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Home loans in Vadodara1

Home loans in Vadodara

Home loans in Vadodara

The third largest city in the Western State of Gujarat, Vadodara or Baroda has always been known for its affordable real estate prices, large plots and spacious homes. It is home to several large scale industries in India, which are responsible for providing employment to a large number of people. The ever-increasing population of the English working class has resulted in Vadodara being viewed as a corporate hub with many IT investors setting up offices here. These aspects have contributed to the demand and popularity of the city’s real estate. If you want to benefit from this booming real estate of Baroda, you can take a Bank of Baroda home loan in Vadodara.

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.

Terms of your Bank of Baroda home loan

You can simply walk into any Bank of Baroda branch to get your loan process started. Bank of Baroda offers high value home loans in Vadodara and other cities in Gujarat. The terms of the home loan include:

The principal loan amount

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.

The interest rate

Bank of Baroda levies one of the lowest home loan interest rates in the market. Loans are offered at BRLLR of the Bank linked with Repo Rate based on the Bureau score.

The loan tenure

You can repay your loan flexibly since Bank of Baroda offers loan tenures up to 30 years, as opposed to 20 years offered by most lenders.

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.

Repaying the loan

The loan can be repaid in easy, pocket-friendly low EMIs due to lowest rate of interest and highest tenure up to 30 years.

The EMI you pay depends upon your principal loan amount, interest rate and tenure and comprises partly of the principal loan amount and partly of the interest amount.

Pre-closure charges

Borrowers can breathe a sigh of relief as the bank has waived off all pre-closure charges on home loans. You can pay off your loan anytime without incurring any pre-closure penalties.

Types of Loans

Depending upon the value of the home you wish to buy and your budget, you can choose from a wide variety of Bank of Baroda home loans. Our home loans are designed to suit all kinds of borrowers. Popular loans offered by the bank include

  • Baroda Home Loan
  • Baroda Home Loan Advantage
  • Baroda Pre Approved Home Loan
  • Home Improvement Loan
  • Baroda Home Suvidha Personal Loan
  • Pradhan Pantri Awas Yojana

Loan Eligibility

The following people are considered as eligible for a Bank of Baroda Home loan in Vadodara

  • Nationality: Indian Nationals; Resident or Non Resident are eligible for the loan
  • Borrower type: Salaried employees, self Employed individuals and businessmen may apply for the loan.

Age group

The loan can be availed by employed individuals between the ages of 21 and -70years (at the end of the loan tenure).

  • Joint applicants: You may list an earning member of your family as a co-applicant such as your spouse, parent or sibling (any family member as per bank’s list of close relatives) to get a higher loan amount.
  • Free credit card: When you take a home loan in Hyderabad, you get a free credit card on your home loan.
  • Additionally, you also qualify for a 0.25% concession in ROI on car loans taken with the bank.
  • Free accident insurance: Bank of Baroda offers free accident insurance when you take out a home loan.

Investing in Vadodara real estate – the advantages

  • Investing in Vadodara at its current property rates can help secure your financial future as Vadodara’s real estate climate is experiencing a major change.
  • With newer commercial and residential projects being set up in Vadodara, real estate prices are guaranteed to increase in the near future.
  • The English speaking working class of Vadodara has  influenced many IT investors choosing Vadodara over Gujarat to set up corporate offices, thus increasing employment opportunities.
  • You can even take a home loan in Vadodara to purchase a plot as plot values are likely to appreciate.

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home loans in Vadodara

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