Home Loan EMI Calculator

BANK OF BARODA

1. HOME LOAN ELIGIBILITY

1. Resident Type:

• Resident Indians.

• NRIs, PIOs, and OCIs.

2. Age Criteria:

• Minimum Age: 21 years for the applicant, 18 years for the co-applicant.

• Maximum Age: 70 years at the time of loan maturity.

3. Loan Amount:

• Mumbai: Up to ₹20 crores.

• Hyderabad, Delhi NCR, Bengaluru: Up to ₹7.5 crores.

• Other Metros: Up to ₹5 crores.

• Urban Areas: Up to ₹3 crores.

• Semi-Urban & Rural Areas: Up to ₹1 crore.

4. Loan Tenure:

• Up to 30 years, depending on the borrower’s profile and loan amount.

2. HOME LOAN CHARGES

1. Processing Charges:

• Digital Applications:

• No processing fee; out-of-pocket expenses range from ₹3,500 + GST to ₹8,500 + GST.

• Non-Digital Applications:

• No processing fee; out-of-pocket expenses up to ₹10,000 + GST.

• Login Fee: ₹1,500, refundable upon first disbursement for specific cases.

2. Prepayment Penalty:

• No charges for prepayment, offering flexibility in repayment.

3. Additional Fees:

• Out-of-pocket expenses vary based on the loan type and source.

3. HOME LOAN INTEREST RATES

1. Floating Interest Rate:

• For Salaried:

• BRLLR - 0.75% to BRLLR + 1.45% (8.40% to 10.60%).

• For Non-Salaried:

• BRLLR - 0.75% to BRLLR + 1.45% (8.40% to 10.60%).

2. Fixed Interest Rate:

• For Salaried:

• BRLLR + 1.00% to BRLLR + 2.35% (10.15% to 11.50%).

• For Non-Salaried:

• BRLLR + 1.10% to BRLLR + 2.45% (10.25% to 11.60%).

3. Conditions:

• Interest rates depend on the loan limit and CIBIL score of the applicant.

• A risk premium of 0.05% applies if credit insurance cover is not obtained.

4. DOCUMENTS REQUIRED FOR HOME LOAN

To ensure a smooth application process, the following documents are generally required:

1. Identity Proof: Aadhaar Card, PAN Card, Passport, or Voter ID.

2. Address Proof: Utility bills, Rent Agreement, or Passport.

3. Income Proof:

• Salaried: Latest salary slips, Form 16, and bank statements.

• Self-employed: Income Tax Returns, business proof, and financial statements.

4. Property Documents: Agreement to sell, property tax receipts, and NOC from the builder.

5. Other Documents: CIBIL score report and loan application form.

5. FEATURES & BENEFITS OF HOME LOAN

1. Low Interest Rates: Attractive rates for both salaried and self-employed individuals.

2. Minimal Charges: Low processing fees and no hidden charges.

3. Flexible Loan Options: A wide range of home loan products to meet customer needs.

4. Long Repayment Tenures: Loan repayment period up to 30 years.

5. Moratorium Period: Up to 36 months post-disbursement, offering a repayment cushion.

6. Transparent Terms: No prepayment penalties and clear loan conditions.

7. Daily Reducing Balance: Interest calculated on daily reducing balance for better savings.

8. Collateral Flexibility: Accepts various forms of collateral, such as property, insurance policies, and government securities