Bank of Baroda Loan Against Property (Baroda Mortgage Loan)

Bank of Baroda provides loan against property (mortgage loan) starting from 10.85% per annum for loan amounts up to Rs 25 crore and tenures of up to 15 years.

Bank of Baroda Loan Against Property Highlights
Interest Rate	10.85%-16.50% p.a.
Processing Fees	Up to 1% (Rs 8,500 upfront-Rs 75,000)
Loan Amount	Rs 2 lakh to Rs 25 crore
Tenure	Up to 15 years

Bank of Baroda Loan Against Property Interest Rates

Bank of Baroda offers loan against property starting from 10.85% per annum, with rates varying based on the loan amount and tenure chosen by the applicants. Although the bank hasn't specified differing interest rates based on factors like credit score or occupation profile, many lenders do consider these factors when setting their loan against property interest rates.

Tenure up to 10 years

Loan Amount	Interest Rates (p.a.)
Facility up to Rs 7.5 crore	10.85%-15.75%
Facility above Rs 7.5 crore	11.10%-16.00%

Tenure above 10 years to 15 years

Loan Amount	Interest Rates (p.a.)
Facility up to Rs 7.5 crore	11.35%-16.25%
Facility above Rs 7.5 crore	11.60%-16.50%

Also read: Best Loan Against Property Interest Rate

Compare Interest Rates on Loan Against Property for Top Banks & HFCs

Name of the Lender	Interest Rate (% p.a.)
State Bank of India	10.00 - 11.30	Apply Now
Axis Bank	10.50 - 10.95	Apply Now
Bank of Baroda	10.85 - 16.50	Apply Now
ICICI Bank	10.85 - 12.50	Apply Now
Standard Chartered Bank	Starts from 9.25%	Apply Now
HSBC Bank	9.75 - 14.00	Apply Now
Union Bank of India	10.45% - 13.10% p.a.	Apply Now
PNB Housing Finance	9.25 - 15.00	Apply Now
IDFC First Bank	9.00 - 16.50	Apply Now
HDFC Bank Limited	9.50 - 11.00	Apply Now
L&T Housing Finance	9.50 onwards	Apply Now
LIC Housing Finance	9.50 - 11.55	Apply Now
Godrej Housing Finance	9.75 onwards	Apply Now
Indiabulls Finance	9.75% p.a. onwards	Apply Now
Tata Capital	10.10 onwards	Apply Now
Bajaj Housing Finance	9.75 - 18.00	Apply Now
Punjab National Bank	10.40 - 12.75	Apply Now

Baroda Mortgage Loan

Purpose: The loan against property provided by Bank of Baroda can be used for any purpose other than speculative purposes.
Loan Amount:
- Minimum: Rs 2 lakh
- Maximum: Metro branches- Up to Rs 25 crore
Tenure: Up to 15 years
LTV Ratio: 60% on realizable value of immovable property

Also read: Best Loan Against Property EMI Calculator

Fees and Charges of Bank of Baroda Loan Against Property

Processing Charges

Particulars	Charges
Term Loan	Up to 1% (Rs 8,500 upfront-Rs 1,50,000)
Overdraft	Loan amount above Rs 3 crore: Up to 0.25% (Rs 8,500 upfront) Loan amount up to Rs 3 crore: Up to 0.35% (Rs 8,500 upfront -Rs 75,000)

Particulars

Charges

Term Loan

Up to 1% (Rs 8,500 upfront-Rs 1,50,000)

Overdraft

Loan amount above Rs 3 crore: Up to 0.25% (Rs 8,500 upfront)

Loan amount up to Rs 3 crore: Up to 0.35% (Rs 8,500 upfront -Rs 75,000)

Eligibility Criteria for Bank of Baroda Loan Against Property

Eligibility criteria for Bank of Baroda's loan against property are as follows:

Indian residents and NRIs (individuals)
NRIs with a valid Indian passport, regular employment, self-employment, or business
Salaried individuals, professionals, business persons, agriculturists employed or engaged in business/profession
Minimum Gross Annual Income: Salaried individuals should have a minimum gross annual income of Rs 3 lakh, while NRIs should have a minimum of Rs 5 lakh.
Work Experience: Salaried individuals require a minimum of 3 years of work experience, while NRIs need a minimum of 2 years with a valid work permit for 2 years in a foreign country

In addition to the mentioned eligibility criteria, Bank of Baroda may also take into account the credit score of its applicants, similar to many other lenders, when assessing their eligibility for a Loan Against Property.

Also read: Best Loan Against Property Eligibility

Bank of Baroda Loan Against Property Documents Required

Bank of Baroda has provided a comprehensive list of documents required for Loan Against Property applicants based on their customer profile. Below is the complete list of documents necessary to avail Bank of Baroda LAP:

For Individuals

Below is the complete list of documents required for availing Bank of Baroda LAP:

ID Proof: ID card issued by the current employer, passport, Voter ID, driving license, Aadhar card, PAN card
Bank statement for the last 6 months
Duly filled application form with the applicant’s or guarantor’s signature
Two passport size photographs
ITR along with Form 16 for the last 3 years
Residential address proof: Telephone bill, electricity bill, passport, voter ID
Residential address proof for salaried individuals: Salary slips for the last 3 months duly attested by the employer and countersigned by the applicant
Residential address proof for self-employed/professionals: Balance sheets and profit & loss accounts of the business along with copies of individual ITR for the past 3 years certified by a CA
Residential address proof for agriculturists: Income certificate from Tehsildar/SDO/BDO, etc
Residential address proof for others: ITR for the last 3 years duly acknowledged by Income Tax authorities

For Non-Individuals

For Non-Individuals, the following additional documents are required for availing Bank of Baroda LAP:

Board resolution
Details of Associate Concerns
Loan or overdraft facility with other banks
Details of existing relationship with Bank of Baroda
Place of business/nature of business/line of activity, etc.
Individual tax returns of partners, proprietors, directors, etc.

Property Related Documents

Property related documents required for Bank of Baroda LAP include:

Non-encumbrance letter from the cooperative society
Paid receipts of water tax, latest maintenance, municipal tax, etc.
Confirmation from the society that Bank’s lien on society records is noted
Permission to create equitable mortgage from the society or development authorities
Original title deeds of the property offered for mortgage along with the complete chain of title deeds

For NRIs

For NRIs applying for Bank of Baroda LAP, the following additional documents are required:

Copy of employment contract
Copy of last work permit
Copy of ID card issued by current employer
Copy of VISA stamped on the passport
Bank statement of overseas account for the past 6 months
Passbook of NRE account or bank account statement
Form of guarantor along with income proof or net worth proof
Undertaking from the employer for monthly installment remittance
Biodata with educational qualifications, job experience, age, nature of profession, etc.
For salaried individuals: Certified copy of latest salary slips for the past 6 months
For self-employed individuals: Balance sheets and profit & loss accounts of the business along with copies of individual ITR for the past 3 years certified by a CA
Salary certificate, income statement duly attested by the foreign office of Bank of Baroda or certified by a competent authority available in the country

Also Read : Best Loan Against Property Documents Required

Frequently Asked Questions

Bank of Baroda accepts self-owned (including rented out) residential or commercial properties such as shops and complexes for Mortgage Loan. Additionally, individuals can avail a loan against a plot of land.

Yes, you can apply for a top-up as well as an overdraft (OD) facility with Bank of Baroda. The eligibility for these facilities will be based on your past repayment record and overall credit profile. You can check the Bank of Baroda overdraft interest rate to understand the terms and conditions associated with the facility.

Income proof is necessary for loan approval. Bank of Baroda assesses a customer’s loan repayment capacity based on their net income. Besides salary proof and business income proof, you can submit other types of income proofs such as property rent receipts and pension statements.

Bank of Baroda offers loans against property for amounts up to 60% of the market value of the property. However, doctors are eligible to receive a loan amount of up to 65% of their property value.

Bank of Baroda offers Loan Against Property up to 25 Crores. The approval is provided for up to 60% of the market value of the collateral attached.

Currently, the Bank of Baroda Loan Against Property Interest Rate ranges between 10.85% to 16.50% per annum.

You can close your Bank of Baroda property loan account before the scheduled time. However, a foreclosure fee, as specified in the loan agreement, will be applicable.