Total EMI


Total Interest


Total Payments


Break-up of Loan Amount
Created with Highcharts 4.2.2 50,00,000 69,80,559 Total Interest Principal Loan Amount
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About Bank of Baroda Home Loan

One of the leading banks in India, Bank of Baroda provides a plethora of services to their customers to help them manage their financial needs. These services cater to individuals, corporates, private businesses, and several other investment banking sectors. You also have the advantage of housing loan offers that let you purchase or construct your dream home. The rates of interest offered upon the Home Loans by Bank of Baroda are competitive and you can avail your loan in a few simple steps with minimal documentation.

If you are applying for a Bank of Baroda Home Loan, you have the option of using it for several purposes such as:

  1. Buying a new home or resale property
  2. Buying a plot of land to construct a residential property
  3. Constructing a property
  4. Extension or renovation of an existing property
  5. Transferring an existing Home Loan from another bank to Bank of Baroda

Bank of Baroda Home Loan EMI Calculator

The equated monthly instalment or EMI Calculator is one of the most important tools when you are borrowing a Home Loan. You are able to accurately determine the EMI that you have to pay against a given loan plan. This allows you to plan your finances accordingly or make adjustments in the loan that you borrow to avail an affordable EMI. In the case your EMI does not match the expectation or is over the calculated monthly budget, you have the option of making changes in the loan amount to ensure that you are able to repay the EMI easily. The online tool takes into consideration all the interest rates offered on the loan, saving you a lot of time that you would spend in calculating this amount manually. It also eliminates the chances of errors with manual calculations and helps you arrive at an accurate figure.

The Home Loan EMI is the amount that you will be paying each month to Bank of Baroda towards the loan. The bank determines a fixed date each month before or on which the EMI must be repaid.

The tenure of the Home Loan determines the amount that you will be paying as EMI each month. The longer the tenure of the loan, the lower the EMI that you have to pay. In case of Bank of Baroda, you can get up to 30 years to repay a Home Loan, making your EMI as low as 780 per lakh that you borrow. Bank of Baroda also offers attractive rates of interest, starting from as low as 8.65%, making it easier for you to repay your loan.

Following are the EMIs on Bank of Baroda Home Loan using MyMoneyMantra's EMI Calculator at different tenures and at an interest rate of 8.65%.

Loan Amount

Loan Tenure


15 years

20 years

30 years

















The table above shows how the EMI varies for different tenures of the loan. In this table, the EMI has been calculated for 15, 20 and 30 years. Clearly, a longer tenure attracts a lower EMI while a shorter tenure attracts a higher EMI.

The EMI that you pay is made up of two components, namely the principal amount and the interest. As you repay your loan, the EMI remains constant. However the interest to principal amount ratio varies. With each EMI that you pay, the principal amount component will increase while the interest component will reduce.

The below-mentioned table shows the interest calculation for various Home Loan tenures. The Home Loan amount in the below table is 1 Lakh with the rate of interest of 8.65%.

  5 years 10 years 15 years 30 years

EMI when loan amount is 1 Lakh @ 8.65% interest rate





Total amount payable to bank (principal + interest)





Interest payable over the loan tenure





With this table, we compare the EMI for different loan tenures. However, given the interest rate of 8.65% on the loan amount, the amount that you pay as interest for a longer term will be much higher. For instance, you are liable to pay 23,533 towards the interest component for a loan of 1 Lakh over a 5 year term. This is very less than what you will pay towards a loan with a 30 year term.

While EMI reduces with the loan term, the amount shelled out towards interest is significantly higher. Keeping the various loan parameters in mind will help you figure out a loan scheme that is suitable to your requirements without the EMI becoming a financial burden.

Highlights of the Bank of Baroda Home Loan

Bank of Baroda aims at simplifying Home Loan process and making it more affordable to customers. For this, there are several benefits that are provided to customers. Some highlights of Bank of Baroda Home Loans are as follows:

  • Purpose of the loan: The loan is available for construction, purchase or repair and renovation of residential properties. You can also avail the loan to purchase land to construct a house.
  • Bank of Baroda offers loans to both salaried and self employed individuals
  • The age group of the borrower should be between 21 to 70 years
  • This is a secured loan with the home that you are planning to buy, construct or renovate provided as security.
  • You have a loan to value ratio of 90%
  • You get a repayment tenure of up to 30 years
  • The lowest rate of interest offered is 8.65%
  • The lowest EMI payable is 780 for per Lakh
  • The processing fee is minimal at 0.50% of the loan amount subject to a minimum of 7,500 and a maximum of 20,000.
  • Special schemes: Among the many Home Loan schemes from Bank of Baroda, there are also customised schemes of Home Loans that cater to a special category of borrowers that include senior citizens, women, low income group, and so on. Some popular PNB Home Loan schemes are:
    • Baroda Home Loan Advantage
    • Baroda Home Suvidha Personal Loans
    • Baroda Pre Approved Home Loan
    • Pradhan Mantri Awas Yojana

Bank of Baroda EMI Calculator Formula

The formula used by the EMI calculator is P*r* (1+r)^n/([(1+r)^n]-1)

Here, for Bank of Baroda Home Loans:

P = Loan amount which ranges between 15 Lakhs to 10 Crores

r = Rate of interest/month, which is 8.65% at present and is linked to Bank of Baroda's 1-Year MCLR. The same was revised on 7 March 2019 and stands at 8.65%.

n = Tenure in months, which can be maximum 360 months for Bank of Baroda Home Loan.

Factors Affecting Bank of Baroda Home Loan EMI

The EMI on your Home Loan depends upon several factors, such as:

  • The amount that you borrow as the loan is the first factor to determine your loan amount. When the loan amount increases, the EMI will also increase. With Bank of Baroda, the loan amount offered as Home Loan varies from 15 Lakhs to 10 Lakhs.
  • The next important factor is the rate of interest offered on the loan. The current rate offered by Bank of Baroda is 8.65%. If this rate of interest increases, the EMI also increases.
  • Your employment status is an important factor in determining your EMI. For salaried individuals, the loan amount is lower in comparison to those who are self-employed.
  • There are different loan schemes offered by Bank of Baroda. Depending upon the loan that you opt for, the amount also varies.
  • For existing Bank of Baroda customers, the interest rate on the loan is much lower.

Tips to Decide the Right Amount of EMI

It is hard to determine how much EMI is most suitable for you. It is possible that you may under or overestimate the EMI. The latter is a bigger issue as you will not be able to plan your budget if the outgoing is much higher than expected. There are some tips to help you plan your EMI well.

  • Choose the loan amount correctly: Determine the amount that you will require as a loan to begin with. You should also calculate how much loan you are eligible for. This depends entirely on the value of the property that you want to invest in. Try to apply for the lowest Home Loan amount possible as you also have to pay an interest on the amount that you borrow.
  • Make sure you have checked your financial obligations: It is important to check all your financial obligations thoroughly before making any additions to it. The EMI is an added expense and should fit into your budget without affecting your routine expenses. This will also allow you to make changes in your current budget to accommodate the EMI that you are likely to pay once you have applied for a Home Loan.
  • Ensure that you are eligible for the loan plan that you want: Even if you do find a loan plan that suits your requirement, you have to make sure that you are eligible for the loan to begin with. Repayment capacity is one factor that you should consider. In addition to this, you should also be able to pay the margin required by the bank. In the case of Bank of Baroda, the maximum loan-to-value (LTV) available is 90%. This means that you will have to arrange for 10% of the final amount needed on your own. You can choose from plans that offer a higher LTV, but they will attract higher rates of interest.
  • Calculate your Fixed Income to Obligations Ratio (FOIR): This FIOR is calculated by the bank before approving your loan. FIOR is determined by taking into consideration several factors like your current expenses and your income. This allows Bank of Baroda to ensure that you have the repayment capacity for the loan that you are applying for. In order to be eligible for a Home Loan with Bank of Baroda, having a FIOR of 0.65 is a must.

Change in EMI with a Change in Interest Rate

  • It is quite uncommon for the EMI for any Home Loan with Bank of Baroda to change. It is possible for the borrower to request the bank to change the EMI. This is done with a certain fee required to initiate this change in the EMI.
  • Some loans are offered with a floating rate of interest. Normally, the tenure is increased to ensure that the increased interest rate is accommodated within the regular EMI. However, if the tenure cannot be increased or has reached the limit, the EMI may be increased.
  • If you have borrowed under the tranched EMI scheme, the EMI increases with every disbursement made on the loan amount.

Change in EMI on Prepayment

You have the option of prepaying your EMI with no additional costs with Bank of Baroda Home Loans. There are some factors that you need to consider with prepaying your EMI:

  • In case the loan amount is borrowed with a fixed rate of interest, you may have to pay a prepayment penalty.
  • As you make prepayments, the principal amount of your loan will increase. You also have the option of reducing the tenure of the loan and retaining the EMI. You can also retain the loan tenure and pay a lower EMI. However, when you reduce the tenure of the loan, you are able to repay it much faster. This means that the amount that you pay as interest will be lowered significantly. You can choose the best option for you based on your financial requirements and repayment capacity.

Importance of Calculating EMI before Taking a Bank of Baroda Home Loan

When you know the exact EMI on the Home Loan, you will be able to prepare accordingly. Calculating the EMI on your loan amount has several benefits such as:

  • The loan amount and tenure can be adjusted in case you notice that the EMI amount is higher than what you had estimated.
  • You can curb unwanted expenses and make adjustments in your monthly budget to ensure that the EMI is repayable.
  • You can plan to prepay the loan or foreclose the loan earlier to reduce the interest that you pay on the loan.

How to Use Bank of Baroda Home Loan EMI Calculator on MyMoneyMantra?

The online Home Loan EMI Calculator on MyMoneyMantra is one of the simplest financial tools available. All you have to do is follow a few simple steps to calculate the EMI on your loan accurately. Here is a breakup of the steps that you have to follow in order to calculate your EMI on MyMoneyMantra:

  • Log on to MyMoneyMantra
  • Under the finance tools tab, you can choose the EMI calculator
  • Provide the necessary parameters of the loan such as the tenure, the loan amount, and the interest rate to generate your EMI instantly.
  • It is also possible for you to make changes in these parameters to arrive at an EMI that is best suited to your requirements.
  • After you have arrived at a suitable EMI, you can check if you are eligible for a certain loan plan that you have opted for. This can be done with the eligibility calculator available online.
  • If you are eligible for the loan that you are looking for, you can promptly make an application on MyMoneyMantra. You have the advantage of tracking the status of your loan online.

Benefits of Using MyMoneyMantra's EMI Calculator

The accuracy of the EMI calculator on MyMoneyMantra makes it one of the most beneficial financial tools. In addition to this you have several benefits when you choose the MyMoneyMantra EMI calculator, such as:

  • You have access to the online EMI calculator whenever you need. You do not have to worry about any complex calculations or even verifying these calculations as this tool is accurate and extremely reliable.
  • The EMI calculator on MyMoneyMantra saves you a lot of time. You will not have to visit the bank or even sit with a consultant to know the exact EMI amount. In addition to that, you can also reduce the time spent on making these calculations manually.
  • The EMI tool on MyMoneyMantra, as mentioned above, is extremely reliable. It will take into consideration the type of loan plan, the interest offered, and other factors to ensure that the result is exact. You will not have to worry about any human error with manual calculations.
  • The EMI calculator is applicable not only on all Home Loan schemes but can also be used to calculate the EMI on any loan that you are looking for. That way, you can always stay ahead in planning your finances and ensure that you never have to miss a repayment date.

Bank of Baroda Home Loan Latest News

We are betting big on our housing loan portfolio, says Bank of Baroda's Chief Executive Director

 17th March 2018, The focused approach of Bank of Baroda towards Home Loan business is yielding tremendous results. The state-owned bank is now confident of increasing the market share of brand new Home Loans to 6% according to Executive Director, Ashok Kumar Garg.

Bank of Baroda Q1 Profit doubles to 528 crore

27th July 2018, State-owned Bank of Baroda claims that profits have doubled to 528 crores in the June Quarter. Within the retail loans, the growth of Home Loans stood at 43.47 %.

Bank of Baroda to Partner with South Korea's KB Financial Group

 10th July 2018, State-run Bank of Baroda will enter into a joint venture with KB Financial Group from South Korea to develop innovative payment initiatives that may also result in the issue of new branded cards.

FAQs - Bank of Baroda Home Loan

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

You can get up to 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?

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 they jointly own the property.

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

The list of close relatives is as follows:

  • Spouse
  • Mother (or stepmother)
  • Father
  • Son (including stepson)
  • Son's wife
  • Daughter (including stepdaughter)
  • Daughter's husband
  • Brother or sister (including stepbrother or sister)
  • Brother's wife
  • Sister or stepsister of spouse
  • Sister's husband
  • Brother or stepbrother of the spouse

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

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

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

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?

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?

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?

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, and so on, are accepted as security. 

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

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?

Yes, the 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.