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Bank of Baroda Home Loan Interest Rates 2022

Bank of Baroda Housing Loan Interest Rate -Today

Last Updated 18th Jan 2022

Loan AmountBank of Baroda Repo Rate Home Loan Rate
Upto ₹ 30 Lakh6.50%
₹ 30 Lakh - ₹ 50 Lakh6.50%
₹ 50 Lakh - ₹ 75 Lakh6.50%
Above ₹ 75 Lakh6.50%
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Bank of Baroda Home Loan Rate

Bank of Baroda offers home loans to both salaried individuals and self-employed at a minimum rate starting at 6.50% up to 8.35%. Apart from the interest rate, the bank also has various other charges such as Bank of Baroda processing fee - that is charged over and above the loan amount, is non-refundable and has to be paid at the time of loan application and foreclosure and prepayment fee for closing or prepaying the loan before the loan tenure ends.

Bank of Baroda Home Loan Processing Fee and Other Charges

Bank of Baroda charges a minimum processing of ₹ 10,030 on home loan which is typically non-refundable and has to be paid at the time of loan application. In addition to processing fees, the bank also charges certain technical and legal charges which are explained to the customer during the loan process and are payable once the loan application proceeds further.

Processing Fees minimum processing fee of ₹ 10,030 to
Part Prepayment Charges Allowed
Foreclosure Charges Nil for floating rate home loans

Interest rates on Bank of Baroda Home Loans Schemes

Bank of Baroda offers a housing loan interest rate at 6.50%. If you want to avail of the home loan at the lowest rates, you should have a good CIBIL score, debt-income ratio and repayment capacity. In addition, Bank of Baroda home loan interest rates are lower for existing customers of the bank and individuals who are working with reputed corporations with a stable employment history.

Below-mentioned are Bank of Baroda home loan rates for multiple housing schemes.

Bank of Baroda Home Loan Scheme Interest Rates
Bank of Baroda Repo Rate Home Loan6.50% - 8.35%
Baroda Home Loan Advantage6.75% - 8.55%
Baroda Pre Approved Home Loan8.65% - 8.75%

Bank of Baroda Home Loan Interest Rate for Salaried and Self-Employed

The home loan interest rates in Bank of Baroda for salaried and self-employed is mentioned in the table below:

Home Loan Interest Rate for Salaried

Loan Amount Rate
Upto ₹ 30 Lakh 6.50%
₹ 30 Lakh - ₹ 50 Lakh 6.50%
₹ 50 Lakh - 75 Lakh 6.50%
Above ₹ 75 Lakh 6.50%

Home Loan Interest Rate for Self-Employed

Loan Amount Rate
Upto ₹ 30 Lakh 6.60%
₹ 30 Lakh - ₹ 50 Lakh 6.60%
₹ 50 Lakh - 75 Lakh 6.60%
Above ₹ 75 Lakh 6.60%

Bank of Baroda Bank Home Loan Interest Rate For Women & Govt Employee

Loan Amount Bank of Baroda Home Loan Rate For Women Bank of Baroda Home Loan Rate For Govt Employee
Upto ₹ 30 Lakh 6.50% 6.50%
₹ 30 Lakh - ₹ 50 Lakh 6.50% 6.50%
₹ 50 Lakh - 75 Lakh 6.50% 6.50%
Above ₹ 75 Lakh 6.50% 6.50%

Bank of Baroda Home Loan Balance Transfer Interest Rates

Bank of Baroda home loan balance transfer facility is ideal for existing home loan customers, who are paying high interest to their existing lender. Through this facility, you can transfer your existing home loan to Bank of Baroda at a lower rate of interest, without closing the account. However, you do need to check the foreclosure charges that you have to pay to your existing lender if it is a fixed rate loan. Currently, Bank of Baroda offers the loan balance transfer rate of 6.50%.

Illustration on Home Loan Interest Rate Bank of Baroda
Maximum Annual Percentage Rate (APR) 6.5% to 8.35%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: ₹ 1,00,000
  • Time period: 5 Years to 30 Years
  • Bank of Baroda Home Loan Interest Rate: 6.50% to 8.35%
  • Processing Fee payable to: NIL
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 632 for 30 Years ₹ 1,00,000 loan at 6.50% (lowest rate, longest time period) to ₹ 2,044 for 5 Years ₹ 1,00,000 loan at 8.35% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 6.5% to 8.35%
  • Total cost payable over loan tenure: ₹ 1,17,397 for 5 Years loan to ₹ 2,27,545 for 30 Years loan

FAQs

Has Bank of Baroda reduced home loan rates?

As per the current rates, Bank of Baroda has cut its home loan rates by 0.25% from 6.75% to 6.50%, which is one of the best rates in the market. The new rates are effective from 08 Apr, 2021.

Why should I opt for balance transfer to Bank of Baroda?

Bank of Baroda offers lowest Home Loan EMI of ₹ 632 per lakh availed at the lowest interest rate 6.50% for a maximum tenure of 30 years. If you are paying an EMI more than ₹ 632 per lakh, you should consider the option for a loan transfer to Bank of Baroda from your existing bank. Current Bank of Baroda balance transfer rate is 6.50%.

Can Bank of Baroda housing loan interest rate be negotiated?

Yes, if you have a good relationship with the bank and a high credit score, you can negotiate with Bank of Baroda to lower the home loan rates. Apart from the home loan rates, you can also negotiate over the processing fee.

Can Bank of Baroda revise the home loan interest rates for their existing customers?

Yes, Bank of Baroda offers concessional rates to the existing customers, and you can negotiate with the bank to offer you the revised home loans at a floating rate of interest. The floating interest rates on home loans vary as per the change in market trends or in external benchmark rates such as the repo rate.

Does Bank of Baroda offer a concessional home loan interest rate for women?

Yes, Bank of Baroda offers special home loan interest rates for women. As against Bank of Baroda home loan rates for male which is 6.50%, the home loan interest rate for women starts at %.

What is the Bank of Baroda home loan rate of ₹ 25 Lakh for 15 years?

For home loan upto ₹ 25 Lakh, Bank of Baroda provides home loan interest rate starting at 6.50%. However, you can get the lowest rates if you have a good relationship with the bank, work with top corporations, have a good CIBIL score and have stable income sources.

At what interest rate does an Bank of Baroda employee get a home loan?

Bank of Baroda offers concessional home loan rates of about 1% than the current home loan rates to Bank of Baroda employees.

Is Bank of Baroda home loan a floating rate loan or fixed-rate loan?

Bank of Baroda home loan is offered at both fixed and floating rates. In the case of the fixed-rate, the interest remains the same throughout the tenure. On the other hand, the home loan rates vary as per the market fluctuations for floating home loan rates.

What is the Bank of Baroda home loan rate today ?

Bank of Baroda home loan rate today is in the range of 6.50% to 8.35%.The bank also charges a processing fee of upto Minimum ₹ 10,030 of the home loan amount.

How much interest does Bank of Baroda take on home loans?

The rate of interest on Bank of Baroda home loans varies based on your eligibility, such as CIBIL score, age, repayment capacity, income etc. However, Bank of Baroda home loan current interest rate 2021 are in the range of 6.50% to 8.35%.


Bank of Baroda Home Loan Reviews 4.3/5  by 44 customers
MyLoanCare Service
4.5/5.0
Banks Service
4.1/5.0
Rakesh, Mumbai
Reviewed on 26th Nov 2020
3.5 / 5 stars
Bank of Baroda Home Loan Availed in Nov 2020

MyLoanCare team executives provided regular updates on loan status. If the team can further collaborRead more...

Pankaj,
Reviewed on 05th Nov 2020
5 / 5 stars
Bank of Baroda Home Loan Availed in Oct 2020

I interacted with Vaseem for my loan application. It was a very smooth experience. He helped me in cRead more...

Nelson, Mumbai
Reviewed on 05th Nov 2020
5 / 5 stars
Bank of Baroda Home Loan Availed in Oct 2020

Excellent service by both MyLoanCare and Bank of Baroda branch at Borivali.Read more...

Triloka Tankala, Bangalore
Reviewed on 02nd Sep 2020
4.5 / 5 stars
Bank of Baroda Home Loan Availed in Aug 2020

Excellent service by MyLoanCare. Overall process was very smooth despite many challenges due to coviRead more...

SOUMYASRI NS, Bangalore
Reviewed on 09th Mar 2020
4.5 / 5 stars
Bank of Baroda Home Loan Availed in Feb 2020

Nitin from MyLoanCare was very responsive in answering my queries.Read more...

Arpit Kapoor, Hyderabad
Reviewed on 05th Mar 2020
5 / 5 stars
Bank of Baroda Home Loan Availed in Feb 2020

It was a quick and painless process even when dealing with a Government bank.Read more...

Swarna Kamal Dey, Bangalore
Reviewed on 28th Feb 2020
5 / 5 stars
Bank of Baroda Home Loan Availed in Feb 2020

Excellent service with timely follow-ups and guidance.Read more...

Gaurav Aggarwal, Faridabad
Reviewed on 22nd Jan 2020
5 / 5 stars
Bank of Baroda Home Loan Availed in Jan 2020

Good experience and the MLC team is prompt to reply to queries.Read more...

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Bank of Baroda Home Loan News - Jan 2022
  • 2021-12-14 : Bank of Baroda Introduces Wearable Products for Small-ticket payments.
    Bank of Baroda has launched wearable products for making payments up to Rs 5,000. These products will allow you to make payments without a PIN while shopping on the PoS machine.
  • 2021-11-11 : Bank of Baroda Reports Profit in Q2
    Bank of Baroda has reported a 24% year-on-year rise in standalone profit for quarter two. As a result, the profit increased from ₹1,679 crore to ₹2,088 crores.
  • 2021-09-17 : Bank of Baroda Slashes Home Loan Interest Rate
    Bank of Baroda (BOB) has introduced a festive offer #KhushiyonKaShreeGanesh. The lender has reduced the home loan interest rate to 6.75%. Along with a slashed interest rate the bank has also waived off processing fees.
  • 2021-09-06 : Bank of Baroda is offering a promising home loan
    Bank of Baroda is offering attractive offers on home loans. The lender is offering lower interest rates and longer tenure. A borrower can loan approved within 30 minutes digitally.
  • 2021-08-09 : Bank of Baroda posts Q1 profit of Rs 1,209 crore
    Bank of Baroda has clocked a standalone profit after tax of Rs 1,209 crore in the quarter ended in June 2021 on higher growth in net interest income (NII) and lower provisioning for bad loans. The bank reported a net loss of Rs 864 crore on a standalone basis in the corresponding quarter of the previous fiscal.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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