Bank of Baroda Home Loan EMI Calculator

Bank of Baroda Home Loan - Lowest EMI is Rs. 841 per lakh

Last Updated 04th Dec 2016
  • Get monthly EMI as low as Rs. 841 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 9.50%, for which the EMI per Rs. 1 lakh loan amount comes to Rs. 1,044 for a 15 year loan and Rs. 932 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 Bank of Baroda

Bank of Baroda Home Loan EMI Calculator

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. 841 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 9.50%.
  • Loan Tenure
    Loan Amount (Rs.) 15 years20 years30 years
    2,500,000 26,10623,30321,021
    5,000,000 52,21146,60742,043
    7,500,000 78,31769,91063,064
    10,000,000 104,42293,21384,085
  • 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 9.50%, which is linked to Bank of Baroda 1 Year MCLR, which is currently 9.25%. Last revised on 07th Nov 16
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 EMI Calculator News - Dec 2016
19th Nov 16 Bank of Baroda net profit in second quarter jumps four folds, bad loans decline
Bank of Baroda reported an increase in its net profit at Rs. 552 crores in July to September quarter as compared to Rs. 124 crores during same period last year. Provision for NPAs during the period reduced to Rs. 1,630 crores from Rs. 1,844 crores in same period of last year.
07th Nov 16 Bank of Baroda reduces its MCLR to 9.25 percent from 7th November, 2016
Bank of Baroda has reduced its marginal cost of lending rate by 0.10 percent at 9.25 percent for one year and three year periods. The overnight and six month lending rates are reduced to 9 percent and 9.20 percent respectively. The five year lending rate is reduced to 9.45 percent. The new rates will be effective from 7th November, 2016.
25th Aug 16 Bank of Baroda total business takes Rs 90,000-cr hit in FY16
Bank of Baroda total business has reduced by Rs. 90,000 crore in FY16 due to shrinking loan portfolio and deposit base. Bank has seen a drop of 10.3 percent in credit growth and 7 percent in deposits. Total business of the bank declined to Rs 957,808 crore at the end of March 2016 against Rs. 1,045,625 crore a year ago. Total deposits of the bank reduced to Rs 574,038 crore in FY16 from Rs 617,560 crore in the previous fiscal while advances slipped to Rs 383,770 crore in FY16 against Rs. 428,065 crore a year ago.
27th Jul 16 Bank of Baroda partners with 7 Fintech companies
On its 109th Foundation Day, Bank of Baroda has taken an initiative to partner with fintech companies operating across different areas of SME Financing, Algorithmic Lending, Bill Discounting, Retail Lending and Wealth Management,. With this partnership the Bank would be able to launch new products, acquire new customers, and serve the existing customers on MUCH . Bank of Baroda has partnered with sevenFintech companies which will help the bank expanding our business faster and reach out and support the customers in a better way.
25th Jul 16 Bank of Baroda partners with CreditMantri for lending to first-time borrowers, SMEs
Bank of Baroda has partnered with Creditmantri , Chennai based fintech startup to process loan applications for first time credit seekers as well for those who do not have a credit score. With this partnership Bank of Baroda can also lend to SMEs on a real time basis. This will enable the bank to offer low ticket credit products to even first time borrowers and expand into newer segments without the need for large scale investments. It will also help the bank reduce credit processing turnaround times by cutting down on need for expensive physical verification processes and expand into new, digitally aware consumer segments where existing credit bureau data is limited.
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