Apply for Bank Of Baroda Home Loan

Hassle-free Documentation Process | Doorstep Service | Secured Loan | Complete Transparency | Low Interest Rate

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20

Years Of Experience

About Bank Of Baroda Home Loan

Bank of Baroda Home Loan provides the necessary financial support for Home Buying, Home Renovation, Home Extension, and Plot Purchase. It is a secured loan that requires the borrower to provide collateral as a form of security.

LoanMoney is a registered and authorized Direct Selling agent of various National, Multinational, and Non-Banking Financial Companies. It provides a loan with minimum documentation, low-interest rates for a longer tenure, fast approval mechanism, low processing fees, and multiple repayment options. Apply for Bank of Baroda Home Loan through LoanMoney to get hazel-free get hassle-free financial support from India's leading Bank.

Features of Bank Of Baroda Home Loan

  • Low interest rates and processing charges: We offer among the best home loan interest rates, making it easier for you to own the home of your dreams. In addition, the processing charges on our home loans are minimal, and there no pre-closure charges.
  • You can also opt for group credit life insurance cover when you apply for a home loan. This cover protects the family against the death of the borrower, and the family is not required to repay the home loan to the extent of the claim amount. You can pay the premium for the cover along with the EMIs of your home loan.
  • Higher loan amount: You can improve your eligibility when you add a close family member as co-applicant to your home loan. This will enable you to receive a higher home loan amount.
  • Free credit card and insurance: With our home loan, you can enjoy a free credit card and concession of 0.25% for car loans. Additionally, we offer free accident insurance with every home loan.
  • Longer tenures: With a tenure of up to 30 years on home loans, you don’t need to worry about high equated monthly installments (or EMIs). Instead, easily repay your home loan in EMI amounts best suited to your financial needs.
  • Top up loans: One of the key benefits of our home loans is that you can apply for a top-up loan during your loan tenure, up to a maximum of five times.
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Details of Bank Of Baroda Home Loan

  • Interest Rate

  • Eligibility Criteria

  • Documents Required

  • General Information

Interest Rate

Fee Amount to be Paid
Rate of Interest 6.85% to 8.25%
Loan Processing Charges 0.50% Or Rs. 8,500/- To Rs. 25,000/- maximum
Cheque Bounce Charges NA
Cheque/ Instrument Swap charges NA
Prepayment/ Foreclosure Charges NA
Default Interest Rate NA
Duplicate Statement Issuance Charges NA
Duplicate Amortization Schedule Charges NA
Duplicate Interest Certificate NA
S(Provisional/ Actual) issuance Charges NA
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Bank Of Baroda Home Loan Eligibility Criteria

Age(Min-Max) 21 To 60 Years 21 To 65 Years 21 To 65 Years Minimum Income Min. 2,50,000/ p.a Min. 3,00,000/ p.a Min. 3,00,000/ p.a Co-applicant NA NA NA Loan Tenure Upto 30 Years Upto 30 Years Upto 30 Years Maximum Loan Amount Upto 5 Crore Upto 10 Crore Upto 10 Crore Employment/Business Continuity Min. 1 Year Min. 3 Year Min. 3 Year CIBIL Score Min. 600+ Min. 600+ Min. 600+
Particulars Salaried Self Employed Professional
Bank Of Baroda Documents Required

Document required for Salaried Employee

  • Proof of Identity
  • Proof of Address
  • Passport size photographs
  • Latest Bank statement
  • Last 3 months salary slip
  • Copy of PAN Card
  • Property Document:Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension
  • Form no. 16 for the last 3 financial years

Document required for Self-Employed and Professionals

  • IT Returns for the last three years
  • last IT assessment order
  • Audited Balance Sheet and Profit & Loss A/cs for last three years
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Bank Of Baroda General Information

Salaried Self Employed Professional
Age 21 To 60 Years 21 To 65 Years 21 To 65 Years
Loan Amount 10 Lakh To 5 Crores 10 Lakh To 10 Crores 10 Lakh To 10 Crores
Tenure Upto 30 Years Upto 30 Years Upto 30 Years
Rate of Interest / APR [Annual Percentage Rate] 6.85% to 8.25% 6.85% to 8.25% 6.85% to 8.25%
Features OD Facilities With Term Loan OD Facilities With Term Loan OD Facilities With Term Loan
Processing Fees 0.50% Or Rs. 8,500/- To Rs. 25,000/- maximum 0.50% Or Rs. 8,500/- To Rs. 25,000/- maximum 0.50% Or Rs. 8,500/- To Rs. 25,000/- maximum
Special NA NA NA
Documentation KYC/Financial(2 Years) & Property Documents. KYC/Financial(2 Years) & Property Documents. KYC/Financial(2 Years) & Property Documents.
Eligibility

All resident and non-resident Indians between 21 and 65years are eligible for our home loans.

  • Purchase of new/old dwelling unit.
  • Construction of house.
  • Purchase of a plot of land for construction of a house.
  • Repaying a loan already taken from other Housing Finance Company / Bank.
  • Repayment period up to 30 years (floating rate option).
  • Reimbursement of cost of plot of land (purchased within 24 months)

All resident and non-resident Indians between 21 and 70years are eligible for our home loans.

  • Purchase of new/old dwelling unit.
  • Construction of house.
  • Purchase of a plot of land for construction of a house.
  • Repaying a loan already taken from other Housing Finance Company / Bank.
  • Repayment period up to 30 years (floating rate option).
  • Reimbursement of cost of plot of land (purchased within 24 months)

All resident and non-resident Indians between 21 and 70years are eligible for our home loans.

  • Purchase of new/old dwelling unit.
  • Construction of house.
  • Purchase of a plot of land for construction of a house.
  • Repaying a loan already taken from other Housing Finance Company / Bank.
  • Repayment period up to 30 years (floating rate option).
  • Reimbursement of cost of plot of land (purchased within 24 months)

Self-Employed Documents

Application Form

Pay attention to detail while completing the form.

Identity Proof

Documents such as Aadhar Card, Passport, Voter ID, or Driver's License, to establish your identity.

Address Proof

Documents like Aadhar Card, Passport, Voter ID, or utility bills (electricity, water, gas) that show your current address.

Business Proof

Since you're self-employed, you'll likely need to provide proof of your business existence. This could be in the form of business registration documents, tax registration certificates.

Bank Statements

Your personal and business bank statements for the past six months to a year might be required to assess your financial stability.

Income Proof

This is a crucial part of the documentation. Bank of Baroda might require documents such as Income Tax Returns (ITRs) for the past few years, Profit and Loss statements, Balance Sheets, and possibly a certified CA/CS audit report.

Property Documents

Documents related to the property you intend to purchase, such as the Sale Deed, Agreement to Sell, Title Deed.

Educational Qualifications

Proof of your educational qualifications might also be required.

Photographs

Passport-sized photographs of the applicants.

Loan Application Processing Fee

A processing fee might be charged, and the receipt for the same will need to be submitted.

Self-Employed Eligibility

  1. Age Criteria: The applicant should be at least 21 years old and should not exceed the age of 70 years.
  1. Income and Profitability: Self-employed individuals, including professionals and businesspersons, are required to demonstrate a stable and regular source of income. Bank of Baroda typically considers the applicant's net annual income, which should meet their specified criteria.
  1. Business Continuity: The applicant's business should have been in operation for a certain minimum period, usually 3 years or more. The stability and profitability of the business play a crucial role in determining the loan eligibility.
  1. Credit History: A good credit history is essential. Applicants should have a healthy credit score and a record of timely repayment of loans and credit card bills.
  1. Loan Amount: The loan amount you are eligible for depends on your income, repayment capacity, and the value of the property being financed. Generally, banks offer home loans that cover up to a certain percentage of the property's value.
  1. Property Type: Bank of Baroda provides home loans for the purchase of various types of properties, including apartments, independent houses, and plots. The property should be located in an area approved by the bank.
  1. Co-applicants: Including a co-applicant (like a family member) with a steady income can enhance the loan eligibility and repayment capacity.
  1. Documents: Self-employed applicants are required to provide documents related to their business, income tax returns, financial statements, bank statements, and other relevant documents to support their income claims.

Quick Enquiry for Bank Of Baroda Home Loan

Share your contact details and talk with our experts to get an instant decision on your loan.

Check Your Eligibility

How much do you need?

EMI Calculator

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Purpose for Taking Home Loan

Home Buying

Buy your dream house or home that is within your budget.

Home Renovation

Make your home more beautiful by renovating your dream home.

Home Extension

Increase the amount of built-up space at your home using this loan.

Clients words

What our clients say

We pride ourselves on providing transparent and quality service to our clients, but you don’t just have to take our word for it. Read what our clients have to say about us.

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Job Varghese

Client

I am totally satisfied by loan money and the way it services its customers.... especially I thank and appreciate Ms. Somya as she is a great resource to the organization. She has been constantly assisting me from start till the end and has been a very prompt and sensible officer as she could offer the relevant deal for me.

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Vishwajeet Nanaware

Client

LoanMoney is really good in providing loan services. Particularly Chanchal, my loan assistant has great skills to communicate with her clients and understand their needs. She processed my personal loan on time. The rate of interest offered was lower than the others. it was overall a good experience with 100% satisfaction.

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Avlokit Kaushik

Client

This is my second time in have taken a loan from LoanMoney. Kavita has helped me a lot..very cooperative very helpful very fast. Thanku again.

FAQ of Home Loan

  • Who can apply for a Home Loan?

    Home Loan is available for salaried/self-employed as well as Professionals, Employees of public/pvt Ltd companies. Every bank has individual minimum criteria for net monthly income Rs. 25,000, age between 21 to 60 years, profession, CIBIL Score, job continuity, etc.

  • How long will it take for my Home Loan to be processed?

    Once you submit your application form and the required documents as per Bank's criteria, you can expect our approval and disbursal within 5 working days, provided everything is in order. All loan approvals are at the sole discretion of the bank.

  • What is the Cheapest Home Loan or Affordable Home Loan?

    An Affordable or cheapest Home Loan is a loan in which not only you can get an attractive interest rate starting from 10:75% to 18%, and you can get a quick Home Loan with minimum processing fees, No hidden charges. With our easy & minimal paperwork, and flexible EMI payment options will make it a hassle-free Home Loan.

  • What are Nil Foreclosure Charges in Home Loan?

    The term Loan foreclosure means that when a person does the full repayment of the remaining loan amount in one single & final payment instead of paying it back in multiple EMIs.

    Some banks don't allow foreclosure of the loan as they won’t get the interest from the borrower and some banks allow foreclosure of the loan but they charge a certain amount from the borrower. While taking a Home Loan to try to see if there is zero foreclosure charges or nil foreclosure charges facility available for borrowers. This can save your money which you was going to pay to the bank.

  • What are the features of Loanmoney's Fastest Home Loan?

    The features of Loanmoney's Fastest Home Loan are No Collateral or no Security, Easy Repayment options, Safety, Attractive Interest rates, It is Unsecured, Can be Obtained for any Purpose and Fast, Cheap & Reliable.

  • Do I need to provide any security or collateral to obtain Home Loan from Bank?

    No, you don’t have to provide any security, collateral or guarantee to obtain Home Loan from Bank.

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