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Bank of Baroda Home Loan Details

Apply for Bank of Baroda home loans at floating rates linked to MCLR. Here is a quick snapshot of the BoB home loan plans you can choose from:

Updated as per Latest Rates on 22 Jan 2020
MCLR8.70% (1 year)
Loan AmountMinimum: NA, Maximum: Rs.10 crore
Processing FeesUp to 0.50% (Min. Rs.8,500; Max. Rs.25,000)
Penal Interest RateNot available
Prepayment/Foreclosure ChargesNil
Max Tenure30 Years
Rate Packages AvailableFloating only

Bank of Baroda’s unified processing fee includes documentation charges, inspection and valuation charges, legal fees, and CERSAI fees, among other things. Visit our home loan processing charges page to know more.

Bank of Baroda Home Loan Interest Rates

BoB housing loan interest rates are based on its 1-year MCLR, which currently stands at 8.70%. The bank does not offer fixed-rate packages since 1 July 2010. The rates vary according to your risk profile. The current interest rates for Bank of Baroda home loan schemes are given in the table below:

Bank of Baroda Home Loan SchemesInterest Rate (p.a.)
Baroda Home Loan8.70% to 9.70%
Baroda Home Improvement Loan8.70% to 9.70%
Baroda Home Loan Advantage8.70% to 9.95%
Baroda CRE Home Loan8.95% to 9.95%
Baroda CRE Home Loan (Advantage)8.95% to 10.20%
Baroda Top Up Loan (Resident/NRIs/PIOs)Starting from 9.20% + strategic premium
Baroda Mortgage LoanStarting from 9.65% + strategic premium
Baroda Ashray (Reverse Mortgage Loan)Starting from 10.45% + strategic premium

Bank of Baroda Home Loan Schemes

Bank of Baroda offers housing finance up to Rs.10 crore to eligible customers looking to purchase/construct their dream home or improve/extend an already existing property. The home loans attract an interest rate starting from 8.65% p.a. and a processing fee up to 0.50% of the loan amount.

Extended loan tenures up to 30 years and zero charges on pre-payments and foreclosure ensure a comfortable loan repayment period. The Bank of Baroda also offers free accident insurance on all their loans.

Baroda Home Loan

Key Highlights

  • Attractive interest rates and low processing fees
  • Repayment tenures up to 30 years
  • Free accident cover on your housing loan
Interest RateProcessing Fee
8.65% p.a. to 9.65% p.a.Up to 50% of the loan amount (Min. Rs.7,500; Max. Rs.20,000)
  1. Baroda Home Loan Advantage
    • Borrowers can choose to deposit his/her savings to the savings bank account to avail interest benefits in the loan account.
    • Sanctioned loan linked to the savings bank account.
    • Interest calculated on the daily outstanding credit balance in the savings bank account.
    • EMIs auto-recovered from the loan-linked savings bank account
    Loan SlabInterest RateProcessing Fee
    Up to Rs.75 lakh8.65% p.a. to 9.65% p.a.Full waiver of processing fee (Rs.7,500 plus GST payable upfront)
    Above Rs.75 lakh8.90% p.a. to 9.90% p.a.
  2. Bank of Baroda Home Improvement Loan
    • Attractive floating interest rates linked to one-year MCLR
    • Maximum moratorium period of 36 months
    • Maximum loan amount of Rs.1 crore in semi-urban and rural areas; Rs.5 crore in metro cities and Rs.10 crore in Mumbai
    • Group credit life insurance cover for the borrower and his/her family.
    Interest RateProcessing Fee
    8.65% p.a. to 9.65% p.a.Up to 50% of the loan amount (Min. Rs.7,500; Max. Rs.20,000)
  3. Baroda Home Loan Advantage for NRI/PIOs
    • Sanctioned loan linked to the savings bank account
    • Borrowers can deposit their savings to the linked account to enjoy better interest benefits in the loan account
    • Interest charged on daily outstanding credit balance in the linked savings bank account
    • EMIs recovered only from the linked savings account
    Loan SlabInterest RateProcessing Fee
    Up to Rs.75 lakh8.65% p.a. to 9.65% p.a.Rs.7,500 plus GST payable upfront
    Above Rs.75 lakh8.90% p.a. to 9.90% p.a.
  4. Baroda Home Improvement Loan for NRI/PIOs
    • Can be availed for the purpose of improvement/repair/renovation of an existing property.
    • Loan tenures up to 30 years with maximum moratorium period of 3 years
    • Zero charges on prepayment of loan
    • Interest charged on daily reducing balance at monthly rests
    Interest RateProcessing Fee
    8.65% p.a. to 9.65% p.a.Up to 50% of the loan amount (Min. Rs.7,500; Max. Rs.20,000)
  5. Baroda CRE Home Loan to NRI/PIOs
    • Suitable for NRI/PIO borrowers looking to avail housing finance for his/her third house onwards
    • Applicable rate of interest is set 0.25% higher than the regular Baroda Home loan for NRI/PIOs
    • No prepayment and foreclosure charges
    Interest RateProcessing Fee
    8.90% p.a. to 9.90% p.a.Up to 50% of the loan amount (Min. Rs.7,500; Max. Rs.20,000)
  6. Baroda Home Loan for NRI
    • Competitive rates of interest
    • Free accidental insurance offered on the loan
    • Extended loan repayment tenures up to 30 years

Bank of Baroda Home Loan Calculator

Calculate the EMI payable towards your Bank of Baroda housing loan using the Creditupchar Home Loan EMI Calculator. All you have to do is key in a few parameters such as loan amount, applicable interest rate, tenure and the processing fee. The automized tool calculates your EMI on the basis on the entered values and provides the break-up of the total amount payable during the entire loan tenure.

A detailed amortization schedule indicating all your debt repayments towards the principal and interest component of your home loan is also provided.

Bank of Baroda Home Loan Eligibility Criteria

Eligibility CriteriaRequirement
AgeApplicant:
  • Minimum Age: 21 years
  • Maximum Age: 70 years
Co-applicant:
  • Minimum Age: 18 years
  • Maximum Age: 70 years
Residency Status
  • Resident Indian
  • Non-Resident Indian (NRI)
  • Person of Indian Origin (PIO)
Type of EmploymentThe applicant can be:
  • Salaried
  • Self-employed

Document Required for All Home Loan Applicants Under Bank of Baroda

Identity Proof (any one)
  • Valid Passport
  • PAN Card
  • Driving License
  • Voter ID
  • Aadhaar Card
Proof of Residence (any one)
  • Aadhaar Card
  • Voter ID
  • Driving License
  • Passport
  • Copy of Utility Bills
Age Proof (any one)
  • Birth Certificate
  • Voter ID
  • Valid Passport
  • Aadhaar Card
Proof of Income
  • Latest Form 16 or Income Tax (IT) Returns
  • Last 6 months’ bank account statements
Other Documents
  • Processing fee cheque favouring the bank
  • Duly filled and signed application form with passport size photographs of the applicant and co-applicants

Bank of Baroda Pradhan Mantri Awas Yojana

Bank of Baroda offers housing finance to eligible families and beneficiaries through the Credit Linked Subsidy Scheme (CLSS) under the Pradhan Mantri Awas Yojana Scheme (PMAY). Under this scheme, beneficiaries can avail interest subsidies ranging from 3.00% to 6.50% depending on the income category they belong to. The categories eligible under PMAY are:

  • Economically Weaker Section (EWS)
  • Low Income Group (LIG)
  • Middle Income Group (MIG –I & MIG – II)
CategoryAnnual Household IncomeInterest Subsidy
EWSUp to Rs.3 lakh6.50%
LIGRs.3 lakh to Rs.6 lakh6.50%
MIG - IRs.6 lakh to Rs.12 lakh4.00%
MIG - IIRs.12 lakh to Rs.18 lakh3.00%

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