Bank of Baroda (BoB) provides home loans starting at an annual interest rate of 8.40% for tenures of up to 30 years and loan amounts up to Rs 20 crores. Additionally, it extends a balance transfer facility to current home loan borrowers from other banks and housing finance companies, offering lower interest rates. The bank also presents pre-approved home loans with in-principle approval before the identification of the property, which remain valid for 4 months.
|
Bank of Baroda (BoB) Home Loan Highlights |
|
|---|---|
| Processing Charges | NIL |
| Interest Rate | 8.40% – 10.90% |
| Loan Amount | Up to Rs 20 Crore |
| Loan Tenure | Up to 30 years |
Pre Approved Home loan | Check Eligibility & Apply Online
| Table of Contents | ||
|---|---|---|
| Compare Interest Rates offered by other Lenders | ||
| Interest Rates | ||
| Types of Home Loan offered by Bank of Baroda | ||
| Eligibility Criteria | ||
| Documents Required | ||
| EMI Calculator | ||
| FAQs | ||
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh | |
|---|---|---|---|---|
| SBI Bank | 8.40% - 10.15% p.a. | 8.40% - 10.05% p.a. | 8.40% - 10.05% p.a. | Apply Now |
| HDFC Bank Limited | 8.40% p.a. onwards | 8.40% p.a. onwards | 8.40% p.a. onwards | Apply Now |
| Kotak Mahindra Bank | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards | Apply Now |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards | Apply Now |
| L&T Finance Limited | 8.60% p.a. onwards | 8.60% p.a. onwards | 8.60% p.a. onwards | Apply Now |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards | Apply Now |
| LIC Housing Finance | 8.35% - 10.35% p.a. | 8.35% - 10.55% p.a. | 8.35% - 10.75% p.a. | Apply Now |
| PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50% - 11.45% p.a. | Apply Now |
| Punjab National Bank | 8.45% - 10.25% p.a. | 8.40% - 10.15% p.a. | 8.40% - 10.15% p.a. | Apply Now |
| Bank of Baroda | 8.40% - 10.65% p.a. | 8.40% - 10.65% p.a. | 8.40% - 10.90% p.a. | Apply Now |
| IDFC First Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Tata Capital Housing Finance | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards | Apply Now |
| Axis Bank | 8.70% - 13.30% p.a | 8.70% - 13.30% p.a | 8.70% - 9.10% p.a. | Apply Now |
| Godrej Housing Finance | 8.55% p.a. onwards | 8.55% p.a. onwards | 8.55% p.a. onwards | Apply Now |
Also read: Best Home Loan in India
| For Salaried | 8.40% - 10.60% p.a. |
| For Non-Salaried | 8.40% - 10.60% p.a. |
| Up to Rs 75 lakh | 8.40% - 10.60% p.a. |
| Above Rs 75 lakh | 8.65% - 10.85% |
Purpose: Bank of Baroda provides loans to people who want to buy a home, build a house, buy land, or expand their current property.
Loan Amount: Rs 1 crore-Rs 20 crore
Tenure: Up to 30 years
LTV Ratio:
Purpose: With Baroda Home Loan Advantage, customers can use it for various purposes like buying or building a house, purchasing residential land, extending their existing home, or transferring their home loan balance. This facility also includes a linked overdraft account, which works like a savings account. Customers can deposit their savings into this account and withdraw money as needed. The balance in the savings account is subtracted from the outstanding home loan amount, helping to reduce the borrower's interest costs.
Loan Amount: Rs 1 crore-Rs 20 crore
Tenure: Up to 30 years
LTV Ratio:
Purpose: Customers can use the Baroda Home Improvement Loan to renovate or repair their existing homes. This includes purchasing new furniture, furnishings, and fittings such as fans, geysers, air conditioners, air purifiers, water filters, and more.
Loan Amount: Up to Rs 50 lakh
Tenure: Up to 15 years
LTV Ratio:
Purpose: If you already have a home loan from another bank or housing finance company (HFC), you can transfer it to Bank of Baroda through their Home Loan Balance Transfer facility. This allows you to switch your existing home loan to Bank of Baroda at lower interest rates.
Loan Amount: Rs 1 crore-Rs 20 crore
Tenure: Up to 30 years
LTV Ratio:
Purpose: Existing home loan borrowers, including Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs), can access the Home Loan Top-up facility from Bank of Baroda. This allows them to borrow additional funds on top of their existing home loan to meet their personal financial needs.
Loan Amount: Rs 1 lakh- Rs 10 crore
Tenure: should not exceed beyond 70 years of age
LTV Ratio: 75% of residual value of house property
Purpose: People who are planning to buy a home but haven't found the right property yet can apply for the Baroda Pre-approved Home Loan. With this facility, they receive an in-principle home loan sanction letter valid for four months, based on their eligibility. Having this pre-approved letter can give them more negotiating power when they find a property they like.
Also Read : Best Home Loan EMI Calculator
Age
Residency Status
Type of Employment
Minimum CIBIL Score- 701
Also Read : Best Home Loan Eligibility
Bank of Baroda has specified a detailed list of documents required for availing Bank of Baroda Home Loan. Below mentioned is the document list for different occupation profiles.
For Salaried Individuals
For Self-employed Individuals/Professionals/Others
In case of applicants engaged in business through Partnership Firm/Private Ltd. Company
Also Read : Best Home Loan Documents Required
Yes, it's possible to get your bike financed even as a student if you meet the specific eligibility criteria set by the lenders.
The best loan for financing your bike or scooter is the one with the lowest interest rate. This way, you'll have to pay less in monthly installments (EMIs) throughout your loan term.
To get financing for your motorcycle, bike, or scooter, you can easily apply for the loan online from home. Or, if you prefer, you can go directly to a bike shop and apply for the loan there by giving them the documents they need
You can check your loan status online through internet banking. Another option is to visit the closest branch of the bank or financial institution that's providing the loan.
Many lenders consider a credit score of 620 and above to be good when giving out loans for motorcycles, superbikes, or scooters. However, if your credit score is lower than 620, you can still find lenders who may be willing to give you a loan, although they might charge a higher interest rate.
Banks allow you to make prepayments after successfully paying 3-6 EMIs. Depending on the number of EMIs you've already paid, there might be a small fee applicable on the outstanding amount when you choose to prepay.