|BOB Loan Amount||Rs 2 Lakh to Rs 10 Crore|
|Interest rate||8.20 % to 13.85%|
|Tenure||Up to 15 years|
|Processing fee||Term Loan: Up to 1%|
Overdraft: Up to 0.35%
Get max LAPs up to 10 Cr in metro cities, 5 Cr at urban areas, 3 Cr at semi urban and 25 Lakhs at rural branches.
Additional Reading: How to get loans for bad credit?
Bank of Baroda LAP interest rate vary according to the borrower’s credit profile, property value and product category.
BOB Rate of Interest for LAP:
|Category||Tenure: Up to 120 months||Tenure: 120 to 180 months|
|Mortgage Loan up to Rs 7.5 Cr||8.20 % to 13.10 %||8.70 % to 13.60 %|
|Mortgage Loan above Rs 7.5 Cr||8.45 % to 13.35 %||8.95 % to 13.85 %|
Mortgage loans are available against immovable properties, such as:
Loan Amount: Rs. 2 lakhs to 10 crore
Eligibility for amount is assessed basis following income criteria:
Gross Monthly Income up to Rs. 75,000: Approval for 30 times of GMI
Gross Monthly Income above Rs. 75,000 up to Rs. 3 lakhs: Approval for 48 times of GMI
Gross Monthly Income up to above Rs. 3 lakhs: Approval for 60 times of GMI
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
Term loan: 120 months
Overdraft: 12 months; Subject to Annual Review
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):
Non-Resident Indians (NRIs):
*HUF/ Trust/ Public limited company are not eligible to apply for BOB Mortgage Loan.
Additional Reading: How to check free cibil score?
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 LAP documents required:
|Type of Charge||Description|
For Term Loans:
ODs up to Rs 3 Crores:
Above Rs 3 Crores:
|Inspection||Rs. 100 plus GST|
*applicable after 2nd instance only
|Legal opinion & valuation||As applicable|
|Mortgage creation||As applicable|
|Stamp duty, property registration etc.||As applicable|
|Commitment charges||0.50% on unutilized portion|
*applicable on ODs where average quarterly usage remains more than 60% unutilized
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 calculation for the lowest LAP interest rate offer form Bank of Baroda @8.20 p.a. for 5, 10 & 15 years in the range of 10 lakh to 50 Lakh:
|EMIs for 5 years||EMIs for 10 years||EMIs for 15 years|
Additional Reading: How to calculate credit score?
|Bank/NBFC||Interest Rate||Processing Fee|
|Bank of Baroda Loan Against Property||8.20 % onwards||Up to 1 %|
|IDFC First Loan Against Property||7.35% onwards||Up to 3 %|
|HDFC Loan Against Property||8.00% to 8.95%||Up to 1 %|
|SBI Loan Against Property||8.45 % onwards||Up to 1 %|
|Kotak Mahindra Bank Loan Against Property||9.50% onwards||Up to 1 %|
|Bajaj Finserv Loan Against Property||8.25% to 18 % p.a||Up to 6%|
Additional Reading: How to check cibil defaulters list?
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:
Bank of Baroda Overdraft (Against Land & Building)
Additional Reading: Credit rating agencies in India
Resident Indians can contact Bank of Baroda loan helpline on following toll-free numbers:
1800 258 44 55
1800 102 44 55
For NRIs helpline numbers are:
+91 79-49044100 or +91 79-23604000
The lender has pan India presence. You can also reach out to the nearest branch for resolution of your queries.
Corporate office address:
Bank of Baroda,
Baroda Corporate Centre, Plot No. C-26, Block G,
Bandra Kurla Complex, Bandra (East), Mumbai 400051
Telephone: 022 6698 5000-04
Fax 022 2652 3500
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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.
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.
Yes, you can apply for a top up as well as OD facility with your Bank of Baroda loan against property. The eligibility will be based on your past repayment record and overall credit profile.
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.
You can foreclose your Loan Against Property account. A stipulated foreclosure fees will be applicable as mentioned in the loan agreement.
Bank of Baroda extends Loan Against Property up to 10 Crores. The approval is based for up to 60% of the market value of collateral attached.