Bank of Baroda Home Loan | Interest Rates | Documents | Apply

Latest Bank of Baroda home loan interest rate starts from 10.25% p.a. Get Details on Documents, Eligibility, Rates & other fees & charges on BOB home loans.

Bank of Baroda Home Loan Overview:

Bank of Baroda invites you to be a proud owner of your own home and offers easy Home Loan with a number of conveniences to suit your budget.

Bank of Baroda Home Loan is available for:

  • Purchase of new / old dwelling unit. | Construction of house | Purchase of plot of land for construction of a house.
  • Repaying a loan already taken from other Housing Finance Company / Bank.
  • Repayment period up to 30 years (floating rate option).

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Current Interest Rates of Bank of Baroda Home Loan: 2014

Baroda Home Loan to Individuals / NRIs / PIOs (W.E.F 01.06.2013)
Floating Rate option (for fresh sanctions and for existing accounts w.e.f. 01.06.2013)
Repayment Period Up to Rs. 30 Lacs Above Rs. 30 Lacs and below Rs. 75 Lacs 75 Lacs and above
Upto 5 years 10.25% 10.25% 10.25%
Over 5 years & up to 15 years 10.25% 10.25% 10.25%
Over 15 years & up to 30 yrs 10.25% 10.25% 10.25%

Eligibility Required

  • In case of Salaried:
     Monthly Income Modified Criteria
    Up to Rs. 20,000/- 36 times of monthly income
    More than Rs.20,000/- & up to Rs. 1 lac 48 times of monthly income
    More than Rs. 1 lac 54 times of monthly income

    In case of others viz. professionals / self-employed / businesspersons etc., 5- times of average annual income (last three years).

Value propositions

Bank offers following benefits with home loan availed by you:

    • Free Personal Accident Insurance is available for stipulated tenure.
    • Free Credit Card (BOBCARD – complementary for first year) to all Home Loan borrowers (first borrower) with loan limit of Rs. 2/- Lacs and above.
    • Concession of 0.25% in rate of interest for Car Loans.
    • Concession of 0.50% in rate of interest for Loan for consumer durables.
    • Top up Loan (Baroda Additional Assured Advance – AAA) can be availed 5 times during loan period.
      (Minimum Rs.1/- Lac,  Maximum Rs.200/- Lacs or 75% of residual value of house property after deducting 150% of outstanding loan amount of existing Home Loan, whichever is lower).
  • As per current IT provisions – Interest on loan upto Rs.1.50 lacs per annum is exempt from income tax (Under section 23/24 (1) of the Income Tax Act). An additional deduction of interest upto Rs.1 lac is available to persons taking a loan for their first home upto Rs.25 lacs during March 2013 to Feb 2014.

Processing Fees & Charges

Sr. No. Particulars Unified Processing Charges
(Exclusive of Service Charges)
1. Home Loan
(Baroda Home Loan to Resident Indians / NRIs / PIOs)
Loan upto Rs.30 Lacs  – 0.50% (Minimum Rs..5,000/-)
Above  30 Lacs            — 0.40% (Min. Rs.15,000/- & Max. Rs.50,000/-)
Home Loan to Staff (under public scheme) Existing charges – Processing & Doc.
Takeover of Home Loan  (Resident /NRI/PIOs) 0.10% (Without any Maximum limit)
Home Improvement Loan 0.50%
Baroda Additional Assured Advance Upto Rs.30 lacs    — 0.50% (Minimum Rs.5,000/-)
Above Rs.30 lacs  — 0.40% (Min. Rs.15,000/-  & Max. Rs.50,000/-)


Source: Bank of baroda Website

 

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Disclaimer: This information is sourced from Bank's Website to help customers to gain information on Banks product.