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Bank of Baroda is an Indian public sector bank headquartered in Vadodara, Gujarat, Bank of Baroda is the second largest public sector bank in India Bank of Baroda is a multinational financial service provider operating under the Government of India, Bank of Baroda is one of the best banks offering easy home loans to their customers, providing a customer-friendly experience with the bank to the person looking for a multi-purpose home loan provided by Bank of Baroda.
Bank of Baroda aims to provide the desired product to its customer, The interest rate on housing loans is very low without compromising on the overall margin of the loan, read this article to know the rates and other details as follows.
Bank of Baroda Home Loan
A home loan is one of the easiest ways to own an employee or self-employed residence, this home loan allows you to repay the amount systematically and in month-to-month installments, Bank of Baroda offers a variety of home loan plans to its customers, the bank offers a variety of home loan plans that cater to different needs at attractive interest rates.
Bank of Baroda Home Loan Eligibility
Bank of Baroda home loan eligibility depends on criteria ranging from the age of the applicant to their salary and credit score, If you match the eligibility criteria especially CIBIL score and your financial status should be better, CIBIL score of 650 or above is the minimum requirement along with Bank of Baroda regular source of income, BOB Home Loan has a maximum repayment period of 30 years with a moratorium period of up to 3 years.
| Age Limit | Applicant Minimum Age 21 Years Maximum Age 70 years Co-Applicant Age 18 Years |
| Employment Type | Salaried individuals Non-salaried business people or professionals |
| Work Experience for Salaried | Minimum period of 1 year |
| Work Experience for Non-Salaried | Minimum period of 2 years |
| Loan-to-Value (LTV) Ratio | 75% to 90% |
BOB Home Loan Eligibility Based on Credit Score
Bank of Baroda’s home loan eligibility depends on the applicant’s credit score and several factors, The higher your credit score, the lower your home loan interest rate, Home loan interest rates are linked to the Baroda Repo Linked Lending Rate (BRLLR) and vary with the applicant’s credit score, here are the ratings for various credit scores.
| Rating | Credit Score |
| Good | 750 and above |
| Average | 600 – 750 |
| Poor | Below 600 |
Documents Required for BOB Home Loan
To get your Bank of Baroda Home Loan approved without any hurdles, you must provide all the Bank of Baroda Home Loan Required Documents mentioned in the Home Loan Application Form correctly, You may also need to provide some other documents based on your job or business, type of property, etc. So, do you have your documents ready, Check out our Home Loan Required Documents List given below.
Identity Proof Documents
- PAN
- Aadhaar Card
- Passport
- Driver’s License
- Voter ID Card
Age Proof Documents
- PAN
- Aadhaar Card
- Passport
- Driver’s License
- Birth Certificate
Address Proof
- Aadhaar Card
- Passport
- Driver’s License
- Bank Passbook
- Utility Bills
- Rental Agreement
BOB Home Loan Documents Required for Salaried Person
While you as an employee have to provide all the housing loan documents mentioned below, you also have to provide some additional, income-specific documents, which are as follows.
- A letter from your employer confirming your employment status and duration of your employment.
- Your last 3 to 6 months salary slips.
- IT returns filed by you in last three years.
- Investment proofs (shares, fixed deposits), if any.
- Account statement showing salary credit.
BOB Home Loan Documents Required for Salaried Person
As a self-employed person you have to provide all the housing loan documents mentioned below, you also have to provide some additional, income-specific documents, some additional documents to verify, which are as follows.
- Applicant’s business address proof.
- Documents of income tax returns for last three years.
- A company’s balance sheet, profit and loss statements.
- Their business license documents.
- Copies of registration certification for shops, factories, clinics, offices etc.
- Bank account statement of the business.
Bank of Baroda Home Loan Calculator
Are you trying to build your dream home, going for a home loan for a home, If not properly planned about home purchase and bank home loan, it will lead to more loss instead of property, nowadays buying own house is very expensive task so proper planning is required first.
A home loan is a loan taken from any bank to buy a house, the EMI calculated for this loan is called Home Loan EMI, EMI stands for Equalized Monthly Installments, as a home loan borrower you have to pay a fixed amount to the lender on a fixed date every month.
Using the Bank of Baroda Home Loan Calculator you can calculate your EMI within a minute, flexible repayment terms over the loan tenure and know the pre-determined EMI amount, Click this link Home Loan EMI Calculator helps the borrower to calculate the monthly installments to be paid with respect to the total amount availed.
Turn to the BOB Home Loan Calculator to guide you through the systematic process of home loan repayment, Using the home loan EMI calculator, you can figure out what your EMI will be for your Bank of Baroda housing loan, Enter some details like loan amount, suitable interest rate, tenure and processing fee, the automated tool calculates your EMI based on the inputs supplied and displays a breakdown of the total amount payable over the life of the loan.
Baroda Home Loan Processing Fee & Charges
| Baroda Home Loan | Loans upto Rs. 20/- lacs : 0.35%. |
| Baroda Home Loan | Loans above Rs. 20/- lacs : 0.40% |
| Baroda Home Loan Details Click Here | Maximum : Rs. 15000/- (service tax (ST) to be recovered separately in addition to above) 0.10% maximum Rs. 5000/- +ST. |
Baroda Home Loan Interest 2024
Most of us dream of buying our own home, Bank of Baroda offers the lowest interest rate on home loan in India to help you fulfill your dreams of owning your own home or apartment, If you are thinking of buying a home and need a home loan to finance the purchase, take advantage of these promotions for smooth and affordable financing.
It is very important to know the bank interest rate when you apply for home loans, Baroda home loan interest rate affects how much home loan you take and the amount of EMI you have to pay, so it is better to keep the interest rate in mind whenever you apply for home loan, here is the information related to Baroda home loan interest.
| Baroda Home Loan | 9.15% – 10.60% p.a. |
| Baroda Home Improvement Loan | 9.15% – 10.60% p.a. |
| Baroda Home Loan Advantage (up to Rs.75 lakh) | 9.15% – 10.60% p.a. |
| Baroda Home Loan Advantage (above Rs.75 lakh) | 9.15% to 10.85% p.a. |
| Baroda CRE Home Loan | 9.40% to 10.85% p.a. |
| Baroda CRE Home Loan (Advantage) (up to Rs.75 lakh) | 9.40% to 10.85% p.a. |
| Baroda CRE Home Loan (Advantage) (above Rs.75 lakh) | 9.60% to 11.10% p.a. |
| Baroda Top Up Loan (Resident/NRIs/PIOs) | Rate of interest on linked home loan (based on BRLLR) + 0.60% + 0.25% (Strategic Premium) |
NOTE – Bank of Baroda home loan interest rates vary according to the bank’s discretion, the information given here is only the current interest rates given by the bank, when you want to apply for a home loan in the bank, you should visit https://www.bankofbaroda.in/banking-mantra/loans-borrowings/articles/bank-of-baroda-lowers-home-loan-interest-rate the bank’s official website and confirm.