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Bank of Baroda Home Loan Interest Rates 2021

Bank of Baroda Housing Loan Interest Rate -Today

Last Updated 16th Jul 2021

Current Bank of Baroda Home Loan interest rates Jul 2021 starts at 6.75% p.a. for a maximum tenure of 30 years. The processing fee on its housing loans is Minimum ₹ 10,030 .

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

Today Bank of Baroda home loan interest rates are in the range of 6.75% to 8.35%, with special discounted rates for specific categories of borrowers such as women borrowers for whom the bank offers the lowest interest rate of 6.75%.

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 Loan6.75% - 8.35%
Baroda Home Loan Advantage6.75% - 8.55%
Baroda Pre Approved Home Loan8.65% - 8.75%

Bank of Baroda Home Loan Interest Rates for Salaried and Self Employed

The home loan interest rates in Bank of Baroda for salaried & non-salaried employee is mentioned in the table below:

Home Loan Interest Rate for Salaried

Loan Amount Rate
Upto ₹ 30 Lakh 6.75%
₹ 30 Lakh - ₹ 50 Lakh 6.75%
₹ 50 Lakh - 75 Lakh 6.75%
Above ₹ 75 Lakh 6.75%

Home Loan Interest Rate for Self-Employed

Loan Amount Rate
Upto ₹ 30 Lakh 6.75%
₹ 30 Lakh - ₹ 50 Lakh 6.75%
₹ 50 Lakh - 75 Lakh 6.75%
Above ₹ 75 Lakh 6.75%

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
Foreclosure Charges Nil for floating rate home loans

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 lowest home loan balance transfer rate of 6.75%.

Illustration on Home Loan Interest Rate Bank of Baroda
Maximum Annual Percentage Rate (APR) 6.75% 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: 6.75% to 8.35%
  • Processing Fee payable to: NIL
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 649 for 30 Years ₹ 1,00,000 loan at 6.75% (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: 6.75% to 8.35%
  • Total cost payable over loan tenure: ₹ 1,18,101 for 5 Years loan to ₹ 2,33,496 for 30 Years loan

FAQs

What is Bank of Baroda Home Loan Interest Rate?

Bank of Baroda Home Loan interest rate ranges between 6.75% to 8.35%. The salaried borrowers with high credit score and income are eligible to get lower interest rates.

Has Bank of Baroda reduced home loan rates?

As per the current rates, Bank of Baroda has cut its home loan rates by 0.1% from 6.85% to 6.75%, which is one of the best rates in the market. The new rates are effective from 03 Nov, 2020.

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

Bank of Baroda offers lowest Home Loan EMI of ₹ 649 per lakh availed at the lowest interest rate 6.75% for a maximum tenure of 30 years. you are paying an EMI more than ₹ 649 per lakh, you should consider the option for a loan transfer to Bank of Baroda from your existing bank.

  • Bank of Baroda offers RBI Repo Rate linked Home Loan which starts at 6.75%. Current Repo Rate of RBI is 4.00%. The Bank adds a mark up on RBI’s repo rate which is called Bank of Baroda Repo Rate Linked Lending Rate (RLLR). RLLR can change with change in Repo Rate. An additional spread is applied on RLLR which remains the same throughout the tenure. Bank applies a premium of 2.75% to the Repo Rate to arrive at this rate.
  • When RBI increases rates, the bank may increase its Repo Rate linked Home Loan rates by the same basis points for all existing and new Home Loans. When RBI cuts interest rates, the Bank of Baroda Home Loan interest rates will reduce the interest rates by the same basis points, which will be effective from the 1st day of the following month.
  • For instance, if RBI slashes Repo Rate by 0.15%, then Bank of Baroda Repo Rate linked Home Loan rate will cut from 6.75% to 6.6%.

What is the current Bank of Baroda Home Loan rate?

The current Bank of Baroda Home Loan rate starts from 6.75% with a processing fee of Minimum ₹ 10,030.Bank of Baroda housing loan rate varies across the applicant’s eligibility and the scheme they opt for. Bank of Baroda offers different home loan rates for different home loan products.

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.

What are the interest rates of home improvement loans in Bank of Baroda?

You can avail of Bank of Baroda home loans for home improvement at regular home loan rates starting at 6.65%.

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

Bank of Baroda home loan rates change for the existing customers if they have availed 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 6.75%, the home loan interest rate for women starts at %.

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

Bank of Baroda home loan varies as per the loan amount. For home loan upto ₹ 25 Lakh, Bank of Baroda provides home loan interest rate starting at 6.65%.

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 rate. In the case of the fixed rate, the interest remains the same whereas in the case of the floating rate the home loan rates keep varying according to the market.


Bank of Baroda Home Loan Reviews 4.3/5  by 44 customers
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4.5/5.0
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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...

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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...

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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 - Jul 2021
  • 2021-07-16 : Amalgamation of Bank of Baroda, erstwhile Vijaya Bank and erstwhile Dena Bank
    Bank of Baroda, on its website, stated that the IFSC codes of the erstwhile Vijaya Bank and Dena Bank were discontinued on March 1, 2021. Customers have been asked to apply for cheque books with the new MICR code at the earliest.
  • 2021-06-01 : BOB reports net loss of Rs 1,046 cr in Q4
    Bank of Baroda reported a standalone net loss of Rs 1,046 crore for the March quarter (Q4FY21). It had posted a profit of Rs 506.6 crore in the same period last year (Q4FY20). The lender’s advances which includes retail loans home, LAP, personal, two wheeler, car education and doctor loan along business and mudra loan grew by 4.9% to Rs 6.4 trillion during the March quarter. Further domestic deposits which includes fixed and recurring deposits rose 6.2% to Rs 8.6 trillion.
  • 2021-05-19 : Bank of Baroda to hire digital marketing agencies to increase customer outreach
    Bank of Baroda is looking to hire three digital marketing agencies. The bank is aiming to visible digitally through means such as YouTube, influencer tie-ups, content syndications as well as new age media opportunities. The digital marketing firm will also be required to create content through campaigns, mobile-first based content, blog--articles, infographics, gifs and videos.
  • 2021-03-25 : Bank of Baroda reduced its home loan rates
    With effect from 15 March 2021, Bank of Baroda revised its home loan rates. The new home loan rates start at 6.75%.
  • 2021-03-17 : BOB to focus on new digital platform to expand retail lending
    Bank of Baroda is planning to expand its retail loans portfolio which include home, personal, LAP, gold, two-wheeler and car loans through a self made digital lending platform. The digital platform assesses credit risk through varied public and private data points like bank account statements, tax statements and consumption trends.
*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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