      Was this review helpful? 4
      , bangalore
      Reviewed on Sep 22, 2015
    • Vijaya Bank Home Loan
      "Happy going "
      0.5 4.0/5 "Great!"
      I have taken my home loan from VIJAYA bank for the tenure of 20 years. Mr. Shetty is the bank manager who helped me a lot in processing this application. Since it is an nationalized bank they do not have online services. The customer service team are very much supportive.
      Was this review helpful? 7
      , mumbai
      Reviewed on Aug 26, 2015
    • Vijaya Bank Home Loan
      "My Bank..."
      0.5 5.0/5 "Blown Away!"
      It is nationalized bank and I already have a current account with them. I took a home loan from vijaya bank. It was a good experience. I got a nominal rate of interest. They take care of everything. The bank people are really helpful. I got my loan in just 15 days. They provide good services.
      Was this review helpful? 5
      , bangalore
      Reviewed on Aug 08, 2015
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