Already decided property but couldn’t be able to buy due to lack of money, no more worries when Bank of Baroda home loan offer you loan at lowest interest rates with flexible tenure period up to 30 years. It’s a one such package filled with various benefits.
BOB Home Loan Features & Benefits
Features:-
- Maximum Loan amount can be obtained
- Grab home loan at lowest interest rate
- Tenure with moratorium period lets longest repayment
Benefits:-
- Lowest interest rates & processing charges
- Free credit card and insurance
- 90% of Loan to value ratio
- BOB offers your Top-up facility
Bank of Baroda Various types of Home Loans
Whether you're looking to purchase or construct your home, Bank of Baroda is the one stop solution. You can get the lump sum amount to buy your most desired property. Easy and minimum documentation process.
BOB Home Loan Advantage: -
This facility allows you to get home loan sanction in linked saving account. Borrower will be given the option to deposit his/her saving in SB (Saving bank account) as this will led to avail maximum benefit of business.
BOB Pre-Approved Home Loan: -
As its name suggests approved home loan is given to only potential borrowers who qualify some eligibility criteria to get approved. So, if your loan is pre-approved you can contact Bank of Baroda to enjoy better benefits.
BOB Home Improvement Loan: -
Bank of Baroda offers flexible & affordable housing loan by which you can use the loan amount for your home renovation, painting, carpeting, tiling &, etc. BOB provides home improvement loan at zero pre-closure charges.
BOB Interest Subsidy Scheme for Housing: -
This facility is specially designed for economically weaker section of urban areas, availing housing loan allow to get subsidy on interest with other beneficial features like flexible tenure & low interest.
BOB Home Suvidha Personal Loan:-
BOB home suvidha personal loan allows you to get a loan for home purchasing associated with various cost such stamp duty, registration, tax duty, insurance premium, GST & other charges.
Bank of Baroda CRGFS Housing Loan: -
Ministry of housing and urban poverty alleviation (govt of India) established CRGFS scheme to aid the low-income segment for making their dream come true of owning a new home.
Bank of Baroda Top Up Loan: -
Through BOB Top-up loan, you can avail of the minimum loan amount of 1 lakh & maximum loan amount of 2 crores but remember repayment tenure period will be the balance on your existing home loan.
Pradhan Mantri Awas Yojana (PMAY):-
This scheme is approved by the central government in respect of the objective to provide housing for all urban areas within the end of 2022. The borrower can avail interest subsidy as per the income category he/she belongs to.
Baroda Home Loan Takeover Scheme:-
Switch your existing home loan of another bank to the bank of Baroda to get additional benefits like Lower interest rates, minimal documentation, less processing fee. Both residential & non-residential individuals can apply for a home loan takeover scheme.
| List of Bank of Baroda Home Loan Scheme | Salaried Interest Rates | Self-Employed Interest Rates |
| Bank of Baroda Home Loan | Min – 6.75% - Max- 7.60% p.a | Min – 7.50% - Max- 8.40% p.a |
| BOB Home Loan Advantage | Min – 6.75% - Max- 8.35% p.a | Min – 7.40% - Max- 8.15% p.a |
| BOB Pre-Approved Home Loan | Min – 6.90% - Max- 8.10% p.a | Min – 7.15% - Max- 10.00% p.a |
| BOB Home Improvement Loan | Min – 6.75% - Max- 8.10% p.a | Min – 7.30% - Max- 8.50% p.a |
| BOB Interest Subsidy Scheme for Housing | Min – 7.10 - Max- 8.25% p.a | Min – 8.10% - Max- 9.00% p.a |
| BOB Home Suvidha Personal Loan | Min – 7.25% - Max- 9.00% p.a | Min – 8.25% - Max- 9.00% p.a |
| Credit Risk Guarantee Fund Scheme for Low Income Housing | Min – 7.10% - Max- 8.45% p.a | Min – 8.00% - Max- 9.00% p.a |
| Bank of Baroda Top Up Loan (Resident/NRIs/PIOs) | Min –7.50% - Max- 8.40% p.a | Min – 8.20% - Max- 9.30% p.a |
| Pradhan Mantri Awas Yojana (PMAY) | Min –7.35% - Max- 8.40% p.a | Min –7.80% - Max- 8.40% p.a |
| Baroda Home Loan Takeover Scheme | Min – 6.75% - Max- 8.00% p.a | Min – 7.15% - Max- 8.00% p.a |
Bank of Baroda Home Loan Interest Rate & Processing fees
| Processing Fees | 0.25% to 0.50% + GST |
| Interest Rate | 6.75% onwards |
| Maximum Tenure | Up to 30 years |
Also Read:-What is Buyers Credit
Type of Other Charges by Bank of Baroda Home Loan
Loan processing charges: - For below 50 lakh loan amount 0.50% will be charged
For the above 50 lakh loan amount 0.25% will be charged as a processing fee.
Deviation Charged: - Min 1000 – Max 5000 will be charged per deviation
Modification Charges: - For below 1 Crore Rs 5000/- will be charged.
Above Rs. 1 Crore & up to Rs. 10 Crore: Rs. 15,000
Above Rs. 10 Crore: Rs. 25,000
Bank of Baroda Home Loan Eligibility
BOB Home Loan are packed with several exclusive benefits for home buyers. Don’t miss the chance, try to grab the best deals before that make sure you meet up eligibility criteria as given below:-
| Age | 21 – 70 years |
| Employment Type | Salaried and Self-employed professional and non-professional |
| Minimum Salary for Salaried | Rs.25,000 per month |
| Minimum Salary for Non-Salaried | Rs.2 lakh per annum |
Also Read:-Project Loan for Textile Industry in India
Bank of Baroda Home Loan Eligibility Criteria for Salaried: -
- Applicant must be resident of India
- Applicant age should be in-between 21 to 70 years
Bank of Baroda Home Loan Eligibility Criteria for Professional: -
- Applicant age should be in-between 21 – 65 years
- Doctor, CA, Architect, Lawyers, Consultant, Engineer & CS can apply for Home Loan on Professional category.
Bank of Baroda Home Loan Eligibility Criteria for Self-Employed: -
- Any individual filing income tax returns are eligible
- Maintain good financial records
- Minimum 3 years of existing business
Bank of Baroda Home Loan Documents Required
Salaried & Self-employed are required to provide any one of the following for identity proof: -
- Aadhaar Card
- Driving License
- Passport
- Election/ Voter ID Card
- PAN Card
Salaried & Self-employed are required to provide any one of the following for residence proof: -
- Passport
- Aadhaar Card
- Driving License
- Election/ Voter’s ID Card
- Bank Account or Post Office Savings Bank Account statement
Salaried & Self-employed are required to provide any one of the following for Age proof: -
- Aadhar Card
- Valid Passport
- Voter ID
- Birth Certificate
Salaried & Self-employed are required to provide any one of the following for Income proof: -
- Latest 6 months bank statement
- Income tax returns or form 16
Salaried & Self-employed are required to provide below mentioned mandatory documents: -
- Properly filled loan application with 2 colored passport size photographs
- Processing cheque fee in favour of the bank
How to apply for Bank of Baroda Home Loan Online?
Step 1 - You can apply for Bank of Baroda home loan through visiting their website Bank of Baroda.com or visit the nearest Bank of Baroda branch.
Step 2 - Before that check your eligibility criteria meet well or not from your end to avoid loan rejection. If yes you may download home loan application form by online or collect it from nearest branch bank.
Step 3- Fill the required details of your personal & occupational & attach KYC & mandatory documents. Note: - Check twice before submitting the loan application.
Step 4 – Once your loan application approved then, you will need to provide property documents upon which you are taking the loan for further legal review & evaluation of property.
Step 5 – After evaluation done on property, shortly your loan approval take place where your loan sanctioned then, loan amount will be credited to your respective account.
Also Read:-Supplier credit and Buyers credit
Bank of Baroda Home Loan FAQ
Which Home Loan is better SBI or bank of Baroda?
Generally, there is no such big difference between SBI & Bank of baroda home loan as SBI home loan interest rate is 6.70 where bank of baroda home loan interest rate 2020 is 6.75 (just 0.5% difference). SBI charge 10,000 for processing fee while BOB Housing loan processing fee charge 10,030 (only 30 Rs difference).
How to fill Bank of Baroda home loan application form?
It’s a simple process whether you are applying online or offline you just need to ensure that you carry mandatory document as given by BOB home loan checklist, thereafter, you will be required to fill up the details in home loan application form like your full name, date of birth, address, occupation & contact details along with necessary documents attached. Check twice details & documents are submitted properly without any missing or error consist.
How can I able to get Home loan from Bank of Baroda ?
Get home loan from bank of baroda at simple way, you will not require to waste your energy & time by roaming here & there, just visit their official portal, click home loan product & check your eligibility criteria whether you meet them or not to avoid rejection of loan applications. Hence, on top of the page apply now button is available from where you can sing up with name, email & mobile no to submit, Quickly BOB will contact you to discuss for further details.
How to Transfer Home loan to Bank of Baroda?
Through the help of net banking & mobile banking you can easily place a request regarding transfer home loan of another bank to bank of baroda home loan, once they receive your request shortly BOB customer support will contact you for further procedure.
How to use Bank of Baroda Home Loan Calculator?
Using a bank of Baroda home loan calculator is easier to make a calculation.
Is PMAY subsidy applicable for "Bank of Baroda - Home Loan Advantage" Loan?
Pradhan Mantri Awas Yojana scheme is approved by Central Government & its applicable to bank of baroda home loan, where its offer credit linked subsidy to borrower.
How can I opt out of the Bank of Baroda Home Loan Mandatory?
If you are planning to avail Bank of Baroda home loan & having a current or saving account from another bank, it's not mandatory to firstly open a special account to avail home loan from bank of baroda.
How do I generate a schedule statement of a Bank of Baroda home Loan Account?
You can get the Bank of Baroda home loan account statement by visiting your nearest bank of baroda branch & place a request for account statement by filling the form with correct value details where you will be asked full name, Date of birth, Pan card number, contact no, address with home loan account number.
Does Bank of Baroda Home Loan reduce its Interest Rates?
Yes, Bank of Baroda home loan rate is reduced by 0.10% as earlier bob home loan rates are 6.85% while now it charges 6.75% onwards which considered to be competitive rate in market.
What are the benefits or advantages of taking a Home Loan from the Bank of Baroda?
Major benefits of taking a home loan from Bank of Baroda make you to pay lowest interest rates as compared to other banks, they will sanction the maximum loan amount, also they prove free credit cards & insurance upon availing BOB home loan. Can you also avail Top-up home loan on your existing home loan?
What is better a Home loan linked with MCLR (like Bank of Baroda) or a Home loan linked with PLR (like HDFC)?
Home loan linked with MCLR of Bank of Baroda charges 7.35% for 1 year tenure period while HDFC bank home loan linked with MCLR charges 7.20% for 1 year tenure period (approximately 0.15% of difference only).
Bank of Baroda Home Loan Customer Care
For all customers
24 x 7 Toll-Free Number
1800 258 44 55
1800 102 44 55
Give a miss call
For Balance Inquiry
84680 01111
For Mini Statement
84680 01122
For PMJDY customers & other Financial Inclusion schemes
Toll-Free Number
1800 102 77 88
NRIs (From Overseas locations) 24 x 7
+91 79-49044100
Apply Now:-Loan Against Property without Income Proof
9863-02-02-02