Bank of Baroda Home Loan in Chennai

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

ParticularsDetails   
Interest Rate8.50% - 9.50%
Loan AmountAbout 75%-90% of the property value
Processing Fee0.25%-0.50% of the loan amount
Minimum Value- ₹7,500
Maximum Value- ₹20,000
Prepayment ChargesNIL

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.

ProductsSalariedSelf-employed
Home LoanIdentity 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.

BranchComplete AddressIFSCMICRContact Detail
AlwarpetAlwarpet Branch, 252 A, Ttk Road, Alwarpet, Chennai- 600018BARB0ALWARP600012004044-23454226, 27
AmbatturAmbattur Branch, 119, Mth Road, Ambattur, Chennai- 600053BARB0AMBATT600012002044-26580339
West MambalamWest Mambalam Branch, 90 Arya Gowda Road, West Mambalamm, Chennai- 600033BARB0CHENBS600012031044-23454325
ChoolaimeduChoolaimedu Branch, Sjm House, 52, Nelson Manickam Road, Choolaimedu, Chennai- 600094BARB0CHOOLA600012005044-23454249
Siet.College Siet.College Branch, K.B.Dasan Road Teynampet, Chennai- 600018BARB0COLMAD60001201440-23454302/ 23454000
E.C. StreetE.C. Street Branch, 3 Eraballu Chetty Street, Chennai, 600001BARB0ECSTRE60001200644-23454259, 23454261
EgmoreEgmore Branch, 52, Montieth Road, Egmore, Chennai- 600008BARB0EGMORE600012007044-28553889
RamavaramCorporate Financial ServicesRamavaram Branch, 1&2 Girinagar, Ramavaram, Chennai- 600089BARB0GIRINA600012023044-23454295
Corporate Financial ServicesK.K.NagarCorporate Financial Services Branch, ChennaiBARB0INFIMA600012022044-23454251
K.K.NagarK.K.Nagar Branch, 20, Dr.Natesan Road, K.K.Nagar, Chennai- 600083
BARB0KKNAGA600012018044-23454272

 

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