Mortgage Loan EMI Calculator
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Loan Amount:
₹5000000 -
Rate of Interest(%):
9.15 -
Loan Terms:
120 -
Equated Monthly Installment (EMI) will be
Baroda Ashray (Reverse Mortgage Loan)
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Benefits
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Features
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Eligibility
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Interest rates & charges
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Documents Required
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Most Important Terms and Conditions (MITC)
Baroda Ashray (Reverse Mortgage Loan) : Benefits
Coming Soon
Baroda Ashray (Reverse Mortgage Loan) : Features
Coming Soon
Baroda Ashray (Reverse Mortgage Loan) : Eligibility
- Should be senior citizen of India, above 60 years of age.
- Married couples will be eligible as joint borrowers provided one of them is above 60 years of age and age of spouse is not below 55 years at the time of application.
- Should be the owner of a residential property (house or flat) located in India in his/her own name.
Residential property should be used as permanent primary residence (fully self-occupied property).
The commercial property will not be taken as a security under the product.
Security
Simple/Equitable mortgage of the residential property.
Tenure
15 years. The tenure may further be extended till survival of the borrowers subject to advance value of the property.
Insurance
Insurance of the residential property mortgaged to the bank shall be regularly taken. The premium charges are to be borne.
Baroda Ashray (Reverse Mortgage Loan) : Interest rates & charges
Product | Conditions | Repo Rate + Spread | Effective Rate of Interest | |
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Baroda Ashray (Reverse Mortgage Loan) |
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Repo Rate + SpreadBRLLR + SP + 2.35% |
Effective Rate of Interest0.00% |
Baroda Ashray (Reverse Mortgage Loan) : Documents Required
Coming Soon
Baroda Ashray (Reverse Mortgage Loan) : Most Important Terms and Conditions (MITC)
Maximum Amount
The maximum loan amount inclusive of interest tenure of the loan shall be restricted to Rs. 1 crore subject to value of the property.
Option to adjust payments
The bank shall have the option to revise periodic annuity amount, if lump-sum payment is taken or at the interval of every 5 years based on valuation of the property.
Repayment of Loan
The loan shall become due and payable when the last surviving borrower dies or would like to sell the home/permanently moves out of the home for aged care to an institution or relatives. The loan will, as such, become due for recovery and payable.
- Settlement of loan, along with accumulated interest, to be met by the proceeds received out of sale of residential property.
- The borrower(s) or his/her/their estate shall be provided with the first right to settle the loan along with accumulated interest, without sale of property. A reasonable period of 2 months may be provided when repayment is triggered, to be sold.

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Can I avail of 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, you are
- A minimum 21 years of age.
- Employed or self-employed with regular income.
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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 of the co-applicants. Usually joint applications are from husband-wife, father-son, mother-son, etc.
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How much does Bank of Baroda lend?
Loan amount is determined on the basis of the repaying capacity of the applicant(s). For calculating the repaying capacity, various factors are taken into consideration 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 the loan up to 90% (for fresh houses/flat) of the cost of property under our housing loan scheme.
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What is the average tenure of a home loan?
We grant a term up to 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.
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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.
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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.
Or - Fixing the monthly/quarterly instalments on graduated basis is permitted of EMI as requested by customers.
- 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.
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What is the security for the loan?
The security for the loan is equitable mortgage of the property to be financed.
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Do you insist on LIC policy as additional collateral security?
No, it is not mandatory.
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What are the supporting documents required while applying for the loan?
Common requirements for all applicants:
- Application form duly filled in (with photograph of all the applicant).
- Residence and age verification, which may be established from the PAN card, election ID, passport, drivers’ license, 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 the guarantor is in business, copies of I.T. returns or assessment orders for the last three years are required.
- Bank passbook 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.
Additional requirement
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.
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Do you have any housing loan product for NRIs?
Yes. We have Housing Loan products for NRIs/PIOs. For details, please visit our website at housing loans to NRIs/PIOs.