As I was looking for a home loan, my father told me to take it from the Bank of Baroda since I already had an account there. I got in touch with the bank and asked them about the Bank of Baroda home loan processing charges. They told me that the charges would be somewhere between 0.25% - 0.50%.
What are the Bank of Baroda Home Loan Processing Fees?
Along with the processing fee of 0.25% - 0.50%, I also learned about a few other details, which are already mentioned in the answer provided by Sushma. To learn about that, you can refer to her answer.
From the bank, I also learned about the documents I needed to provide for the home loan after they told me about the home loan processing fee Bank of Baroda. Here are those
Duly Filled and Signed Application form along with three Photographs.
Proof of Identity - PAN Card, Driver’s License, Voter ID, Passport, Aadhar Card.
Proof of Residence - Driver’s License, Ration Card, Voter ID, Passport, Aadhar Card, Registered Rent Agreement.
The bank also told me that if I am a salaried employee, then I needed to provide these additional documents.
Latest 3 months' Salary Slips & latest 1-month salary slip for Guarantors.
Form 16 & ITR – last 1 year of Applicants.
Copy of employee identity card provided by the employer.
Appointment /Confirmation / Promotion /Increment letter evidencing duration of employment.
6 months Bank A/c statement or Account No if the account is with BoB.
And that is what I learned about the Bank of Baroda home loan processing charges. Hope this helps.
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Many of my customers who come for a
Bank of Baroda
home loan do not know about the processing fees. I always explain to them that this charge covers the costs that the bank or lender incurs in processing the loan. It is often paid by the borrower individually and is not deducted from the loan amount. The
Bank of Baroda home loan processing fees is 0.25% - 0.50%.Let me tell you more about it.
Bank of Baroda Processing Fee Home Loan
Following charges are included in the processing fee for home loan by Bank of Baroda.
Charges for document verification and screening
Pre-approval Inspection Fees (Contact Point Verification, CPV)
One-time fees for the post-inspection
Attorney fees for legal advice
Valuer fees for the evaluation
Charges for bureau reports
CERSAI charges
ITR Verification Charges
Home Loan Processing fee Bank of Baroda
| Area of Banking Service | Service Charges (excluding GST) w.e.f. 20.06.2019 |
Baroda Home Loan & Baroda Home Improvement Loan |
|
Baroda Home Loan Top Up |
0.35% Minimum: Rs 5,000 (upfront) Maximum: Rs 12,500 |
Takeover of Home Loan (Resident /NRI/PIOs) |
Flat: Rs 8,500 (upfront) |
Pre-Approved Home Loan (In- Principle Sanction) |
0.25% - 0.50% Rs 8,500 (upfront). Suppose the borrower submits the property documents within the validity period of a pre-approval letter. In that case, the balance amount of unified processing charges applicable to Home Loan will be recovered from the borrower. |
Now you know the
processing fee for home loan in Bank of Baroda.
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Authors Of The Question
What is Bank of Baroda Home Loan Processing Fee?
Kajal
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2 Answers
11 months
2024-01-24T10:42:52+00:00 2024-01-24T10:42:52+00:00Comment
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