|Loan Name||Interest Rate||Processing Fee||Loan Amount||Tenure|
|Bank Of Baroda Home Loan||One year MCLR to One year MCLR +1.00% (As per Risk Rating of the applicant/s.)||₹7,500 - ₹20,000||up to 10 crore||30 Years|
|Baroda Home Loan Advantage||One year MCLR to One year MCLR +1.00%||0||maximum Rs 10 crore||up to 30 years|
Income Proof for Salaried Applicant/ Guarantor/ Co-Applicant
Income Proof of Non- Salaried Applicant/ Guarantor/ Co-Applicant
|Baroda Pre Approved Home Loan||Floating and Fixed||Rs 7500 + GST charges||min Rs 10 lakhs||up to 30 years|
|Home Improvement Loan||Maximum of base rate + 2.50% per annum||Rs 7500 + GST charges||maximum of up to Rs 75,00,000||up to 30 years|
|Interest Subsidy Scheme for Housing the Urban Poor (ISHUP)||8%||7500 + applicable taxes||up to Rs 1,60,000||up to 20 years|
|Baroda Home Suvidha Personal Loan||0||0||depends on combined income||minimum of 50% of the original home loan tenure|
|Baroda Top Up Loan||Applicable ROI on Home Loan + Strategic Premium + 0.50%||0.25% of loan amount||75% of the residual value of the house||up to 20 years|
|Baroda Ashray (Reverse Mortgage Loan)||One year MCLR + Strategic Premium + 1.75%||0.20% of loan amount||maximum of up to Rs 1 crore||up to 15 years|
|Baroda Home Loan Takeover Scheme||One Year MCLR+ Risk Premium||0.50% of Loan amount + GST||based on loan amount from other bank||up to 30 years|
Q: What is the interest rate in Bank of Baroda for home loan borrowers?
A: Bank of Baroda offers home loans with an attractive rate of interest.
The interest rate range is from 8.30% to 9.35%. It totally depends on the borrower's profile and income.
Q: How many types of home loans BOB providing to its customers?
A: Bank of Baroda offers various home loans which are suitable to meet the applicant’s needs and desires. The various home loan categories in BOB includes
1. Home Improvement Loans
2. Bank of Baroda Pre-Approved Home Loan
3. Baroda Home loan Suvidha Personal Loan
4. Bank of Baroda NRI Home loan.
Q: What is the maximum loan amount BOB is providing for housing loan customers?
A: The applicant can avail the maximum loan amount from Bank of Baroda up to Rs. 10 crores. An applicant who is residing in the rural/semi-urban area can apply for a BOB home loan and get a maximum of Rs.5 crore, whereas applicants from other areas can apply for a BOB Home loan for a maximum amount of Rs. 10 crores.
Q: What are the charges in BOB for a housing loan?
A: Bank of Baroda provides housing loan with the lowest processing charges as follows:
Q: What are the documents required to avail the home loan in BOB?
A: To avail the home loan in BOB the applicant should provide the following list of documents:
The Bank of Baroda has cut the MCLR by up to 10 basis points (bps) on various tenors and the same will come into effect starting from Sunday (July 7, 2019).
In its regulatory filing, the bank stated that it has revised the marginal cost of funds – based lending rate.
Accordingly, the benchmark for one – year MCLR has been trimmed down by 10 bps to 8.60 per cent from its earlier record of 8.70 per cent. This one-year MCLR is the rate which is linked to most of the loans including home loan, personal loan and car loan.6 July 2019
The Bank of Baroda has announced its decision to cut the lending rates on loans for its customers thereby making it cheaper. The public sector lender has cut its benchmark lending rate to the tune of 0.1 per cent. The bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR) under the Regulatory 30 of SEBI (LODR) regulations of 2015.
Accordingly, lending rates of loans whose tenure is less than a year are down by 10 basis points. The new loan rates will come into effect starting from March 7, 2019.
The MCLR for one year period has also been trimmed to 8.65 per cent from its earlier rate of 8.75 per cent.6 March 2019