How Bank of Baroda Home Loan Eligibility Calculator Helps

About Bank of Baroda

Bank of Baroda is the third-largest public sector bank in India with a customer base of 131 Million, total business of Rs. 16,260 Crores ($ 218 Billion). The bank is headquartered at Vadodara, Gujarat, and corporate office at Mumbai. It has a workforce of 84,283 employees operating from 9482 branches. This bank offers housing loans for its valued customers.

Bank of Baroda Home Loan: Do you want to know the Bank of Baroda (BoB) home loan? You landed on the right page. BoB can be utilized to purchase house and plot, new home construction, and house remodel. The bank’s home loan interest rate begins from 7.25% p.a., which is one of the most alluring home loan rates in India. The banks’ home loan is featured with a longer loan period, extending as long as 30 years, and low processing fees, in the range of 0.25% – 0.50% of the loan sum. The loan can be benefited by both salaried and independently employed people.

Is Bank of Baroda the Best Choice for Home Loan?

The interest rate offered by the Bank of Baroda is reasonable and there were no loan processing charges which was a significant advantage. The bank offers helpful customer service. The interest rates on loans are good as the BoB is a Government bank. The staff in the bank provides great helpful assistance to avail of the loan amount on time.

Read More –  How to Calculate the EMI of Housing Loan?

Loan Fee Calculator:

Normally, Home Loan EMIs comprise a huge extent of the family’s monthly expenses to pay for a significant period. Being a long tenure loan, the complete interest you pay on a lending loan for a long time can be more than the original loan amount you have obtained from the bank. Bank of Baroda Home Loan Interest rate Calculator online can assist you with figuring the interest rate you are qualified for and the absolute interest you will pay during the loan term. Some of the factors that are utilized for loan interest rate calculation are:

• Borrower’s Occupation: Banks charge a marginally higher interest rate on home credits for independently employed when compared with that on loans for salaried borrowers.
• Loan Amount: Bank of Baroda offers loans up to Rs. 50 Lakh at interest rate of 7.25% and loans of above Rs. 50 Lakh at interest rates between 7.25% to 8.25%.
• Loan Type Selected: The bank likewise offers various rates on its different loan plans, for example, fixed-rate home loan, floating rate home loan and overdraft facility home loan, etc.
• Existing bank customers: The bank may likewise offer lower interest to its current bank account holders to keep up its relationship.

Home Loan Eligibility Calculator:

Today estimating the loan amount with the salary you get, is nearly as simple and quick as the idea of getting a home loan to purchase your dream home. You should simply utilize the home loan eligibility calculator, switch around with the various qualities like your total compensation, previous EMIs you have, other pay, age, city, tenor selection among various components. Presently you may have basic inquiries concerning what is this calculator, how can it work and what is it’s benefits. Let’s have a look at the below paragraph.

Home Loan EMI Calculator:

Purchasing a home can cost you a fortune; in this way, you have home loans. But repaying such a colossal sum requires cautious planning. To do likewise, utilize Home Loan EMI Calculator. The credit mini-computer gives an estimate of regularly scheduled monthly payments to be paid towards loan repayment, helping you to plan your spending ways in a comfortable manner.

What is Bank of Baroda Home Loan?

Bank of Baroda offers loans for home and remodelling the homes with lowest interest rates, with a more extended loan repayment period as long as 30years with a low processing fee. Salaried employees and independently employed people can avail the home loan facility.

Bank of Baroda Home Loan – Features and Benefits

Some of the home loan features and benefits by BOB: 

• Bank of Baroda is offering various types of Home loan schemes
• The housing loan interest linked to repo rate which starts from 6.85%PA
• Loan repayment tenure extending up to 30 years
• BOB offers with zero savings accounts linked to its home loan product.
• Maximum loan amount up to Rs. 10 Crore
• 0.50% is the processing fee.
• Avail of free accident insurance on every home loan offered
• No Prepayment charges on floating rate homes loans.
• Top-up loan facility of up to 5 times during the loan tenure.
• Multiple loan repayment options for customer convenience. 

Bank of Baroda Home Loan Eligibility

Eligibility criteria for individuals to get a home loan 

• Borrower Profile: Indian residents/Non–Resident Indians
• The applicant can add Spouse, Children, Parents as Co-Applicant
• Age Limit: 21 to 70 years
• Income criteria for NRI/OC/PIO: Applicant and co-applicant considered income of minimum gross salary of Rs. 5,00,000/- PA

• HUF (Hindu Undivided Families) are not eligible

How to Avail Bank of Baroda’s Home Loans?

Online: One can apply for a home loan from BOB through online at: 

• URL: https://www.bankofbaroda.in/apply-for-home-loan.htm?1
• Click, to begin with, an application for the Home Loan process.
• Fill all the fields with the necessary information by accepting Terms and conditions.
• Compare with all options of home loan and apply which suits for you
• Once your application filling completes press ok for processing of your loan application.
• A message will appear with a reference number to track the status of your application.  

Offline: You can visit nearest BOB branch and fill the application as follows: 

Follow the procedure for the home loan application.

Step 1: Fill the prescribed application form.

Step 2: Verification of documents by the bank officials.

Step 3: Background checking by the bank officials.

Step 4: Processing free payment.

Step 5: Recommending for The loan approval process by bank staff.

Step 6: Processing the property documents.

Step 7: Loan disbursal.

How to get Home Loan Account Statement from Bank of Baroda?

You can get E-statement for your home loan by the following process.

• Log in to: www.bankof baroda-fiji.com>e –statement
• Select Accounts -> Operative Accounts -> Account Query.
• Select the required period duration and then click on Statement.
• Now you see this window, and select PDF from the drop-down box and click on ‘Save’.

Interest Rates of Bank of Baroda Home Loan – 2021

Some of the factors considered for home loan amount and rate of interest calculation:

Credit score, Type of employment, Gender of the applicant, External benchmark rate, Loan amount, and Type of home loan.

How to do Bank of Baroda Home Loan Tracking?

Your Hosing loan status can be verified through online by providing Proposal acknowledgement ID and Unique Tracking number. You can track home loan status through your mobile number and date of birth.

Further, as the mobile number is a single identifier, many banks use mobile numbers alone as a basis for tracking the application for domestic credit. To check their application status, the customer needs to search for a different number like a reference number. The customer can monitor the loan status from anywhere using this method. As an additional precaution, certain banks may request a date of birth together with the reference number/application number. 

How to get Home Loan Provisional Certificate from Bank of Baroda?

It is the summary of repayment of Principle and interest paid by you towards home Loan for the respective financial year. This certificate is useful for submitting IT returns for claiming IT exemptions. And it also considers for Proof of Housing loan repayment. This certificate will be issuing by the banks made it possible for their customers to access the interest/Provisional certificate online. 

Why Should Calculate BOB Home Loan EMI?

Today, it is just as simple, and more instant, to measure the amounts of loan you will receive for the salary and credit background you have provided. Through calculating the EMI before utilizing the home financing from the Bank of Baroda, you can find the amount you must pay as the EMI per month. Additionally, you can determine the actual loan amount that you can claim and the appropriate rate depending on your budget. 

Bank of Baroda Home Loan Customer Care Number

You can check the status of Housing loan by calling 24×7 toll free numbers:

Ph: 1800 22 33 44/1800 258 44 55/1800 102 44 55 

Conclusion

If you dream of a home purchase, choose a home loan from the Bank of Baroda. In this research, the market size of the Indian domestic credit market was measured by a basic approach.

RBI has reduced the minimum holding period for which the asset must be kept in the book before securitization is eligible. This change has enabled further assets valued at a value of Rs. 40,000 Crore to be sold. Liquidity is abundant. Banks, mutual funds, and insurance undertakings are keen to lend to stronger HFCs. The less powerful HFCs face liquidity problems. In terms of liability, the small, mid-size HFCs will have to look at co-origination as long as risk aversion continues.

Author: Naveen EThis is E.Naveen Kumar full time Content Writer, SEO, Digital marketing Expert, founder of financesrule.com. Really enjoying playing cricket at free times. Being a Btech Graduation from Computer Science stream Selected full-time blogging as my Profession.