BOB Home Loan – Current Interest Rate, Calculate EMI

Bank of Baroda (BOB) Home Loan Highlights

Particulars	Details
BOB Home Loan Interest Rate	8.40% – 10.90%
Loan Amount	Up to Rs 20 Crore
Loan Tenure	Up to 30 years including moratorium period of up to 36 months
Processing Charges	0.25%-0.50% of loan amount (Rs 8,500-Rs 25,000)
Prepayment Charges	NIL
Collateral	Constructed or purchased property, insurance policies, shares and debentures, government promissory notes, gold ornaments, etc.

Note: Rates as of 22nd November 2024

BOB Home Loan Interest Rates for Top Banks & HFCs

Name of Lender	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI	8.50%-9.85% p.a.	8.50%-9.85% p.a.	8.50%-9.85% p.a.	Apply Now
HDFC Bank Limited	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Apply Now
LIC Housing Finance	8.50% - 10.35% p.a.	8.50% - 10.55% p.a.	8.50% - 10.75% p.a.	Apply Now
ICICI Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Apply Now
Kotak Mahindra Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Apply Now
PNB Housing Finance	8.50% - 14.50% p.a.	8.50% - 14.50% p.a.	8.50%-11.45% p.a.	Apply Now
Punjab National Bank	8.45% - 10.25% p.a.	8.40% - 10.15% p.a.	8.40% - 10.15% p.a.	Apply Now
Bank of Baroda	8.40% - 10.65% p.a.	8.40% - 10.65% p.a.	8.40% - 10.90% p.a.	Apply Now
IDFC First Bank	8.85% p.a. onwards	8.85% p.a. onwards	8.85% p.a. onwards	Apply Now
L&T Finance Limited	8.65% p.a. onwards	8.65% p.a. onwards	8.65% p.a. onwards	Apply Now
Tata Capital Housing Finance	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Apply Now
Federal Bank	8.80% p.a. onwards	8.80% p.a. onwards	8.80% p.a. onwards	Apply Now
Axis Bank	8.75%-13.30% p.a.	8.75%-13.30% p.a.	8.75%-9.65% p.a.	Apply Now
Godrej Housing Finance	8.55% p.a. onwards	8.55% p.a. onwards	8.55% p.a. onwards	Apply Now

Bank of Baroda Home Loan Interest Rate

Bank of Baroda offers home loans at both fixed and floating interest rates. The lender offers Bank of Baroda home loan interest rates starting from 8.40% p.a. onwards depending on the employment profile, loan amount and type of home loan schemes offered to its home loan applicants.

Also Read: Bank of Baroda Loan Against Property

BOB Home Loan Floating Interest Rates

Baroda Housing Loan and Home Improvement Loan

Particulars	Details
For Salaried	8.40%-10.60% p.a.
For Non-Salaried	8.40%-10.60% p.a.

Bank of Baroda Max Savings Home Loan

Particulars	Details
Up to Rs 75 lakh	8.40%-10.60% p.a.
Above Rs 75 lakh	8.65%-10.85%

Bank of Baroda Top Up Home Loan

Particular	Details
Top-up Home Loan	Applicable ROI on linked Home Loan (Based on BRLLR on the date of availment of Top up Loan) + Strategic Premium (0.25%) + 0.60%

Note: 

• Interest rate is dependent on loan limit and CIBIL Score of the applicants.
• Risk Premium of 0.05% will remain applicable for customers not obtaining credit insurance cover

Bank of Baroda Home Loan Fixed Interest Rates

Baroda Housing Loan and Home Improvement Loan

Particular	Details
For Salaried	10.15%-11.50% p.a.
For Non-Salaried	10.25%-11.60% p.a.

Bank of Baroda Home Loan Advantage

Particular	Details
Up to Rs 75 lakh	10.15%-11.60% p.a.
Above Rs 75 lakh	10.40%-11.85%

Bank of Baroda Top Up Home Loan

Particular	Details
Top-up Home Loan	Applicable ROI on linked Home Loan + Strategic Premium (0.25%) + 0.60%

Note: Risk Premium of 0.05% will remain applicable for customers not obtaining credit insurance cover

Apply for Bank of Baroda Home Loan

Applicants can apply for Bank of Baroda Home Loan either through the official website of the bank or through Bank of Baroda mobile app, Bob World. They can also visit Bank of Baroda branch to apply for the home loan. Prospective borrowers can also apply through online financial marketplace like Paisabazaar to apply for Bank of Baroda Home Loan.

BOB Home Loan Processing Fees & Charges

Particular	Details
Bank of Baroda Home Loan (For all home loan variants)	0.25%-0.50% of loan amount (Rs 8,500-Rs 25,000)

Also Read: Home Loan Processing Fees charged by various home loan lenders

Bank of Baroda Home Loan Documents Required

A detailed list of documents required for Bank of Baroda Home Loan for different occupation profiles has been presented below.

List of Common Documents

• Duly filled in application form (with a photograph of the applicant)
• Proof of Residence (Aadhaar Card, Voter’s ID Card, Passport, Driving License, Ration Card, etc.)
• Proof of Age (PAN card, Aadhaar Card, Voter’s ID Card, Birth Certificate, Passport, Driving License, etc.)
• Proof of assets held such as LIC, NSC, KVP, MF, Property
• Asset and liability statement
• ITR verification report

Additional BOB Home Loan Documents Requirement

For Salaried Individuals

• Latest 3 months’ salary slip and 1 month salary slip for guarantor
• Copy of employee ID card issued by the employer
• Past 1 year ITR and Form 16 of applicant and guarantor
• Bank account statement for past 6 months or Bank account number if the account is with Bank of Baroda
• Appointment letter, confirmation letter, promotion letter or increment letter evidencing the duration of employment

For Self-employed Individuals/Professionals/Others

• Balance sheet and profit and loss account with income computation for last 2 years
• ITR for last 2 years, 26AS, Traces
• IT assessment, clearance certificate, Income Tax challan, TDS certificate (Form 16A), Form 26AS for income declared in ITR
• Business Proof: Gumasta license, Service Tax Registration, Registration Certificate, etc.

In case of applicants engaged in business through Partnership Firm/Private Ltd. Company

• Address Proof or PAN Card of Firm/Company
• ITR and audited results of last 2 years of Firm or Company
• Memorandum and AOA of the company
• Current account statement for last 1 year

 For Farmers or Agriculturists

• Talati’s/Gram Sevak/Village Revenue Officer Certificate for income of past 2 years and Mamladaar’s/Block Revenue officer certificate for income of past 2 years
• Bank account statement for past 12 months (individual)
• Land revenue records- Form 6, 7/12, 8A

For NRI/PIO/OCI

• Duly filled application form with signatures and photographs
• Copy of passport with VISA stamped
• Details of the individual such as name, address, relation, contact numbers of local contact person
• Residence Proof (India and abroad): Driver’s license, ration card, voter ID, passport, Aadhar card, , registered rent agreement, etc.
• Overseas bank account statement for last 6 months
• NRE savings bank statement of account for last 6 months
• Account statement for all existing loans for last 1 year
• Credit check reports from Overseas Credit Bureau

For PIO:

• Current passport showing birth place in India or abroad
• Indian passport, if held earlier
• Passport of parents or grandparents with details in substantiating his claim of being a PIO

Salaried Individuals (For NRI/PIO/OCI):

• Employment contract copy in vernacular language
• Copy of ID card issued by the current employer
• Copy of ITR of individual for last 2 year (India/abroad)
• Latest salary slips for last 6 months
• Continuous discharge certificate, if applicable
• Copy of latest work permit

Self-employed Individuals (For NRI/PIO/OCI):

• Balance sheet and profit and loss account of business or profession
• Copies of individual’s ITR for last 3 years (India/abroad)
• Continuous discharge certificate, if applicable
• Business proof, place of business and its address proof
• A note giving information on nature of business or profession

Eligibility Criteria for Bank of Baroda Home Loan

Bank of Baroda Home Loan eligibility criteria is set based on the home loan scheme opted by its applicants and their age, credit score, business vintage/work experience and repayment history. The eligibility criteria for various types of BOB home loans schemes are mentioned below.

For BOB Home Loan

• Resident Indian, Non-Resident Indian, Person of Indian Origin, Overseas Citizen of India
• Age: 21-70 years

For BOB Home Loan Takeover

• Age: 21-70 years

For Individual Applicants:

• Minimum CIBIL Score- 701
• At least 12 EMIs paid already
• Satisfactory repayment track record

For Non-Individual Applicants:

• An individual applicant/co-applicant should be present in the proposed loan
• At least 18 EMIs should have been paid
• The firm/company should:
  • have been incorporated for at least 5 years
  • be engaged in business activities for past 2 years
  • be earning cash profits for past 2 years
  • have a positive net worth
  • have a satisfactory CIBIL rating
  • not have slipped into SMA2 category for last 12 months
  • not be in RBI defaulter’s list, ECGC Caution list/SAL, Suit filed/Non-Suit filed CIBIL list, CRILIC, etc.

BOB Credit Risk Guarantee Fund Scheme for Low Income Housing

• New individual borrowers of housing loans of up to Rs 8 lakh under EWS/LIG category
• Housing unit size up to 430 sq. ft. carpet area

Bank of Baroda Home Loan EMI Calculator

Prospective home loan borrowers can use Bank of Baroda Home Loan EMI Calculator to calculate the monthly EMIs and total interest payable for their home loan. Applicants need to fill in the loan amount, interest rate and loan tenure in the below mentioned home loan EMI calculator to calculate the total interest cost and monthly EMIs payable throughout the loan tenure.

Bank of Baroda Home Loan Customer Care Number

Below-mentioned are the toll free Bank of Baroda home loan customer care numbers.

• 1800 5700
• 1800 5000
• For NRIs: +91 79-66296009

Types of Bank of Baroda (BOB) Home Loan

Bank of Baroda Home Loan

Purpose: Bank of Baroda offers regular home loans to its applicants for purchasing flat/house, construction of homes, plot purchase and extension of existing property.

Loan Amount: Rs 1 crore-Rs 20 crore

• Mumbai- Up to Rs 20 crore
• Other Metro Cities- Up to Rs 7.50 crore
• Urban Areas- Up to Rs 3 crore
• Semi-urban and Rural- Up to Rs 1 crore
• Chandigarh, Panchkula and Mohali- Up to Rs 5 crore

LTV Ratio:

Particular	Details
Loan Amount Up to Rs 30 lakh	90%
Loan Amount above Rs 30 lakh-Rs 75 lakh	80%
Loan Amount above Rs 75 lakh	75%

Tenure: Up to 30 years

BOB Max Savings Home Loan 

Purpose: Consumers can use Baroda Home Loan Advantage for purchase and construction of house/flat, purchase of residential plot and construction of home, extension of existing dwelling unit, home loan balance transfer, etc. This facility also comes with a linked overdraft account, opened in the form of savings account, wherein the home loan borrower can deposit his savings and make withdrawals from it as per his requirements.

The balance maintained in the savings account is deducted from the outstanding home loan amount and thereby, helps in reducing the interest cost for the borrower.

Loan Amount: Rs 1 crore-Rs 20 crore

• Mumbai- Up to Rs 20 crore
• Other Metro Cities- Up to Rs 5 crore
• Hyderabad, New Delhi, Bengaluru- Up to Rs 7.50 crore
• Urban Areas- Up to Rs 3 crore
• Semi-urban and Rural- Up to Rs 1 crore
• Tri-city in Chandigarh region (Chandigarh, Panchkula and Mohali)- Up to Rs 5 crore

LTV Ratio:

Particular	Details
Loan Amount Up to Rs 30 lakh	90%
Loan Amount above Rs 30 lakh-Rs 75 lakh	80%
Loan Amount above Rs 75 lakh	75%

Tenure: Up to 30 years

Bank of Baroda Home Loan Takeover Scheme

Purpose: Existing home loan borrowers of other banks/HFCs can avail Bank of Baroda Home Loan Balance Transfer facility for transferring their existing home loans to Bank of Baroda at lower interest rates.

Loan Amount: Rs 1 crore-Rs 20 crore

• Mumbai- Up to Rs 20 crore
• Other Metro Cities- Up to Rs 7.50 crore
• Urban Areas- Up to Rs 3 crore
• Semi-urban and Rural- Up to Rs 1 crore
• Chandigarh, Panchkula and Mohali- Up to Rs 5 crore

LTV Ratio:

Particular	Details
Loan Amount Up to Rs 30 lakh	90%
Loan Amount above Rs 30 lakh-Rs 75 lakh	80%
Loan Amount above Rs 75 lakh	75%

Tenure: Up to 30 years

Bank of Baroda Home Improvement Loan

Purpose: Consumers can avail Baroda Home Improvement Loan to repair or renovate existing homes including purchase of new furniture, furnishings and fittings such as fans, geysers, air conditioners, air purifier, water filter, etc.

Loan Amount: Up to Rs 50 lakh

LTV Ratio:

Particular	Details
Loan Amount Up to Rs 30 lakh	90%
Loan Amount above Rs 30 lakh-Rs 75 lakh	80%
Loan Amount above Rs 75 lakh	75%

Tenure: Up to 15 years

BOB Pre-Approved Home Loan

Purpose: Prospective home buyers who are yet to identify houses/flats/plots for purchase can avail Baroda Pre-approved Home loan. This facility offers an in-principle home loan sanction letter with a 4 months validity to the prospective buyer, subject to his home loan eligibility. A pre-approved home loan sanction letter can help the prospective borrower by providing him better negotiating powers.

Bank of Baroda Top-up Loan

Purpose: Existing home loan borrowers including NRIs and PIOs can avail BOB Home loan top-up facility over and above the existing home loan for meeting their personal requirements.

Loan Amount: Rs 1 lakh- Rs 10 crore

LTV Ratio: 75% of residual value of house property

Tenure: should not exceed beyond 70 years of age

BOB Credit Risk Guarantee Fund Scheme for Low Income Housing

Purpose: Under Credit Risk Guarantee Fund Scheme is an affordable housing scheme wherein the Credit Risk Guarantee Fund Trust offers a credit risk guarantee fund to lenders against their home loans of up to Rs 5 lakh offered to individuals belonging to Economically Weaker Sections and Low Income Groups in urban areas.

FAQs on Bank of Baroda Home Loan

What is the current home loan interest rate in Bank of Baroda?

Bank of Baroda home loan interest rate start from 8.40% p.a. onwards. The bank offers differential interest rates depending on the credit profile, loan amount and occupation profile of its home loan applicant.

How to check home loan eligibility of Bank of Baroda?

Applicants can check the home loan eligibility of Bank of Baroda with the help of BOB home loan eligibility calculator. Applicants need to fill in the gross monthly salary, date of birth, loan tenure, CIBIL Score, other EMIs and monthly tax deductions and then, get the loan amount they are eligible for.

How to apply for a Bank of Baroda home loan?

Prospective home loan borrowers can apply for a Bank of Baroda home loan directly through the bank’s website. Applicants can complete the application form by clicking on the “Apply Online” button on the BOB Home Loan page, entering the required information, and clicking “Proceed”.

What are the documents required for Bank of Baroda Home Loan?

Bank of Baroda requires the identity proof, address proof, income proofs, asset proof, ITR verification report, business proof and property documents at the time of loan application.

How to calculate Bank of Baroda home loan interest rate?

Bank of Baroda Home Loan interest rate can be calculated using the home loan EMI calculator. The EMI calculator allows applicants to enter the loan amount, loan tenure, and interest rate to instantly calculate the interest cost and EMIs payable.

Does Bank of Baroda charge higher home loan interest rates from non-salaried applicants?

Bank of Baroda charges an additional interest rate of 0.10% p.a. from non-salaried applicants.

How does Bank of Baroda determine the loan amount for its home loan applicants?

Bank of Baroda determines the loan amount for its home loan applicants after factoring in their age, income, repayment capacity, job stability, assets and liabilities.

Does Bank of Baroda consider the salary of the spouse while offering home loan?

Yes, Bank of Baroda considers the salary of the spouse while offering home loan. However, the spouse has to apply as a co-applicant for home loan.

Can I choose between a fixed and floating rate of interest while applying for Bank of Baroda home loans?

Yes, Bank of Baroda offers home loans at both fixed and floating interest rates.

What are the benefits of availing Bank of Baroda Home Loan?

The benefits of Bank of Baroda Home Loan are as follows:

• Bank of Baroda offers one of the lowest home loan interest rates, i.e., starting from 8.40% p.a. onwards
• Applicants can avail loan amounts of up to Rs 20 crore
• Bank of Baroda offers longer loan tenures of up to 30 years
• Existing home loan borrowers can avail easy top-up loans over and above their existing Bank of Baroda home loans

Does adding a co-applicant improve the chances of availing Bank of Baroda home loan?

Yes, adding a co-applicant improves the eligibility of Bank of Baroda home loan applicants. The bank accepts the close relatives of a home loan applicants as co-applicants. However, if the home loan applicant wants to add a co-applicant who is not a close relative, the co-applicant has to be the joint owner of the property.

Who can be the co-applicant for Bank of Baroda home loan?

Bank of Baroda accepts the close relatives of the applicant including spouse, father, mother (including step mother), son (including step son), son’s wife, daughter (including step daughter), daughter’s husband, brother/sister (including step brother/sister), brother’s wife, sister of spouse (including step sister), sister’s husband and brother of spouse (including step brother) as co-applicants of your home loan.

What is the maximum and minimum tenure for Bank of Baroda Home Loan?

Prospective home loan borrowers can avail Bank of Baroda Home Loan for a tenure of up to 30 years. However, the sanctioned loan tenure cannot exceed the retirement age of the applicant or 65 years of age, whichever is earlier.

Is property insurance mandatory for Bank of Baroda Home Loan?

Bank of Baroda has not mentioned whether purchase of property insurance is mandatory for the home loan or not. However, for most lenders it is not mandatory to purchase property insurance for home loans.

What home loan amount can a salaried employee avail from Bank of Baroda?

Bank of Baroda has mentioned a maximum home loan amount of Rs 20 crore in its website. However, the lender may also offer a higher loan amount to applicants having higher repayment capacity.