Loans & Borrowings Articles

  • Know more about prepayment of a home loan!

    By : Bank of Baroda
    05 May, 2020

    If you are looking to reduce your debt burden, you should consider prepayment of home loan. As soon as your finances improve, you can choose to finish your home loan, either in part or in full. If you repay your home loan completely or in part before the scheduled tenur...

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  • How to Claim Car Loan Tax Exemption ? | Bank of Baroda

    By : Bank of Baroda
    05 May, 2020

    Introduction: Cars are considered a luxury product in India and many people avail loans to purchase their dream cars. But did you know that you can avail car loan tax benefit? Yes, you read that right. Much like the education and home loan, car loan benefits in income...

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  • Education Loan Tax Benefit

    By : Bank of Baroda
    05 May, 2020

    All You Need to Know About Education Loan Tax Benefits under Section 80E of the Income Tax Act Investing in a sound education has always been considered a worthy investment. A good degree can set you on the path of financial independence. But the costs associated with ...

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  • Difference Between Credit Card & Debit Card

    By : Bank of Baroda
    05 May, 2020

    4 Differences between Credit Card and Debit Card When you open a bank account, you are provided with a cheque book, a passbook and an ATM-cum-debit card, also known simply as a debit card. After you’ve held your account with the bank for some time, the bank may e...

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  • What Is Overdraft Facility? All You Need To Know!

    By : Bank of baroda
    27 Feb, 2020

    When you open a bank account, you are provided with a bouquet of financial services. The bank provides a cheque book and a passbook to help you manage and maintain your accounts. Furthermore, you are provided with an ATM cum debit card, net and mobile banking facilities...

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  • How to buy a mobile phone on EMI using a Debit Card?

    By : Bank of Baroda
    28 Jan, 2020

    Did you know that it is possible to buy a mobile phone on EMI? Yes. It’s possible. All you need is a pre-approved customer to avail ‘On The Fly Debit Card EMI’ by Bank of Baroda, and the smartphone of your choice can be yours. Buying a phone can be a ...

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  • 6 Effective ways by which your CIBIL Scores can Improve

    By : Bank of Baroda
    01 Nov, 2019

    One of the most important prerequisites for taking on any kind of loan today, is your CIBIL score. Whether it is a home loan, a vehicle loan, a personal loan or any other kind of loan Applicant, banks always check one’s CIBIL scores. Also known as credit score; t...

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  • 7 Step-guide to applying for a Home Loan

    By : Bank of Baroda
    01 Nov, 2019

    All of us dream of becoming homeowners. It is a way of ensuring lifelong financial security; the kind that does not come from living in a rented home. But buying a home is a complicated process. Whether it is years of savings to be given as down payment, or finding the ...

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  • Your Complete Guide -To The Home Loan Disbursement Process

    By : Bank of Baroda
    01 Nov, 2019

    Now that you have a thriving career, you are done living on rent. You have already picked your dream house.You have also narrowed down on the bank that you want to borrow your home loan from-like for example Bank of Baroda, based on low attractive interest rates, flexib...

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  • What is the best age to go for a Home Loan?

    By : Bank of Baroda
    01 Nov, 2019

    Buying a home is a dream for every individual across the globe. The only problem is affordability. Buying a house needs to fit the budget. One’s dream need to be realistic in order to achieve it. From a lender’s point of view a person becomes eligible for l...

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  • How Mortgage loans work?

    By : Bank of Baroda
    01 Nov, 2019

    Home loan or Mortgage loans is without a doubt the longest loan a person takes in his lifetime. Most other loans like personal, education and automobile loans are of shorter duration but a home loan can last for as high as 30 years. It is thus very important to understa...

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  • What is an EMI?

    By : Bank of Baroda
    01 Nov, 2019

    A loan is always taken for a specific purpose, be it a housing loan, an automobile loan, an education loan or a personal loan. Whenever a loan is taken it has to be returned to the lender. These repayments are done in a specific format where the amount is deducted from ...

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  • How to remove car loan hypothecation after car loan repayment?

    By : Bank of Baroda
    01 Nov, 2019

    A secured loan is a loan in which an asset is hypothecated to the lender. Since the lender finances the purchase of the asset, the original purchase papers of the asset are with the lender. When it comes to purchase of a home, the asset’s ownership shifts to the b...

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  • How to get a personal loan with a bad CIBIL score

    By : Bank of Baroda
    01 Nov, 2019

    With a number of lenders proliferating across the country borrowing money is no longer difficult. The number of phone calls we get on a daily basis selling personal loans is an indication of how the lenders are now chasing people to borrow. However, it may be easy to b...

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  • Why is a CIBIL Score Important?

    By : Bank of Baroda
    01 Nov, 2019

    Started in 2000, CIBIL or the Credit Bureau is an authorized credit information company that tracks debt repayment history and provides a credit score accepted by a vast network of financial institutions as a valid benchmark to examine a potential borrower’s credi...

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  • What Is A Personal Loan

    By : Bank of Baroda
    01 Nov, 2019

    A personal loan does not require the borrower to provide collateral and so it is an unsecured loan. The purpose or intention of a personal loan is to fund immediate financial contingencies. It could be for business capital, marriage, medical expenses or even foreign tri...

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  • How to Get a Car Loan?

    By : Bank of Baroda
    01 Nov, 2019

    Now that you have zeroed in on your dream car after test driving a few of them, you probably cannot wait any longer to buy it. Now the next obvious question is, what are your financial options for buying the dream car? For many of us, a car loans seems like a comfortabl...

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  • Computing Your Car Loan EMI Made Easy

    By : Bank of Baroda
    01 Nov, 2019

    Every individual’s journey to buy a car is unique. It begins with where the individual is in his/her career, and the choice of vehicle they want, which is mainly based on why they want the car. During the process, they also focus on how they can get a car loan tha...

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  • Advantages of personal loans to raise funds

    By : Bank of Baroda
    01 Nov, 2019

    There are times in everyone’s life when there is a sudden need for money. The immediate choice is generally to use a credit card or to borrow money from friends or family members. With net-banking now in place and more lenders chasing fewer borrowers, raising mon...

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  • The 3 Easy Steps to Calculate EMI on Personal Loan?

    By : Bank of Baroda
    01 Nov, 2019

    A personal loan does not require the borrower to provide collateral and so it is an unsecured loan. Since these are unsecured loans, the rate of interest on these loans are believed to be quite higher than all other types of loans. The purpose or intention of a personal...

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  • How does an EMI on debit card work?

    By : Bank of Baroda
    01 Nov, 2019

    With the exponential growth and increase in online shopping and the number of products available, the modes of payment for these purchases have also evolved. It is no longer necessary to pay upfront in cash. One very popular option that people use is to convert purchase...

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  • How to buy a house in India? All you need to know.

    By : Bank of Baroda
    01 Nov, 2019

    Buying a house is a dream for a many people in India. However, the process to buy a house is not as simple as looking it up and buying it instantly. There are a lot of factors to consider and a fair bit of due diligence is required on the part of the buyer before the ho...

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  • Applying for an education loan – the procedure you need to follow

    By : Bank of Baroda
    01 Nov, 2019

    We have all heard the age old saying that the path to a great career and successful life is paved through a quality education. Holding a higher education degree opens up many career avenues and helps you secure your financial future. But with the ever-rising cost of col...

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  • How much home loan can I get as a salaried employee?

    By : Bank of Baroda
    01 Nov, 2019

    Real estate rates are rising with every passing day. It is no longer feasible for one to purchase a home simply with the help of their savings. You need to approach a bank to take out a home loan. But lenders need to be sure that you have the capacity to repay the loan,...

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  • How the Pradhan Mantri Awas Yojana Scheme is a futuristic, beneficial schem...

    By : Bank of Baroda
    01 Nov, 2019

    We all dream of owning a home. Whether it is a small 1BHK or a bungalow, a home is the ultimate financial security one can have. It can provide you and your family a safe heaven, it can take care of the financial future of your children and it can also be used as collat...

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  • How to apply for an education loan – a step by step guide

    By : Bank of Baroda
    01 Nov, 2019

    The cost of seeking a quality education is rising every day. Schools and universities charge fees to the tune of several lakhs of rupees, making it impossible for parents to fully fund their child’s education. High costs of education are especially a burden on par...

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  • Home Loans for Women (Benefits)

    By : Bank of Baroda
    16 May, 2019

    All of us dream of become homeowners. It is a way of ensuring lifelong financial security; the kind that does not come from living in a rented home. But buying a home is a complicated process. Whether it is years of savings to be given as down payment, or finding the ri...

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