Current Location : Delhi/NCR (Change)
Welcome Guest | Login | Register
Bank of Baroda
Bank of Baroda
3 on 5 from 1 ratings

Loan Details

Loan Amount
0 lakhs -
100 lakhs
Effective Interest Rate p.a.
10.25%

About the Bank of Baroda Home Loan


Bankrnof Baroda

rn

Bank of Baroda was established in Baroda in 1908. Bank ofrnBaroda is a pioneer in various customer centric initiatives in the Indianrnbanking sector. Bank is amongst first in the industry to complete anrnall-inclusive rebranding exercise wherein various novel customer centricrninitiatives were undertaken along with the change of logo. The initiativesrninclude setting up of specialized NRI Branches, Gen-Next Branches and RetailrnLoan Factories/ SME Loan Factories with an assembly line approach of processingrnloans for speedy disbursal of loans.Bank has achieved substantial progress in technology and is continuouslyrnintegrating multiple platforms of technology to generate synergies. Bankrncontinuously attempts to adapt to the dynamic economic environment whilernengaging in long term relationships to provide superior customer service. Bank’srnconstant endeavor to delight its customers, which is built on its strongrnfundamentals will make it stronger, more resilient and enable to achieve itsrnvision of to be the Most Admired Bank.

rn

Baroda Home Loan:


rn

Bank of Baroda offers easy Home Loans with a number ofrnconveniences to suit your budget. Bank of Baroda has variety of home loans tornoffer to his customers. Few of the available options are mentioned below:

rn
    rn
  • Purchasern of new / old dwelling unit.
  • rn
  • Constructionrn of house.
  • rn
  • Purchasern of plot of land for construction of a house.
  • rn
  • Repayingrn a loan already taken from other Housing Finance Company / Bank.
  • rn
  • Repaymentrn period up to 30 years (floating rate option).
rn

Benefits of availingrnhome loan from Bank of Baroda:

  • Free Personal Accident Insurance is availablernfor stipulated tenure.
  • Free Credit Card (BOBCARD – complementary forrnfirst year) to all Home Loan borrowers (first borrower) with loan limit of Rs.rn2 Lacs and above.
  • Concession of 0.25% in rate of interest for CarrnLoans.
  • Concession of 0.50% in rate of interest for Loanrnfor consumer durables.
  • Top up Loan (Baroda Additional Assured Advance –rnAAA) can be availed 5 times during loan period. (Minimum Rs.1/- Lac,  Maximum Rs.200/- Lacs or 75% of residual value ofrnhouse property after deducting 150% of outstanding loan amount of existing HomernLoan, whichever is lower).
  • As per current IT provisions – Interest on loanrnupto Rs.1.50 lacs per annum is exempt from income tax (Under section 23/24 (1)rnof the Income Tax Act). An additional deduction of interest upto Rs.1 lac isrnavailable to persons taking a loan for their first home upto Rs.25 lacs duringrnMarch 2013 to Feb 2014.
rn

Tenure:

rn

The loan can be repaid in a maximum period of 30 years takenrnunder floating rate option subject to the period up to age of retirement inrncase of salaried persons and 70 years in case of others

rn

Loan Amount:

rn

Monthly Income Up to Rs. 20,000 then loan amount can be 36rntimes of monthly income

rn

More than Rs.20, 000 & up to Rs. 1 lac then 48 times ofrnmonthly income.

rn

More than Rs. 1 lac then 54 times of monthly income.

rn

Maximum loan amount under Home loan product is Rs.100 lac,rnHowever, we provide maximum finance from  75% to 85% of the project costrnwithin over all cap of Rs.100 lac depending upon the purpose i.e. reimbursementrnof construction cost from own sources, outright purchase of flat, readymadernhouse.

rn

Documents required: Belowrnmentioned are the common set of documents that are required to avail home loansrnfrom Bank of Baroda.

rn
    rn
  • Photorn Identity Proof,
  • rn
  • Residencern /Address Proof,
  • rn
  • Proofrn of Age,
  • rn
  • Passportrn size photographs,
  • rn
  • Signaturern verification from existing banker along with copy of Bank statement forrn last six months.
  • rn
  • Copyrn of PAN CARD
  • rn
  • Copyrn of  the document to title of the property
  • rn
  • Inrn case of construction of house Approved plan, detailed estimated costrn of construction, certified by Architect along with title deed of thern property are required to be submitted.
rn

For salaried persons:
rnLast 4-6 months’ salary slip along with Form no. 16 for last 3 financial years.

rn

 Self employed/rnBusiness persons:

rn
    rn
  • Copyrn IT Returns for last three years along with last IT assessment order,
  • rn
  • Copyrn of Audited Balance Sheet and Profit & Loss A/c for last three years.
rn

Baroda Home Loans to NRIs/ PIOs


rnBank of Baroda presents yetrnanother innovative product in the form of Baroda Home Loans to NRIs / PIOs, arnunique housing loan facility designed especially for Non Resident Indians (NRI)rnand Person of Indian Origin (PIO). This loan is tailored to suit the needs ofrnNRIs/PIOs. Bank of Baroda also provide free personal accident insurance.

rn

Eligibility:

rn
    rn
  • Non-Residentrn Indians (NRIs) holding Indian passport or Persons of Indian origin (PIOs)rn holding foreign passport, singly or jointly. For this purpose Person ofrn Indian Origin means a citizen of any country other than Bangladesh /rn Pakistan / Sri Lanka / Afganistan / China / Iran / Nepal & Bhutan if -
  • rn
      rn
    1. hern at any time held Indian passport or
    2. rn
    3. hern or either of his parents or any of his grandparents was a citizen ofrn India by virtue of the constitution of India of the Citizenship Act 1955,rn or
    4. rn
    5. Thern person is a spouse of an Indian citizen or a person referred to inrn sub-clause (a) or (b) above.
    6. rn
    rn
  • Mustrn be employed/self-employed or having a business unit and staying abroad atrn least for 2 years.
  • rn
  • Mustrn have minimum gross annual income equivalent to Rs. 5 lacs per annum.
  • rn
  • Inrn case of salaried persons - 48 times of monthly income (average of last 2rn years income including incentive, commission, bonus etc.)
  • rn
  • Forrn others - 4 times of average (last 2 years) annual income.
  • rn
rn

Age: Minimum age must be 21 years. Age of the borrower plusrnrepayment period should not be beyond retirement age or 65 years whichever isrnearlier.

rn

Repayment Period:

rn
    rn
  • Maximumrn 15 years including moratorium.
  • rn
  • Paymentrn to be remitted from abroad through normal banking channels or out of fundsrn in NRE/ NRO accounts.
  • rn
  • Post-datedrn cheques drawn on NRE/ NRO account of the borrower are to be obtained.
  • rn
  • Closern relatives of the borrower in India may also repay the installments of suchrn loans, interest and other charges, if any, through their bank accountrn directly to the borrower's loan account.
  • rn
rn

Tenure:

rn

Maximum 15 years

Roof On Top Review

 
EMI Calculator

EMI
Rs 0