BANK OF BARODA HOME LOAN

ABOUT BANK OF BARODA HOME LOAN


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.


  • The Home Loan sanctioned will be linked with Saving Bank Account.
  • The rate of interest applicable on this SB account will be Zero.
  • Under the scheme, the borrower shall have the option to deposit all his savings in the linked SB account to avail maximum benefit of interest in the Home Loan account.
  • Any credit available in the linked SB a/c at the end of the day will be counted for credit in linked Home Loan account. Consequently, the borrower will get the benefit of interest amount reduction in the Home Loan account to the extent of daily outstanding credit balance in the Savings Bank account.
  • The borrower will remit the Equated Monthly Installments (EMIs) into the linked SB account.
  • Recovery of EMI will be made by way of auto recovery from linked SB account only.

Bank offers following benefits with home loan availed by you.


  • Free Credit Card (BOBCARD – complimentary 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.
  • Top up Loan (Baroda Additional Assured Advance – AAA) can be availed 5 times during loan period. (Minimum Rs.1/- Lac, Â 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).
  • Close relatives of the applicant can be added as a co-applicant for higher eligibility, with or without being a joint owner of the property
  • Risk Based Pricing (Bureau Score Linked Rate of Interest) for Home Loan

INTEREST RATE-


Loan amount upto Rs.75 Lacs ROI for Home Loan is (One year MCLR to One year MCLR +1.00%) As per Risk Rating of the applicant/s. [8.35% at present.

Loan amount above Rs.75Lacs ROI for Home Loan is (One year MCLR to One year MCLR +1.00%) As per Risk Rating of the applicant/s. [8.35% at present

BANK OF BARODA PRE APPROVED LOAN


  • Baroda Pre Approved Home Loan provides in-principle approval for a Home Loan prior to identification of a specific house/flat/plot by a prospective applicant of Home Loan.
  • It gives the customer greater flexibility in negotiations with builders/sellers.
  • The customer is assured of eligible loan amount.
  • The in-principle sanction letter for Baroda Pre Approved Home Loan will give eligible loan amount calculated as per prevailing interest rates and other existing guidelines of Home Loan.
  • The loan eligibility will be assessed on the basis of income details of the customer as per existing guidelines of Home Loan scheme to Resident Individuals or NRI/PIO/OIC or Baroda Home Loan Advantage Scheme as the case may be.
  • Documents in support of income and repayment capacity (except property documents) to be submitted for issuing the Pre Approved Sanction letter.
  • The in-principle approval shall be valid for -4- months from the date of issue.
  • Processing Charges: Rs.7, 500/- + Service Tax (upfront and Non -refundable). Balance amount of unified processing charges as applicable to Home Loan only will be recovered after sanction of loan.
  • Property papers will be required to be submitted by the borrower within the validity of Baroda Pre Approved Home Loan, i.e, within -4- months from date of issue. If the borrower submits the property documents with in the validity period, balance amount of applicable unified processing charges only will be recovered from the borrower further on actual sanction of Home Loan.

HOME IMPROVEMENT LOAN


Bank of Baroda brings to you a unique loan product. A loan for Repairs / Renovations / Improvement/Extension of Home and for Furniture, Fittings & Fixtures.


Loan available for repairs / renovation / improvement / extension of the existing house.

  • Maximum Loan Rs.50 lacs
  • Repayment Period: Maximum 15 years
  • The eligibility for Baroda Home Improvement Loan will be calculated as per the scheme guidelines of Baroda Home Loan to Individuals

Loan available for purchase of furniture / fixtures / furnishing / other gadgets such as fans, geysers, air conditioners etc. required, to:

  • Our existing housing loan borrowers
  • New borrowers

Free Credit Card

  • Free Credit Card (complementary for first year) will be issued to borrowers with loan limit above Rs.2/-lacs.

Service Charges for Full Prepayment/Premature Closure

No penalty for pre-payment

Rate of Interest

One year MCLR to One year MCLR +1.00% (As per Risk Rating of the applicant/s.)

Charges

Upto Rs.50 Lacs: 0.50% of Loan amount

  • Minimum: Rs.7,500/- (Upfront)
  • Maximum: Rs.12,500/-

Above Rs.50 Lacs: 0.25% of Loan amount

  • Minimum : Rs.7,500/- (upfront)
  • Maximum: Rs.20,000/-

DOWNLODE

DOCUMENTS LIST – HOME LOAN DOCUMENTS LIST

BOB INTEREST RATE  Marginal Cost of funds based Lending Rate

TERM & CONDITIONS  MOST IMPORTANT TERM & CONDITIONS

APPLICATIONS FORM

Application-Form-Mortgage-Loan

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