Baroda Home Loans

If you are dreaming of buying your own residence, Opt for a home loan from Bank of Baroda. Our home loans are packed with several exclusive features and benefits for aspiring home owners.

Our housing loan can be used for a variety of purposes. For instance, you can buy a plot, purchase a flat, build your own home and even extend your existing residence with a home loan.

Features

  • All resident and non-resident Indians between 21 and 70 years are eligible for our home loans.
  • Purchase of new/old dwelling unit.
  • Construction of house.
  • Purchase of plot of land for construction of a house.
  • Repaying a loan already taken from other Housing Finance Company/Bank.
  • Repayment period up to 30 years (floating rate option).

Loan amount: 

The approved home loan amount varies according to location and income of the applicants.

Interest rate & Fees: 

The interest rate is linked to Baroda Repo Linked Lending Rate(BRLLR) of the bank and is reset monthly.
Processing Fees is NIL, However Unified Processing Charges of Rs.8500 plus GST(including legal and technical) will be charged irrespective of the loan amount.

Tenure: 

The tenure on our home loans varies based on the loan amount and the income of the borrower, and the maximum tenure is 30 years.

Collateral: 

We require collateral against home loans. We accept mortgage of the constructed or purchased property as collateral. 

Document Required:

List of Documents applicable to all applicants:

  • Employer Identity Card
  • Loan Application: Completed loan application form duly filled in affixed with 3 Passport size photographs
  • Proof of Identity: PAN Card (Mandatory)
  • Proof of Residence/Address (Any one) 
(a) Recent copy of Electricity Bill
(b) Water Bill
(c) Piped Gas Bill 
(d) Copy of Passport
(e) Aadhar Card (Mandatory)

Property Papers:

  • Permission for construction (where applicable)
  • Stamped Agreement for Sale /Allotment Letter
  • Occupancy Certificate (in case of ready to move property)
  • Share Certificate (only for Co-operative Societies), Maintenance Bill, Electricity Bill, Property Tax Receipt
  • Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property)
  • Payment Receipts and bank A/C statement showing all the payments made to Builder/Seller

Account Statement:

  • Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s
  • If any previous loan from other Banks/Lenders, then Sanction Letter of Loan Running and Loan A/C statement for last 1 year.

Income Proof for Salaried:

  • Salary Slip or Salary Certificate of latest 3 months
  • Copy of Form 16 for last 2 years and copy of IT Returns for last 2 financial years, acknowledged by IT Dept.

Income Proof for Self Employed:

  • Business address proof
  1. IT returns for last 3 years
  2. Balance Sheet & Profit & Loss A/c for last 3 years
  • Business License Details(or equivalent)
  • TDS Certificate (Form 16A, if applicable)
  • Certificate of qualification (for C.A./ Doctor and other professionals)


Dowload File

Enquire now