Bank of Baroda Home Loan Snapshot:
Loan Amount | Up to 90% of the property cost |
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Rate of interest | 7.95% – 9.30% |
Tenure | Up to 30 Years |
Lowest EMI possible | Rs. 730 Per Lakh |
Processing fee |
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Let’s quickly understand the top Bank of Baroda Home Loan features and find out the USP of BOB Home Loan.
Additional Info: Also check Bank of Baroda Balance Check Number
Also Read: Bank of Baroda Home Loan: 10 Frequently Asked Questions Answered Here
Here is the checklist of Bank of Baroda Home Loan eligibility criteria:
Additional Reading: Cibil Score Required for Home Loan
A BOB Home Loan’s Document List can be an exhaustive one. Thus you should take a professional help and go through the checklist prior starting Bank of Baroda home loan process.
Given below is the official list of documents required to apply for Bank of Baroda Home Loan:
Bank of Baroda Home Loan Documents List:-
Salaried Individuals | Self-employed Individuals, Professionals & Others | Farmers or Agriculturists |
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Last 3 months’ salary slips for applicants Guarantor: last 1-month salary slip |
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Form 16 and ITR for last 1-year for applicants and guarantor |
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Copy of Employee ID card |
| Land Revenue Records- Form 2,7/12, 8A |
Appointment/ Confirmation/ promotion/ increment letter as proof of duration of employment |
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6 months bank statement or Account No in case of BOB account |
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Salaried Individuals | Self Employed |
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Copy of employment contract (in vernacular language) | Business Balance sheet and Profit & Loss Account statement |
Copies of individual ITR for the last 2 years | Copies of individual ITR for the last 3 years |
Certified copy of latest salary slips for the last 6 months | A note about the nature of business or profession |
Copy of ID card issued by Employer | Business proof ( Any two valid registrations, Place of Business and Address Proof) |
Continuous Discharge Certificate, if applicable | Continuous Discharge certificate if applicable |
Copy of latest work permit | — |
Additional Info: Also check Documents Required For Home Loan
Bank of Baroda is trusted state owned bank. The rate of interest is calculated basis the following parameters as shared by the bank.
Currently BRLLR is 7.95% w.e.f.
RBI Repo Rate= 5.40%
Baroda BRLLR= Repo rate + Mark-Up (2.75%) + strategic premium (0-0.25%)
The Risk Premium of 0.05% will be applicable for customers not obtaining credit insurance cover.
Bank of Baroda Home Loan Rate of Interest:
Product | Rate of Interest |
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Baroda Home Loan & Baroda Home Improvement Loan | BRLLR to BRLLR+1.35% Effective rate: 7.95% to 9.30% *For Non-Salaried Customers additional ROI of 0.10% For Staff Members (Public scheme): BRLLR i.e. 7.95% |
Baroda Home Loan Advantage | Up to Rs 75.00 Lakh : Rate as applicable to regular Home Loan Above Rs 75.00 Lakh: 0.25% + ROI as applicable to regular Home Loan |
Baroda CRE Home Loan | 0.25% + rate as applicable to regular Home Loan |
Baroda CRE Home Loan (Advantage) | Up to Rs 75 Lakh: 0.25% + rate as applicable to regular Home Loan Above Rs 75 Lakh: 0.50% + rate as applicable to regular Home Loan |
Baroda Top Up Loan (Resident/NRIs/PIOs0) | Applicable interest rate on Home Loan + Strategic Premium + 0.60% |
*Thus, Bank of Baroda home loan interest rates will vary in the range of 7.95% to 9.30% p.a.
Additional Info: Best Home Loan Interest Rates @6.95
The Bank of Baroda will charge a unified processing Fee on approval of a home loan. It includes:
Let’s check the cost of these charges on your pocket:
Product details | Baroda Unified Processing Charges (Excluding GST) |
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Baroda Home Loan, Baroda Home Improvement Loan, & all other BOB Home Loans | Up to 50 Lakh: 0.50% of loan amount Above 50 Lakh: 0.25% of Loan Amount For staff members: Actual charges |
Baroda Top up Loans | 0.35% Minimum: Rs 5,000 (upfront) Maximum: Rs 12,500 |
Takeover of Home Loan (Resident /NRI/PIOs) | Rs 8,500 (upfront) |
In principal sanction/ Pre-approved Home Loan | 0.25% – 0.50% Rs 8,500/- (upfront). *Submission of property documents before the expiry of pre- approval letter, will make you eligible for processing charges as applicable to Home Loan only. |
Pre Closure Charges | NIL |
Additional Info: Bank Balance Check Number
The features of various BOB Home Loan schemes are:
Additional Info: Also Apply for Home Construction Loan
Pradhan Mantri Awas Yojana or PMAY is a Central Government’s pilot scheme that aims to provide affordable Housing credit for all Indians by 2022. The scheme offers credit linked PMAY subsidy on housing loan interest rate to first time home borrowers.
Additional Info: Also check How to Apply for Pradhan Mantri Awas Yojana
Lender | Maximum Loan Amount | Interest Rate | Processing Fee |
---|---|---|---|
Bank of Baroda Home Loan | Rs. 10 Crore | 7.95% – 9.30% | Up to 0.50% (minimum Rs. 8,500 & maximum Rs. 25,000) |
ICICI Home Loan | Up to 90% of property | 8.10%-8.95% | 0.50% – 2% or Rs. 1,500 (Rs. 2,000 for Mumbai, Delhi & Bangalore), whichever is higher + GST |
SBI Home Loan | Up to 90% of property cost | 7.55% – 8.25% | Up to 0.50% + applicable GST |
Axis Bank Home Loan | Rs. 5 Crore | 7.60%-8.05% | Up to 1%, minimum Rs.10,000 |
HDFC Home Loan | Up to 90% of property cost | 8.10%-8.90% | Up to 1.50% or Rs. 4,500 (whichever is higher) + applicable taxes |
Additional Info: Also Check Best Banks for Home Loan in India in 2022
Bank of Baroda gives Home Loans at 75% to 90% of value of the property, also known as Loan to Value (LTV).
Loan AmountMarginLTV Ratio
Up to 30 Lakh | 10% | 90% |
Above 30 Lakh up to 75 Lakh | 20% | 80% |
Above 75 Lakh | 25% | 75% |
Also Check: Best Home Loan for Salaried Person before applying for a loan.
To Calculate Bank of Baroda Home Loan EMI on own, use fastmudra Home Loan EMI Calculator.
Simply click on financial tools and choose Home Loan EMI Calculator. Share loan amount, rate of interest, and loan tenure. Instantly you will get access to Bank of Baroda Home Loan EMI and total repayable interest amount. You will also get an EMI amortisation schedule on your screen.
If you are looking for Bank of Baroda home loan interest rate calculator, you must understand that BOB applies a risk premium and charge on BRLLR. The risk weightage depends on your income, score & property value.
You can use different interest rate and EMI combinations to make an informed decision.
Loan Amount | 10 years | 20 years | 30 years |
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Rs.20 lakh | Rs.24,213 | Rs.16,667 | Rs.14,606 |
Rs.30 lakh | Rs.36,319 | Rs.25,000 | Rs.21,908 |
Rs.40 lakh | Rs.48,425 | Rs.33,333 | Rs.29,211 |
Rs.50 lakh | Rs.60,532 | Rs.41,667 | Rs.36,514 |
Rs.60 lakh | Rs.72,638 | Rs.50,000 | Rs.43,817 |
*For EMI calculation purpose, flat rate of Interest @ 7.95% p.a. is considered. The calculation is indicative only. Your EMI schedule will vary as per rate of interest offered to you.
Additional Info: Check 30 Lakh Home Loan EMI Apply Online.
You can contact Bank of Baroda for your queries and concerns through following channels:
Bank of Baroda Home Loan Customer Care Contact Points:
Toll Free Number for all customers except PMJDY holders & other government schemes (24×7):
Toll Free Number for PMJDY customers & other financial inclusion Schemes:
1800 102 77 88 (6:00 am to 10:00pm)
Missed Call Services:
Balance Enquiry: 8468001111
Mini Statement- 8468001122
24X7 Helpline for NRIs (from overseas locations)
+91 79-49044100
Head Office Address:
Bank of Baroda,
Baroda Bhavan,
7th Floor, RC Dutt Road
Vadodra- 390007, Gujarat
Call: (0265) 2316792
Email: cs.ho@bankofbaroda.com
Furthermore, you can also call customer care to check Bank of Baroda Home Loan Application Status or BOB Home Loan tracking. Share Loan ref number and details for checking the status of your home loan.
Additional Info: Also check Home Loan Customer Care Number
fastmudra is India’s largest phygital loan distributor. With trust of 70 lakh customers, we assure hassle free access to the best Home Loans up to 10 crore for housing loan borrowers in India. Our service is 100% free. We use latest technology and AI to serve customers across the length & breadth of our diverse country. Check Eligibility & Apply.
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