Bank of Baroda is one of the leading public sector banks of India that has been providing a range of amazing banking products to a total of 127 million customers across 21 countries. Some of its products are personal loans, credit cards, home loan, loan against property, and many more. The list of its products can go on and on. But one of the most amazing products among all these products is the home loan. Given to those individuals who struggle to arrange a large sum of money in order to buy their home, Bank of Baroda home loan has several types such as normal home loan, Home Loan Advantage, Baroda Pre-approved home loan, Home Improvement loan, Home Suvidha Personal loan, and many more.
If you are someone who also has a dream of owning your home one day but short of some funds, then you can opt for a Bank of Baroda home loan. Available at an affordable rate of interest, flexible tenure, and many other brilliant features, it is one of the best home loan options in the market. There are so many prominent benefits that you can avail by opting for this loan. In this article, we will be telling these features in detail so that you can get the gist of them and face no problem while choosing what would be best for you. So, keep reading to know more!
Have a look at some of the prominent features of Bank of Baroda Home Loan:
- Bank of Baroda home loan can be availed for various reasons such as renovation, improvement, repairing and property purchase at an affordable rate of interest.
- The rate of interest is one of the cheapest in the market so you don’t have to worry about it. As you all know that the rate of interest plays a pretty important role in determining your EMI amount.
- You’ll have to pay a pretty minimum processing charges. Also, there is no pre-closure charges.
- When you opt for a Bank of Baroda home loan, you will get the complementary advisory services through which you will get to know which properly would be better for you at which location if you’re confused about it.
- With the help of Bank of Baroda Home Loan, you will also get a free credit card services and 0.25% concession on car loans.
- You would have the option of repaying the loan through easy monthly installments within a maximum repayment period of 30 years. Choose this period according to your repayment capability and monthly income.
- You can also have the option of top-up loan with the Bank of Baroda home loan within the tenure. This top-up loan amount can be of maximum 5 times.
What are the eligibility Criteria of BOB Home Loan?
There are a certain set of conditions that you need to fulfill before applying for a Bank of Baroda home loan. You can have a look at them mentioned below.
- Both salaried and self-employed individuals can opt for the home loan.
- The minimum age is fixed at 21 years.
- CIBIL score must be above 700.
What are the documents that you’ll require?
- Duly signed in Application Form
- ID Proof
- Address Proof
- Bank Passbook of the last two years
- Salary Slip of the last three months
- Property Papers
- Copy of NA papers