Bank of Baroda
Home Loan

• Attractive BOB rate of interest for all ticket sizes & customer profiles.
• No bias basis loan amount, occupation i.e. salaried, self-employed & NRIs.
• Home Loan customers get complimentary Bank of Baroda Credit Card.
• Special Personal Loan scheme for Bank of Baroda home loan customers, with Rs 7500 processing fee waiver.
• Further enjoy concession of 0.25% on BOB Car Loan.
• BOB Home Loan EMI Holiday/ Moratorium can be applied for up to 36 months.
• Option to add a co-applicant for enhancing Bank of Baroda Housing Loan eligibility.
• Co-applicant may or may not be a joint owner of the property.
• BOB Home loan applicants also get free accidental insurance.
• Attractive rate of interest on Home Loan Top Up.
• Standardised documentation and processing for easy loan application.
• Complete transparency with respect to fees and terms of loan.
• Access to high-end banking technology for easy repayment of your loans.
• Efficient customer care service for quick resolution of queries/ grievance related to loan application.
• Get instant BOB digital home loan sanction to ease your dream home.
• Maximum Bank of Baroda Housing loan in semi urban & rural areas: 1 Crore        
  Maximum BOB loan in urban areas: 10 Crore     
  *18- month moratorium for under construction houses & buildings up to 7th Floor        
  *6- months additional moratorium (18+6) per additional floor (after 7th floor), subject to maximum moratorium of 36 months.
• Rate of interest linked to Baroda Repo Linked Lending Rate(BRLLR)
• BRLLR resets each month, thus customers will get latest applicable Bank of Baroda Housing Loan interest rate.
• Nil pre-closure charge. 

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 9.15% w.e.f.            
RBI Repo Rate= 6.50%       
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 - 2024 :

The features of various BOB Home Loan schemes are:

Baroda Home Loan

• Regular Baroda Home Loan scheme
• Home loan for purchase or construction/ extension of a new or old house, flat or plot.
• Baroda home loan is available to Indian Residents, NRIs and PIOs
• You can avail of a Top-Up up to 5 times during the loan period.
• The pricing is Risk-Based (Bureau score linked) for any Home Loan.
• Maximum loan amount:      
  -Rs 10 Crore in Mumbai      
  -Rs 5 Crore in other metros       
  -Rs 1 Crore in semi-urban and rural areas
• Max tenure of up to 30 years.
• Option to opt for up to 36 month moratorium over the tenure.
• Complimentary Credit Card for home loan borrowers.
• A concession of 0.25% on Car Loan interest rates.
• Further you also get free accident insurance with all Home Loan variants.
• You can also apply for group credit life insurance with BOB Home Loan.
• Opting for insurance will reduce risk premium on final ROI.
• Home Loan Balance Transfer facility is available.

Baroda Home Loan Advantage

• Baroda Home Loan advantage is linked to your Savings Bank Account.
• It is a Home Loan Scheme for purchase, construction or extension of a new or existing home or residential plot.
• Resident Indians, Non-Resident Indians with Indian passport, Persons of Indian origin with foreign passport, overseas citizens of India can apply.
• The balance in bank account reduces loan principal & thus slashes the interest burden.
• The EMI will be charged from Savings Bank Account linked.
• Home Loan Balance Transfer facility is available.

Baroda Pre-Approved Home Loan

• Instant sanction & preapproved home loan product.
• Assurance for home loan amount.
• You can use pre sanction letter to negotiate with property sellers and builders.
• Loan eligibility is assessed based on income & repayment capacity.
• Income documents to be submitted for pre-sanction.
• Processing charges of Rs.8, 500 + Service Tax (upfront & non -refundable) will be charged.
• Balance charges will be recovered in the later stage.
• In-principle approval is valid for 4 months from the time of sanction.
• Property papers will be required within 4 months of sanction issuance.

Baroda Home Improvement Loan/ Home Renovation Loan

• Loan for repair, renovation or improvement of an existing house or flat.
• You can also use the funds for purchase of furniture & fixtures such as water filters, air purifiers etc.
• Resident Indians, NRI, PIOs, OCIs can apply.
• Loan limits & terms as regular home loan.

Baroda of Baroda Home Loan Top up

• Top-up loan on your existing Bank of Baroda Home Loan.
• Top up extended to all profiles.
• The loan amount is based on the Standard Asset Classification.

Baroda Interest Subsidy Scheme for Housing the Urban Poor (ISHUP)

• Baroda ISHUP is a government-initiated housing loan scheme for urban poors including Low Income Groups (LIG) and Economically Weaker Sections (EWS).
• For EWS Loan households should be up to Rs 5,000.
• For LIG Loan households with an average income between Rs 5001 to 10,000.
• For salaried individuals, 48 times of the last 3 months gross salary.
• For others, a maximum of 4 times of the average last 2 years annual income.
• For EWS: Maximum home loan amount Rs. 1 Lakh for 20 years, subject to minimum of a 25 sq.mts house.
• For LIG: Maximum loan of Rs. 1,60,000 for a house of minimum 40 sq.mts.
• 5% subsidy on Net Present Value (of Rs. 1 Lakh) of principal amount.
• Additional loans, if needed would be at unsubsidized rates.
• No loan for purchase of plot.
• Minimum margin is 20%.
• Tenure is 20 years including moratorium period.

Credit Risk Guarantee Fund Scheme for Low Income Housing (CRGFS)

• A Credit Risk Guarantee Fund Trust has been established by the Ministry of Housing and Urban Poverty Alleviation, Government of India that provides guarantees of low-income Housing Loans.
• This trust provides credit risk guarantee against housing loans up to Rs 5 Lakh for borrowers from LIG & EWS.
• No third party guarantee or security is required.
• The Guarantee Cover extends to up to 90% of the amount in default for loans up to Rs 2 Lakh and up to 85% for loans above Rs 2 Lakh up to Rs 5 Lakh.
• Guarantee runs till max of 25 years or loan tenor (whichever is early).

Baroda Home Suvidha Personal Loans

• Personal Loan scheme for BOB Home Loan customers.
• It can be availed of for financing miscellaneous home purchase costs like insurance, registration, stamp duty, GST etc.
• The scheme is open to both Baroda Home Loans as well as takeover i.e. Balance Transfer to Bank of Baroda.
• Funding can be obtained for 100% of cost of insurance.
• As for other expenses 25% margin is placed.
• Nil Processing fees.
• Attractive interest rates.

The Bank of Baroda will charge a unified processing Fee on approval of a home loan. It includes:

• Processing charges
• Documentation charges
• Document verification/ vetting charges
• Pre-Inspection charges
• One time post inspection charges
• Advocate charges
• Valuer Charges for valuation
• Bureau Report charges
• CERSAI charges
• ITR Verification charges

Let’s check the cost of these charges on your pocket:

Here is the checklist of Bank of Baroda Home Loan eligibility criteria:

• All resident and non-resident Indians can apply.
• Both salaried as well as self-employed get best offers.
• The age of the applicant should be between 21-70 years.
• The minimum age of co-applicant is 18 years.
• All close relatives can be become co-applicant for Bank of Baroda Home Loan.
• Property location and present & future income is assessed to determine eligibility for home loan amount.
• To apply for BOB Home Loan, minimum salary should be Rs. 10,000 per month.
• To apply for BOB Housing Loan, minimum business income should be Rs. 2 Lakh per annum.
• The bank will also consider current financial obligations such as Car Loan, Personal Loan or Credit Card outstanding before calculating home loan eligibility.

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:-

A. Common Documents required by all resident Indian applicants including Co-Applicants & Guarantors:

• Duly filled application form
• 3 latest passport photographs
• Identity proof: PAN Card (mandatory for loan amount above Rs 10 Lakh) and any one from document from Driving License, Voter's ID, Aadhaar Card or Passport.
• Residence Proof (any one): Driving License, Registered Rent Agreement, Aadhaar Card, Passport, Ration Card or Voter ID.
• Last 1 year's loan account statement along with sanction letter (if any previous loan is active).
• Proof of assets held: LIC/ KVP/ NSC/ PROPERTY/ MF
• Assets and liabilities statement
• ITR Verification Report

B. Additional Documents List for Resident Applicants, Co-applicants & Guarantors

C. Common Documents for NRI, PIO or OCI Applicants:

• Duly filled application form with photograph
• Copy of Passport + Visa stamped
• Proof of Residence in India & Abroad:    
  • Any one from Driving License, Ration Card, Voter ID, Passport, Adhaar Card, Registered Rent Agreement.

• Details of a local contact person. Information required includes name, relation, address and contact number.
• Overseas Bank Account statement for the last 6 months, including salary account.
• NRE Savings Bank statement account for the last 6 months.
• Statement of accounts for all existing loan accounts for the last 1 year.
• Credit Check Reports from Overseas Credit Bureau
• PIO applicants are required to submit additionally any one of the following:
  • Photocopy of PIO Card, Current passport indicating India as the place of birth, Indian passport, if held earlier, parents or grandparents' passport substantiating the claim as PRO

D. Additional Documents for NRI/PIO

E.  Property Documents for all:

• Agreement for sale
• Blueprint or Copy of Approved Plan
• Non Agriculture Certificate
• Commencement Certificate, if applicable
• Completion Certificate in case of ready or old flat or house, as applicable
• Occupancy certificate in case of ready or old flat or house, as applicable
• Latest Property Tax receipt in case of old flat or house
• Society Registration Certificate in case of ready or old flat or house, as applicable
• Share certificate in case of an old house or flat, if applicable
• All payment receipts for builder or seller
• Development Agreement of Builder Registered Copy, if applicable

You can also Check PAN Numbers for Home Loan of All Banks 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 (24x7):

• 1800 258 44 55
• 1800 102 44 55 

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 of All Banks