Vijaya Bank has been merged with Bank of Baroda (BOB) in a recent development. The home loan customers of Vijaya Bank will be availing the benefits of the loan as per the Bank of Baroda home loan interest rates now. Check the latest BOB Home Loan Interest Rates.
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, 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|
Compare: Home Loan Interest Rate all Banks
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.
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.
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.
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.
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.
Yes. A maximum tenure of 18 months is offered as moratorium or repayment holiday for home loans.
Yes. Mortgage of flat or house that is being bought or constructed by Vijaya Bank home loan finance is required as security.
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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