Bank of Baroda home loan interest rate starts at 7.95% p.a. with tenure of upto 30 years and loan amount upto Rs.10 Crores to eligible customers looking to buy/construct their dream home or improve/extend an already existing property. It comes with its excellent features & benefits for people intending to purchase their own homes, is one good option.
Residents, as well as non-resident Indians, can avail of Bank of Baroda Home Loan. BOB, a public sector bank, makes owning a home a reality with their home loan products & offers interest subsidies for the underprivileged with a monthly income of less than Rs. 5000.
Bank of Baroda Housing Loan interest rate is linked to Baroda Repo Linked Lending Rate (BLLR). At present, the BLLR rate is 7.95% p.a. The interest rates of Bank of Baroda Home Loan Schemes are presented below:
BOB Home Loan Schemes |
Interest Rates p a |
Baroda Home Loan |
7.95% p.a. to 9.70% p.a. |
Baroda Home Improvement Loan |
7.95% p.a. to 9.30% p.a. |
Baroda Home Loan Advantage |
7.95% p.a. to 9.55% p.a. |
Baroda CRE Home Loan |
8.45% p.a. to 9.80% p.a. |
Baroda Top Up Loan (Resident/NRIs/PIOs) |
8.80% p.a. to 10.65% p.a. |
Baroda Ashray (Reverse Mortgage Loan) |
10.55% p.a. |
Disclaimer: Interest rates & charges are subject to change depending on market conditions and the bank’s discretion.
Charges associated with BOB Housing Loans are given below:
Particulars |
Applicable Charges (exclusive of GST) |
Processing fees* |
Up to Rs. 50 Lakhs: 0.50% of loan amount (Min Rs. Rs. 8,500 (Upfront) & Max. Rs. 15,000) Above Rs. 50 Lakhs: 0.25% of loan amount (Min Rs. Rs. 8,500 (Upfront) & Max. Rs. 25,000) |
Modification charges |
Up to Rs. 1 Crore: Rs. 5,000 Above Rs. 1 Crore & up to Rs. 10 Crores: Rs. 15,000 Above Rs. 10 Crores: Rs. 25,000 |
Deviation charges |
Rs. 1,500 per deviation (Max. Rs. 5,000) |
Resident and non-resident Indians between 21 and 70 years are eligible for BOB home loans. The Home loan Eligibility Criteria for Salaried & Self-Employed Individuals is represented below:
Parameters |
Salaried Individuals |
Self-employed Individuals |
Age |
21-60 Yrs |
21-70 Yrs |
Income |
Regular Income |
Regular Income |
Professional Status/ Job |
Minimum 2-3 years in the job |
Must be in the same business for at least 2-3 years |
Using the BOB Home Loan EMI Calculator, know your housing loan EMI in just a minute by entering your desired loan amount, interest rate, tenure, and processing fee and then clicking “Calculate.” For example, using the BOB Home Loan eligibility calculator and considering an interest rate of 7.95% p.a. for a loan amount of Rs 10 lakhs for 30-year tenure would amount to an EMI of Rs 7303/- only.
Month | Starting Balance | EMI | Interest rate | Principal contribution | Interest contribution | Ending Balance |
---|
The table below shows the EMI amount according to your loan amount and the term availed.
Loan Amount |
10 Years |
20 Years |
30 years |
Rs.12,106 |
Rs.8,333 |
Rs.7,303 |
|
Rs.24,213 |
Rs.16,667 |
Rs.14,606 |
|
Rs.48,425 |
Rs.33,333 |
Rs.29,211 |
|
Rs.60,523 |
Rs.41,667 |
Rs.36,514
|
Check step-by-step process to apply for a Bank of Baroda home loan online:
Step 1: Visit their website
Step 2: Keep all required documents ready.
Step 3: Fill up the form and follow the instructions to complete the online application.
Check step-by-step process to apply for a Bank of Baroda home loan offline:
Step 1: Visit the nearest branch to fill in the application form for a home loan.
Step 2: Carry all the required documents when you visit the branch to process your loan quickly.
Step 3: Fill in the following details on the form:
Personal information (name, age, and gender)
Professional data (income, employer’s name, professional stability)
Residence and address for correspondence
Contact details (email ID, mobile number)
Aadhaar Number
PAN
Required loan amount
Co-borrower or co-applicants details, if any
Required documents for Bank of Baroda Home Loan (for Salaried & Self-Employed Individuals):
Proof of Identity( Any One) |
Valid Passport/ PAN card/ Driving Licence/Voter ID/ Aadhaar Card |
Residence Proof ( Any One) |
Aadhaar Card/ Voter ID/ Driving Licence/ Passport/ Utility Bills |
Age Proof( Any One) |
Birth Certificate/ Voter ID/ Valid Passport/ Aadhaar Card |
Income Proof For Salaried |
|
Income Proof For Self-employed |
|
Other Documents |
|
Check detailed Documents list required for Housing Loan
Types of Bank of Baroda Home Loan are:
1. Baroda Home Loan- You can buy your new home at a 7.95% to 9.70% rate of interest p.a.
BOB Home Loan LTV Ratio:
Home Loan Amount |
Property Cost Covered |
Loan Amount upto Rs 30 Lakh |
Upto 90% of Property Cost |
Loan Amount above Rs 30 Lakh - 75 Lakh |
Upto 80% of Property Cost |
Loan Amount above Rs 75 Lakh |
Upto 75% of Property Cost |
2. Baroda Home Loan Advantage- It is a home loan with an overdraft facility, and it is linked with a savings bank account. The Interest Rate is 7.95% to 9.55% p.a., calculated on the daily outstanding credit balance in the savings bank account.
3. Baroda Top-up Loan (Resident/NRO/PIOs)- It is for existing home loan customers who need additional finance. The interest rate is 8.80% p.a, and the repayment tenure is the balance period of the existing home loan.
4. Baroda ASHRAY Reverse Mortgage Loan- Provides an additional income source to senior citizens. The interest rate is 10.55% p.a. onwards.
5. Bank of Baroda Home Improvement Loan- Apart from repairs and renovation to your existing home, you can also purchase new furniture, fittings and the interest rate is 7.95% to 9.30% p.a.
6. Bank of Baroda Pre-Approved Home Loan - Pre-approved Home Loan is approved before the property is identified and interest Rate is as per credit assessment.
7. Baroda Home Loan Advantage for NRI/PIOs- Sanctioned loan is linked to the savings bank account, and interests are charged on the daily outstanding credit balance in the linked savings bank account.
8. Baroda Home Improvement Loan for NRI/PIOs –Home Improvement Loan can be availed to improve/repair/renovate an existing property. Loan tenures up to 30 years with and interests are charged on a daily reducing balance at monthly rates.
9. Interest Subsidy Scheme for Housing the Urban Poor (ISHUP)- It addresses the housing needs of the Low Income Group (LIG-monthly income up to Rs. 10,000) and the Economically Weaker Section (EWS- monthly income is up to Rs. 5,000).
10. Pradhan Mantri Awas Yojana (PMAY) - Affordable housing benefits are offered under PMAY Scheme. Interest subsidies or credit are offered on home loans based on the annual income category of the family.
Queries and complaints related to home loans are resolved by the Bank of Baroda Customer Care team. The Customer Care team can also be reached via a phone call, email, or visiting the nearest bank branch to resolve your issues.
Below are the details of Bank of Baroda home loan customer care:
Toll-free Number (for all customers except for PMJDY) |
1800 102 4455 / 1800 258 44 55 |
Toll-free Number (for PMJDY & other Schemes) |
1800 102 77 88 |
Contact Number for NRIs |
+91 79-49044100 / +91 79-23604000 (Available-24×7) |
Several factors affect your home loan interest rate, such as:
Loan amount- Bank of Baroda provides a home loan of Rs 15 lakhs to up to Rs 10 Crores. Depending upon your net monthly salary (after all deductions), the bank shall determine the EMI for your home loan amount.
Credit Score- Higher credit score helps an applicant to get a home loan at a low-interest rate.
Down Payment- A large down payment reduces the amount of loan required, which in turn reduces the interest and EMI you need to pay.
Type of Interest- BOB offers both fixed and floating interest rates on the home loan.
Other factors- Duration of loan and the property’s value also affect the bank loan rates.
High loan amounts at low-interest rates
Free credit card and accident insurance
0.25% discount on car loan taken with home loan
Option to top-up five times during the loan tenure
Fast approval
Zero prepayment charges with a floating rate of interest
Attractive and affordable interest rates
BOB decides the eligible loan amount depending on the repayment capacity and other factors (age, income, dependents, assets, liabilities, occupation stability, etc.). BOB offers housing finance up to Rs.1 Crore for rural and semi-urban areas, up to Rs. 5 Crores in the metro cities, and a maximum loan amount of Rs. 10 crores for borrowers in Mumbai.
If you have applied online, you can track your Bank of Baroda home loan application status by logging in to the Bank of Baroda's official website. If you have applied offline, you can track your application status by contacting your relationship manager.
Bank of Baroda grants housing loans up to a maximum of 30 years and shall under no circumstances exceed the retirement age or 65 years of age, whichever is earlier.
Yes, a top-up home loan on your existing Bank of Baroda Home Loan is approved if your eligibility matches BOB's predefined terms and conditions.