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Home loans in Bhopal

Home loans in Bhopal

Home loans in Bhopal

The capital city of the State of Madhya Pradesh, Bhopal often appears in the list of the best cities in India to live in. It is one of the few cities known for its fantastic civic amenities, fine educational and health care institutions and great public transportation services. Despite undergoing rapid development, Bhopal is an affordable city to live in. The city is named in the Government of India’s development under Smart Cities list as well. If you wish to invest in Bhopal real estate, now is a good time. Bank of Baroda can assist you with your home loan needs.

All you need to know about Bank of Baroda’s home loans in Bhopal

Aspects of the loan

Simple application Process

Visit any of nearby Bank of Baroda branch, fill up the Home loan application form, submit all the listed documents or you can apply online also by clicking the link provided for Home Loan on our Bank’s website www.bankofbaroda.com.Bank of Baroda offers high amount home loans. The bank levies floating interest rate on the principal loaned amount and the borrower can repay the loan in Easy equated monthly instalments over a stipulated tenure. The EMI amount depends upon the interest rate levied and loan tenure and consists of both, the principal amount and the interest rate. On your Bank of Baroda home loan in Bhopal, you would typically get

 Bank of Baroda provides maximum loans amount based on the property value considering regulatory guidelines for the Loan to value Ratio (LTV) and Gross Monthly/annual income of the applicant. The Bank offers need based principal loan amount

Age group

  • Loans are offered to individuals between the age groups of 21 years to 70 years (at the end of the loan tenure).
  • Loan tenure of a minimum of 5 years up to a maximum of 30 years
  • One of the lowest home loan interest rate in the market i.e.  at BRLLR of the Bank linked with Repo Rate  based on the Bureau score.
  • A very low EMI  due to lowest rate of interest and highest tenure up to 30 years.

The bank levies 0.25% to 0.50% +GST loan processing fee on home loan amount, minimum ₹8500 and maximum ₹20,000 plus GST.However, Bank of Baroda has waived off any charges related to pre-closing a loan before the end of its stipulated tenure.

Reasons to apply for a Bank of Baroda Home loan

  • It is very easy to apply for a Bank of Baroda home loan as the entire process; from loan application to approval until disbursal is very simple. Our agents will also provide you the guidance/support you need throughout the process.
  • The documents required to get your home loan in Bhopal approved are very straightforward and easy for the borrower to provide.
  • Your home loan comes with special benefits such as a free credit card, a free accident insurance and 0.25% concession in ROI if you need a car loan.
  • You can use your existing home loan to take on additional loans such as a top-up loan (available up to 5 times during your entire loan repayment tenure), a home renovation loan and an extension loan.

Who is eligible for the loan?

  • Bank of Baroda offers home loans in Bhopal to Indian Nationals; Resident or Non-resident. 
  • The loan can be availed by salaried employees, businessmen and self-employed individuals.
  • The loan can be availed by joint applicants; you can name your spouse, parents or siblings or any other earning family member as the joint applicant to avail higher value loans.
  • You need to be between the ages of 21 and -65years when you apply for the loan.

Reasons for investing in Bhopal real estate

  • Bhopal is on the Government of India’s development under Smart Cities list.
  • Bhopal’s vibrant industrial base has opened doors for several employment opportunities in the city
  • Despite being a big city offering all the necessary civic amenities, property rates in Bhopal continue to remain affordable.
  • Bhopal is witnessing development at a rapid pace with IT companies and MNC’s setting up bases and branches in the city.
  • Several real estate companies are setting up residential as well as commercial projects in Bhopal.
  • Special economic zones are also coming up in the city.

So what are you waiting for? Walk in to your nearest Bank of Baroda branch and apply for a home loan in Bhopal.

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