- Bank of Baroda offers home loans with low processing fees.
- Maximum loan amount at interest rate ranging from 6.75% - 8.25%.
Bank of Baroda home loan is one of the best home loans in India. The multi-purpose home loan offered by Bank of Baroda provides a unique and customer-friendly experience to the individual looking for a home loan. With the purpose to serve its customer a desired product, the interest rate on housing loan is very low without compromising on the loan amount margin. Read this article to know the rates and other details as follows:
- Interest Rates
- Processing fees
- Maximum loan amount
- Balance transfer option
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Table of Contents
Bank of Baroda Home Loan Interest Rates June 2021
Ranging from 6.75% - 8.25% per annum, Bank of Baroda provides an affordable rate of interest that helps individuals in keeping the EMI pocket-friendly. Some of the important details related to the Bank of Baroda Home Loan Interest Rate are provided in the below table. Do check them!
|Home Loan Interest Rate||6.75% - 8.25%|
|Tenure||Up to 30 Years|
|Processing Fee||0.25%-0.50% of the loan amount|
Minimum - INR 7,500
Maximum - INR 20,000
Bank of Baroda Home Loan Rates for Balance Transfer
If you are facing some difficulty in paying the EMI amount on your existing home loan due to higher interest rates, don’t worry the Bank of Baroda Home Loan Balance Transfer facility is here to help you. You can opt for this facility at affordable interest rates. With this facility, you can transfer your outstanding balance to the Bank of Baroda. Interest rates on your balance transfer facility will depend on the outstanding loan amount and they may be different for salaried and self-employed applicants. This will certainly help you in reducing the monthly installment amount.
There is one thing you must remember the lender will check your credit score before giving you the Balance Transfer facility. An individual with a score of 700 or above will be easily eligible for this facility. Individuals with a high credit score will also have higher chances of getting the balance transfer at low interest rates. Apart from this, the Bank of Baroda will also verify your property to check your eligibility.
How can you get lowest rate on home loans from Bank of Baroda?
If you match the eligibility criteria especially CIBIL score and your property should be in good location. CIBIL score of 650 or above is the minimum requirement of Bank of Baroda in addition to a regular source of income. All of this together can help you negotiate with the lender for a lower or lowest rate on Bank of Baroda home loan.