Bank of Baroda Home Loan

About Bank of Baroda Home Loan

Bank of Baroda presently offering the lowest ever interest rate on a home loan. The bank has recently reduced its MCLR which has resulted in surprising lower rate. The bank offers funds for the purchase of a new or old house, construction of a flat or house, the plot purchase, improvement & extension of the home. There is also an additional for the customers who take the loan under Bank of Baroda home loan advantage scheme. To know more about the product, read further.

Home Loan

Eligibility & Quotes from top PSU & Pvt. Banks | Lowest Interest Rates | Comfortable Tenure

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    BoB Home Loan Interest Rate

    Interest Rate8.30% - 9.30%
    TenureUp to 30 years
    Processing Fee0.25%-0.50% of the loan amount
    Minimum- ₹7,500
    Maximum- ₹20,000
    Foreclosure ChargesNIL

    Details on Margin & Loan to Value (LTV)

    Home Loan CategoryLTVMargin
    Upto ₹30,00,00090%10%
    Over ₹30,00,000-75,00,00080%20%
    Over ₹75,00,00075%25%

    LTV indicates the portion of property value that can be financed by a lender to a borrower. Margin, on the other hand, is a percentage of the property value to be paid by a borrower to avail a loan from the lender.

    Max. Amount of Home Loan for Salaried Professionals

    Monthly IncomeExtent of Loan Disbursement
    Upto ₹20,00036 times of monthly salary
    Above ₹20,000-1,00,00048 times of monthly salary
    Over ₹1,00,00054 times of monthly salary

    How to apply for BoB Home Loan at Wishfin?

    Wishfin is an online platform that has an expertise in providing affordable housing loans. The company has tie-ups with top banks offering home loans at a rate that suits your budget and hence giving you the option to pay a low EMI. The experts make sure that you get the lowest rate and instant approval. So, apply for a home loan at Wishfin and enjoy a stay at your own house soon!

    BoB Home Loan Interest Rate EMI Calculator

    Like the loan amount eligibility, you can also calculate the EMI using an EMI calculator. The calculator takes into account the loan amount availed, the rate of interest and loan tenure to arrive at the sum. Here is an example for your reference.

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount

    EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

    Year Principal Interest Balance Amount

    Bank of Baroda Home Loan Documents List

    Age ProofPassport/PAN Card or Any Other Certificate from Statutory AuthorityPassport, PAN Card or Any Other Certificate from Statutory Authority
    Identity ProofPAN Card/Passport/Voter ID/Driving LicensePAN Card/Passport/Voter ID/Driving License
    Residence ProofPassport/Driving License/Voter ID/Ration Card/Telephone BillPassport/Driving License/Voter ID/Ration Card/Telephone Bill
    Income ProofSalary Slips for Past 3 Months

    Form 16 for Past 2 Years

    Last 6-month Bank Statement
    ITR for Last 2 Years

    CA-certified Profit & Loss Account and Balance Sheet of Last 3 Years

    Advance Tax Challans for Last 3 Years

    1-year Bank Statement (Both Self & Business)
    Processing Fee ChequeApplicableApplicable
    Property DocumentsPhotocopy of Property Title DocumentPhotocopy of Property Title Document

    BoB Housing Loan Eligibility

    ParametersSalaried ProfessionalsSelf-employed
    Age21-60 Years21-70 Years
    IncomeMust be earning reasonably sufficent to pay off the loanMust be earning reasonably sufficent to pay off the loan
    Job/Professional StatusMust have worked for atleast 2-3 yearsRequired to be in the same line of business for 2-3 years

    Types of Home Loan

    Bank of Baroda provides home loan under three categories, namely-

    • Baroda Home Loan Advantage
    • Baroda Pre-Approved Home Loan
    • Baroda Home Loan Suraksha Personal Loan

    Bank of Baroda Home Loan Eligibility Calculator

    Getting curious about the loan amount that can be financed to you by Bank of Baroda? Start using Home Loan Eligibility Calculator to figure out the amount. Well, the calculator works in an easy and hassle-free manner while computing the indicative loan amount. The calculator works on the principle of income and savings to arrive at the desired figure. To understand the function of the calculator in a simple manner, take the help of an example stated below.

    Instance– Harish earns a salary of ₹50,000 and saves around ₹20,000 every month. If he wishes to apply for a home loan at Bank of Baroda, then what will be his loan amount eligibility? Firstly, the calculator will determine per Lac EMI before arriving at the loan amount.

    Amount– ₹1,00,000

    Loan Tenure30 Years

    Rate of Interest8.35-9.35% p.a.

    Per Lac EMI- ₹758-₹830

    Loan Amount Eligibility-₹1,00,000 x Savings/Per Lac EMI

    -₹1,00,000 x ₹20,000/758 = ₹26.38 Lacs

    -₹1,00,000 x ₹20,000/830 = ₹24.09 Lacs

    So, Harish is expected to get a loan amount ranging within ₹24 lakhs to ₹26 lakhs from Bank of Baroda to buy a dream home.

    Bank of Baroda Home Loan Application Form

    You can download the application form from the official website of Bank of Baroda. Or, when you will apply at Wishfin, you will get the application form which you can fill and submit along with the listed documents. For a home loan, it is very important that all the documents are proper as it helps for the executives to get a faster approval from the bank and hence saves your time.

    Bank of Baroda Home Loan Statement

    Want to access the home loan statement at Bank of Baroda? Visit the branch and ask for the same. The concerned bank official will process your request and give you the home loan statement showing the details of EMI, interest and total payment on a specific date, along with the outstanding balance. Do check the statement regularly so that you can budget well to pay off the loan in a hassle-free manner.

    Bank of Baroda Home Loan Contact Numbers

    Dial the toll-free number- 1800 22 33 44, 1800 102 44 55 to get all your queries and complaints regarding the home loan resolved. Any queries, be it EMI, interest or payment schedule can be answered by the customer care executives of the bank. So, feel free to raise queries & complaints and embark on a happy home loan journey with Bank of Baroda.

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    EMI Calculator