Home Loan EMI Calculator
Home Loan EMI Calculator
  • Loan Amount:

    100000
    100000000
    5000000
  • Tenure (months):

    12
    360
    240
  • Interest Rate:

    5%
    15%
    8.40
  • Equated Monthly Installment (EMI) will be

  • Festive Offers
  • Benefits
  • Features
  • Eligibility
  • Interest rates & charges
  • Documents Required
  • Most Important Terms and Conditions (MITC)

Baroda Home Loan : Festive Offers

  • ROI is 8.40 onwards
  • Max savings under Baroda Max Savings Home loan.
  • Concession for Women Borrowers- 0.05%
  • 10% for Gen Z and Millennials ( Under 40 years of age)
  • Interest calculate on daily reducing balance
  • Nil Processing fee
  • Easy Takeover without income documents.

Baroda Home Loan : Features

  • Home Loan products to suit every customers need
  • The approved home loan amount varies according to location and income of the applicants.
  • Low Interest Rates
  • Low Processing Fee
  • No Hidden Charges
  • No Pre Payment Penalty
  • The interest rate is linked to Baroda Repo Linked Lending Rate (BRLLR) of the bank and is reset monthly.
  • Interest charges on Daily Reducing Balance
  • Repayment up to 30 years
  • Moratorium period up to 36 months after the loan amount is disbursed.
  • Generally, we accept mortgages of the constructed or purchased property as collateral. In some cases, collateral for home loans can be accepted in the form of insurance policies, government promissory notes, shares and debentures, gold ornaments and other property etc.

Baroda Home Loan : Eligibility

Resident Type:
  • Resident Indians
  • Non-Resident Indians (NRIs) holding Indian passport or Persons of Indian origin (PIOs) holding foreign passport or Overseas Citizens of India (OCI)

Minimum Age:
  • Applicant:- 21 Years
  • Co-applicant:- 18 Years

  • Maximum Age: 70 years
  • Loan Tenure: up to 30 years.

Maximum Loan Amount
  • Mumbai : Rs. 20 Crores
  • Hyderabad, New Delhi (including National Capital Region) and Bengaluru: Rs.7.50 Crore
  • Other Metros  : Rs. 5.00 Crores
  • Urban Areas : Rs. 3.00 Crores
  • Semi-urban and Rural : Rs. 1.00 Crores
  • Chandigarh, Panchkula & Mohali:- Rs. 5 Crores

Baroda Home Loan : Interest rates & charges

Floating Rate:

Product Conditions Repo Rate + Spread Effective Rate of Interest
Baroda Home Loan to Non-Staff members
Conditions
For Salaried*
Repo Rate + Spread

BRLLR - 0.75% to BRLLR + 1.45%

Effective Rate of Interest
0.00%
Conditions
For Non-Salaried*
Repo Rate + Spread
BRLLR - 0.75% to BRLLR + 1.45%
Effective Rate of Interest
0.00%

* Note:

  • Rate of Interest is dependent upon Loan limit and CIBIL Score of the applicant/s.
  • Risk Premium of 0.05% will be levied for customers not obtaining credit insurance cover

Fixed Rate:

Product Conditions Repo Rate + Spread Effective Rate of Interest
Baroda Home Loan to Non-Staff members
Conditions
For Salaried*
Repo Rate + Spread

BRLLR+1.00% to BRLLR + 2.35%

Effective Rate of Interest
0.00%
Conditions
For Non-Salaried*
Repo Rate + Spread
BRLLR+1.10% to BRLLR+2.45%
Effective Rate of Interest
0.00%

Processing Charges :
  1. For Takeover leads received through Non-DSA (Digital or Non-digital) –

    NIL, subject to Login Fee of Rs.1,500/- which is to be refunded on first disbursement.

  2. For Home Loan in approved projects (Digital or Non-digital):

    100% waiver in Processing charges, subject to recovery of out-of-pocket expenses of ₹3,500.00 + GST (Per Property)./p>

  3. Under Home Loan Scheme for Central/State Govt/PSUs employees – for non-DSA (including leads generated by DST) –

    NIL, subject to Login Fee of Rs.1,500/- which is to be refunded on first disbursement.

  4. For Other Home Loan lead sourced through Non-Digital Channel:

    100% waiver in Processing charges, subject to recovery of out-of-pocket expenses of ₹10,000.00 + GST (Per Property)

  5. For Home Loan leads sourced through Digital Channel:

    100% waiver in Processing charges, subject to recovery of out-of-pocket expenses of ₹5,000.00 + GST (Per Property) to ₹8,500.00 + GST (conditions apply)

Baroda Home Loan : Documents Required

To check out the documents required for Baroda Home Loan, click here.

Baroda Home Loan : Most Important Terms and Conditions (MITC)

Target Group
  • Resident Indians
  • Non-resident Indians (NRIs) holding an Indian passport or Persons of Indian origin (PIOs) holding a foreign passport or overseas citizens of India (OCI). 
  • Staff members (availing under public scheme)

Eligibility of Borrower(s)
  • Individuals - singly or jointly.
  • HUFs are not eligible.

Resident Indian

Applicant/co-applicant(s), whose income are considered for eligibility, should be employed/engaged in business/profession for a minimum period of 1 year (for salaried) and/or 2 years (for non-salaried).

Break in service, if any, can be allowed up to a maximum period of 3 months.


NRI/PIO/OCI
  • Applicant/co-applicant(s), whose income are considered for eligibility, should be having a regular job abroad in a reputed Indian/foreign company, organization or government department holding a valid job contract/work permit for the minimum past 2 years.
    OR
    Should be employed/self-employed or having a business unit and staying abroad at least for 2 years.
  • Applicant/co-applicant(s), whose income is considered for eligibility, should have minimum gross annual income equivalent to Rs. 5 lakhs per annum. If the applicant/co-applicant(s), whose income is considered for eligibility includes NRI, a minimum Gross Annual Income of Rs. 5 lakhs (income of applicant/co-applicant together) can be considered for this criteria.

Person of Indian Origin (PIO) is specified as under

A citizen of any country other than Bangladesh/Pakistan/Sri Lanka/Afghanistan/China/Iran/Nepal/Bhutan if –

  • He at any time held Indian passport or
  • He or either of his parents or any of his grandparents was a citizen of India by virtue of the constitution of India of the Citizenship Act 1955, or
  • The person is a spouse of an Indian citizen or a person referred to in sub-clause (a) or (b) above.

Overseas Citizens of India (OCI) is specified as under
  • A person registered as Overseas Citizen of India (OCI) under section 7 A of the Citizenship Act, 1955.
  • As per the guidelines, an Overseas Citizens of India (OCI) has to be necessarily a Person of India Origin (PIO).
  • A foreign national, who was eligible to become citizen of India on 26/ 01/ 1950 or was a citizen of India on or at any time after 26/ 01/ 1950 or belonged to a territory that became part of India after 15/08/1947, and his/her children and grandchildren, provided his/her country of citizenship allows dual citizenship in some form or other under the local laws, is eligible for registration as Overseas Citizen of India (OCI). Minor children of this person are also eligible for OCI. However, if the applicant had ever been a citizen of Pakistan or Bangladesh, he/she will not be eligible for OCI.

Co-Applicants
  • The close relatives of the applicant can be added as a co-applicant for higher eligibility.
  • If the applicant wants to add any person who is not a close relative as a co-applicant, the same can be considered only if he/she is the joint owner of property.

List of Close Relatives

Spouse, father, mother (including step mother), son (including step son), son’s wife, daughter (including step daughter), daughter’s husband, brother/sister (including stepbrother/sister), brother’s wife, sister (including step sister) of spouse, sister’s husband, brother (including step brother) of spouse.


Maximum Loan amount
    • Mumbai : Rs. 20 Crores
    • Hyderabad, New Delhi and Bengaluru : Rs. 7.50 Crores
    • Other Metros  : Rs. 5.00 Crores
    • Urban Areas : Rs. 3.00 Crores
    • Semi-urban and Rural : Rs. 1.00 Crores
    • Chandigarh, Panchkula & Mohali:- Rs. 5 Crores

Repayment Period
  • Maximum period of loans shall be 30 years initially, including the maximum moratorium period of 36 months.
  • Maximum moratorium period shall be 36 months as under.
  • 18 month moratorium period for under construction houses and building up to 7th floor and thereafter 6 months additional moratorium per floor subject to a maximum moratorium of 36 months.

Repayment Capacity

Total deductions including proposed EMI should not exceed as follows -

Salaried Persons

  • Net Monthly income less than Rs.25,000: 40%
  • Net monthly income Rs.25,000 and above but less than Rs.50,000: 60%
  • Net monthly income Rs.50,000 and above but less than Rs.1.00 lakhs: 65%
  • Net monthly income Rs.1.00 lakhs and above but less than Rs.2.00 lakhs: 70%
  • Net monthly income Rs.2.00 lakhs and above: 75%

Others

  • Average Net Annual Income (for last 2 years) up to Rs.6 lakhs: 70%
  • Average Net Annual Income (for last 2 years) more than Rs.6 lakhs: 80%

Margin Norms & Loan to Value (LTV) Ratio
Loan Amount Margin LTV Ratio
Loans up to Rs.30/- Lacs 10% 90%
Loans above Rs.30/- Lacs up to Rs.75/- Lacs 20% 80%
Loans above Rs.75/- Lacs 25% 75%

Age
  • Minimum: Borrower - 21 years, Co-applicant - 18 years
  • Maximum: Maximum age can be considered up to 70 years*

Security
  • Mortgage of the property constructed/purchased or
  • If mortgage is not feasible, the Bank at its discretion can accept security in the form of insurance policies, government promissory notes, shares and debentures, gold ornaments, etc.

Repayment
  • Maximum period of loans shall be 30 years initially, including the maximum moratorium period of 36 months.
  • Maximum moratorium period shall be 36 months as under.
  • 18 month moratorium period for under construction houses and building up to 7th floor and thereafter 6 months additional moratorium per floor subject to a maximum moratorium of 36 months.
  • Loan to be repaid in Equated Monthly Instalments (EMI)
  • In case of farmers/agriculturists, repayment can be allowed in Half Yearly Instalments coinciding with harvesting/marketing of major crops produced.
  • Recovery of interest for the moratorium period Interest charged during the moratorium period is to be recovered as and when debited.

Pre-Closure Charges

Nil


Group Credit Life Insurance Cover

Bank of Baroda has tie-up arrangements with M/s. IndiaFirst Life Insurance Co. for providing Life Insurance Cover to our Home Loan borrowers. This is an optional scheme of Life Insurance and is at the cost of borrower which may be funded by the Bank at the time of sanction and is recoverable with the EMIs of the Loan.

The salient Features of the Group Credit Life Policy offered by M/s. IndiaFirst Life Insurance Co. as under:

  • It is an optional scheme for the benefit of Home Loan borrowers and the borrower will be given an option by the branches to choose the insurance provider between IndiaFirst Life Insurance as per his choice.
  • It is a group insurance scheme, which protects against unforeseen consequences of death of borrower.
  • Family of the borrower is not required to repay the loan to the extent of claim settled amount, in case of death of the borrower.
  • Outstanding cover amount due, will be paid by insurance provider as per cover schedule.
  • Slippage of the account into NPA category due to death of the borrower can be avoided.
  • Life cover is available against payment of one time premium and amount of premium is based on the age of the borrower, amount of loan, interest rate and tenure of the loan.
  • Premium amount for obtaining the cover can be financed as part of loan at the request of borrower and accordingly EMI will be calculated. But in case of Home Loans, guidelines regarding compliance of LTV Ratio must be strictly ensured.
  • Premium amount may be part of the loan as per total eligibility of the borrower may be funded by the Bank at the time of sanction and is recoverable with the EMIs of the loan.
  • In case of foreclosure of loan, certain portion of premium paid shall be refunded by the insurance provider.

Frequently Asked Questions (FAQs)

  • How Much Interest On Home Loan?

    To find out how much interest on home loan is applicable please visit Interest Rate page

  • What Documents Required For Home Loan?

    Various documents pertaining to KYC, personal identification, property related documents, income proofs etc. are required for availing home loan. Please see the details here.

  • How much does Bank of Baroda lend?
    • Loan amount is determined on the basis of the repaying capacity of the applicant/s. Repaying capacity takes into consideration factors such as age, income, dependents, assets, liabilities, stability of occupation and continuity of income, savings, etc.
    • The maximum loan would be Rs.10 crores per unit to any individual applicant based on the area where the property is proposed to be constructed/purchased. We will extend a loan of up to 90% (for newly constructed houses/flat) of the cost of property under our Housing Loan Scheme.
  • For how long a period can I get the loan?

    We grant a term up to a maximum of 30 years. The term for the loan will under no circumstances exceed the age of retirement or completion of 65 years of age, whichever is earlier.

  • How To Repay Home Loan Faster?
    • Home Loan is to be repaid in EMI (Equated Monthly Instalment).
    • In case of farmers / agriculturists, repayment can be allowed in Half Yearly installments coinciding with harvesting/marketing of major crops produced.
    • Recovery of interest for the moratorium period: ‒ Interest charged during the moratorium period is to be recovered as and when debited.
  • How To Calculate Cibil Score For Home Loan?

    CIBIL score is not to be calculated by Bank or Individual. Scoring is provided by the CIBIL. You can check your CIBIL Score with CIBIL / bob World.

  • How To Reduce Home Loan Interest Rate?

    You can switch your Home Loan to Bank of Baroda to get benefit of lower interest rate if interest rate with existing lender is higher. Rate of interest in Home Loan depends on the CIBIL score. Therefore, please adhere to the financial discipline and improve your CIBIL score.

  • When Does Home Loan Emi Starts?

    Maximum moratorium shall be -36- months as under:
    -18- months moratorium period for Houses and Building under construction, up to 7th floor, thereafter -6- months additional moratorium per floor subject to maximum of -36- months.
    Or
    One month after completion of House / taking possession of House / Flat, whichever is earlier.

  • How To Save Tax With Home Loan?

    Home loan helps the borrower in saving tax. The EMI of housing loan has two components-   

    • Interest Payment - Interest portion paid for the year can be claimed as deduction upto maximum of Rs.2 lacs under section 24, and 
    • Principal Payment - Principal portion of EMI paid for the year is allowed as deduction under section 80C. The maximum amount that can be claimed is Rs.1.50 lacs.
  • What Is Home Loan Interest Rate?

    It is a rate of interest at which the bank lends funds to the borrower for buying / constructing a house / buying flat.

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