Bank of Baroda Home Loan Interest Rate Calculator - Dec 2016

Bank of Baroda Home Loan Interest Rates

Last Updated 02nd Dec 2016
Interest Rate 9.50% - 10.50%
Check Special Offers
Lowest EMI Rs. 841 per lakh
Max Tenure 30 years
Processing Fee Upto 0.50%
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans
Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed
Apply Home Loan Online
 Salaried   Self Employed - Professional   Self Employed - Business 

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Bank of Baroda Home Loan

Bank of Baroda offers home loan to the people who want money to purchase a house, home renovation and home extension etc. The house itself acts as a security to the loan.

Home Loan Bank of Baroda

Home loan interest rates offered by Bank of Baroda depends upon MCLR.
  • Floating rates changes with a single change in MCLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates.
Bank of Baroda offers home loan based on 1 Year MCLR rates which is currently 9.25%.
Bank of Baroda home loan interest rate depends upon
  • Loan amount: Home loan rate in Bank of Baroda depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: Bank of Baroda has a list of companies to which they lend Home loan. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. Bank of Baroda interest rate varies with your monthly income. Higher the income, less will the rate of interest

Home Loan Charges

  • Foreclosure Charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Bank of Baroda allows prepayment of home loan with Nil prepayment charges
  • Processing Fee - Bank of Baroda asks for a processing fee of 0.50% of loan amount with applicable service tax

Bank of Baroda Home Loan EMI Calculator

    Home Loan EMI of Bank of Baroda is a fixed amount that you pay each month towards the repayment of your home loan till the end of tenure
  • Home Loan EMI calculator of Bank of Baroda helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on home loan.
  • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
  • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI
What are the benefits of calculating Bank of Baroda Home Loan EMI?
  • EMI calculator of Bank of Baroda helps you to calculate your monthly EMI at different rate of interest
  • Bank of Baroda Housing Loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

Bank of Baroda Home Loan Eligibility Calculator

Home Loan eligibility criteria Bank of Baroda
Eligibility of House loan in Bank of Baroda relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Age: Age plays an important role to know your eligibility and repayment capacity. Bank of Baroda offers Home loan to salaried at the age of 21 to 60 years and self employed individuals at 21 to 65 years
  • Income: In case of salaried person, Bank of Baroda Loan eligibility significantly depends upon the income. Usually bank set minimum levels of income to apply for house loan. Bank of Baroda asks for net monthly income of minimum 20,000. Salaried employee should be in government job or working with a reputed private company and getting regular salary in bank account with salary slip, form 16
  • Job stability and Profession: Job stability is important to improve your status and eligibility for Home loan from Bank of Baroda. In case you are salaried, you must be in a full time job for at least 2 months. In case you are self-employed, you must be in current profession or business for at least 3 years and should preferably own either your office or your place of residence. Minimum turnover and minimum net income criteria may apply. Business must be registered with at least one government agency such as service tax, VAT, excise, shops and establishment registrar. Other than job stability, profession is also an important factor which can affect your Bank of Baroda eligibility. If you are working with a reputed company, probability of getting home loan from Bank of Baroda increases as the income is considered to be more stable
  • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your Home loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your Home loan eligibility
  • Loan Amount: Bank of Baroda gives you Home loan depending upon your income. Bank of Baroda gives you an amount ranging from Rs. 1,500,000 to Rs. 100,000,000. To improve chances of approval, apply for a loan amount that you can comfortably service
  • Estimated eligibility online by using Eligibility Calculator.

    Bank of Baroda Floating Rate Home Loans

    Bank of Baroda Home Loan Floating
    Upto Rs. 2,500,000 - 9.50%
    Rs. 2,500,001 - 7,500,000 - 9.50%
    Rs. 7,500,001 - 30,000,000 - 9.50%
    Above Rs. 30,000,000 - 9.50% linked to 1 Year MCLR

    Bank of Baroda Home Loan Top up, Transfer

    Transfer of Home Loan from another bank to Bank of Baroda?
    Bank of Baroda offers home loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of Bank of Baroda
    You can avail additional top-up home loan from Bank of Baroda, subject to your eligibility

    Housing Loan Bank of Baroda documents required

    Home Loan for Salaried employee Bank of Baroda documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

    Home Loan for Self-Employed Bank of Baroda documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

    Frequently Asked Questions

    Why to take home loan from Bank of Baroda?
    Bank of Baroda offers home loan at lower rate of interest i.e. at 9.50% with the lowest EMI of Rs. 841 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your home loan to Bank of Baroda.
    What is the maximum loan tenure I can opt under Bank of Baroda house loan?
    Bank of Baroda offers you a longer tenure of 30 years to repay your home loan with a benefit of paying less EMI per month.
    Do I get tax benefit on home loan from Bank of Baroda?
    As per Indian Income Tax Act of 1961, residents of India are eligible for tax benefits on principal amount and interest components of a home loan under the section 24 and section 80C of Income Tax Act.
    Can I foreclosure my home loan? What are the charges applicable?
    Yes, you can foreclose your home loan with Nil charges.
    Can I transfer my home loan from another bank to Bank of Baroda?
    Yes, Bank of Baroda gives you the facility to transfer your existing home loan with a hassle free process. Home loan balance transfer to Bank of Baroda offers you to pay lower EMIs and save money.
    Can I club the income of my spouse with mine and apply for joint home loan?
    You can club the income of your spouse to increase your loan eligibility if the spouse is co-owner of the property or guarantor of the loan.
    What is the benchmark applicable for home loan in Bank of Baroda?
    The benchmark applicable for home loan in Bank of Baroda is 1 Year MCLR.
    What is the effect of part payments on Bank of Baroda housing loan EMI ?
    Part payments help you in reducing the outstanding amount of loan which in turn will reduce the interest amount due. After making part payments, paying the same EMI will increase your involvement towards the principal amount which will help you in repaying the loan faster.
    How to increase my eligibility on Bank of Baroda housing loan?
    If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get loan.
    How will interest rate on Bank of Baroda housing loan change in future?
    • Floating interest rate on Bank of Baroda housing loan is linked to its 1 Year MCLR Rate, which is currently at 9.25%. So, when Bank of Baroda offers a home loan at 9.50%, it applies a premium of 0.25% to its MCLR Rate to arrive at this home loan interest rate.
    • When RBI increases interest rates, the bank may increase its MCLR rate and the applicable interest rate for all existing and new home loans would increase. When RBI cuts interest rates and the bank reduces the MCLR rate, the benefit of lower rates will have to be passed to both old borrowers and new house loan accounts.

    Bank of Baroda Home Loan in India

    Bank of Baroda Home Loan Customer Care Number, Email, Application Status, Branches

    City Customer Care Number
    Agra 0562-253567
    Ahmedabad 1800-223-344
    Ambala 1800-223-344
    Anand 0265-2361852
    Aurangabad 0832-224003
    Bangalore 080-22224746
    Bhilai 1800-223-344
    Bhilwara 1800-102-4455
    Bhiwadi 0832-224003
    Bhopal 0755-556274
    Bhubaneswar Cuttack 0674-2517435
    Bikaner 1800-102-4455
    Chandigarh 0172-701617
    Chennai 044-23454249
    Cochin 0484-4027903
    Coimbatore 0422-2303735
    Dehradun 05946-22178
    Delhi 011-3319192
    Durg 1800-223-344
    Faridabad 0129-2412681
    Gandhinagar 0265-2361852
    Ghaziabad 0120-2790111
    Goa 0832-224003
    Greater Noida 011-3319192
    Gurgaon 011-3319192
    Guwahati 0361-2540475
    Gwalior 1800-223-344
    Hyderabad 1800-223-344
    Indore 1800-223-344
    Jabalpur 1800-223-344
    Jaipur 0141-363056
    Jalandhar 0172-701617
    Jodhpur 0291-550084
    Kanpur 0512-215655
    Karnal 0172-701617
    Kolhapur 0832-224003
    Kolkata 1800-223-344
    Kota 0291-550084
    Kozhikode 0484-4027903
    Lucknow 0522-206028
    Ludhiana 0172-701617
    Madurai 0422-2303735
    Meerut 0562-253567
    Mehsana 0265-2361852
    Mohali Sas Nagar 0172-701617
    Mumbai 022-22614706
    Mussoorie 05946-22178
    Nagpur 0712-527466
    Nashik 0712-527466
    Noida 011-3319192
    Noida Extn. 011-3319192
    Panipat 1800-223-344
    Patna 0612-2452336
    Pondicherry 1800-223-344
    Pune 020-5466917
    Raipur 0771-526081
    Rajkot 0281-225686
    Ranchi 0657-2426802
    Rohtak 1800-223-344
    Roorkee 05946-22178
    Salem 0422-2303735
    Shimla 1800-223-344
    Sonepat 1800-223-344
    Surat 0261-3462216
    Trichy 0422-2303735
    Udaipur 0294-522203
    Vadodara 0265-2361852
    Varanasi 0542-2366349
    Vijaywada 040-23421603
    Vizag 040-23421603
Home Loan @ 9.10%* Cashback Upto Rs. 5,000

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Bank of Baroda Home Loan Interest Rate 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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