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Bank of Baroda Home Loan Interest Rates

One of the lowest home loan interest rates available in India, Bank of Baroda home loan interest rates start at 7.95% p.a. Choose between different home loan schemes and get affordable interest rate offers based on your Bank of Baroda home loan eligibility. With minimal documentation, low processing charges and quick approvals, Bank of Baroda Home Loans confer a bundle of benefits.

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Bank of Baroda Home Loan Fees and Charges

ProductBank of Baroda Home Loan
Loan amountUp to 90% of the property cost
Rate of interest7.95% - 9.30%
TenureUp to 30 years
Lowest EMI possibleRs. 730 Per Lakh
Salary/IncomeRs 25000 & above
Credit ScoreAbove 650
Processing Fees for Home Loan, Home Improvement Loan
  • Up to  50 Lakhs: 0.50% of loan amount (Minimum  7,500 upfront and Maximum  12,500)
  • Above  50 Lakhs: 0.25% of Loan Amount (Minimum  7,500 upfront and Maximum  20,000)
Processing Fees for Top up Loans0.25% of loan amount (Minimum  5,000 and Maximum  12,500)
Processing Fees for Takeover of Home Loan 7,500 upfront
Processing Fees for in principal approval for Home Loan 7,500 upfront. 
If the applicant submits the property documents within the delivery of pre-approval charges, the balance amount for unified processing charges towards Home Loan only will be recovered.
Pre Closure ChargesNIL

Features of Bank of Baroda Home Loan Scheme

  • Bank of Baroda's housing loans can be applied for purchasing or constructing an existing house/flat, or buying or construction a new residential unit, or plot or for housing loan balance transfer.
  • The rates of interest for Bank of Baroda Home Loans start from 7.95% p.a.
  • Processing fee is competitive at up to 0.5% of loan amount.
  • Additional 5 bps interest concession for women borrowers
  • No hidden costs or administrative fees.
  • No prepayment charges.
  • Customers are entitled to complimentary credit card, concession on car loan and property insurance.

Additional Info: Also check Bank of Baroda Balance Check Number

Factors Affecting Bank of Baroda Home Loan Interest Rates

The home loan interest rates are basically as per a computation of lender’s internal costs of raising funds, and customer’s occupation, income level, type of property and repayment capacity.
Income: The income or monthly salary of an individual helps in identifying the interest rate. 

  • Loan amount: Generally, as the loan amount increases, the rate of interest increases too as banks offer concessional rate to small home loans. Besides other factors such as LTV and risk profile of customer determines the final rate.
  • Relationship with bank: Bank of Baroda offers reduced Home Loan interest rates to its existing customers. Thus if you already have a Saving Account or an active loan account and have a good credit history, you can certainly grab a great offer from BOB.
  • Type of loan: The interest rate may vary based on the type of Home Loan you have chosen.
  • Type of applicant: The bank offers different interest rates for salaried, self-employed, and women applicants.

Key Things to know about Bank of Baroda Home Loan Interest Rates

Bank of Baroda is one of the leading banks which provides various banking and financial services to its customers in order to support them with their requirements. It includes services like consumer, corporate, private and other investment banking services. The bank also provides a variety of housing loan schemes which enable them to buy or construct a house. 

The Home Loans offered by Bank of Baroda have affordable rates of interest with a simple procedure and hassle-free documentation. New Home Loans are linked to repo rate and change according to change in RBI’s benchmark lending rates. Presently BRLLR is 7.95% & the range for Bank of Baroda home loan interest rates is 7.95% to 9.30% p.a. 

You can reduce Bank of Baroda Home Loan Interest by:

Opting for a Shorter Tenure: The overall interest component is affected by the duration (tenure) of the Home Loan. The shorter is the tenure of the loan, the lower is the total interest paid. But the EMIs will be higher.

Increase EMIs: By increasing the amount of EMI or using regular prepayments, you can reduce the total interest component and prepay the loan faster.

Additional Info: Best Home Loan Interest Rates @6.90%

How to Calculate Bank of Baroda Home Loan Rate?

Bank of Baroda Home Loan Interest can be calculated with the help of Home Loan EMI Calculator. You can also choose to use the formula:

Interest Amount = Principal Loan Amount x Interest Rate x Time 

To use the calculator, share loan details like loan amount, interest rate and tenure and press submit button. Instantly you will get loan EMI, total repayment and total interest amount.

Using MyMoneyMantra Home Loan EMI calculator you will also get amortization schedule of the loan alongside graphical representation of the loan principal and interest. 

Additional Info: Also check 50 Lakh Home Loan EMI

Compare Bank of Baroda Home Loan Interest Rates with other banks

LenderMaximum Loan AmountInterest RateProcessing Fee
Bank of Baroda Home LoanRs. 10 Crore7.95% - 9.30%Up to 0.50% (minimum Rs. 8,500 & maximum Rs. 25,000)
ICICI Home LoanUp 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 LoanUp to 90% of property cost8.05% - 9.05%Up to 0.50% + applicable GST
Axis Bank Home LoanRs. 5 Crore8.10% - 8.45%Up to 1%, minimum Rs.10,000
HDFC Home LoanUp to 90% of property cost 8.10% - 9.00%Up to 1.50% or Rs. 4,500 (whichever is higher) + applicable taxes

Note: Now you can check your transaction made from saving account with Bank of Baroda Mini Statement Number service.

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Bank of Baroda Home Loan Interest Rates FAQs

What is the maximum loan amount allowed with Bank of Baroda Housing Loan?

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You can get up to Rs 10 Crores depending upon the individual risk based pricing and the location of the property in consideration.

Who can be a co-applicant for Bank of Baroda Home Loan?

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Close relatives (like spouse, parents, etc.) may be included as co-applicants even without being a joint owner. You can also add an individual who is not a close relative as long as he or she jointly owns the property.

Who is considered a close relative to become a co-applicant for a Home Loan?

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The list of close relatives is as follows:

  1. Spouse
  2. Mother (or stepmother)
  3. Father
  4. Son (including stepson)
  5. Son's wife
  6. Daughter (including stepdaughter)
  7. Daughter's husband
  8. Brother or sister (including stepbrother or sister)
  9. Brother's wife
  10. Sister or stepsister of spouse
  11. Sister's husband
  12. Brother or stepbrother of the spouse

Are there any pre-payment charges on Bank of Baroda Home Loans?

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There are no pre-payment charges on Bank of Baroda Home Loans

Will the processing fee for Bank of Baroda Home Loans be waived?

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The processing fee is waived 100% subject to  7,500 + GST for out of pocket expenses

What is the minimum age of eligibility for a Bank of Baroda Home Loan?

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The minimum age for the applicant is 21 years and for the co-applicant it's 18 years

What is the maximum repayment tenure with Bank of Baroda Home Loans?

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The maximum repayment tenure can extend up to 30 years with Bank of Baroda Home Loans

What can I offer as security against Bank of Baroda Home Loans?

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The property purchased or constructed is considered as a mortgage against the loan. If this is not feasible, Insurance Policies, Shares and Debentures, Government Promissory Notes, etc. are accepted as security. 

Is there any moratorium or holiday period available with Bank of Baroda Home Loans?

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You can get a holiday period of up to 36 months with Bank of Baroda Home Loans.

Is Bank of Baroda Home Loans available to Non Resident Indians?

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Bank of Baroda Home Loan is available to NRIs, PIOs, and OCIs as well who have adequate proof of income. The loan is available to salaried and self-employed individuals as well.