Bank of Baroda Home Loan

Bank of Baroda is India's 2nd largest public sector bank after State Bank of India. BOB, or Bank of Baroda, has helped thousands of people fulfill their dream of owning a home through its feature-packed home loan schemes. Bank of Baroda home loan starts at an interest rate of 8.60% per annum at a processing fee starting at 0.50%, subject to a minimum of Rs. 8,500 and a maximum of Rs. 25,000. Anyone who meets the eligibility criteria laid by the bank can avail a Bank of Baroda loan, be it an Indian Resident, NRI, OCI, or a PIO. Baroda Home Loan Advantage, Baroda CRE Loan, and Baroda Pre-Approved Home Loans are some of the popular Bank of Baroda housing loan schemes chosen by borrowers, including salaried and non-salaried individuals.

Bank of Baroda Home Loan EMI Calculator

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Bank of Baroda Home Loans Key Highlights

Get the lowest interest rates with Bank of Baroda

Loan Amount Up to Rs. 20 crores (Mumbai)
Rate of Interest Starts at 8.60% per annum
RPLR 9.15%
Processing Fee

No processing fee; discounted upfront fee

Maximum Tenure for Repayment 30 years
Penal Rate of Interest
Rate Packages Floater/ Fixed
Charges for Prepayment/Foreclosure Nil

Bank of Baroda Home Loan Interest Rates in 2024

Bank of Baroda home loan interest rate may vary depending on the applicant’s CIBIL Score, employment, loan repayment capability, and other similar factors. Besides, a risk premium of 0.05% is charged by applicants who fail to obtain the required credit insurance cover for the home loan. The table below enlists the current Bank of Baroda home loan interest rate in 2024:


Loan Slab Interest Rate for Home Loan
Repo Rate + Spread (For Salaried) BRLLR: 0.55% - BRLLR + 1.35% 
Repo Rate + Spread (For Self-Employed) BRLLR: 0.45% - BRLLR + 1.45% 
Rate of Interest (For Salaried) 8.60% - 10.50% 
Rate of Interest (For Self-Employed) 8.70% - 10.60% 

Interest rates were last updated on 6th May 2024

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Bank of Baroda Home Loan Eligibility Criteria

BOB offers home loans to salaried as well as self-employed or non-salaried applicants living in India, NRIs, OCIs, and PIOs. However, every applicant needs to fulfill the pre-defined Bank of Baroda home loan eligibility criteria to get a home loan approved by the bank. The table below enlists the complete BOB home loan eligibility criteria for your reference:

Eligibility Parameters For Salaried Individuals For Self-Employed Individuals
Age Range (in years) 21 - Retirement 21 - 65 Years
Nationality Indian Resident/ NRIs/ PIOs/OCIs Indian Resident/ NRIs/ PIOs/OCIs
Minimum Income Earned Nothing Specific Nothing Specific

Bank of Baroda Home Loan Processing Fee and Charges

Bank of Baroda home loan processing fee is unified, including charges for processing the documents, document verification, CERSAI, one-time post-inspection charges, etc. Also, note that there are no BOB home loan processing fees for loans below Rs. 5 lakhs.

Charges of Cheque Bounce

Rs. 350 per instance

Fixed to Floater Swapping Charges

0.50% per annum for the residual period of the loan (Maximum 2%) + Service Tax on the amount outstanding on the date of conversion.

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Bank of Baroda Home Loan Schemes and Top Plans

Bank of Baroda offers various home loan schemes for different types of applicants at lucrative interest rates. The list below highlights the top Bank of Baroda home loan schemes:

1. Baroda Home Loan

  • Exclusive features and benefits for borrowers who want to buy, build, or extend a home
  • Comes with a free accident cover
  • Maximum loan repayment tenure of up to 30 years

2. Baroda Home Loan Advantage

  • The loan sanctioned is linked to the savings bank account of the applicant
  • Auto-recovered EMIs from the loan-linked savings bank account
  • Option to avail interest benefits by depositing savings to the savings bank account
  • Interest is calculated as per the daily outstanding credit balance reflected in the savings bank account

3. Baroda Pre-Approved Home Loan

  • Loan approval is valid for up to 4 months from the date of issue
  • More scope for negotiations with builders or sellers
  • Borrowers can get an assured loan amount as per the eligibility
  • Approval of in-principle loan before identifying the property

4. Baroda Home Improvement Loan

  • Comes with lucrative interest rates that are linked to 1-year MCLR
  • Comes with a group credit life insurance cover for the applicant and family
  • The maximum loan amount in semi-urban or rural areas is Rs. 1 crore, in metro cities, it is Rs. 5 crore, and in Mumbai is Rs. 10 crore
  • Maximum moratorium period of up to 36 months

5. Baroda Home Loan Takeover Scheme

  • The maximum loan amount for borrowers living in Mumbai is up to Rs. 20 crores
  • No charges on prepayment or foreclosure
  • Easy top-up facility available
  • Low processing fees and low-interest rates
  • Interest is charged on the daily reducing balance

6. Baroda Home Loan for NRIs and PIOs

  • Best home loan scheme for NRIs and PIOs looking to purchase a home in India
  • Attractive rates of interest
  • The benefit of free accidental insurance
  • Loan repayment tenure extension of up to 30 years

7. Baroda Credit Risk Guarantee (CRE)

  • Ideal home loans for NRIs and PIOs who want to purchase a third house
  • The interest rate of 0.25% is higher than a Baroda home loan for NRIs and PIOs
  • No charges for prepayment or foreclosure

8. Baroda Top-Up Home Loan

  • Ideal home loan scheme for resident Indians, NRO, and PIOs
  • Loan amount starts at Rs. 1 lakh up to Rs. 2 crores
  • The loan repayment tenure is the leftover period of the existing house loan
  • Nominal unified processing fee charges

9. Interest Subsidy Scheme for Housing Urban Poor (ISHUP)

  • Ideal for LIG or EWS borrowers who want to buy a home
  • A minimum monthly income of up to Rs. 10,000 is the primary eligibility to get a home loan for LIG
  • A minimum monthly income of up to Rs. 5,000 is the primary eligibility to get a home loan for EWS

10. Baroda Pradhan Mantri Awas Yojana (PMAY) Scheme

  • Home loans with credit or interest subsidies
  • Offers interest subsidy by taking into account the annual income category of the borrower’s family
  • Most affordable housing finance scheme for weaker sections provided by the Bank of Baroda under the PMAY scheme

Note: All of the above home loan plans are made available to applicants solely at the discretion of Bank of Baroda, taking into consideration the earning and repayment capacity of the applicant.

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Documents Required for Bank of Baroda Home Loan

BOB needs a set of documents to verify your credibility for a home loan. These include general KYC documents, including proof of address, identity, age, and income. A complete Bank of Baroda home loan documents required list is mentioned below for your convenience:

Documents Required for Salaried Applicants

Proof of Income
  • Latest Salary Slip for the  last 3 - 6 months
  • Account Statements to verify salary credits
  • Investment proofs (if any)
  • Income Tax Returns for the last 3 years
  • Form 16 
  • A letter from the employer stating your status and duration of employment 
Other Required Documents
  • Duly filled and signed application form
  • 2 Passport-size photographs
  • Processing Fee Cheque in Favor of BOB

Documents Required for Self-Employed Applicants

Proof of Income
  • Proof of business address
  • Licence of Business or Licence to Practice
  • Copy of Registration of Business Establishment like Office, Clinic, Shop
  • Complete Balance Sheet along with Profit and Loss Statement attested by a CA
  • ITR for the last 3 years
Other Required Documents
  • Duly filled and signed application form
  • 2 Passport-size photographs
  • Processing Fee Cheque in Favor of BOB

Common Documents Required from Both Salaried and Self-Employed Applicants

Type of Document Documents Required
Identity & Address Proof

Voter ID, Driving License, Aadhaar Card, Copy of Passport, PAN Card

Documents Related to Property
  • Sale Deed, Allotment Letter
  • Certificate of Occupancy
  • Payment receipts for payments made to the builder
  • Permission to construct
  • Copy of approved plan
  • Registered Development Agreement of the builder
  • NOC (No Object Certificate from the builder or the housing society
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How to Apply for Bank of Baroda Home Loan?

The Bank of Baroda home loan application online procedure is short and simple. All you need to do is follow the below-mentioned steps to apply for a BOB home loan online:

  • Proceed to the APPLY NOW section on the website - BASIC Home Loan         
  • Fill in the form by entering your Name, Contact Details and Submit the form
  • The team from BASIC Home Loan will reach out to you to initiate a hassle-free Home Loan application process

Find Bank of Baroda Home Loan Offices Near You

If you are planning to visit one of the offices of Bank of Baroda Home Loan near you to understand the Bank of Baroda Home Loan Offer in details and apply for the Home Loan, you can simply fill in the Free Consultation form and the team of BASIC Home Loan will reach out to you for needful assistance in the process.


Interest rates and fees on home loans vary based on eligibility and lender criteria. All applicable fees and charges are subject to relevant taxes and can change at the lender’s discretion. For the most current information on home loan interest rates, processing fees, other applicable charges, and updates on eligibility criteria and loan offers, please visit the official website of the bank.


Bank of Baroda has dropped its interest rate on home loans in the last few years. BOB currently offers home loan schemes starting at 8.60% per annum. However, please refer to the official bank website to check the current ROI on BOB home loans.

To get a Bank of Baroda home loan, an applicant must fulfill the following eligibility criteria:

  • Age: 21 years - 65 years (Self-Employed); 21 years - Retirement (Salaried)
  • Co-Applicant Age - Minimum 18 years
  • CIBIL Score: 700 or Above
  • Nationality: Indian Resident/ NRI/ PIO/ OCI

The maximum loan repayment tenure for a Bank of Baroda housing loan is up to 30 years for specific schemes. 

Yes, you can get a loan to value property (LTV) of up to 90% of the property value only for purchasing a newly constructed property from BOB after meeting the eligibility criteria. 

Bank of Baroda doesn’t charge any fee for prepayment of foreclosure of housing loans.

A borrower can reduce home interest rates in the Bank of Baroda by maintaining a decent CIBIL score of 700 and above. Besides, extending the loan tenure period helps reduce the interest rate on a BOB home loan.

A borrower can enjoy the following benefits by opting for a Bank of Baroda home loan:

  • Low ROI
  • Unified and nominal processing fee
  • Easy EMIs
  • Home loan for Indian Residents/ NRI/ PIO/ OCI
  • Easy linking up of loan repayment amount with savings bank account
  • Easy E-Approvals
  • No Guarantor required

The maximum limit of the loan amount from Bank of Baroda is up to Rs. 20 crores in Mumbai, up to 7.50 crores in New Delhi, Bengaluru, Hyderabad, up to 5 crores in other metropolitan cities, up to 3 crores in urban areas, and up to 1 crore in a rural or semi-urban area.

To become a co-applicant for a BOB home loan, an individual must be at least 18 years of age. Anyone related to the applicant can be a co-applicant for a Bank of Baroda home loan, such as the mother, father, spouse, sibling, son, daughter, son's wife, daughter's husband, step-mother, step-father, step-child, step-sibling, and so on.

Bank of Baroda considers various crucial factors while determining the loan amount sanctioned for its applicants. Some of such elements are:

  • Age
  • Nationality
  • Loan Repayment Capacity
  • CIBIL Score
  • Income
  • Liability