In our previous articles, we discussed SBI Home loan interest rates, and PNB Home Loan interest rates, and we also compared all bank’s Home loan interest rates. Now, in this articles, we discussed about Bank of Baroda Home loan interest rates. Basically, BOB housing loans can be used for a variety of purposes. For e.g. buy a plot, purchase a flat, build your own home, and even extend your existing residence with a home loan, etc.
Benefits & Features of BOB Home Loan
- The rate of interest starts from 8.40%.
- Special rate offers for takeover cases/Fully completed/Govt. Projects.
- Special rate concession for Women borrowers, Salary accounts, Business account,s and Family account holders.
- Loans up to 90%.
- Hassle-free processing of loans.
Bank of Baroda Home Loan Interest Rate
| Product | Effective Rate of Interest (For Salaried) | Effective Rate of Interest (For Non-Salaried) |
| Baroda Home Loan to Non-Staff members | From 8.40% to 10.60% | From 8.40% to 10.60% |
| Baroda Home Improvement Loan to Non-Staff members | From 8.40% to 10.60% | From 8.40% to 10.60% |
| Baroda Home Loan Advantage – Upto Rs.75 lakhs | From 8.40% to 10.60% | From 8.40% to 10.60% |
| Baroda Home Loan Advantage – Above Rs.75 lakhs | From 8.65% to 10.85% | From 8.65% to 10.85% |
| Baroda CRE Home Loan | From 8.65% to 10.85% | From 8.65% to 10.85% |
| Baroda CRE Home Loan(Advantage) – Upto Rs.75 lakhs | From 8.65% to 10.85% | From 8.65% to 10.85% |
| Baroda CRE Home Loan(Advantage) – Above Rs.75 lakhs | From 8.90% to 11.10% | From 8.90% to 11.10% |
| Baroda Top-up Loan | Applicable ROI on linked Home Loan (Based on BRLLR on the date of availing of the top-up loan) + Strategic premium (0.25%) + 0.60% | |
Note:-
- The rate of Interest depends upon the Loan limit and CIBIL Score of the applicants.
- A risk Premium of 0.05% will be levied for customers not obtaining credit insurance coverage.
Bank of Baroda Home Loan Schemes
Baroda Home Loan
- ROI starts at 8.40%.
- Loans up to 90%.
- Low-Interest Rates and also Low Processing Charges.
- Loan Amount: Maximum 20 crores.
- Maximum Tenure: 30 years.
Baroda Pre-Approved Home Loan
- Loan Amount: Maximum 10 crores
- Maximum Tenure: 30 years
- Baroda Pre-Approved Home Loan provides in-principle approval for a home loan prior to the identification of a specific house, flat, or plot by a prospective applicant of the home loan.
- Assured eligible loan amount.
- Greater flexibility.
- Approval is valid for 4 months from the date of issue.
Baroda Home Loan Advantage
- Loan Amount: Maximum 20 crores.
- Maximum Tenure: 30 years.
- Processing Fees up to 0.35% of the loan amount.
- The Home Loan sanctioned will be linked with a Saving Bank Account.
- The rate of interest applicable to this SB account will be Zero.
Baroda Home Loan Takeover Scheme
- Loan Amount: Maximum 20 crores.
- Maximum Tenure: 30 years.
- Both resident and non-resident Indians are also eligible for takeover home loans and can switch home loans from other Banks.
- Low-Interest Rates and also Low Processing Fees.
- No Hidden Charges.
- No Pre-Payment Penalty.
- Interest charges on Daily Reducing Balance.
- Top-up facility is also available.
Home Improvement Loan
- Loan Amount: Maximum 10 crores
- Maximum Tenure: 30 years
- Renovating your home can be a costly affair, but a home improvement loan can make your dream home a reality.
Baroda Top-Up Loan
- Loan Amount: Maximum 10 crores
- Maximum Tenure: Age of the borrower + tenure should not exceed 65 years
- Low-Interest Rates and also Low Processing Fees.
- No Hidden Charges.
- No Pre-Payment Penalty.
- Interest charges on Daily Reducing Balance.
Eligibility Criteria for BOB Home Loan
- Resident Type:- Indians
- Non-resident Indians (NRIs) holding Indian passports or Persons of Indian origin (PIOs) holding foreign passports or Overseas Citizens of India (OCI).
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Minimum Age: Applicant:- 21 Years, Co-applicant:- 18 Years
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Maximum Age: 70 years
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Loan Tenure: up to 30 years.
Document Required For Bank of Baroda Home Loan Application
For Resident Indian
- Duly Filled and Signed Application form along with three Photographs.
- Driver’s License, Voter ID, Passport, Aadhar Card etc.
- Proof of Residence e.g. Driver’s License, Ration Card, Passport, Aadhar Card, Registered Rent Agreement, etc.
- If any previous loan then loan a/c statement for the last 1 year along with a sanction letter.
( If the loan is from BOB then Account No and Customer ID are required) - Latest 3 months’ Salary Slips & latest 1-month salary slip for Guarantors.
For NRI/ PIO/OCI
- Duly Filled and Signed Application form along with Photograph.
- Copy of Passport with Visa stamped.
- Proof of Residence (India & Abroad) (other than identity proof mentioned above): Driver’s License, Ration Card, Voter ID, Passport, Aadhar Card, Registered Rent Agreement.
- Details e.g. name, relation, address, contact numbers of the local contact person
- NRE Savings Bank statement of account for the last 6 months is required.
- Overseas Bank Account Statement for the last 6 months (including for Salary Account).
For more information visit the official site of Bank of Baroda Click Here.
Nupur Tanan
"Nupur Tanan" works at Financewisdom.in. She has experience in writing a vast range of varied content. She write knowledgeable, well-researched, and engaging articles on various personal finance and banking related topics.