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Bank of Baroda Home Loan EMI Calculator

Last Updated 22nd May 2017

Bank of Baroda Home Loan - Lowest EMI is Rs. 0 per lakh

• Get monthly EMI as low as Rs. 0 per lakh with Bank of Baroda now offering home loans with loan tenure upto 30 years.
• Lowest home loan interest rate currently offered by Bank of Baroda is %, for which the EMI per Rs. 1 lakh loan amount comes to Rs. 0 for a 15 year loan and Rs. 0 for a 20 year loan.
• Check the EMI for other tenures using the Bank of Baroda home loan EMI calculator on this page.
Home Loan EMI Calculator
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Home Loan EMI Calculator Bank of Baroda

Bank of Baroda Home Loan EMI

• Home Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to Bank of Baroda against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
• With Bank of Baroda offering Home Loans with loan tenure upto 30 years, the loan EMI can be as low as Rs. 0 per lakh, to make it more affordable and convenient to meet your needs. Lowest Rate of interest offered by Bank of Baroda on Home Loan is %.
• Loan Tenure
Loan Amount (Rs.) 15 years20 years30 years
2,500,000 0
5,000,000 0
7,500,000 0
10,000,000 0
• This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.

Bank of Baroda Home Loan EMI calculator formula

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how Bank of Baroda Home Loan EMI is calculated:

In above formula,

P = Loan amount. This can range from Rs. 1,500,000 to Rs. 100,000,000

r = Rate of interest per month. Current rate is %, which is linked to Bank of Baroda 1 Year MCLR, which is currently 8.35%. Last revised on 07th May 17

n = tenure in month. For Bank of Baroda, this can be 360 months

Will the Bank of Baroda home loan EMI remain constant or change in future? What happens in case of increase or decrease in interest rate?

• Typically, the home loan EMI remains unchanged unless the customer requests for a change and the same is approved by Bank of Baroda subject to its eligibility conditions (note that nominal charges may apply for effecting a customer initiated change in EMI)
• In case the floating rate of interest on your home loan increases, Bank of Baroda will typically keep the EMI constant but increase the loan tenure. So, you will pay the same EMI but for a longer duration. In case the interest rates increase to an extent that the revised loan tenure is more than the maximum permissible by Bank of Baroda, the bank may increase your EMI amount.
• For partly disbursed loans availed under tranched EMI scheme, your loan EMI will increase with each disbursement.

Will home loan EMI change in case of prepayment?

• Bank of Baroda allows prepayment at nil charges or penalty in case of floating rate home loans.
• When you make a prepayment, the outstanding principal amount on your home loan reduces. In this case, you may choose to either keep the EMI the same and reduce the loan tenure (that is pay off the loan faster) or reduce the EMI and keep the loan tenure the same (that is pay lesser amount every month). It is beneficial to keep the EMI constant and reduce the loan tenure as you pay less interest to the bank in this option.

Bank of Baroda Home Loan News - May 2017
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