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Baroda Home loan Take over scheme

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Baroda Home Loan Takeover Scheme


  • Takeover of Home Loans from other Banks/ HFCs/NBFCs/ FIs etc.
  • Switch your existing home loans to Bank of Baroda. Our home loans are packed with several exclusive features and benefits.
  • Both resident and non-resident Indians are eligible for takeover home loans.

Our housing loan comes with a range of benefits such as:

Take over of existing Home Loan + Top up Loan from other reputed lenders

  • Low interest rates and processing charges: We offer among the best home loan interest rates, making it easier for you to own the home of your dreams. In addition, the processing charges on our home loans are minimal, and there are no pre-closure charges.
  • Free credit card and insurance: With our home loan, you can enjoy a free credit card and concession of 0.25% in ROI for car loans. Additionally, we offer free accident insurance cover with every home loan.
  • You can also opt for group credit life insurance cover when you apply for a home loan. This cover protects the family against the death of the borrower, and the family is not required to repay the home loan to the extent of the claim amount. We finance the Premium amount along with Home loan amount, you can pay the premium for the cover along with the EMIs of your home loan.
  • Longer tenures: With a tenure of up to 30 years on home loans, you don’t need to worry about high equated monthly instalments (or EMIs). Instead, easily repay your home loan in EMI amounts best suited to your financial needs.
  • Top up loans: One of the key benefits of our home loans is that you can apply for a top-up loan during your loan tenure, up to a maximum of five times

Target Group

  • Resident Indians
  • Non-Resident Indians (NRIs) holding Indian passport or Persons of Indian origin (PIOs) holding foreign passport or Overseas Citizens of India (OCI).
  • Staff members (availing under Public scheme)

Eligibility of Borrower/s

  • Individuals singly or jointly


  • Minimum: Borrower – 21 years, Co-applicant- 18 years
  • Maximum: Maximum age can be considered upto 70 Years*

Who is eligible?

  • All resident and non-resident Indians between 21 and 70 years are eligible for our home loans.
  • Repaying a loan already taken from other Housing Finance Company / Bank.
  • Repayment period up to 30 years (floating rate option).
  • Reimbursement of cost of plot of land (purchased within 24 months)
  • Interest rate: Bank of Baroda offers attractive interest rate on home loans. The interest rate is linked to the one-year marginal cost of funds-based lending rate (MCLR) of the bank and is reset annually.
  • Tenure and moratorium: The tenure on our home loans varies based on the loan amount and the income of the borrower, and the maximum tenure is 30 years. There is also a moratorium period on home loans, which can be a maximum of up to 36 months after the loan amount is disbursed.
  • Collateral: the mortgage of the property is accepted as collateral.

Rate of Interest

CIBIL Score Rate of Interest
760 and above One Year MCLR+ Risk Premium
725 and above but less than 760 One Year MCLR + 0.25%+ Risk Premium
675 and above but less than 725 One Year MCLR + 1.00% + Risk Premium
CIBIL : (-1) or (0) One Year MCLR + 0.25% + Risk Premium

Risk Premium : 0.05%
Note: Risk Premium can be waived as an incentive to the borrower, who provide credit insurance cover for the loan for entire tenure of the loan

Unified Processing Charges

    • Upto Rs.50 Lacs : 0.50% of Loan amount + GST
    • Minimum : Rs.7,500/- (Upfront) + GST
    • Maximum : Rs.12,500/- + GST

Group Credit Life Insurance Cover

  • Bank of Baroda is having tie-up arrangements with M/s. India First Life Insurance Co. for providing Life Insurance Cover to our Home Loan borrowers.
  • This is an optional Scheme of Life Insurance and is at the cost of borrower which may be funded by the Bank at the time of sanction and is recoverable with the EMIs of the Loan

Special Home Loan Takeover Scheme

Income Documents

  • Waiver of obtaining latest income documents for assessment of repayment capacity i.e. calculation of income criteria / FOIR


  • Minimum cut off CIBIL Score must be 725 (Avg. Score in line with our Home Loan Program)
  • Moratorium period must have been completed with the existing lender.
  • Minimum 12 EMIs must have been paid (For Loan to be takenover (Home/ Top-up Loan))
  • Equitable Mortgage of the primary security has been created with the existing lender & possession of underlying security should have been obtained by the borrower.
  • Satisfactory repayment behavior of the Borrower (no EMI in list 12 months exceeded 30 Days past Due)
  • Primary security of Home Loan (to be taken over) is not extended to secure any other credit facility other than the existing home loan.
  • Proposed EMI of Home Loan & Top up Loan (if requested) both should remain upto the extent of EMI on existing Home/ Top-up Loan with existing lender

Maximum Loan Amount (Ticket Size)

  • Mumbai: Rs. 10 Crores
  • Other Metros *: Rs. 5 Crores
  • Urban Areas: Rs. 3 Crores
  • Semi-urban and Rural: Rs. 1 Crore

Repayment Capacity

Total deductions including proposed EMI should not exceed as follows:
Salaried Persons

GMI less than Rs.20, 000/- 50%
GMI Rs.20, 000/- and above but less than Rs.50, 000 60%
GMI Rs.50, 000/- and above but less than Rs.2.00 lacs 65%
GMI Rs.2.00 lacs and above but less than Rs.5.00 lacs 70%
GMI Rs.5lacs and above 75%


Average Gross Annual Income (For last -2- years) up to Rs.6 lacs 70%
Average Gross Annual Income (For last -2- years) more than Rs.6 lacs 80%

Margin Norms & Loan to Value (LTV) Ratio

Loan Amount Margin LTV Ratio
Loans up to Rs.30/- Lacs 10% 90%
Loans above Rs.30/- Lacs up to Rs.75/- Lacs 20% 80%
Loans above Rs.75/- Lacs 25% 75%


  • Mortgage of the Property constructed/ purchased


  • Maximum period of loans shall be -30- years initially, including the maximum moratorium period of -36-months

Can I avail of Home Loan from Bank of Baroda?

  • Yes, you can avail a Home Loan from Bank of Baroda, if you plan to construct or purchase a house/flat or extend your existing house/flat and,you are
  • A minimum of 21 years
  • Employed or Self Employed with regular income.

Who can be co-applicant?

  • The proposed owners of the residential accommodation as per the Agreement for sale, in respect of which financial assistance is sought, must be co-applicants. Usually joint applications are from husband-wife, father-son or mother-son etc.

How much does Bank of Baroda lend?

  • Loan amount is determined on the basis of the repaying capacity of the applicant/s. Repaying capacity takes into consideration factors such as age, income, dependents, assets, liabilities, stability of occupation and continuity of income, savings etc.
  • The maximum loan would be Rs.10.00 Crore per unit to any individual applicant based on the area where property is proposed to be constructed/purchased. We will extend loan upto 90% (for fresh houses / flat) of the cost of property under our Housing Loan Scheme.

For how long a period can I get the loan?

  • We grant term upto a maximum of 30 years. The term for the loan will under no circumstances exceed the age of retirement or completion of 65 years of age, whichever is earlier.

But can I prepay the loan ahead of schedule?

  • Yes, you have the option to prepay the loan ahead of schedule either in part or in full from your own sources.

What is the mode of repayment?

  • Equated Monthly Instalment (EMI) : It means a uniform lumpsum amount, which includes repayment of a part of the principal amount and payment of interest, calculated on daily products basis. Or
  • Fixing the monthly / quarterly instalments on graduated basis is permitted of EMI as requested by customers.

What is the security for the loan?

  • The security for the loan is equitable mortgage of the property to be financed. The security for the loan is equitable mortgage of the property to be financed.

Do you insist on LIC policy as additional collateral security?

  • No, it is not mandatory.

What are the supporting documents required while applying for the loan?

Common requirements for all applicants.

  • Application form duly filled in (with photograph of all the applicant).
  • Residence and Age verification, which may be established from the PAN card, Election ID, Passport, Drivers licence and Ration card etc.
  • Copy of approved plan and sanction letter from local civic authority.
  • Copy of NA permission.
  • One/two guarantor/s form/s and salary certificates. - If guarantor is in business, copies of I.T. returns or assessment orders for the last three years are required.
  • Bank Pass-book of statements for the last two years.
  • Latest salary slip/statement showing all deductions in case of employed applicants.
  • Certified copies of Balance Sheets and Profit and Loss accounts, IT acknowledgments, advance tax challans (for both company/firm and personal account) for the last three years in case of self employed applicants.
  • Memorandum/Articles of Association for companies, partnership deeds for firms and a brief profile of your company/firm in case of self employed applicants.
  • Residence and Age verification, which may be established from the PAN card, Election ID, Passport, Drivers license and Ration card etc.

Additional requirement.

In case of purchase from builder

  • Copy of Agreement for sale.
  • Copy of registration receipt.
  • Copy of sanctioned plan & sanction letter of the competent authorities.
  • Copy of NA permission/ULC order.
  • Copies of receipts of payments already made.
  • NOC from builders in our format.

In case of direct allotment in a Co-operative Housing Society

  • Allotment letter.
  • Share certificate.Society registration certificate.
  • Copy of sale/lease deed in favour of the society.
  • NOC from society in our format.
  • Possession letter in original.

In case of resale

  • Copy of all previous vendors agreements duly stamped and registered and the registration receipts. (original to be given before disbursement).
  • NOC from Society/Builder in our format.
  • Original Share Certificate.

Whether you have any Housing loan product for NRIs?

Rate of Interest

Rate of Interest
Loan amount upto Rs.75Lacs

ROI as applicable to regular Home Loan [i.e., Base Rate (9.60% at present)]

Loan amount above Rs.75Lacs

0.25% over the ROI as applicable to regular Home Loan [i.e., Base Rate+0.25% (9.85% at present)]

All other terms and conditions would be as applicable to regular Home Loan scheme.

For Home Loan Inquire

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Toll free (24x7)

1800 220 400

Contact Centres

1800 258 44 55 , 1800 102 4455 (24x7)

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