Bank of Baroda Home Loan
Already decided property but couldn’t be able to buy due to lack of money, no more worries when Bank of Baroda home loan offer you loan at lowest interest rates with flexible tenure period up to 30 years. It’s a one such package filled with various benefits.
BOB Home Loan Features & Benefits
Features
- Maximum Loan amount can be obtained
- Grab home loan at lowest interest rate
- Tenure with moratorium period lets longest repayment
Benefits
- Lowest interest rates & processing charges
- Free credit card and insurance
- 90% of Loan to value ratio
- BOB offers your Top-up facility
Bank of Baroda Various types of Home Loans
Bank of Baroda Home Loan: -
Whether you're looking to purchase or construct your home, Bank of Baroda is the one stop solution. You can get the lump sum amount to buy your most desired property. Easy and minimum documentation process.
BOB Home Loan Advantage: -
This facility allows you to get home loan sanction in linked saving account. Borrower will be given the option to deposit his/her saving in SB (Saving bank account) as this will led to avail maximum benefit of business.
BOB Pre-Approved Home Loan: -
As its name suggests approved home loan is given to only potential borrowers who qualify some eligibility criteria to get approved. So, if your loan is pre- approved you can contact Bank of Baroda to enjoy better benefits.
BOB Home Improvement Loan: -
Bank of Baroda offers flexible & affordable housing loan by which you can use the loan amount for your home renovation, painting, carpeting, tiling & etc. BOB provides home improvement loan at zero pre-closure charges.
BOB Interest Subsidy Scheme for Housing: -
This facility is specially designed for economically weaker section of urban areas, availing housing loan allow to get subsidy on interest with other beneficial features like flexible tenure & low interest.
BOB Home Suvidha Personal Loan:-
BOB home suvidha personal loan allow you to get loan for home purchasing associated various cost such a stamp duty, registration, tax duty, insurance premium, GST & other charges.
Bank of Baroda CRGFS Housing Loan: -
Ministry of housing and urban poverty alleviation (govt of India) established CRGFS scheme to aid low-income segment for making their dream come true of owning a new home.
Bank of Baroda Top Up Loan: -
Through BOB Top up loan, you can avail minimum loan amount as 1 lakh & maximum loan amount as 2 crores but remember repayment tenure period will be the balance on your existing home loan.
Pradhan Mantri Awas Yojana (PMAY):-
This scheme is approved by the central government in respect of the objective to provide housing for all urban areas withing the end of 2022. The borrower can avail interest subsidy as per the income category he/she belongs to.
Baroda Home Loan Takeover Scheme:-
Switch your existing home loan of other bank to bank of Baroda to get additional benefits like Lower interest rates, minimal documentation, less processing fee. Both residential & non-residential individuals can apply for home loan takeover scheme.
| List of Bank of Baroda Home Loan Scheme | Salaried Interest Rates | Self-Employed Interest Rates |
| Bank of Baroda Home Loan | Min – 6.75% - Max- 7.60% p.a | Min – 7.50% - Max- 8.40% p.a |
| BOB Home Loan Advantage | Min – 6.75% - Max- 8.35% p.a | Min – 7.40% - Max- 8.15% p.a |
| BOB Pre-Approved Home Loan | Min – 6.90% - Max- 8.10% p.a | Min – 7.15% - Max- 10.00% p.a |
| BOB Home Improvement Loan | Min – 6.75% - Max- 8.10% p.a | Min – 7.30% - Max- 8.50% p.a |
| BOB Interest Subsidy Scheme for Housing | Min – 7.10 - Max- 8.25% p.a | Min – 8.10% - Max- 9.00% p.a |
| BOB Home Suvidha Personal Loan | Min – 7.25% - Max- 9.00% p.a | Min – 8.25% - Max- 9.00% p.a |
| Credit Risk Guarantee Fund Scheme for Low Income Housing | Min – 7.10% - Max- 8.45% p.a | Min – 8.00% - Max- 9.00% p.a |
| Bank of Baroda Top Up Loan (Resident/NRIs/PIOs) | Min –7.50% - Max- 8.40% p.a | Min – 8.20% - Max- 9.30% p.a |
| Pradhan Mantri Awas Yojana (PMAY) | Min –7.35% - Max- 8.40% p.a | Min –7.80% - Max- 8.40% p.a |
| Baroda Home Loan Takeover Scheme | Min – 6.75% - Max- 8.00% p.a | Min – 7.15% - Max- 8.00% p.a |
Bank of Baroda home loan interest rate & Processing fees
| Processing Fees | 0.25% to 0.50% + GST |
| Interest Rate | 6.75% onwards |
| Maximum Tenure | Up to 30 years |
Type of Other Charges by Bank of Baroda Home Loan
Loan processing charges: - For below 50 lakh loan amount 0.50% will be charged
For above 50 lakh loan amount 0.25% will be charged as a processing fee.
Deviation Charged: - Min 1000 – Max 5000 will be charged per deviation
Modification Charges: - For below 1 Crore Rs 5000/- will be charged.
Above Rs. 1 Crore & up to Rs. 10 Crore: Rs. 15,000
Above Rs. 10 Crore: Rs. 25,000
Bank of Baroda Home Loan Eligibility
BOB home loan are packed with several exclusive benefits for home buyers. Don’t miss the chance, try to grab the best deals before that make sure you meet up eligibility criteria as given below:-
| Age | 21 – 70 years |
| Employment Type | Salaried and Self-employed professional and non-professional |
| Minimum Salary for Salaried | Rs.25,000 per month |
| Minimum Salary for Non-Salaried | Rs.2 lakh per annum |
Bank of Baroda Home Loan Eligibility Criteria for Salaried: -
- Applicant must be resident of India
- Applicant age should be in-between 21 to 70 years
Bank of Baroda Home Loan Eligibility Criteria for Professional: -
- Applicant age should be in-between 21 – 65 years
- Doctor, CA, Architect, Lawyers, Consultant, Engineer & CS can apply for Home Loan on Professional category.
Bank of Baroda Home Loan Eligibility Criteria for Self-Employed: -
- Any individual filling income tax returns are eligible
- Maintain good financial records
- Minimum 3 years of existing business
Bank of Baroda Home Loan Documents Required
Salaried & Self-employed are required to provide any one of the following for identity proof: -
- Aadhaar Card
- Driving License
- Passport
- Election/ Voter ID Card
- PAN Card
Salaried & Self-employed are required to provide any one of the following for residence proof: -
- Passport
- Aadhaar Card
- Driving License
- Election/ Voter’s ID Card
- Bank Account or Post Office Savings Bank Account statement
Salaried & Self-employed are required to provide any one of the following for Age proof: -
- Aadhar Card
- Valid Passport
- Voter ID
- Birth Certificate
Salaried & Self-employed are required to provide any one of the following for Income proof: -
- Latest 6 months bank statement
- Income tax returns or form 16
Salaried & Self-employed are required to provide below mentioned mandatory documents: -
- Proper filled loan application with 2 colored passport size photographs
- Processing cheque fee in favour of the bank
How to apply for Bank of Baroda Home Loan Online?
Step 1 - You can apply for Bank of Baroda home loan through visiting their website Bank of Baroda.com or visit the nearest Bank of Baroda branch.
Step 2 - Before that check your eligibility criteria meet well or not from your end to avoid loan rejection. If yes you may download home loan application form by online or collect it from nearest branch bank.
Step 3- Fill the required details of your personal & occupational & attach KYC & mandatory documents. Note: - Check twice before submitting the loan application.
