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Home Loan EMI Calculator
Equated Monthly Installment (EMI) will be₹49,209
Interest rates & charges
Most Important Terms and Conditions (MITC)
- Low Interest Rates
- Low Processing Fee
- No Hidden Charges
- No Pre Payment Penalty
- Interest charges on Daily Reducing Balance
- Top up facility is also available.
- Facility available for linking HL with SB a/c.
- Any credit balance in SB a/c at the end of day will be counted for credit in linked HL a/c.
- 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.
- Non Individual entities can stand as an applicant/co-applicant/guarantor along with the individual applicant(s).
Eligibility for Individual applicant
- Minimum cut off CIBIL score must be 701.
- Moratorium period must have been completed with the existing lender.
- Minimum 12 EMIs must have been paid.
- Satisfactory repayment behaviour of the borrower.
Eligibility for Non Individual entities can stand as an applicant/co-applicant/guarantor along with the individual applicant(s).
- There must be an Individual applicant/co-applicant in the proposed facilities.
- Minimum 18 EMIs have been paid.
- The firm/company should be incorporated for at least 5 years.
- The firm/company should be actively engaged in business activities for at least 2 years.
- The firm/company should be earning the cash profits for last 2 years.
- Net worth of the firm/company should be positive.
- The firm/company should not have slipped into SMA 2 category during last 12 months.
- The CIBIL of the firm/company should be satisfactory.
- The name of the firm/company should not be adversely in RBI defaulter’s list, ECGC Caution list/SAL, Suit filed/Non-Suit filed CIBIL list, CRILIC, etc.
- Minimum: Borrower - 21 years, Co-applicant - 18 years.
- Maximum: Maximum age can be considered up to 70 years*.
Maximum Loan amount
- Mumbai : Rs. 20 Crores
- Other Metros : Rs. 7.50 Crores
- Urban Areas : Rs. 3.00 Crores
- Semi-urban and Rural : Rs. 1.00 Crores
- Chandigarh, Panchkula & Mohali:- Rs. 5 Crores
Total deductions including proposed EMI should not exceed as follows:
|Gross Monthly Income less than Rs. 20,000||50%|
|Gross Monthly Income Rs. 20,000 and above but less than Rs. 50,000||60%|
|Gross Monthly Income Rs. 50,000 and above but less than Rs. 2 lakhs||65%|
|Gross Monthly Income Rs. 2 lakhs and above but less than Rs. 5 lakhs||70%|
|Gross Monthly Income Rs. 5 lakhs and above||75%|
|Average gross annual income (for last 2 years) up to Rs. 6 lakhs||70%|
|Average gross annual income (for last 2 years) more than Rs. 6 lakhs||80%|
Margin Norms & Loan to Value (LTV) Ratio
|Loan Amount||Margin||LTV Ratio|
|Loans up to Rs. 30 lakhs||10%||90%|
|Loans above Rs. 30 lakhs & up to Rs. 75 lakhs||20%||80%|
|Loans above Rs. 75 lakhs||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 a 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 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, 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 crores per unit to any individual applicant based on the area where property is proposed to be constructed/purchased. We will extend loan up to 90% (for fresh houses/flat) of the cost of property under our housing loan scheme.
What is the average tenure of a home loan?
We grant term up to 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 lump sum amount, which includes repayment of a part of the principal amount and payment of interest, calculated on daily products basis.
Fixing the monthly/quarterly instalments on graduated basis is permitted on 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.
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 photographs of all the applicants).
- Residence and age verification, which may be established from the PAN card, election ID, passport, drivers licence, 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.
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.
Do you have any housing loan product for NRIs?