Latest Bank of Baroda home loan interest rate 2015 starts from 9.90% p.a. Find Details on Documents, Eligibility, Rates. Calculate EMI with Calculator on BOB home loans through deal4loans.
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. As on October 30, 2014 – Bank of Baroda has total number of 4993 branches all over the India.
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).
Interest Rates on Advances – Base Rate (per annum) w.e.f. 13.07.2015 – 9.90%
Current Interest Rates of Bank of Baroda Home Loan – Updated as on 13 July 2015
|Baroda Home Loan to Individuals / NRIs / PIOs|
|Repayment Period||Up to Rs. 30 Lacs||Above Rs. 30 Lacs and below Rs. 75 Lacs||75 Lacs and above|
|Upto 5 years||9.90%||9.90%||9.90%|
|Over 5 years & up to 15 years||9.90%||9.90%||9.90%|
|Over 15 years & up to 30 yrs||9.90%||9.90%||9.90%|
Bank of Baroda Home Loan EMI Calculator
Calculate your home loan EMI. How much will a loan cost you every month? Our EMI calculator for home loan will tell you quickly. Calculate EMI @10.00% Rate of Interest.
• Enter the loan amount you wish to avail in the EMI calculator.
• Then enter the loan tenure (months).
• And the rate of interest (reducing).
• Press “calculate”.
• Our EMI calculator will tell you just how much your EMI amount comes to.
✓ Calculated Monthly EMI for 20 Lac loan amount @ 10 Percent Rate of Interest for 30 Years – Rs.17551.43
✓ Total Amount with Interest paid by you – Rs.6318514.8
✓ Flat Interest Rate Per Annum – 7.20%
✓ Flat Interest Rate Per Month – .60%
✓ Total Interest Amount for 20 Years – Rs.4318514.8
✓ Yearly Interest Amount – Rs.143950.49
Eligibility or How much you can get from Bank of Baroda for your Dream Home
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).
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.
Download Application Form of Bank Of Baroda Home Loan – Here
Here’s Past Trend of Bank of Baroda 5 Years on Base Rates Changes for Customer or Borrowers Prospective:
|Date||Change by RBI||New Repo Rate||Date of Change||New Base Rate of Bank of Baroda|
Unified Processing Charges :- Unified processing charges (which includes processing charges, documentation charges, document verification charges and pre & one time post sanction inspection charges) to be levied as detailed below :-
Loans upto Rs 30/- Lacs : 0.50% of limit minimum Rs.5000/.
Loans above Rs 30/- Lacs : 0.40% of limit minimum Rs.15000/ Maximum, Rs.50000/
(service Tax to be recovered separately in addition to the above)
In case of Takeover of Home Loan: 0.10% maximum Rs 10000/-
Inspection : Bank will have the right to inspect the borrower’s property at all times and from 2nd post sanction Inspection onwards Rs 100 plus service tax per inspection to be charged from borrower.
Legal opinion & Valuation charges : – Title of the property proposed to be purchased is to be clear, absolutely unencumbered and marketable to the satisfaction of the Bank’s solicitor/ advocate. Legal fee is to be paid for legal opinion to be obtained through a lawyer on the Bank’s panel. The fee is payable regardless of the fact that whether clear title is established and whether loan is sanctioned.
Valuation Fee : – Valuation of the property will be done by the empanelled valuer of the Bank for which prescribed fee is payable by the borrower.
Other Expenses : – like stamp duty for execution of documents, registration charges varying from State to State and other related charges/ expenses for the loan shall be borne by the Borrower.
Free Personal Accident Insurance is available for stipulated tenure.
Life Insurance Cover to Home Loan Borrowers : – Optional Life Insurance Cover is available to Home Loan Borrowers from Indiafirst Life Insurance Co Ltd and Kotak Life Insurance co Ltd at the cost of borrower.
Penalty Clause for Full Prepayment/ Premature Closure : – There are no prepayment charges for foreclosure of loan.
Conversion from Fixed Interest Rate to Floating Interest Rate Option : – can be considered by Bank with prospective effect subject to following:-
If the Account is regular
As one time offer from the Bank
Upfront payment of Charges on outstanding balance @0.50% for every year for the residual period of the loan maximum 2% of the amount outstanding on the date of allowing conversion.
Borrower’s request in writing for change of Rate of interest from fixed to floating rate is obtained.
Validity of sanction : – shall be 4 months.
Credit Information Report : Bank is authorized to make enquiries from any of the Credit Information Bureau and get the Credit Information Reports. Bank is also authorized to disclose from time to time any information relating to the loan to any Credit Bureau approved by Got of India or Reserve Bank of India without any notice to the borrower.
Bank of Baroda
Baroda Corporate Centre,
Plot No – C-26, G – Block, Bandra – Kurla Complex, Bandra (East), Mumbai-400051
Phone :(022) 6698 5000- 04
Fax :(022) 2652 3500
Debit Cards (India) 24 hours – Toll Free – 1800 22 04 00
Contact Centre (India) – 1800 22 33 44, 1800 102 44 55
Source: Bank of baroda Website
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