Value propositions
Bank offers following benefits with home loan availed by you:
- Free Property and Personal Accident Insurance (available for stipulated tenure of loan).
- Interest subvention @ 1% on housing loans upto limit of Rs 15.00 lac where cost of house does not exceed Rs 25.00 lac is available. The scheme is applicable upto 31.03.2012
- Free Credit Card - "Paras" card (Complimentary for first year) to all new home loan borrowers with loan limit of Rs. 2/- Lakhs and above
- Advance up to 90% of the principal amount of home loan repaid for any requirement ('AAA').
- As per current IT provisions - Interest on loan upto Rs. 1.5 Lakhs per annum is exempt from income tax (Under section 23/24(I) of the Income Tax Act).
Terms & Conditions
- Income Criteria:
|
Monthly Income |
Modified Criteria |
|
Up to Rs. 20,000/- |
36 times of monthly income |
|
More than Rs.20,000/- & up to Rs. 1 lac |
48 times of monthly income |
|
More than Rs. 1 lac |
54 times of monthly income |
- Margin:
|
Monthly income |
Purpose |
Margin |
|
Upto Rs.20000/- |
Purchase of plot |
20% |
|
|
House/flat already constructed from own resources |
25% |
|
|
All other cases |
20% |
|
Above Rs.20,000/- |
Purchase of plot |
20% |
|
|
House/flat already constructed from own resources |
20% |
|
|
All other cases |
20% |
- As security against the loan amount, the bank will take an equitable mortgage of the housing property and/or other suitable securities.
- No Fees will be charged on part prepayment / full prepayment of the loan amount.
- The loan can be repaid in a maximum period of 25 years taken under floating rate option subject to the period up to age of retirement in case of salaried persons and 65 years in case of others.
RATE OF INTEREST: (CLICK HERE FOR CURRENT INTEREST RATES).
PROCESSING CHARGES: (CLICK HERE FOR DETAILS)
For further details, please contact the Bank of Baroda Branch nearest to you.
> Home Loan
> Home Loans to NRIs / PIOs
> Home Improvement Loan
> Interest Subsidy Scheme For Housing The Urban Poor (ISHUP)
> Loan Against Future Rent Receivables
> Mortgage Loan
> Advance Against Securities
> Education Loan
> Career Development Loan
> Car Loan
> Two Wheeler Loan
> Loan to Doctors
> Traders Loan
> Personal Loan
> Loan for financing Individuals for subscription to Public Issues /IPO
> Baroda Ashray (Reverse Mortgage Loan)
> Baroda Advance Against Gold Ornaments /Jewellries (At Urban & Metro Centres)
> Baroda Traders Loan Against the Security of Gold Ornaments /Jewellries (At Urban & Metro Centres)
