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Bank of Baroda Home Loan 2021: Interest Rate, Eligibility, Apply Online Now.

Bank of Baroda Home Loan 2021: Interest Rate, Eligibility, Apply Online Now.

Jun 22, 2020By Admin

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

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