A home loan from Bank of Baroda may be used to buy a house, buy a plot of land, build a house, or renovate a house. The bank's home loan interest rates beginning at 6.75 % p. a. Apply for a Bank of Baroda home loan with a low interest rate and a repayment period of up to 30 years. With clear terms, standard paperwork, and a low processing fee.
Bank of Baroda Home Loan Schemes:
Baroda Home Loan: Baroda Home Loans can be used to buy a new or used house, flat, or plot, build a house on a plot that has been purchased, and/or extend an existing home.
Features:
- During your loan term, you can take out a Top-up Loan up to 5 times.
- For any Home Loan, the pricing is based on risk (linked to a Bureau score).
- In Mumbai, the maximum loan sum is Rs 10 crore; in other metros, it is Rs 5 crore; and in semi-urban and rural areas, it is Rs 1 crore.
- Up to 30 years of flexible tenure.
- With all Home Loan options, the bank also provides free accident insurance.
- There is also a balance transfer option for home loans.
Baroda Top up Loan: With this scheme, you can get a top-up loan (an extra loan amount) on your existing Bank of Baroda Home Loan for your personal financial requirements.
Features:
- All existing Home Loan borrowers, including employees, ex-employees, NRIs, and PIOs, are eligible for a top-up loan.
- The amount of the loan is determined by the Standard Asset Classification.
Home Renovation Loan: This loan may be used to restore, renovate, or develop a house or flat that already exists. You can purchase Water filters, fans, geysers, air conditioners, air purifiers, furniture, fixtures, or gadgets by using this loan.
Features:
- This loan is available to both Indian citizen and non-resident Indians who are salaried or self-employed.
- Repayment tenure of up to 30 years.
Baroda Pre-Approved Home Loan: Before identifying a particular house/ plot/ apartment, borrowers may get an in-principle approval for a Home Loan.
Features:
- When it comes to negotiating with sellers and builders, you have more options.
- You know how much money you'll be able to borrow.
- Specific income data are used to determine loan eligibility under the Home Loan program.
- The approval in principle is valid for 4 months from the date of sanction.
Bank of Baroda Home Loan Interest Rates 2021:
The current Bank of Baroda home loan interest rates range from 6.75 %to 8.20 %, with special discounted rates for particular borrowers, such as women borrowers, who pay the lowest interest rate of 6.75 %. The interest rates on various Bank of Baroda housing finance schemes are described in the table below.
|
Bank of Baroda Home loan schemes |
Interest rate |
|
Baroda Home Loan |
6.75% to 8.20% |
|
Baroda Home Improvement Loan |
6.85% to 8.20% |
|
Bank of Baroda Home Loan Advantage |
6.75% – 8.35% |
|
Baroda Top Up Loan |
7.70% |
Documents Required for Bank of Baroda Home Loan:
|
Documents Required |
Salaried |
Self-employed |
|
Identity proof: |
Passport, PAN Card, Aadhar Card, Driving Licence. |
Passport, PAN Card, Aadhar Card, Driving Licence. |
|
Residence Proof: |
Passport, Aadhar Card, Driving Licence, Ration Card, Registered Rent Agreement, Latest Electricity Bill. |
Passport, Aadhar Card, Driving Licence, Ration Card, Registered Rent Agreement, Latest Electricity Bill. |
|
Income proof |
Last 3 months Salary slips. Last 6 Months Bank Statements. Income Tax returns + Form 16 issued by the employer for previous 2 years
|
Last two years' IT returns For company owners, financial statements include: Profit & Loss (Balance Sheet) Audited statement. GST registration certificate. |
|
Property Documents |
Property Title Document Photocopy |
Property Title Document Photocopy |
