Bank of Baroda Home Loan in Chennai
Last Updated : May 5, 2018, 11:19 a.m.
About Bank of Baroda Home Loan Chennai
Bank of Baroda (BoB) seems to be hitting the right notes ever since it announced its home loan rates to an industry low of 8.35% per annum for individuals with a CIBIL score of 760 and above. It further raised the excitement among the borrowers by allowing its base rate customers to switch to Marginal Cost of Lending Rate (MCLR) without paying any fee for the same. Usually, a fee is levied when you do that. Staying in Chennai and seeking home loan details of BoB? Get your eyes on to the information below.
Bank of Baroda Home Loan Chennai at a Glance
| Particulars | Details | |||
|---|---|---|---|---|
| Interest Rate | 8.50% - 10.60% | |||
| Loan Amount | About 75%-90% of the property value | |||
| Processing Fee | 0.25%-0.50% of the loan amount Minimum Value- ₹7,500 Maximum Value- ₹20,000 | |||
| Prepayment Charges | NIL |
Eligibility Criteria
A few eligibility parameters are required to be met before BoB would approve your home loan application in Chennai. Wanna know which are they? Read the points below.
- Salaried and self-employed with a minimum age of 21 years are eligible to apply for a home loan . At the same time, both salaried and self-employed need to make sure they are not over 60 years at the time of loan maturity .
- A stable source of income is a prerequisite. While salaried needs to be working for a minimum of 2-3 years, self-employed must remain in the same line of business for atleast 2-3 years.
Documentation
The documentation is an important aspect prior to the start of your dream home journey. So, a degree of attention is needed to make sure there is no discrepancy in the document submission. This would lead to a smooth approval and disbursal of the loan, giving you the keys to your dream home. The documents, which are supposed to be submitted, should substantiate the proofs for income, residence, identity, as well as some property related authentications. Know the required documents in the table below.
| Products | Salaried | Self-employed |
|---|---|---|
| Home Loan | Identity Proof- PAN Card/Passport/Voter ID/Driving License/Aadhaar Card Address Proof-Utility Bill/Passport/Aadhaar Card/Voter ID Income Proof-Latest Salary Slips & Form 16 for Salaried Bank Account Statement for the Last 6 Months Track of any other loans, if any Property details such cost estimate of construction | Identity Proof- PAN Card/Passport/Voter ID/Driving License/Aadhaar Card Address Proof-Utility Bill/Passport/Aadhaar Card/Voter ID Profit & Loss A/C Statement & Audited Balance Sheet for the Last 3 Years Bank Account Statement for the Last 6 Months Track of any other loans, if any Property details such cost estimate of construction |
Seeking more information? Visit Home Loan Chennai
Bank of Baroda Home Loan Chennai Branches
Since Chennai is one of the metropolitan cities of India, BoB has ensured to maintain a sizeable presence to fulfill the home dream of the people residing in the city, surrounded by the sea water. A table below indicates the BoB branches in your city Chennai, along with other useful information to glance at.
| Branch | Complete Address | IFSC | MICR | Contact Detail |
|---|---|---|---|---|
| Alwarpet | Alwarpet Branch, 252 A, Ttk Road, Alwarpet, Chennai- 600018 | BARB0ALWARP | 600012004 | 044-23454226, 27 |
| Ambattur | Ambattur Branch, 119, Mth Road, Ambattur, Chennai- 600053 | BARB0AMBATT | 600012002 | 044-26580339 |
| West Mambalam | West Mambalam Branch, 90 Arya Gowda Road, West Mambalamm, Chennai- 600033 | BARB0CHENBS | 600012031 | 044-23454325 |
| Choolaimedu | Choolaimedu Branch, Sjm House, 52, Nelson Manickam Road, Choolaimedu, Chennai- 600094 | BARB0CHOOLA | 600012005 | 044-23454249 |
| Siet.College | Siet.College Branch, K.B.Dasan Road Teynampet, Chennai- 600018 | BARB0COLMAD | 600012014 | 40-23454302/ 23454000 |
| E.C. Street | E.C. Street Branch, 3 Eraballu Chetty Street, Chennai, 600001 | BARB0ECSTRE | 600012006 | 44-23454259, 23454261 |
| Egmore | Egmore Branch, 52, Montieth Road, Egmore, Chennai- 600008 | BARB0EGMORE | 600012007 | 044-28553889 |
| RamavaramCorporate Financial Services | Ramavaram Branch, 1&2 Girinagar, Ramavaram, Chennai- 600089 | BARB0GIRINA | 600012023 | 044-23454295 |
| Corporate Financial ServicesK.K.Nagar | Corporate Financial Services Branch, Chennai | BARB0INFIMA | 600012022 | 044-23454251 |
| K.K.Nagar | K.K.Nagar Branch, 20, Dr.Natesan Road, K.K.Nagar, Chennai- 600083 | BARB0KKNAGA | 600012018 | 044-23454272 |
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