Bank of Baroda
Loan Against Property

You can also Check How to calculate Base Rate Online.

Below is the comparison of Bank of Baroda Mortgage Loan Interest Rate 2024 with the LAP interest rates of other lenders. You can compare the different interest rate offered by top lenders and select the best option:

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.

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

• 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

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.

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 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.

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

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.