Home loans in Coimbatore
Dubbed the Manchester of South India, the beautiful city of Coimbatore in the Southern state of Tamil Nadu is an all-round city to live and raise a family in. After having established its recognition in the manufacturing sector, Coimbatore is on the way to becoming an IT hub as well. All this has resulted in a high demand for real estate in Coimbatore. If you aspire to buy a home in this futuristic city, you can take advantage of Bank of Baroda home loans in Coimbatore.
Purpose of the loan
You can take a home loan to purchase an under-construction property, a property of which the construction is completed or a pre-existing property. The loan can also be availed to purchase a plot of land on which you would like to construct a home as per your choice. If you have an already existing home loan, you can avail a top-up home loan if you need funds. Moreover, you can also take on a home-renovation or remodelling loan if you need to make any repairs on your existing home 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
You are eligible for a Bank of Baroda home loan if you are an Indian National residing in India or a Non Resident Indian and between 21 to 70 years of age (at the end of the Loan Tenure) . You could be a salaried or self-employed individual, all you need to provide are the documents listed in the loan application form, along with income and employment proof documents for the bank to assess your repayment capacity.
Basics of opting for a bank of Baroda home loan in Coimbatore
- A home loan is a secured loan. The property you purchase on loan will be -mortgaged by the bank as collateral. The property will be released to you completely once the entire loan is paid off.
- Bank of Baroda provides loans amount based on the property value considering regulatory guidelines for the Loan to value Ration(LTV).The Bank offers need based principal loan amount.
- Bank of Baroda offers some of the lowest interest rates on home loans. You can get the loan at interest rates beginning at BRLLR of the Bank linked with Repo Rate based on the Bureau score.
- Bank of Baroda understands that a home loan is a high value loan. This is why we offer loan tenures of upto 30 years on your home loan in Coimbatore. High tenures facilitate borrowers to repay the loan in easy and affordable equated monthly instalments.
- Since the interest rates are low and loan Tenure is high up to 30 years, your EMI also reduces automatically.
Loan processing fees
- The bank levies 0.25% to 0.50% +GST loan processing fee on home loan amount, minimum ₹8500 and maximum ₹20,000 plus GST
- NRIs can also avail a home loan.
Waiver on pre-closure charges
- If you choose to prepay your entire loan before the loan tenure ends, Bank of Baroda does not levy any pre-closure penalties.
- You may take out a joint loan with your spouse or any other earning family member. Doing this can increase your chances of getting a high loan amount. Both applicants can also reap home loan tax benefits.
- On your Bank of Baroda home loan, you get a free credit card. You can also get 0.25% concession in ROI if you take a car loan along with free accident insurance with your home loan.
Home loan types
- A housing loan in Coimbatore can be used to take out a wide variety of loans. Some of the special loans offered by Bank of Baroda include:
- Home Improvement loans
- Baroda Pre-approved Home Loan
- Baroda Home Loan Advantage
- Baroda Home Loan Suraksha Personal Loan
- Pradhan Pantri Awas Yojana
Perks of owning a home in Coimbatore
- Coimbatore is recognised as a business and Industrial Centre and as one of the top 20 smart cities of India.
- It provides the best of civic amenities, seamless mobility and is also known for its sustainable environmental implementations.
- Coimbatore is an affordable Indian city where real estate prices are guaranteed to double within a decade.
- Coimbatore has already established itself an Industrial hub of South India.
- With a high potential for residential real estate, home loans in Coimbatore have become increasingly popular.
home loan in Coimbatore, Housing loan in Coimbatore