Bank of Baroda Home loan

Home Bank of Baroda Bank of Baroda Home loan
loadingApply for Home Loan Starting @ 7.95%*
loading

Get BOB Home Loan @ Lowest Rates

  • Interest Rate: 8.15% onwards
  • Loan Amount: Up to Rs. 10 Crore
  • Loan Tenure: Up to 30 years
  • Processing Fees: Up to0.50%

Apply Now to Get Best Home Loan Offer

Error: Please select loan amount
Digit Only
Note: It will help you to get best loan offers
Error: Please enter valid Rate of Interest
Digit Only
Note: Income is required to check your loan amount eligibility.
Error: Please valid monthly income
Error: Please select current city
0 / 10 Digits +91
Note: We may verify this number later using OTP.
Error: Please enter valid Mobile Number
0 / 6 Digits
Error: This is mandatory. We need to check availability of service in your area
City: Delhi
Error: Enter a valid Full Name
Error: Enter a valid Email Address
Error: Date of Birth is required
Error: PAN is required

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :23/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

CIBIL TERMS AND
CONDITIONS

To,
TransUnion CIBIL Limited
[Formerly known as Credit Information Bureau (India) Limited]
One Indiabulls building ,Unit No 1901 – 1905,
19th Floor, Tower 2A-2B, Jupiter Mill compound,
Senapati Bapat Marg, Lower Parel, Mumbai 400 013

Sub: Grant of Consent

Dear Sirs,

In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Paisabazaar (referred to as the “Company”) and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:

A. The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.

B. I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.

C. I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.

D. I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL

E. I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company.

F. I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Paisabazaar authorizing Paisabazaar to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Paisabazaar to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Paisabazaar to obtain my Consumer Credit Information.

G. I understand that in order to deliver the product to me, I hereby authorize Paisabazaar, to obtain my Consumer Credit Information from TUCL.

H. By submitting this registration form, I understand that I am providing an express adhoc one-time written instructions for Paisabazaar to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Paisabazaar account. I further authorize Paisabazaar to retain a copy of my information for use in accordance with the terms of use of this service, Paisabazaar’s Terms of Use and Privacy Policy.

I. I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

J. I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Company . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.

K. I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.

Yours faithfully,
Name :

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :23/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

EQUIFAX TERMS AND
CONDITIONS

I Mr./Ms. -------------------- ---------------------residing at ------------------------ ---------------------------------------- do hereby authorise Paisabazaar Team ,to do all acts on my behalf as may be necessary including to execute/sign application(s), make payment of applicable fees* and generally to all other acts as may be necessary to receive, on my behalf and at my request, my Credit Information Report (CIR) from Equifax Credit Information Services Private Limited("Equifax") at the following address/email id:

I hereby confirm that all the powers hereby conferred may be exercised by officer(s) or manager(s) / agent(s) / employees of the Paisabazaar who is duly authorized by the Paisabazaar.

I hereby confirm, agree, undertake and accept that I shall at all times be solely responsible for all the above actions and omissions of the Paisabazaar shall be binding on me as though such actions had been carried out by me directly. I further confirm that my CIR shall be used only for the purpose as mentioned in the attached standard terms and conditions and I shall be solely liable for, and indemnify and hold harmless Equifax for and against, any and all third party claims or damages or proceedings of any kind, arising from or in connection with (a) any misrepresentations, incorrect information or omission of any critical information in my application, or (b) furnishing my CIR based on this authorization letter, and shall not at any time hold Equifax or its affiliates and their respective officers, directors, employees or representatives liable in this respect.

I hereby also confirm that I have only appointed Paisabazaar to be my authorized agent/representative for collection of my CIR.

I undertake to keep Equifax intimated and informed at all times, of any renewals or termination of the authorization to Paisabazaar or any amendments, modifications or changes in the terms governing the obligations or my relationship with Paisabazaar.

I shall at all times co-operate with Equifax and execute and deliver to Equifax such instruments and documents and take such other actions as may be required by Equifax from time to time in connection with this authority letter.

By signing on this authorization letter, I hereby acknowledge and accept the Standard Terms and Conditions mentioned above.

Date : 23/01/2020

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :23/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

EXPERIAN TERMS AND
CONDITIONS

YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM EXPERIAN.

YOU HEREBY IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY EXPERIAN TO YOU AND PAISABAZAAR AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU HEREBY ALSO AGREE AND ACKNOWLEDGE THAT FOR PAISABAZAAR TO SERVICE YOU AS A CUSTOMER, THE CREDIT INFORMATION SHALL BE SHARED BY EXPERIAN WITH YOU AND PAISABAZAAR ON A MONTHLY BASIS. YOU FURTHER ALSO AGREE AND CONSENT TO RECEIVE SUCH CREDIT INFORMATION DIRECTLY FROM EXPERIAN AND ALSO THROUGH YOUR PAISABAZAAR ACCOUNT AS PER YOUR INDEPENDENT REGISTRATION WITH PAISABAZAAR.

Please read the Terms and Conditions of this document carefully before accepting. By clicking on the "I ACCEPT" button below, you are expressly agreeing to access the Experian Credit Information Report and Credit Score (as defined in the Important Information Section below) (together referred as "Credit Information") and share a copy of the Credit Information with Paisabazaar in the "as is" format. Please click on the link below to read and understand the Important Information section below.

** This document is an electronic record in terms of the Information Technology Act, 2000 and Rules made there under, and the amended provisions pertaining to electronic records.

Information Collection, Use, Confidentiality, No-Disclosure and Data Purging

PAISABAZAAR/ We/ Us can only access your Credit Information as your authorized representative and we shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from us on the Website. We shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

We shall protect and keep confidential the Credit information both online and offline and use best in class security measures in line with applicable laws. The Credit Information shared by You, or received on your behalf shall be destroyed, purged, erased promptly upon the earlier of: (i) your written request to terminate this relationship with Paisabazaar (ii) the completion of provision of the Services by us to you.

Governing Law and Jurisdiction The relationship between you and the Parties shall be governed by laws of India and all claims or disputes arising there from shall be subject to the exclusive jurisdiction of the courts of [Mumbai].

Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
"Credit Information Report" means the credit information / scores / aggregates / variables or reports which shall be generated by Experian;
"Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by Experian.
"CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
PLEASE READ THE ABOVE MENTIONED IMPORTANT INFORMATION AND CLICK ON "ACCEPT" FOLLOWED BY THE LINK BELOW TO COMPLETE THE AUTHORISATION PROCESS FOR SHARING OF YOUR CREDIT INFORMATION BY EXPERIAN WITH YOU AND PAISABAZAAR, IN ITS CAPACITY AS YOUR AUTHORISED REPRESENTATIVE.
BY CLICKING "ACCEPT" YOU AGREE AND ACCEPT THE DISCLAIMERS AND TERMS AND CONDITIONS SET OUT HEREIN. THE TERMS AND CONDITIONS MENTIONED HEREIN MAY CHANGE IN ORDER TO COMPLY WITH GOVERNING LAWS OF THE COUNTRY AND THE CONSUMER SHALL BE BOUND TO ANY CHANGES TO THIS AGREEMENT

Name :
Date : 23/01/2020

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :23/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

CRIF HIGH MARK TERMS
AND CONDITIONS

This End User Agreement (the "Agreement") is made between you (the "User" or "You") and Paisabazaar Marketing and Consulting Pvt Ltd ("PaisaBazaar"), a private limited company having its registered office at Plot No 119, Sector-44, Gurgaon-122001, Haryana ("PAISABAZAAR", "Us" or "We", which term shall include its successors and permitted assigns). The User and PAISABAZAAR shall be collectively referred to as the "Parties" and individually as a "Party".

YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM CRIF HIGH MARK. BY EXECUTING THIS AGREEMENT / CONSENT FORM, YOU ARE EXPRESSLY AGREEING TO ACCESS THE CRIF HIGH MARK CREDIT INFORMATION REPORT AND CREDIT SCORE, AGGREGATE SCORES, INFERENCES, REFERENCES AND DETAILS (AS DEFINED BELOW)(TOGETHER REFERRED AS "CREDIT INFORMATION"). YOU HEREBY ALSO IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY CRIF HIGH MARK TO YOU AND PAISABAZAAR BY USING CRIF HIGH MARK TOOLS, ALGORITHMS AND DEVICES AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU ALSO ACKNOWLEDGE THAT YOU SHALL NOT RAISE ANY CLAIM OR HOLD LIABLE CRIF HIGH MARK CREDIT INFORMATION SERVICES PRIVATE LIMITED IN RELATION TO YOUR CREDIT INFORMATION REPORT AND CREDIT SCORE PROVIDED OR TO BE PROVIDED BY CRIF HIGH MARK TO PAISABAZAAR.

Terms and Conditions: Information Collection, Use, Confidentiality, No-Disclosure and Data Purging PAISABAZAAR shall access your Credit Information as your authorized representative and PAISABAZAAR shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from PAISABAZAAR. PAISABAZAAR shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

The Parties agree to protect and keep confidential the Credit Information both online and offline. The Credit Information shared by you, or received on by us on your behalf shall be destroyed, purged, erased promptly upon request from the consumer or the consumer withdrawing the consent to retain such credit information / reports by deleting/deactivating the consumers account with Paisabazaar.

Governing Law and Jurisdiction Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
" Business Day" means a day (other than a public holiday) on which banks are open for general business in Gurgaon and Mumbai.
" Credit Information Report" means the credit information / scores/ aggregates / variables / inferences or reports which shall be generated by CRIF High Mark;
" Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by CRIF High Mark.
" CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
IN CASE THERE IS ANY DISCREPANCY OR INABILITY IN COMPLETION OF ONLINE AUTHENTICATION, PLEASE SUBMIT YOUR SELF ATTESTED KYC DOCUMENTATION IN SCANNED COPIES FOR SHARING OF YOUR CREDIT INFORMATION BY CRIF HIGH MARK WITH YOU AND PAISABAZAAR (YOUR AUTHORISED REPRESENTATIVE).
ONLINE SUBMISSION - DOES NOT REQUIRE SIGNATURE AND EXECUTION"

Name :
Date :23/01/2020

More

There is some technical issue. Please try again later.

By submitting this form, I agree to Terms of Use

*Offers are from Paisabazaar's partner Banks & NBFCs.

OTP Verification

Verify your mobile

Please enter the OTP we sent via SMS

Didn’t receive your OTP? Send it again
हिंदी में पढ़े
Updated: 06-01-2020 09:25:34 AM
Bank of Baroda Home Loan 2020
Interest Rate8.15% onwards
(Compare Other Home Loan Rates)
Loan AmountUp to Rs. 10 Crore
Loan TenureUp to 30 years
Processing Charges0.25% – 0.50% of loan amount + GST

Note: The figures given in the table are indicative and are subject to change as per any change in Bank of Baroda’s or RBI’s policy.

Bank of Baroda home loan can be used for home purchase, plot purchase, home construction and home renovation. The bank’s home loan interest rate starts from 8.15% p.a., which is one of the most attractive home loan rates in India. It offers longer loan tenure, stretching up to 30 years, and low processing fees, ranging between 0.25% – 0.50%, of the loan amount. The loan can be availed by both salaried and self-employed individuals.

Table of Contents:

Bank of Baroda Home Loan - Features & Benefits
Bank of Baroda Home Loan Interest Rates
Bank of Baroda Home Loan Fees & Charges
Bank of Baroda Home Loan EMI Calculator
Bank of Baroda Home Loan Eligibility
Bank of Baroda Home Loan Documents Required
Bank of Baroda Home Loan Schemes
How to Apply for Bank of Baroda Home Loan
Bank of Baroda Customer Care
Bank of Baroda Home Loan FAQs
News about Bank of Baroda Home Loan

Bank of Baroda Home Loan - Features & Benefits

  • A wide variety of schemes to suit customer’s home related fund requirements
  • Interest rates linked to repo rate starts from 8.15% p.a.
  • Loan amount can reach as high as Rs. 10 crore
  • Loan tenure extending up to 30 years
  • Free credit card and concession of 0.25% on car loans
  • Free accident insurance with every home loan
  • No prepayment charges on floating rate home loans
  • Top up loan facility of up to five times during the loan tenure
  • Multiple loan repayment options for customers’ convenience

Bank of Baroda Home Loan Interest Rates

Bank of Baroda Home Loan interest rate is linked to Baroda Repo Linked Lending Rate (BRLLR) w.e.f. 01.10.2019. Any change in the repo rate will lead to a change in the bank’s home loan rates. Currently, RBI’s repo rate stands at 5.15%. And the BRLLR stands at 8.15%. The applicable BLLR-linked home loan interest rates are given as below:

Bank of Baroda Home Loan SchemesRepo Rate-Linked Interest Rates
Bank of Baroda Home Loan8.15% – 9.15%
Bank of Baroda Home Loan Advantage8.15% – 9.40%
Home Improvement Loan8.15% – 9.15%
Bank of Baroda Top Up Loan8.90% – 9.90%
Baroda Home Loan Takeover Scheme8.45% – 9.85%

For existing Bank of Baroda Home Loan customers, the current 1 Year MCLR is 8.30%. The applicable MCLR linked home loan interest rates are given as below:

Bank of Baroda Home Loan SchemesMCLR-Linked Interest Rates
Bank of Baroda Home Loan8.30% – 9.30%
Bank of Baroda Home Loan AdvantageUp to Rs. 75 Lakh: 8.30% onwards
Above Rs. 75 Lakh: 8.55% onwards
Home Improvement Loan8.30% – 9.30%
Bank of Baroda Top Up Loan9.05% onwards

Note: The interest rate for Bank of Baroda home loan depends on customer’s credit profile, including repayment capacity, credit history, etc. Also, on the above rates, the Risk Premium of 0.05% will remain applicable as per extant guidelines of the bank.

Also Check: Home Loan Offers from Top Banks

Bank of Baroda Home Loan Fees & Charges

There are few other charges associated with Bank of Baroda housing loans. Some of these charges are given below:

Processing fees*Up to Rs. 50 Lakh: 0.50% of loan amount (Min Rs. Rs. 8,500 (Upfront) & Max. Rs. 15,000)
Above Rs. 50 Lakh: 0.25% of loan amount (Min Rs. Rs. 8,500 (Upfront) & Max. Rs. 25,000)
Special Offer: Full waiver on unified processing charges for Home/Top Up Loan Borrowers, subject to recovery of out of pocket (upfront charges) expenses.
Offer valid from 24.07.2019 to 31.03.2020
Modification chargesUp to Rs. 1 Crore: Rs. 5,000
Above Rs. 1 Crore & up to Rs. 10 Crore: Rs. 15,000
Above Rs. 10 Crore: Rs. 25,000
Deviation chargesRs. 1,500 per deviation (Max. Rs. 5,000)

*The above charges are unified processing charges which includes inspection, valuation and legal fees
Note: The figures given in the table are indicative and are subject to change without prior information. GST might be applicable on some of the above charges.

Bank of Baroda Home Loan EMI Calculator

Buying a home can cost you a fortune; therefore, you have home loans. But repaying such a huge amount requires careful planning. To do the same, use Paisabazaar’s Home Loan EMI Calculator. The loan calculator gives an estimate of monthly instalments to be paid towards loan repayment, helping you to plan your budget accordingly. It is easy to use, free of cost and gives accurate results. To calculate your home loan EMI, click here.

Bank of Baroda Housing loan EMI depends on loan amount, loan tenure and interest rate. The table below shows how home loan EMIs change for different loan amount and loan tenure. The home loan interest rate considered for the calculation is 8.10% p.a.

Loan AmountEMIs as per Different Loan Tenures
15 years20 years30 years
Rs. 40 lakhRs. 38,457Rs. 33,707Rs. 29,630
Rs. 60 lakhRs. 57,686Rs. 50,560Rs. 44,445
Rs. 80 lakhRs. 76,915Rs. 67,414Rs. 59,260
Rs. 1 croreRs. 96,143Rs. 84,267Rs. 74,075

In the table above, one can notice that home loan EMIs decrease as the loan tenure increases. But the increase in tenure also increases the total interest payout.

Bank of Baroda Home Loan Eligibility

To get Bank of Baroda home loan, individuals should be eligible for it. Check Bank of Baroda home loan eligibility given below:

Borrower Profile
  • Indian Residents/Non-Resident Indians (NRIs) holding Indian passport or Persons of Indian origin (PIOs) holding foreign passport or Overseas Citizens of India (OCI).
  • Staff members (availing under Public scheme)
  • HUFs are not eligible
Employment TypeSalaried/Self Employed
Age Limit21 to 70 years
Income Criteria for Resident Indians
  • Applicant/co-applicant/s (whose income are considered for eligibility) should be employed/engaged in business / profession for at least 1 year (for salaried) and/or 2 years (for non-salaried)
  • Break in service, if any, can be allowed up to 3 months
Income Criteria for NRI/PIO/OCI
  • Applicant/co-applicant/s (whose income are considered for eligibility) should have a regular job abroad in a reputed Indian/foreign company, organisation or government department holding a valid job contract/work permit for the minimum past 2 years

OR

 Should be employed / self-employed or have a business unit and stay abroad for at least 2 years

  • Applicant / co-applicant/s (whose income is considered for eligibility) should have a minimum gross annual income equivalent to Rs. 5 lakh per annum
    If the applicant/co-applicant/s, whose income is taken into account for eligibility includes NRI, minimum Gross Annual Income of Rs. 5 Lakh (income of applicant / co-applicant together) can be considered

Eligibility Criteria for Co-Applicants

To improve Bank of Baroda home loan eligibility, applicants can add earning family members, such as their spouse, parents, children and siblings, as co-applicants.

Repayment Capacity of Salaried

Repayment capacity is an important factor on the basis of which lenders sanction a loan. The borrowers should be able to repay the borrowed amount on time. Your repayment capacity is calculated on the basis of your in-hand salary and monthly obligations. As per Bank of Baroda’s rules and policies, to avail a home loan, the total deductions, including the proposed EMI, should not exceed the following percentage:

  • Gross Monthly Income less than Rs. 20,000: 50%
  • Gross Monthly Income Rs. 20,000 and above but less than Rs. 50,000: 60%
  • Gross Monthly Income Rs. 50,000 and above but less than Rs. 2 lakh: 65%
  • Gross Monthly Income Rs. 2 lakh and above but less than Rs. 5 lakh: 70%
  • Gross Monthly Income Rs. 5 lakh and above: 75%

Repayment Capacity of Others

Average Gross Annual Income (for last 2 years) up to Rs. 6 lakh: 70%
Average Gross Annual Income (for last 2 years) more than Rs. 6 lakh: 80%

Bank of Baroda Home Loan Documents Required

Common documents required to apply for Bank of Baroda home loans are:

  • Duly filled in application form (with photograph of the applicant)
  • Proof of Residence (Aadhaar Card, Voter’s ID Card, Passport, Driving License, Ration Card, etc.)
  • Proof of Age (PAN card, Aadhaar Card, Voter’s ID Card, Birth Certificate, Passport, Driving License, etc.)
  • A copy of approved plan and sanction letter from local civic authority
  • Copy of NA permission
  • Salary certificate(s) from one or two guarantor(s)
  • If the guarantor has a business, then copies of Income Tax Returns or Assessment Orders for the last three years
  • Bank passbook statements of past two years
  • In case of salaried applicants, latest salary slip/statement showing all deductions
  • In case of self-employed applicants, CA-certified copies of Balance Sheets and Profit and Loss Accounts, I-T acknowledgments, Advance Tax Challans (for both company/firm and personal account) for the last three years
  • In case of self-employed applicants, Memorandum/Articles of Association for Companies, Partnership Deeds for Firms and a brief Profile of your Company/Firm

Check: Complete Checklist of Required BOB Home Loan Documents 

Additional documents for Bank of Baroda home loan application are:

In case of Purchase from a Builder
  • A copy of agreement for sale
  • A copy of registration receipt
  • A copy of sanctioned plan and sanction letter of the competent authorities
  • A copy of NA permission/ULC order
  • Copies of receipts of payments already made
  • No Objection Certificate (NOC) from builders in our format
In case of Direct Allotment in a Co-operative Housing Society
  • Allotment letter
  • Share certificate, Society registration certificate
  • A copy of sale/lease deed in favour of the society
  • NOC from society in our format
  • Possession letter in original
In Case of Resale
  • A copy of all previous vendors agreements duly stamped and registered and the registration receipts (original to be given before disbursement)
  • NOC from Society/Builder in our format
  • Original Share Certificate

Check Also: Detailed List of Required Home Loan Documents 

Bank of Baroda Home Loan Schemes

Different individuals have different home loan requirements. Therefore, Bank of Baroda offers multiple housing loan schemes to cater to varied requirements of its customers. The details of some are given below:

Bank of Baroda Home LoanBank of Baroda Home Loan AdvantageBank of Baroda Pre-Approved Home Loan
Bank of Baroda Home Improvement LoanBaroda Top Up LoanBaroda Home Loan Takeover Scheme
Bank of Baroda Pradhan Mantri Awas Yojana

Bank of Baroda Home Loan

Home loans by Bank of Baroda can be availed for purchasing a house or plot, constructing a house on an existing plot or extending your existing residence. Both Resident and Non-Resident Indians can apply for the loan.

Eligible ProfilesSalaried and Self-employed Individuals
Loan AmountUp to Rs. 10 crore
Interest Rate8.10% onwards
Loan TenureUp to 30 years

Bank of Baroda Home Loan Advantage

Bank of Baroda Home Loan Advantage is a type of overdraft facility wherein your home loan sanctioned will be linked to your Bank of Baroda Savings Account. Home loan interest will not be levied on the amount deposited in the savings account. You can deposit as much amount as you want in the linked savings bank account and earn savings interest on it. At the end of the day, amount available in the linked savings account will be counted for credit in the home loan account. As a result, your home loan interest amount will reduce to the extent of daily outstanding credit balance in the savings account. The balance in the linked savings bank account can also be withdrawn anytime. Both Resident and Non-Resident Indians can apply for the loan, subject to a few conditions.

Eligible ProfilesSalaried and Self-employed Individuals
Loan AmountUp to Rs. 10 crore
Interest RateUp to Rs. 75.00 Lakh: 8.10% – 9.10%
Above Rs. 75.00 Lakh: 8.35% – 9.35%
Loan TenureUp to 30 years
Work ExperienceSalaried & Self-Employed: At least 1 year in the same job or business
Non-Salaried: At least 2 years in current profession
Break in service, if any, can be allowed up to a period of 3 months

Bank of Baroda Pre-Approved Home Loan

  • Baroda PreApproved Home Loan provides in-principle approval to eligible customers prior to the identification of a specific house/flat/plot
  • The in-principle sanction letter will include eligible loan amount, which will be calculated as per prevailing home loan interest rates and other existing guidelines of home loan
  • The loan eligibility will be decided on the basis of customers’ income details as per existing guidelines of the loan scheme
  • The documents in support of income and repayment capacity (except property documents) will be required for issuing the pre-approved sanction letter
  • The in-principle approval will be valid for only four months from the date of issue
  • The property papers need to be submitted within the validity of Baroda Pre-Approved Home Loan
  • The processing charge applicable under the loan scheme is Rs. 7,500 + GST (upfront and non-refundable). Balance amount of unified processing charges as applicable to Home Loan only will be recovered after the sanction of loan.

Bank of Baroda Home Improvement Loan

Home renovations can be expensive, but Bank of Baroda’s Home Improvement Loan can help you with it. Both Resident and Non-resident Indians are eligible to apply for the loan.  You can avail the loan for all kinds of repairs and improvements. Under the loan scheme, you and your family also get a group credit life insurance cover because of which your family does not need to repay the loan up to the claim amount in case of your demise.

Eligible ProfilesSalaried and Self-employed Individuals
Loan AmountUp to Rs. 10 crore
Interest Rate8.10% – 9.10%
Loan TenureUp to 30 years

Baroda Top Up Loan

Baroda Top Up Loan is for Bank of Baroda’s existing home loan borrowers who have fund requirements over and above the borrowed loan amount. The loan can be used for any purpose other than speculation.

Eligible ProfilesSalaried and Self Employed Individuals
Loan AmountRs. 1 lakh to Rs. 2 crore
Interest Rate8.85% – 9.85%
Loan TenureUp to 30 years

Baroda Home Loan Takeover Scheme

Baroda Home Loan Takeover Scheme is home loan balance transfer. Under the scheme, the bank takes over the home loans from other Banks/HFCs/NBFCs/FIs, etc. Both Resident and Non-Resident Indians are eligible for takeover home loans.

Eligible ProfilesSalaried and Self-employed Individuals
Loan AmountRs. 1 lakh to Rs. 2 crore
Interest Rate8.40% – 9.80%
Loan TenureUp to 30 years

Baroda Home Loan for NRI

Baroda Home Loan for NRI is for all eligible Non-Resident Indians (NRIs), Overseas Citizens of India (OCIs) and Persons of Indian Origin (PIOs) who wish to buy a house in India. The loan can also be availed to buy a residential plot, construct a house, extend the existing house and home loan balance transfer.

Some of the benefits that the scheme offers are given below:

  • Free Credit Card (BOBCARD – complimentary for 1st) to all home loan borrowers (first borrower) with the loan limit of Rs. 2 lakh and above
  • A concession of 0.25% interest on car loans
  • Top up loan can be availed 5 times during loan period (Min. Rs.1 Lakh; Max. Rs. 2 Crore)
  • Close relatives of the applicant can be co-applicants with or without being a joint owner of the property
  • Free accidental insurance with every Home Loan

Pradhan Mantri Awas Yojana – Credit Linked Subsidy (PMAY-CLSS)

Pradhan Mantri Awas Yojana (PMAY) is a government scheme launched with the aim to provide “Housing for All” by 2022. Under Pradhan Mantri Awas Yojana – Urban (PMAY – URBAN), there is Credit Linked Subsidy Scheme (CLSS) – an interest subsidy given on home loans to all eligible individuals. Bank of Baroda extends the affordable housing benefits of PMAY through CLSS. The subsidy makes a home loan more affordable as it reduces the principal outstanding upfront, thus reducing the loan burden of borrowers. The benefits under PMAY – CLSS are subject to meeting the income criteria as per various categories defined under the scheme.

Learn More: What is Pradhan Mantri Awas Yojana?

PMAY-CLSS in a Nutshell
ParticularsEWSLIGMIG IMIG II
Household IncomeUp to Rs. 3 LakhRs. 3 – 6 LakhRs. 6 – 12 LakhRs. 12 – 18 Lakh
Interest Subsidy6.50%6.50%4.00%3.00%
Eligible Loan Amount for Subsidy CalculationUp to 6 LakhUp to 6 LakhUp to 9 LakhUp to 12 Lakh
Maximum SubsidyRs. 2,67,280Rs. 2,67,280Rs. 2,35,068Rs. 2,30,156
Maximum Loan Tenure20 yrs.20 yrs.20 yrs.20 yrs.
Maximum Carpet Area30 sq. m.60 sq. m.160 sq. m.200 sq. m.
Discount Rate for NPV Calculation of Interest Subsidy9.00%9.00%9.00%9.00%
Application of scheme on existing home loans sanctioned on or after17.06.201517.06.201501.01.201701.01.2017
Woman Ownership/Co-ownershipMandatory for a new house. Not mandatory for an existing propertyNot MandatoryNot Mandatory

Also Check: How to Apply for Pradhan Mantri Awas Yojana

How to Apply for Bank of Baroda Home Loan

You can apply for Bank of Baroda Home Loan online at Paisabazaar.com by following these steps:

  • Click here to begin with the home loan application process
  • Fill out the given fields with correct information and accept the given terms and conditions
  • Provide your personal and home loan-related information to proceed
  • A few eligible loan options will appear. Compare and apply for a home loan which suits your loan needs the best.

Once you apply for home loan, a message will appear with a reference number which you can use to track your Bank of Baroda home loan application status. You will also receive a call from Paisabazaar’s home loan experts to take the home loan process forward.

Bank of Baroda Customer Care

Your home loan related queries and complaints will be resolved by the team of Bank of Baroda Customer Care. You can reach the Customer Care team through call, email and post. You can also visit their nearest bank branch and get your issues resolved. The details of Bank of Baroda home loan customer care are:

Toll Free Number for all customers  except PMJDY customers and other Financial Inclusion Schemes1800 102 4455 / 1800 258 44 55
(24×7 available)
Toll Free Number for PMJDY customers and other Financial Inclusion Schemes1800 102 77 88
Timings: 06:00 a.m. to 10:00 p.m.
Contact Number for NRIs (From Overseas locations)+91 79-49044100 / +91 79-23604000 (24×7 available)
Postal Address of Head OfficeBank of Baroda,
Baroda Bhavan,
7th Floor, R.C. Dutt Road,
Vadodara – 390 007, (Gujarat) India
Phone No.: (0265) 2316792
Email: gm.ops.ho@bankofbaroda.com
Postal Address of Corporate Centre Bank of Baroda,
Baroda Corporate Centre, Plot No. C-26, Block G,
Bandra Kurla Complex, Bandra (East), Mumbai – 400051
Phone No.: (022) 6698 5000-04
Fax No.: (022) 2652 3500

Bank of Baroda Home Loan FAQs

What is Bank of Baroda Home Loan Advantage?

Bank of Baroda Home Loan Advantage is a special loan that works like an overdraft loan facility. In this home loan scheme, a Bank of Baroda Savings Account will be linked to your Bank of Baroda home loan account. The loan amount will be dispersed in the savings account and the loan interest will be charged only on the amount used. The remaining loan amount will not incur any loan interest. The loan scheme gives you the flexibility to deposit or withdraw the funds from the savings account anytime. At the end of the day, the credit balance in the account will be directly debited from your savings account and simultaneously credited in the home loan account, thus reducing your home loan interest burden.

What is the home loan interest rate offered by Bank of Baroda?

The current repo rate linked home loan interest rate offered by the Bank of Baroda is 8.10% onwards and the MCLR linked home loan interest rate starts from 8.30% p.a. From October 1, 2019, the RBI had made mandatory for all banks to link their retail and MSME loan rates to repo rate. As compared to MCLR linked home loan rates, the interest rate of repo rate linked home loan is lower and is expected to go down further. If you haven’t switched your existing home loan rate from MCLR to RLLR, it is advisable to do so to get lower rate benefits.

What is the maximum loan tenure of Bank of Baroda home loan?

Bank of Baroda offers you a longer tenure of up to 30 years to repay your loan. However, the loan tenure under any circumstance cannot exceed the age of retirement or completion of 65 years of age, whichever is earlier.

Can home loan borrowers prepay their Bank of Baroda home loan?

Yes, Bank of Baroda home loan borrowers have the option to prepay their outstanding loan amount ahead of schedule either in part or in full from their own sources.

How can one check Bank of Baroda home loan status?

You can track your Bank of Baroda home loan application status either by contacting your relationship manager or logging in to the Bank of Baroda’s official website. To track your Bank of Baroda home loan application status, you must be ready with a few details such as the home loan application ID, mobile number and date of birth. Click here to check your Bank of Baroda home loan status.

Is it possible to take Bank of Baroda Top-Up Loan on the existing Home Loan without pledging extra collateral?

You can take a top-up loan on your existing Bank of Baroda Home Loan once your eligibility meets the lender’s predefined terms and conditions.

News about Bank of Baroda Home Loan

BOB is offering Home Loan Waiver on Processing Fee for Festival Season

October 2018: For festivals like Diwali and Dussehra, Bank of Baroda is currently offering a waiver of processing charges for home loan borrowers, this offer is valid till March 31, 2020

Did you find this article helpful? Rate it.

Bank of Baroda Home loan
(4.8/5 ) 38 Reviews
Write a review
May 27 , 2019
5/5
Prepayment charges

there are no prepayment charges on my BOB home loan account with floating rates.

May 27 , 2019
5/5
Low processing fees

I paid 0.5% for my loan processing on the BOB loan amount.

May 27 , 2019
5/5
Affordable interest rates

the interest rates are affordable at 9.05% for my BOB home loan.

May 27 , 2019
5/5
Maximum loan tenure

30 years of tenure gave me better opportunity to repay the BOB loan.

May 27 , 2019
5/5
Minimum loan amount

I needed only 8 lakhs for my dream home and got it approved with BOB.

May 27 , 2019
5/5
No foreclosure charges

I did not have any foreclosure charges for my BOB home loan with floating rates.

May 27 , 2019
5/5
No processing charge

I did not pay any processing fees for my BOB home loan application.

May 20 , 2019
5/5
Maximum loan amount

I got a home loan worth 10 crores with quick and strong documentation.

View All Reviews
Menu