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Bank of Baroda Home Loan Details

July 5, 2012 | Posted in Loans
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Bank of Baroda Home Loan Details are available here with us. Bank of Baroda offers Home Loan to customers at reasonable interest rate. Bank of Baroda Home Loan Interest Rate is reasonable and affordable in comparison to other banks operational in the country. Bank of Baroda well understands the value of your own home and hence invites you to be a proud owner of your dream own home. Bank of Baroda offers convenient Home Loan that is reasonably affordable. You can apply BOB Home Loan for purchase of New HouseConstruction of HousePurchase of Plot of land for Construction of a house. You can also take Home Loan from Bank of Baroda for repaying a loan already taken from other Housing Finance Company or Bank. Repayment period for the Home Loan is up to 25 years with Floating Rate option. If you are planning to buy your dream home, you can take Bank of Baroda Home Loan and make your dream come true. We have mentioned below comprehensive detail on Bank of Baroda Home Loan interest Rate. You can compare Interest Rates to other Financial Establishments with the help of below mentioned table.

Customers who take Bank of Baroda Home Loan during the Campaign Period will be more benefitted that those who take the loan after the Campaign period. HOME LOAN CAMPAIGN began on 14.05.2012 and will end on 31.07.2012. During this period customers will have to pay Zero Processing Charges. During this period Interest Rates have been reduced on Home Loans by 25 bps to 50 bps on different tenures/amount. Reduced interest rates are applicable on Home Loan Accounts sanctioned during the Campaign Period.

Bank of Baroda Home Loan Interest Rates, EMI Calculator, Eligibility and Document Required

Applicable Interest Rates on Home loans during the Campaign period (14.05.2012 to 31.07.2012) are as under

Loan Tenure

Loan below Rs.30 Lacs

Above  Rs.30 Lacs & upto Rs.75 Lacs

Rs.75 Lacs and above

Upto 5 years Base Rate + 0.25% Base Rate + 0.75% Base Rate + 1.00%
Over 5 years & upto 15 years Base Rate + 0.25% Base Rate + 1.00% Base Rate + 1.25%
Over 15 Years & upto 25 years Base Rate + 0.50% Base Rate + 1.25% Base Rate + 1.50%
  • Annual base rate for Bank of Baroda Home Loan is 10.50%.
  • Baroda Home Improvement Loan is 2.50% + Base Rate

Bank of Baroda Home Loan interest Rate after Campaign period

Repayment Period

Below Rs.30 Lacs

Above Rs.30 Lacs & below Rs.75 Lacs

Rs.75 Lacs and above

Upto 5 years 0.50% + Base Rate 1.25% + Base Rate Base Rate + 1.50%
Over 5 years & up to 15 years 0.75% + Base Rate 1.50% + Base Rate Base Rate +1.75%
Over 15 years & up to 25 yrs 1.00% + Base Rate 1.75% + Base Rate Base Rate +2.00%

EMI is also known as Equated Monthly Installments.  These are monthly payments one needs to make in order to pay off the loan. When you take loan from Bank of Baroda you will need to pay your loan EMI on a specific date every month. Your loan EMI depends upon your loan amount, interest rate and tenure of the loan. Use the loan EMI calculator below to instantly get loan EMI quotes from Bank of Baroda.

Bank of Baroda Home Loan EMI Calculator URL

http://www.bankofbaroda.com/calculators/calculators.asp

Bank of Baroda Home Loan Eligibility

  • Non-Resident Indians holding Indian passport or Persons of Indian origin holding foreign passport, singly or jointly. For this purpose Person of Indian Origin means a citizen of any country other than Bangladesh, Pakistan, Sri Lanka,  Afghanistan, China, Iran, Nepal and Bhutan if –
  1. he at any time held Indian passport
  2. he or either of his parents or any of his grandparents was a citizen of India by virtue of the constitution of India of the Citizenship Act 1955,
  3. the person is a spouse of an Indian citizen or a person referred to in sub-clause (a) or (b) above.
  • Must be employed/self-employed or having a business unit and staying abroad at least for 2 years.
  • Must have minimum gross annual income equivalent to Rs. Five lacs per annum.

Bank of Baroda Home Loan Age Limit

Minimum age must be 21 years. Age of the borrower plus repayment period should not be beyond retirement age or 65 years whichever is earlier.

Bank of Baroda Home Loan Margin
  • For purchase of new/ old dwelling unit or Construction of the dwelling unit: 20%
  • For purchase of plot: 20% CFor repairs / renovations / extension in existing home: 20% of the project cost.
Bank of Baroda Home Loan Security
  • Equitable / legal mortgage of the property constructed / purchased or property to be renovated / repaired etc.
  • Personal guarantee of spouse / family member, residing in India. In case the spouse is also residing abroad, personal guarantee of one / two persons resident in India shall be obtained.
Bank of Baroda Home Loan Repayment Period
  • Maximum 15 years including moratorium
  • Payment to be remitted from abroad through normal banking channels or out of funds in NRE/ NRO accounts.
  • Post-dated cheques drawn on NRE/ NRO account of the borrower are to be obtained.
  • Close relatives of the borrower in India may also repay the installments of such loans, interest and other charges, if any, through their bank account directly to the borrower’s loan account.

Comments (2)

  1. Rahul Vats

    Bank of Baroda Home Loan Retail Loan Festive Dhamaka (1/05/2013 to 31/05/2013)

    http://www.bankofbaroda.com/int_adv.asp#homeloan (click for Interest Rate)

    http://www.bankofbaroda.com/home-loan-step1.asp (click to Apply Online)

  2. Vimal Singh

    Baroda Home Loan to Individuals / NRIs / PIOs (W.E.F 10.09.2012)

    Repayment Period: Upto 5 years
    Up to Rs. 30 Lacs: 0.25% above Base Rate
    Above Rs. 30 Lacs and below Rs. 75 Lacs: 1.00% above Base Rate
    75 Lacs and above: Base Rate + 1.25%

    Repayment Period: Over 5 years & up to 15 years
    Up to Rs. 30 Lacs: 0.50% above Base Rate
    Above Rs. 30 Lacs and below Rs. 75 Lacs: 1.25% above Base Rate
    75 Lacs and above: Base Rate +1.50%

    Repayment Period: Over 15 years & up to 30 yrs
    Up to Rs. 30 Lacs: 0.75% above Base Rate
    Above Rs. 30 Lacs and below Rs. 75 Lacs: 1.50% above Base Rate
    75 Lacs and above: Base Rate +1.75%

    Retail Loan Festive Dhamaka

    HOME LOAN (W.E.F. 31.01.2013 to 31.03.2013)

    100% waiver of unified processing charges
    Concession in interest rate by 25bps to 150 bps on different tenures / amount
    Reduced interest rates are applicable on Home Loan Accounts sanctioned during the Campaign Period only.

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