Bank of Baroda (BOB) Home Loan, Interest Rate and EMI Calculator November 2017

 

(Updated on 16.11.2017) Bank of Baroda Home Loan – Apply & Get Lowest Interest Rate on Baroda Home Loan. Check Home Loan Eligibility, Monthly EMI. Documents Required & Processing Fee.

Bank Of Baroda Home Loan – Get Instant Quotes Online

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Bank Of Baroda Home Loan

Bank of Baroda has extensive home loan products to offer its customers at attractive rates of interest. Bank of Baroda home loan can be availed at 8.30%, the lowest interest rate ever offered on a home loan in the home loans market. Bank Of Baroda has varied and unmatched home loan products such as Normal Home Loan, Home Loan to NRIs and PIOs; Home Improvement Loan and Baroda Home Loan Advantage. Check your Home Loan Eligibility with BOB Home Loan Eligibility Products and avail your home loan with an advantage of EMIs payment through the customer’s linked savings account in BOB branch. Customers taking BOB home loan can avail Free Personal Accident Insurance for a stipulated tenure.

Bank of Baroda Personal Loan can be availed at feasible rates of interest to finance your expenses at the need of the hour.

Bank of Baroda Home Loan Interest Rates

Product

Rates of Interest

BARODA HOME LOAN &
BARODA HOME IMPROVEMENT LOAN

8.30% onwards

Baroda Home Loan Advantage

Up to Rs 75.00 Lacs: Normal Home Loan Rate Above Rs 75.00 Lacs: 0.25% over Normal Home Loan Rate

Baroda CRE Home Loan

0.25% over Normal Home Loan Rate

Baroda CRE Home Loan (Advantage)

Up to Rs 75 Lacs: 0.25% over Normal Home Loan Rate
Above Rs 75 Lacs: 0.50% over Normal Home Loan Rate

Baroda Additional Assured Advance (AAA)

One year MCLR + Strategic Premium + 1.50%

Processing Fees

For a Loan amount ;

  • Up to ₹ 50 lacs : 0.50% is levied on loan amount which equates to a minimum of ₹ 7,500/- + GST( Upfront) & maximum of ₹ 12,500/- + GST.
  • Above ₹ 50 lacs : 0.25% is levied on loan amount which equates to a minimum of ₹ 7,500/- + GST( Upfront) & maximum of ₹ 20,000/- + GST.
  • In case of takeover of home loan ₹ 7,500/- + GST (Upfront) is charged.
  • In case of takeover of Home Loan: 0.10%, Maximum- Rs. 10,000/- + Service tax ( for Baroda Home Loan Advantage)

REPAYMENT CLAUSE

  • Maximum period of loan shall be 30 years Initially including the maximum moratorium period of 36 months.
  • 18 month moratorium period for under construction Houses and Building upto 7th Floor and thereafter 6 months additional moratorium per floor subject to a maximum moratorium of 36 months.
  • Salaried individuals can extend their Repayment period upto 70 years of Age and not more than that. Son/daughter/spouse of age below 50 years can join as co – borrower or Guarantor.
BARODA HOME LOAN
REPAYMENT CAPACITY
Salaried Persons
GMI less than Rs. 20,000/- : 50%
GMI Rs. 20,000/- & Above but less than Rs. 50,000/- : 60%
GMI Rs. 50,000/- and Above less than Rs. 2.00 lacs : 65%
GMI Rs. 2 lacs and above but less than Rs. 5 lacs : 70%
GMI Rs. 5 lacs & Above : 75%
Others
Average Gross Annual Income (for last 2 years) Up to 6 lacs : 70%
Average Gross Annual Income (for last 2 years) Above 6 lacs : 80%

 

Bank of Baroda Home Loan EMI Calculator

Bank of Baroda Home Loan EMI Calculator

Fill Loan Amount, Interest rate & Tenure in Fields & get Instant Calculation for Home loan emi within seconds.
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Interest Rate (Reducing) % Per Annum
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Monthly EMI
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Total Interest Amount
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Features, Eligibility & Benefits of Baroda Home Loan

BOB Home Loan can be opted for purchase of New home / Construction / Repair & also for repaying a loan already taken from any other bank or Housing Finance company.

  • Purchase of Old house can be done which are not older than 25 years.
  • Property should stand in the name of applicant(s) only.
  • Resident Indian Individuals singly or jointly, NRIs, Staff Members are eligible for availing the BOB Home Loan (HUFs are not eligible).
  • Minimum age to avail the loan is 21 Years.
  • Reimbursement of cost of plot of land which is purchased within 24 months.
  • 2% over regular rate is charged as penalty in case of irregularity in payments of EMIs.
  • Life insurance cover is available for home loan applicants from India First Life Insurance Co Ltd. & Kotak Life Insurance Co Ltd. At the cost of borrower.
  • Free credit card from Bank of Baroda will be provided to the borrower for first year with loan limit of ₹ 2 lacs and above.
  • Top up loan can be taken 5 times during loan period for a minimum of ₹ 1 lakh to a maximum of ₹ 200 lacs or 75% of the residual value of house property after deducting 150% of outstanding loan amount of existing loan (whichever is lower).

Bank of Baroda Home Loan Types

1) Baroda Home Improvement Loan

Baroda Home Improvement Loan available for repairs / renovation / improvement / extension of the existing house. Home Improvement loan for purchase of furniture / fixtures / furnishing / other gadgets such as fans, geysers, air conditioners etc. required, to existing housing loan borrower or New borrowers. Maximum Loan can be availed is Rs.50 lacs. Bank offers repayment Period to a maximum of 15 years.

  • Minimum age to apply for BOB Home Improvement Loan is 21 years & 18 years for Co – applicants.
  • Re-payment can be done for a maximum of 15 years through EMIs with a moratorium period of 6 months or one month after completion of repair / renovation.
  • The house should not be older than 35 Years.
  • Free credit card facility for the first year can be availed by the applicant with a loan limit above 2 lacs.

2) Baroda Pre-Approved Home Loan

Baroda Pre-Approved Home Loan provides in-principle approval for a Home Loan prior to identification of a specific house/flat/plot by a genuine Home Loan applicant. The bank charges a processing fee of Rs.7, 500/- along with Service Tax (upfront and Non -refundable). The in-principle approval shall be valid for 4 months from the date of issue.Baroda Pre-Approved Home Loan provides in-principle approval for a Home Loan prior to identification of a specific house/flat/plot by a genuine Home Loan applicant.

The bank charges a processing fee of Rs.7, 500/- along with Service Tax (upfront and Non -refundable). The in-principle approval shall be valid for 4 months from the date of issue.

  • Documents in support of income and repayment capacity.
  • Property papers are required to be submitted by the applicant within the validity (4 months) of Pre – approved home loan.

3) Baroda Additional Assured Advance (AAA) (Residents / NRI / PIOs) 

Baroda Home Loan to NRIs/PIOs is the most preferred and trusted one. Non-Resident Indians (NRIs) holding Indian passport or Persons of Indian origin (PIOs) holding a foreign passport, singly or jointly. Applicant must have a minimum gross annual income equivalent to Rs. Five lacs per annum. Applicant should be employed/self-employed or having a business unit and staying abroad at least for 2 years.

  • Minimum of 1 lac and maximum of Rs. 200 lac or 75% of residual value of House Property after deducting 150% of the outstanding loan amount of existing home loan (whichever is low).
  • Minimum age to apply is 21 years & 18 years for Co – applicants with maximum age clause mentioned below :-
  • For Resident Indian – Age of the borrower + tenure of AAA Loan should not exceed 70 years as per laid down norms mentioned under Home Loan Product.
  • For NRIs /PIOs /OCIs – Age of the borrower + tenure of AAA Loan should not exceed 65 years.
  • Property Insurance cover with personal accidental death insurance cover under tie – up arrangement with NICL & Additionally Group Credit Life Insurance Cover (Optional at the cost of borrower).

4) Baroda Home Loan Advantage

  • The loan can be availed for purchase / construction / extension of new house or purchase of old house which is not older than 25 years.
  • Salaried individuals / self employed professionals can apply for Baroda Home Loan Advantage.
  • Interest on the loan will be charged at prevailing floating rates on a daily reducing balance at monthly rests.
  • 2% will be charged as penalty in case of irregular EMIs & also if the account becomes irregular.
  • No prepayment charges for foreclosure of loans or the full pre payment of the loan amount.
  • Validity of sanction of loan amount is 4 months.
BARODA HOME LOAN ADVANTAGE
TERMS & CONDITIONS (FOR SALARIED)
GROSS MONTHLY INCOME INCOME CRITERIA
GMI less than ₹ 50,000/- 48 times of average of last 3 months Gross monthly income
GMI Rs. 50,000 & above but less than ₹ 1 lac 54 times of average of last 3 months Gross monthly income
GMI ₹ 1 lac & Above 60 times of average of last 3 months Gross monthly income
FOR OTHERS (Professional/ Self – employed/ Businessperson)
Average annual income less than ₹ 2 lac 4 times of average of last 2 years gross annual income
Average annual income ₹ 2 lac & above 6 times of average of last 2 years gross annual income

Bank Of Baroda home loan Documents Required

  • Duly filled in application form with photograph

  • Identity proof and residence proof

  • Processing fee cheque, latest 3 months bank statement

  • Latest salary slip & current dated salary certificate with the latest Form 16 for salaried persons.

  • Latest Bank statement and Latest ITR or Form 16 for self-employed professionals

  • Other documents may also require as per parameters set by the banks.

Bank Of Baroda Home Loan Prepayments: There are no prepayment charges for foreclosure of loan.

Bank Of Baroda MCLR Rate November 2017

MCLR rate w.e.f from 07.10.2017

MCLR MCLR in (%)
Overnight MCLR

8.05

1 Month MCLR

8.10

3 Month MCLR

8.15

6 Month MCLR

8.25

1 year MCLR

8.30

3 years MCLR

8.45

5 years MCLR

8.60

*Bank Of Baroda has a unified fee & charges system which includes Processing Charges, Documentation & verification/vetting charges, Pre – Inspection (Contact Point Verification- CPV) charges, One time Post inspection charges, Advocate charges for legal opinion ,Valuer charges for valuation (One time at the time of sanction), Bureau report charges, CERSAI charges, ITR Verification charges.

Bank Of Baroda Home Loan FAQs

Q1) Who can avail home loan from Bank of Baroda?

A person can avail a home loan from Bank of Baroda to construct or purchase a house or extend his/her existing house if he or she is minimum 21 years old and employed or self-employed with regular income.

Q2) Do Bank Of Baroda give any housing loan product for NRIs?

Yes, Bank Of Baroda has housing loan product for NRIs which is called Baroda Home Loans to NRIs or PIOs.

Q3) Can an applicant prepay the loan ahead of schedule?

Yes, an applicant can prepay the loan ahead of schedule either in part or in full.

Q4) What is the maximum tenure of Bank of Baroda home loan?

Bank of Baroda home loan can be availed up to a maximum tenure of 30 years.

Latest News

1) After SBI, It’s time for Bank of Baroda to lower the home loan interest rates. The bank will offer the cheapest home loan rate for ‘Best Rated Customers’ who have a credit score of above 760. For customers with a credit score below that, BOB, based on risk rating, charges a mark-up of up to 100 bps over its MCLR.

2) Bank of Baroda is offering home loans at 8.30% per annum. Bank of Baroda’s 1 year MCLR currently stands at 8.30%. this rate is applicable irrespective of total home loan amount and is available for a tenure of up to 30 years of all categories i.e salaried or self – employed.

The bank said that it does not add any mark-up on its MCLR for its best rated home loan borrowers.

USER SEARCH QUERIES ON BANK OF BARODA HOME LOAN NOVEMBER 2017

Bank of Baroda cut its base rate by 25 basis points (bps) to 9.65% from 9.90% – 26.02.2017
Bank of Baroda cut its base rate by 25 basis points (bps) to 9.65% from 9.90% – 27.03.2017
Bank of Baroda cut its base rate by 25 basis points (bps) to 9.65% from 9.90% – 30.04.2017
Bank of Baroda cut its base rate by 25 basis points (bps) to 9.65% from 9.90% – 28.05.2017
Bank of Baroda cut its base rate by 25 basis points (bps) to 9.35% from 9.60% – 27.06.2017
BANK OF BARODA HOME LOAN BRANCHES IN DELHI
Contact Address IFSC Code MICR Code
75/138, Nehru Enclave,Alipur,Delhi 110036 BARB0ALIDEL 110012147
Anadnagar Branch,100 Ft Sanjay Sachin Rd, Opp Sima Hall Shaymal Raw,Ahmedabad,380051 BARB0VASANT 110012031
Asafali Rd, Jeevan Vikas Bhawan, 30/31 A, Asafali Rd, N. Delhi-110002 BARB0ASAFAL 110012009
B-3, Connaught Place, N. Delhi-110001 BARB0CONNAU 110012013
Bhikaji Cama Branch,Ug Ansal Chambers 1 Bhikaiji Cama Place,New Delhi,110066 BARB0BHICKA 110012034
Khasra No.760, Main Road, Opp.Neelkanth Apartments, Delhi – 110 084. BARB0BURARI 110012125
Chanakyapuri Branch,Yashwant Place, Ndmc Shopping Complex, Chanakyapuri,New Delhi,110021 BARB0CHANAK 110012012
856, Mohan Mansion, Chandni Chowk, Delhi- 110006 BARB0CHANDN 110012002
3830, Lal Kothi, Pataudi House Rd., Delhi110002 BARB0DARYAG 110012015
Defence Colo Branch,A-8, Dda Office Cum Shopping Complex, Defence Colony,New Delhi,110024 BARB0SOUTHE 110012016
C-14,Dilshad Colony, Dilshad Garden, Delhi – 110 095 BARB0DILSHA 110012112
855 Ground Floor Dr Mukharjee Nagar Delhi 110009 BARB0MUKDEL 110012137
Plot 1, Mlu, Pocket-6 1St Fl, Sector 12 Vardhaman Prasad Plaza, Dwarka Delhi 110075 BARB0DAWARK 110012095
Plot No. 10&11,Local Shopping Centre,Opp. Prince Apartment,I.P. Extension,Patparganj,Delhi- 110092 BARB0IPEDEL 110012145
9 12 Main Road,Kailash Nagar,Delhi-110031 BARB0GANDEL NA
Hari Nagar New Delhi Gl20 Jail Road Hari Nagar New Delhi 110058 BARB0HARINA NA
48 Narela Road,Ist Floor,Bawana,Delhi-110039 BARB0BAWANA NA
Khasra No 347 Property No 520 Bhajanpura East Delhi Delhi 110053 BARB0BHAJDE NA