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Bank of Baroda Loan Against Property Details

Loan AmountRs. 2 Lakhs - Rs. 25 Crores
Interest rate10.85% - 16.50% p.a.
TenureUp to 15 years
Processing feeUp to 1% of the loan amount for Term Loan & up to 0.35% of the loan amount for Overdraft facility.

You can also Check Loan Against Property without Income Proof and ITR

Apply for IDFC Loan Against Property

Compare BOB Loan Against Property Interest Rate with Other Lenders

Below is the comparison of Bank of Baroda Mortgage Loan Interest Rate 2023 with the LAP interest rates of other lenders. You can compare the different interest rate offered by top lenders and select the best option:

Name of the LenderInterest Rate (% p.a.)
Bank of Baroda10.85% - 16.50%
State Bank of India10% - 11.55%
LIC Housing Finance9.70% - 11.55%
IDFC First Bank9.00% - 20.00%
Federal Bank12.60%
Home First 12.80% - 18.50%
HDFC Bank9.50% - 11.00%
Kotak Mahindra Bank9.15% - 10.50%
PNB Housing Finance9.25% - 12.45%
ICICI Bank10.85% - 12.50%
Tata Capital10.10%
Bajaj Housing Finance9% - 14%

Bank of Baroda Loan Against Property Interest Rates

BOB LAP interest rates vary depending on the loan amount, tenure, borrower’s category, credit score, product variant, and other factors.

Check Loan Against Property Interest Rate for the lowest LAP Interest Rates in Bank of Baroda.

Product VariantTenure Loan AmountEffective Interest Rate (per annum)
Baroda Mortgage Loan - IndividualsUp to 120 monthsUp to Rs. 7.5 Crores10.85% - 15.75%
Above Rs. 7.5 Crores11.10% - 16%
Above 120 months & up to 180 monthsUp to Rs. 7.5 Crores11.35% - 16.25%
Above Rs. 7.5 Crores11.60% - 16.50%
Baroda Mortgage Loan - Non-IndividualsUp to 120 monthsUp to Rs. 7.5 Crore with a margin of up to 50%11.60%
Up to Rs. 7.5 Crores with a margin above 50%11.10%
Above Rs. 7.5 Crore with a margin of up to 50%11.85%
Above Rs. 7.5 Crores with a margin above 50%11.35%
Above 120 months & up to 180 monthsUp to Rs. 7.5 Crore with a margin of up to 50%12.10%
Up to Rs. 7.5 Crores with a margin above 50%11.60%
Above Rs. 7.5 Crore with a margin of up to 50%12.35%
Above Rs. 7.5 Crores with a margin above 50%11.85%

An additional 0.50% Bank of Baroda overdraft interest rate will be charged above card rates for the BoB overdraft facility.

Bank of Baroda Loan Against Property Features & Benefits

  • Customised loan available against residential and commercial properties for residents as well as non-resident Indians.
  • BOB LAP is available as a Term Loan as well as an Overdraft.
  • BoB mortgage loan interest rates are competitive and range from 10.85% - 16.50% p.a.
  • Additional 0.50% BoB OD interest rate will be charged above card rates for the Bank of Baroda overdraft facility.
  • BoB mortgage loans are available for extended tenure of up to 15 years.
  • Minimum loan limit is Rs. 2 Lakhs and maximum loan limit is Rs. 25 Crores (in metro cities).
  • Processing fee applicable up to 1% for a term loan and up to 0.35% for an overdraft.
  • Loan is available for all purposes, except for speculation activities. 
  • Both individuals as well as non-individuals can apply for BOB LAP.
  • Balance transfer options are also available at attractive Bank of Baroda mortgage loan rate of interest.

You can also check for Loan against Agriculture Land

Bank of Baroda Loan Against Property Eligibility Criteria

Collateral:   
Mortgage loans are available against immovable properties, such as:

  • Residential property (House/flat)
  • Commercial property (Building/land & building)
  • Plot of land (not agricultural land)

Loan Amount: Rs. up to 25 crore  
Eligibility for amount is assessed basis following income criteria:

Salaried:  
Net Monthly Income up to Rs. 75,000: 50% 
Net Monthly Income above Rs. 75,000 up to Rs. 3 lakhs: 60% 
Net Monthly Income up to above Rs. 3 lakhs: 70% (For Doctors and practicing Chartered Accountants – 75% to 80%)

Others (self-employed & professionals:  
Gross Annual Income up to Rs. 5 lakhs: Approval for 5 times of GAI  
Gross Annual Income above Rs. 5 lakhs up to Rs. 8 lakhs: Approval for 6 times of GAI  
Gross Annual Income above Rs. 8 lakhs: Approval for 8 times of GAI

Repayment Period:   
Term loan: 180 months  
Overdraft: 12 months; Subject to Annual Review

Repayment Capacity:  
Loan is approved basis repayment capacity of the borrower. EMI will be assessed as under:

Gross monthly income up to Rs. 75,000: Up to 50% of GMI  
Gross monthly income above Rs. 75,000 to Rs. 3 lakhs: Up to 60% of GMI  
Gross monthly income above Rs.3 lakhs: Up to 70% of GMI

Resident Indians (RIs):

  • Eligibile profiles: Salaried/ Self-employed/ Business Persons/ Professionals/ Agriculturists.
  • Borrower should be employed or engaged in business or profession for at least 3 years.
  • Both primary and co applicants should have minimum Gross Annual Income of 3 Lakhs in last 3 years.  
  • Facilities available: Term loan/demand loan/overdraft

Non-Resident Indians (NRIs):

  • The applicant should hold a valid Indian Passport.
  • The borrower should have a regular employment/ business for a minimum of 2 years.
  • There should be a valid Job-Contract/ work permit for 2 years in foreign country.
  • The minimum Gross Annual Income for main applicant & co-applicant should be Rs 5 Lakhs in last 3 years.
  • Facilities available: Term loan/demand loan

*HUF/ Trust/ Public limited company are not eligible to apply for Bank of Baroda Mortgage Loan.

You can also check Loan Against Property Eligibility from Top Banks Online.

Documents Required for Bank of Baroda Loan Against Property

The primary as well co applicants need to submit documents to establish their citizenship, income, identity, address, age and property ownership. Here is a summary of Loan against property documents required

  • Dully filled loan against property form with passport size photos of all applicants.
  • Proof of Identity (any one): Aadhaar card, PAN card (mandatory), driving license and passport.
  • Proof of residence: Driving license, passport, Voter ID, rent agreement and latest utility bill.
  • Income: Salary slips for last three months, Form 16, business existence proof & bank statement for last 12 months (as applicable for profile).
  • Proof of income through other sources such as rent receipts, pension statement etc.
  • Proof of age: Birth certificate, LIC Policy, Employee ID and Domicile Certificate.
  • Chain of property title deeds.

Bank of Baroda Loan Against Property Fees & Charges

Bank of Baroda loan against property involves the following fees and charges apart from BoB mortgage loan rate of interest:

Type of ChargeDescription
Processing fees for Term Loan1% of the loan amount; Minimum Rs. 8,500 (upfront) per property & maximum Rs. 1,50,000 
Processing fees for Overdraft0.35% of the loan amount for overdrafts up to Rs. 3 Crores (minimum Rs. 8,500 upfront/per property & maximum Rs. 75,000) & 0.25% of the loan amount for overdrafts above Rs. 3 Crores (minimum Rs. 8,500 upfront/per property)
InspectionRs. 100 + GST (applicable after 2nd instance only)
Legal opinion & valuationAs applicable
InsuranceAs applicable
Mortgage creationAs applicable
Stamp duty, property registration etc.As applicable
Commitment charges0.50% on unutilized portion (applicable on ODs where average quarterly usage remains more than 60% unutilized)

Bank of Baroda Loan Against Property Offers & Schemes

Bank of Baroda offers mortgage loan as term loan, demand loan or an overdraft facility (only to Resident Indians).

Bank of Baroda Term Mortgage Loan: 

  • Term mortgage loan where EMIs are repaid each month.
  • EMI constitutes interest as well as principal amount. 
  • The loan is sanctioned basis borrower’s repayment capacity & property value. 
  • The property is pledged for a loan by bank.

Bank of Baroda Overdraft (Against Land & Building)

  • Overdraft facility is available for pre-owned land and building structure. 
  • The eligibility depends on the applicant's credit profile. 
  • The facility is not open for NRIs.
  • There is no fixed EMI structure.
  • The BOB OD Interest Rate is charged only for the amount utilised.

How to Calculate Bank of Baroda Loan Against Property EMI

You can conveniently calculate BOB Loan Against Property EMI with LAP EMI Calculator. Click on the EMI Calculator and enter details: Loan Amount, Interest Rate and Repayment Tenure.

Clicking on the calculate button and you will get loan EMI with amortization schedule. You can use different combinations to assess the loan affordability and make an informed decision.

The EMI will vary according to the loan tenure, interest rate and amount. Here is the calculation for the lowest bank of Baroda mortgage loan interest rate offer @10.85% - 16.50% for 5, 10 & 15 years in the range of 10 lakh to 50 Lakh:  

Loan Against Property EMI Calculation

Loan AmountTenure
EMIs for 5 yearsEMIs for 10 yearsEMIs for 15 years
10 LakhsRs. 21668Rs. 13690Rs. 11,272
20 LakhsRs. 43,335Rs. 27,380Rs. 22,544
30 LakhsRs. 65,003Rs. 41,071Rs. 33,816
40 LakhsRs. 86,671Rs. 54,761Rs. 45,088
50 LakhsRs. 1,08,338Rs. 68,451Rs. 56,360

You can also use HDFC Bank Loan Against Property EMI Calculator to find out how much you will save on interest and how it affects your Loan EMI.

How to Apply for Bank of Baroda Loan Against Property?

You can easily apply for the Bank of Baroda loan against property online. All you need to do is fill out the online loan BoB mortgage loan application form available on the official website of the bank by providing some basic details about yourself, the property to be mortgaged, and the purpose of the loan along with KYC. You can also fill out the physical form available at a nearby branch of the bank.  Alternatively, you can also apply for the BoB LAP from our web portal for quick processing.

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Pre-Approved Loan Against Property @9% p.a 

Up to Rs. 5 Crore loan against property can be availed by Salaried and self-employed applicants online as well as offline. The LAP can be used for applied for business expansion, long term working capital, debt consolidation, equipment purchase, medical exigency, education/ marriage of children, holiday and much more. Higher loan amounts are available for select customers.

Bank of Baroda Loan Against Property FAQs

✅ What types of property are accepted as collateral for Mortgage Loan from Bank of Baroda?

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Self-owned (including rented out) residential or commercial properties like shops and complexes are accepted for Mortgage Loan. You can also avail loan against plot.

✅ Can I avail a Top Up for my Bank of Baroda Loan Against Property?

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Yes, you can apply for a top up as well as OD facility and check BOB Overdraft Interest Rate. The eligibility will be based on your past repayment record and overall credit profile.

✅ Can I apply for Loan Against Property without income proof?

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Income proof is one of the prerequisites for a loan approval. The BOB assesses customer’s loan repayment capacity on the basis of net income. You can submit different types of income proofs other than salary proof and business income proof. The property rent receipts and pension statements are also acceptable as income proof.

✅ Can I close my loan account before the tenure?

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You can foreclose your Bank of Baroda property loan account. A stipulated foreclosure fees will be applicable as mentioned in the loan agreement.

✅ What is the maximum amount I can get as BOB loan against property?

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Bank of Baroda extends Loan Against Property up to 25 Crores. The approval is based for up to 60% of the market value of collateral attached.

✅ What is the rate of interest for loan against property in Bank of Baroda?

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At present, Bank of Baroda LAP Interest Rate ranges between 10.85% - 16.50% p.a.

✅ How much loan will I get against property?

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The Bank of Baroda offers loans against property amounts up to 60% of the market value of the property. However, doctors are eligible to get a loan amount of up to 65% of their property value.

✅ Which bank is best for loan against property?

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ICICI Bank, HDFC Bank, SBI, Kotak Mahindra Bank, and IDFC First Bank are some of the best banks to avail of a loan against property at affordable interest rates starting @ 9%.

✅ How do I settle a loan against my property?

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Here are some tips to settle a loan against my property:

  • Clear your high-interest loans first
  • Opt for debt consolidation facility
  • Use a big bonus or other windfall gains to make prepayments
  • Opt for a Loan Against Property Balance Transfer facility 

✅ What type of loan is loan against property?

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Loan against property is a secure loan that can be obtained against the mortgage of a residential or commercial property. You can check the features & benefits of Commercial Property Loan and apply online. 

✅ What happens if you don't pay a loan against property?

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You can face the risk of losing ownership of your mortgaged property in case you fail to pay a loan against property. The bank will have full control over the property mortgaged as the collateral and it can auction or sell the property to recover its unpaid dues.

✅ What is the rate of interest for a loan against property in Bank of Baroda?

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The rate of interest for a loan against property in Bank of Baroda ranges from 10.85% - 16.50% p.a. A 0.50% BoB overdraft interest rate will be charged above card rates for the Bank of Baroda overdraft facility.

✅ How much loan will I get against the property?

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You can get a minimum loan amount of Rs. 2 Lakhs and a maximum of up to Rs. 25 Crores (in metro cities) from the Bank of Baroda under loan against property, depending on your eligibility and requirements.

✅ Which private bank is best for a loan against property?

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At present, Kotak Mahindra Bank, HDFC Bank, and ICICI Bank are some of the best private banks for loans against property.

✅ Can a loan be taken against property?

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Yes, the Bank of Baroda offers loans up to Rs. 25 Crores against residential and commercial properties.

✅ Which types of properties are considered as collateral for the Bank of Baroda loan against property?

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Bank of Baroda offers loans against residential and commercial properties.

✅ How to pay my BOB Loan Against Property EMI?

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You can pay your BOB Loan Against Property EMI through the BoB World mobile app or by setting up an auto debit payment mode on your bank account.