What is Bank of Baroda Home Loan Eligibility?

I learned about Bank of Baroda home loan eligibility when my sister applied for a home loan. She enquired about the eligibility in a few banks and chose to go with the Bank of Baroda. I will tell you about the features of the bank along with the eligibility of home loans.

Baroda Home Loan: Features

• Products for home loans to meet every customer's need

• The approved amount of the home loan varies based on the applicants' income and location.

• Minimal Interest Rates

• Minimal Processing Charge

• No Hidden Fees

• No Penalty for Prepayment

• The interest rate is reset every month and is correlated with the bank's Baroda Repo Linked Lending Rate (BRLLR).

• Interest Rates on Reductions in Daily Balance

• Maximum repayment term of 30 years; Maximum moratorium period of 36 months following loan amount disbursement.

• Mortgages on newly built or acquired property are typically accepted as collateral. Certain types of property, including gold ornaments, government promissory notes, insurance policies, shares, and debentures, may be accepted as collateral for home loans.

Bank of Baroda Housing Loan Eligibility

Resident Type:

• Indian residents

• Individuals of Indian descent (PIOs) with foreign passports, Non-Resident Indians (NRIs) with Indian passports, and Overseas Citizens of India (OCI)

BoB home loan eligibility for Minimum & Maximum Age:

• Applicant:- 21 Years

• Co-applicant:- 18 Years

• Maximum Age: 70 years

• Loan Tenure: up to 30 years.

Maximum Loan Amount

• Mumbai: Rs. 20 Crores

• Hyderabad, New Delhi (including National Capital Region) and Bengaluru: Rs.7.50 Crore

• Other Metros: Rs. 5.00 Crores

• Urban Areas: Rs. 3.00 Crores

• Semi-urban and Rural: Rs. 1.00 Crores

• Chandigarh, Panchkula & Mohali:- Rs. 5 Crores

I am sure now that you know about BoB housing loan eligibility, you can make an informed decision for a home loan.