Bank of Baroda

Bank of Baroda

Overview

BOB offers following benefits with home loan to be availed by you:

Free Personal Accident Insurance is available for stipulated tenure.
Free Credit Card (BOBCARD – complementary for first year) to all Home Loan borrowers (first borrower) with loan limit of Rs. 2/- Lacs and above.
Concession of 0.25% in rate of interest for Car Loans.
Concession of 0.50% in rate of interest for Loan for consumer durables.
Top up Loan (Baroda Additional Assured Advance – AAA) can be availed 5 times during loan period.
(Minimum Rs.1/- Lac,  Maximum Rs.200/- Lacs or 75% of residual value of house property after deducting 150% of outstanding loan amount of existing Home Loan, whichever is lower).
As per current IT provisions – Interest on loan upto Rs.1.50 lacs per annum is exempt from income tax (Under section 23/24 (1) of the Income Tax Act). An additional deduction of interest upto Rs.1 lac is available to persons taking a loan for their first home upto Rs.25 lacs during March 2013 to Feb 2014.

 

Free Personal Accident Insurance is available for stipulated tenure.

Free Credit Card (BOBCARD – complementary for first year) to all Home Loan borrowers (first borrower) with loan limit of Rs. 2/- Lacs and above.

Concession of 0.25% in rate of interest for Car Loans.

Concession of 0.50% in rate of interest for Loan for consumer durables.

Top up Loan (Baroda Additional Assured Advance – AAA) can be availed 5 times during loan period.

(Minimum Rs.1/- Lac,  Maximum Rs.200/- Lacs or 75% of residual value of house property after deducting 150% of outstanding loan amount of existing Home Loan, whichever is lower).

As per current IT provisions – Interest on loan upto Rs.1.50 lacs per annum is exempt from income tax (Under section 23/24 (1) of the Income Tax Act). An additional deduction of interest upto Rs.1 lac is available to persons taking a loan for their first home upto Rs.25 lacs during March 2013 to Feb 2014.

Loan Feature

Loan Amount Upto 80% of the principal amount of home loan
Interest Rate 10.25%
Tenure 30 Years
Pre Payment Charges No Pre-payment charges
Service Charges

Loan upto Rs.30 Lacs – 0.50% (Min. Rs.5,000/-) + taxes

Above 30 Lacs - 0.40% (Min. Rs.15,000/- & Max. Rs.50,000/-) + taxes

Eligibility Criteria : Home Loan

  Salaried Self
Age Maximum 60 Years Maximum 65 Years
Income Income criteria not provided Income criteria not provided
Job Experience Job experience not provided Job experience not provided
Residence Proof Residence proof not provided Residence proof not provided

Docs Required : Home Loan

  Salaried Self
ID Proof PAN card/Voters ID/Passport/Driving License PAN card/Voters ID/Passport/Driving License
Address Proof Recent telephone bill/electricity bill/property tax receipt/passport/voters ID Recent telephone bill/electricity bill/property tax receipt/passport/voters ID
DOB Proof 10th class certificate 10th class certificate
Financial Docs

• Statements (latest 3 months bank statement / 6 months bank passbook)
• Latest salary slip or current dated salary certificate with latest Form 16

• Bank Statements(latest 6 months bank statement /passbook)
• Latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a CA
• Qualification proof of the highest professional degree

Other Charges : Home Loan

Penal Interest :- If borrower defaults in payment of EMIs or account becomes irregular, the Bank will levy a higher rate of interest (2% over regular rate) on the irregular amount for the period of irregularity.

Products offered by Bank of Baroda

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Testimonial

After getting rejected for a home loan by two banks I thought my wish of owning a home in a city like Mumbai will remain a dream. By chance I came to your site and applied for the loan.

What happened then was a smooth process. It's been my good luck to visit your site and get loan for my dream home.

Thanks

- Deepak Gupta

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