Bank of Baroda Home Loan: Interest Rate 2022, Apply, Eligibility

Table of Content

• Home Loan Rates by Top Banks
• Loan
• What is the maximum limit of a Bank of Baroda housing loan?

Mutual Fund investments are subject to market risks, read all scheme related documents carefully. The minimum monthly salary to apply for a home loan in Bank of Baroda is Rs 20,000. The interest rates for a Home Loan through Bank of Baroda depend on whether you’re a salaried employee or self-employed individual and what type of interest rate package and the scheme you have chosen. You can get Bank of Baroda home loan for any home related purpose! Be it buying, constructing or renovating an existing residential property.

Do check the statement regularly so that you can budget well to pay off the loan in a hassle-free manner. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent. G. I understand that in order to deliver the product to me, I hereby authorize Wishfin, to obtain my Consumer Credit Information from TUCL.

Home Loan Rates by Top Banks

To check your eligibility you can avail "Baroda Pre-Approved Home Loan" wherein Bank provides in-principle approval prior to identification of house/flat/plot. The "in-principle" sanction letter will give eligible loan amount as per prevailing interest rate and other existing guidelines. Certified copies of Balance Sheets and Profit and Loss accounts, IT acknowledgments, advance tax challans (for both company/firm and personal account) for the last three years in case of self-employed applicants. Bank finance Home Loan for purchase of house / flat, construction / repair / renovation of house, purchase of plot and construction of house thereon. Applicant needs to submit duly filled in Application Form along with other related documents as per requirement of the Bank. Bank assess the application based on Bank's / RBI's guidelines and takes decision.

Maximum loan tenure of up-to 30 years with subsidy up-to 20 years of the loan tenure. Maximum income to avail the benefits of this scheme is maximum up-to Rs.18 Lakhs p.a. Top-up loans can be applied for a maximum 5 times during the tenure of the home loan. Top-up tenure will be the outstanding tenure of the existing home loan. Bank Of Baroda home loan top up can be availed up-to maximum of 5 times during the BOB home loan tenure.

Loan

All existing home loan borrowers including NRIs/PIOs, Staff and Ex-Staff members with standard asset classification are eligible for this home loan. IServefinancial, offers special schemes, benefits and other advantages to its customers. A borrower applying for a Bank of Baroda Home Loan takeover scheme must have a clear repayment track on the proposed home loan and other loans. Should not have cheque bounces during last 12 months of the loan. Higher Tenure - tenure up to 30 years for salaried and self-employed loan applicants, subject to age eligibility.

With this product, you can takeover home loans from other Banks/NBFCs/HFCs/Fls etc. Both resident and non-resident Indians are eligible for this home loan product. Both resident and non-resident Indians are eligible for this home loan.

What is the maximum limit of a Bank of Baroda housing loan?

The Bank of Baroda in collaboration with M/s.India First Life Insurance Co. has tie-up arrangements for providing life insurance cover to home loan borrowers. This is, however, an optional scheme of life insurance at the cost of the borrower which could be funded by the bank when sanctioning the loan and is recoverable with the EMIs of the Loan. If you have a running home loan from another bank and request for takeover, we provide several exclusive benefits such as low interest rates and processing charges. With this type of home loan, the Bank of Baroda offers its customers the opportunity to transfer their existing home loan balance from any other bank to the Bank Of Baroda. You can apply for BOB Home loan online on the bank’s official website and by then filling the home loan application form. You can also download the BOB application and apply online through the app.

Income tax benefit on home loan is available on both interest paid as well as on the principal amount repaid by the borrower. Processing charges are waived 100% on all Bank of Baroda’s home loans and top-up loans. Maximum carpet areas of the house under PMAY Bank Of Barodascheme is up-to 200 sq meter i.e. 2153 sq. Tenure for guarantee cover is maximum up-to 25 years or loan termination date whichever is earlier.

The processing fee for loan up to Rs.50 lakhs is 0.50% of the loan amount and for loan above Rs. 50 lakhs is 0.25% of the loan amount. The maximum loan amount is Rs. 1 crore for semi-urban and rural areas and Rs.5 crores to Rs.10 crores for metro cities. Simple one step application form and process for applying and hassle free approval.

It has a clean interface, and all you need to do is provide details about your existing Home Loan and the new one you are seeking from Bank of Baroda. For the existing Home Loan, you have to input information about the outstanding amount, existing EMI, and tenure. You must also fill in the tenure and interest rate for the Bank of Baroda Home Loan. Within a few seconds, you will see the results on your screen.

BOB home loan process is one of the safest, easiest, and comprehensive methods to apply for a housing loan. If not salaried, then the applicant should be employed or rather, self-employed, owning a business and has stayed abroad for a minimum of 2 years. It is a rate of interest at which the bank lends funds to the borrower for buying / constructing a house / buying flat. Loan amount is determined on the basis of the repaying capacity of the applicant/s.

Baroda home Loans offer you the flexibility for acquiring ready to occupy house/flat from developers or by choosing re- sale properties and takeover of from other banks. Special Current Account Special Current Account is an ideal for a salaried person who requires cheque book facility for the purpose of payment of rent, loans etc. This is one of the most basic and flexible deposit options, allowing transaction without limiting the numbers. Current Deposits product is ideal for Individuals, Business firm, companies, institutions and other corporate bodies etc. who need banking facility more frequently. 18 month moratorium period for under construction houses and building up to 7th floor and thereafter 6 months additional moratorium per floor subject to a maximum moratorium of 36 months.

Bank of Baroda is presently offering one of the lowest interest rates on home loans. Read this article to know details of Bank of Baroda home loan to analyze whether how can you take a housing loan. A home is one of the first things people think of buying, in their youth – how they want it to look like, what are things they will have in the house, etc. But as they get older, they realize that to make this dream of theirs come true they need money which is not easy to save with the current economy and inflation crisis. It is to help this goal of people, to buy their dream homes that Bank of Baroda offershome loans. Use Loanfasttrack’s Bank Of Baroda Home Loan EMI calculator to calculate your EMI outgo.