- 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.
- No need to submit latest income documents for assessment of repayment capacity i.e. calculation of income criteria /FOIR
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
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
Total deductions including proposed EMI should not exceed as follows:
|GMI less than Rs.20, 000/-
|GMI Rs.20, 000/- and above but less than Rs.50, 000
|GMI Rs.50, 000/- and above but less than Rs.2.00 lacs
|GMI Rs.2.00 lacs and above but less than Rs.5.00 lacs
|GMI Rs.5lacs and above
|Average Gross Annual Income (For last -2- years) up to Rs.6 lacs
|Average Gross Annual Income (For last -2- years) more than Rs.6 lacs
Margin Norms & Loan to Value (LTV) Ratio
|Loans up to Rs.30/- Lacs
|Loans above Rs.30/- Lacs up to Rs.75/- Lacs
|Loans above Rs.75/- Lacs
- Mortgage of the Property constructed/ purchased
- Maximum period of loans shall be -30- years initially, including the maximum moratorium period of -36-months