Value propositions
Bank offers following benefits with home loan availed by you:
- Free Property and Personal Accident Insurance (available for stipulated tenure of loan).
- Free Credit Card - "Paras" card (Complimentary for first year) to all new home loan borrowers with loan limit of Rs. 2/- Lakhs and above
- Advance up to 90% of the principal amount of home loan repaid for any requirement ('AAA').
- As per current IT provisions - Interest on loan upto Rs. 1.5 Lakhs per annum is exempt from income tax (Under section 23/24(I) of the Income Tax Act).
Terms & Conditions
- Income Criteria:
|
Monthly Income |
Modified Criteria |
|
Up to Rs. 20,000/- |
36 times of monthly income |
|
More than Rs.20,000/- & up to Rs. 1 lac |
48 times of monthly income |
|
More than Rs. 1 lac |
54 times of monthly income |
- Margin:
|
Monthly income |
Purpose |
Margin |
|
Upto Rs.20000/- |
Purchase of plot |
20% |
|
|
House/flat already constructed from own resources |
25% |
|
|
All other cases |
20% |
|
Above Rs.20,000/- |
Purchase of plot |
20% |
|
|
House/flat already constructed from own resources |
20% |
|
|
All other cases |
15% |
- As security against the loan amount, the bank will take an equitable mortgage of the housing property and/or other suitable securities.
- No Fees will be charged on part prepayment / full prepayment of the loan amount from own sources.
- The loan can be repaid in a maximum period of 15 / 25 years taken under fixed / floating rate option subject to the period up to age of retirement in case of salaried persons and 65 years in case of others.
- In case of full prepayment or foreclosure (other than from own sources) fees will be charged at 0.5% for each year of the residual period subject to maximum of 2%.
RATE OF INTEREST: (CLICK HERE FOR CURRENT INTEREST RATES).
PROCESSING CHARGES: (CLICK HERE FOR DETAILS)
For further details, please contact the Bank of Baroda Branch nearest to you.
> Home Loan
> Home Loans to NRIs / PIOs
> Home Improvement Loan
> Interest Subsidy Scheme For Housing The Urban Poor (ISHUP)
> Loan Against Future Rent Receivables
> Mortgage Loan
> Advance Against Securities
> Education Loan
> Career Development Loan
> Car Loan
> Two Wheeler Loan
> Loan to Doctors
> Traders Loan
> Personal Loan
> Loan for financing Individuals for subscription to Public Issues /IPO
> Baroda Ashray (Reverse Mortgage Loan)
