Bank announces Financial Results for quarter ended, 30th September 2023.
Bank of Baroda (UK) Ltd announces its intention to wind down and close its UK retail banking activities
Visit our website https://www.bankofbarodauk.com/ for any further information.
NOTIFICATION DATED 27.06.2023 FOR SALE / ASSIGNMENT OF FINANCIAL ASSET (NPA) to ARCs (E-AUCTION ON 14.07.2023)
As per revised RBI directives all our Locker-holders are requested to visit Bank of Baroda, Base Branch.
With Bank Of Baroda personal loan, you get lowest interest rates, instant approval with minimal documentation. Checkout Bank of Baroda personal loan interest rates & eligibility. Apply now!
Apply for Bank of Baroda Home Loan online at the lowest interest rates. Checkout our home loan eligibility, interest rates, documentation. Get instant home loan approval. Apply now!
Car Loan: Apply for auto loan online by Bank of Baroda at an attractive interest rates & easy EMI option. Upto 90% financing on on-road price. Buy your dream car today!
Why should finance come in the way of future? Getting an education loan is an easy way to finance your dreams. A student loan can help you get into the university of your choice. Bank of Baroda is here to finance your dreams, education & career goals.
The easiest way to save for you, for your loved ones, and for your future. A savings account gives you the liberty to choose according to your needs and additionally give you benefits for all your transactions. With a gamut of savings account features on the table, Bank of Baroda is here to make your banking simple and easy!
Open Current Account online at Bank of Baroda to meet all your banking needs. Go to our website to learn more about the different types of current accounts we offer and apply now!
Bank of Baroda deposit plans offer convenient solutions to both working individuals as well as senior citizens. These deposits are categorised into deposits with a term period of less than 12 months, more than 12 months and recurring deposits.
An account for all. B3 Silver Account comes with maximum savings and zero Quarterly Average Balance (QAB). Also, make the most of coins and annual offers from Loyalty Rewardz to fulfill yearlong subscriptions and shopping.
Locate Us, Anytime, Anywhere
Bank of Baroda focuses on its employees, offering a career rather than just a job. Various initiatives are in place to groom employees throughout their life cycle. A comprehensive talent management system to groom future leaders of the bank.
Bank of Baroda offers various types of personal banking cards such as Credit, Debit, Prepaid, Business & Travel Cards. Choose the one best suited card for your needs.
Let your property help you pursue your dreams.
Rate of Interest (%):
Loan Terms (monthly):
Equated Monthly Installment (EMI) will be
Bank of Baroda brings to you - Mortgage Loan - an innovative combination of a loan and overdraft facility with flexible repayment options against the security of your immovable property. Check out your loan against property eligibility and get exclusive add on benefits and tax benefits.
Loan of individuals under Baroda Mortgage loan can be taken over without obtaining income document, subject to compliance of following conditions:-
(No EMI in last 12 months exceeded 30 Days past Due).
EMI of proposed Mortgage Loan (with or without increase) should remain upto the extent of EMI of loan to be taken over from existing lender.
If the applicant / co applicant/s, whose income is considering for eligibility includes both Resident and NRI, Minimum Gross Annual Income put together should be Rs.5 Lacs (inclusive of co-applicant/s’, whose income is considering for eligibility)
Addition of co-applicants:
The close relatives of the applicant can be added as a co-applicant for higher eligibility, with or without being an owner/ joint owner of the property.
If the applicant wants to add any person who is not a close relative as co-applicant, same can be considered subject to he/ she should be the owner / joint owner of the property, offered as collateral.
In case, if the income of owner/ joint-owner/s of property are not considered for eligibility, he/she should be made as an applicant / co-applicant. In such cases, upper age criteria/ employment criteria will not be applicable for these applicant/ co-applicants.
List of Close Relatives:
Spouse, Father, Mother (including Step Mother), Son (including Step Son), Son’s wife, Daughter (including Step Daughter, Daughter’s husband, Brother / Sister (including Step Brother / Sister), Brother’s wife, Sister (including step sister) of spouse, Sister’s husband, Brother (including step brother) of spouse.
Minimum - 21 years
Maximum - 60 years
(Applicant’s/Co-borrowers’ age + Loan tenure should not exceed retirement age for salaried class & 65 years for NRIs & others)
*terms & conditions apply.
In case of applicants who have not availed any credit facility from other Banks, they should bank exclusively with us and should also not maintain any current account with other banks.
In case of applicants who have availed any credit facility from other Banks, possibility to be explored to take over the same from other Bank, while considering the existing proposal.
An unlisted Public Limited Company can avail loan under Baroda Mortgage Loan Scheme on following conditions:
Following individuals have to stand either as co-applicant or as guarantor:
List of Close Relatives:Spouse, Father, Mother (including Step Mother), Son (including Step Son), Son’s wife, Daughter (including Step Daughter), Daughter’s husband, Brother / Sister (including Step Brother / Sister), Brother’s wife, Sister’s husband, Sister (including step sister) of spouse, Brother (including step brother) of spouse.
*Minimum: Rs 8,500/- (Upfront) per property
*Maximum: Rs 1,50,000/-
Upto Rs 3.00 Crores: 0.35%
*Maximum: Rs 75,000/-
Above Rs 3.00 Crores: 0.25%
*Minimum: Rs 8,500/- (Upfront) per property
*Maximum: No Limit
List of Documents to be submitted by the Applicant/s
(Separate Form No. 135 is not required)
Property Related Documents:
For All category of borrowers:
Bank has revised the unified processing charges and modified method of recovering processing charges as under:
Eg: Sanctioned/ last reviewed on : 01.01.2016 for Rs.50 Lacs
Enhancement to Rs.60 Lacs on : 30.06.2016
Processing Charges to be calculated as under:
For Rs. 50 Lacs: Proportionate charges for 6 months
For Rs.10 Lacs : Full processing charges
** The above upfront charges considered as if only one property is offered as security. If two or more properties are offered as security, Rs.8,500/- per additional property would be applicable as upfront charges in addition to minimum upfront charges as mentioned above (subject to overall stipulated maximum processing charges).
Mortgage of Immovable Properties:
Minimum: Rs.8,500/- (Upfront) per property **. Balance amount of processing charges will be recovered at the time of conveying sanction
Maximum: No Limit
** Term Loan: Prepayment charges to be calculated based on scheduled amortization balance or outstanding balance, whichever is higher.
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Frequently Asked Questions (FAQs)
Mortgage loans are also synonymously called loans against property, taken against an asset (property/real estate) to avail funds. The asset could be an immovable asset such as a house, or commercial property, offered as collateral to the lender (bank).
Indian residents, Non-resident Indians and non-individual entities like proprietorship firms, partnership firms, Pvt. Ltd. Company and LLP can apply for a mortgage loan.
Please visit the bank’s website to know more about the BOB mortgage loan rate of interest here.
A loan against property is a good idea in many aspects. If you take a loan against property, you will avail a host of benefits like a lower rate of interest, easy repayment terms, low-cost EMIs, an overdraft facility and many more.
The mortgage home loan process begins with a background assessment of the income and property of the applicant. Generally, a lender (bank) checks the income eligibility and acceptability of security (property) in the market offered against the loan. Then, a loan is disbursed depending on the market value of the collateral.
To apply for a mortgage loan, visit the link or our nearest branch.
There are 3 criteria for taking loan against property eligibility.
Many benefits come along with securing a mortgage loan.
To know more, speak to our nearest branch staff.
To avail pre-approved loan against property, you need to maintain a satisfactory balance with the bank along with a few documents to prove your income.
Both housing loans and mortgage loans (loans against property) have distinct purposes to serve. Hence, one mortgage loan cannot be converted into a housing loan.
Check the installments due against a chosen tenure and their effective rate of interest with the Bank of Baroda loan against the property EMI calculator.
It is favourable to have a credit score of 750 or above. The banks' lending secured loans, such as a mortgage loan. It is highly important to maintain a good credit score to gain more attractive terms on secured loans.
This is to inform you that by clicking on continue, you will be leaving our website and entering the website/Microsite operated by Insurance tie up partner. This link is provided on our Bank’s website for customer convenience and Bank of Baroda does not own or control of this website, and is not responsible for its contents. The Website/Microsite is fully owned & Maintained by Insurance tie up partner.
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