Bank of Baroda Home Loan : Friends, nowadays many people are taking home loans to build a permanent house for themselves or buy a new house . Like those people, you can also take a home loan to build a permanent house or buy a new house or get the house repaired. Bank of Baroda, which is a big bank, is also providing home loans, so you can apply for a home loan in this bank.
Bank of Baroda Home Loan
Home loan can be taken from Bank of Baroda from ₹ 1 lakh to 2 crores or even more than 20 crores . Whenever the loan is approved , the loan amount is sent directly to the bank account. If a home loan is taken from this bank, then the person is given a maximum time of 30 years to repay the loan so that the person can easily repay the entire loan.
Bank of Baroda Home Loan Interest Rate
Banks always provide loans to all people at different interest rates according to their eligibility . Similarly, this bank also provides loans at different interest rates. The annual interest rate of home loans is 11.40% to 10.90% per annum. Whatever loan you take from this bank, the interest will be charged according to that interest rate and when you deposit the loan installments, you will have to deposit the interest in them as well.
Bank of Baroda Loan Amount
- Under Bank of Baroda Home Loan, you can get a loan ranging from ₹ 10 lakh to ₹ 10 crore , which will depend on the price of your house and other financial condition.
- This loan is also given for Home Improvement and Home Renovation , which you can avail for repairing or rebuilding the house.
Benefits of Bank of Baroda Home Loan
- Bank of Baroda has opened many bank branches at various places, hence one can easily apply for a home loan by visiting the nearest bank branch and talking to the employee.
- Bank of Baroda also has an official website which you can open on your smartphone and apply for a home loan from the comfort of your home.
- Bank of Baroda gives the option that a person can take a loan as per his requirement , hence you can take a home loan as per your requirement.
Eligibility for Bank of Baroda Home Loan
- To avail a home loan , a person must be an Indian citizen.
- The person must either have a job or his own business.
- The age of the person should be between 21 years and 70 years.
- CIBIL score should not be bad.
Required Documents for Home Loan
- Identity Proof : Aadhar Card, PAN Card, Voter ID, Passport etc.
- Address Proof : Electricity Bill, Water Bill, Passport, Rent Agreement etc.
- Income Proof : Salary slip (if salaried), Income Tax Return (if businessman), Bank statement etc.
- Property Documents : If you have already purchased the property then its registry, sale/purchase agreement etc. documents.
- PAN Card : There is a bank verification process regarding PAN Card.
- Bank Statements : Apart from Bank of Baroda, statements of any other bank may also need to be submitted to assess your income and financial position.
How to apply for Bank of Baroda Home Loan
- To avail Bank of Baroda Home Loan , the applicant has to first open the official website of Bank of Baroda on his computer or mobile.
- Now click on the loan option on the website and then click on home loan.
- Now the registration process has to be completed on the website and then start filling the application form.
- Now you have to fill the document details and then submit the application form finally.
- After doing this, the bank officials will contact you and then provide you the loan.
Bank of Baroda Home Loan can be a great option to make your dreams come true. Whether you want to take a loan to buy a new home, or repair/construct your old property, Bank of Baroda offers you loans with affordable interest rates and flexible repayment options . You can easily avail this facility by applying online or offline.