Home  »  Banking  »  Loans  »  Home Loan  »  Bank Of Baroda Home Loan

Bank Of Baroda Home Loan

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
Details
Documents Required

  • Duly filled in application form along with 3 recent passports sized photographs
  • Proof of Identification (Any One): Passport/ PAN/ Election ID Card/ Driver’s License
  • Proof of Residence or Address (Any One): Aadhar Card/ Driving License/ Utility Bills including water bill, electricity bill, LPG bill, telephone bill/ Passport
  • Recent 3 months salary slip or Salary Certificate from the currently employed organization.
  • Copy of Form 16 for the last 2 years or a copy of IT Returns for the last 2 financial years which is acknowledged by the IT Department.
  • Identity Card of Employer
  • Proof of Investment: Shares or stocks, Insurance, Fixed Deposits
  • For Business Owners/ Self-Employed Persons: IT Returns, Profit & Loss Account, Audited Balance Sheets, Assessment orders, advance tax challans (for both company as well as firm and personal account) for the previous three years.
  • Copies of documents related to the property that has been zeroed in for purchase
Benefits

  • The home loan is available for the purchase of a new house or for the old existing unit.
  • The home loan can also be applied for the construction of a new house or for the purchase of a plot of land for construction of a house
  • The repayment period is spread across a period of 30 years.
  • The applicant can either choose for floating or for a fixed interest rate to repay the loan
  • Attractive interest rates which are easy on borrowers pockets. 
  • Get a free credit card and insurance with every home loan.
Eligibility

  • The applicant can be either a resident Indian or Non-Resident to secure a home loan in Bank of Baroda.
  • The minimum age of the applicant should be 21 years
  • The maximum age of the applicant should be 70 years
  • Salaried individuals should at least have one year of remaining service pending to secure the loan.
Other Details

  • The approved home loan usually depends on the location and the income of the applicant.
  • The semi-urban and rural areas will get a maximum of Rs 1 crore as home loan.
  • The applicants who reside in metros can avail a loan between Rs 5 crores – Rs 10 crores (based on the requirements).
  • Processing Fee – 0.5% of the loan amount if the loan is less than Rs 50,00,000 with a minimum fee of Rs 7,500 and a maximum of Rs 12,500.
  • The Processing Fees is 0.25% of the loan amount if the loan is more than Rs 50,00,000 with a minimum fee of Rs 7,500 and a maximum of Rs 20,000

Latest Articles

Bank of Baroda Trims Down Lending Rates on Loans

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

Find IFSC


More Headlines

Get Latest News alerts from Goodreturns

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more