Bank of Baroda Home Loan No Charges – Your Dream Home, Our Doorstep Service
At No Charges(Licensed partner with Bank of Baroda), we understand that owning a home is a significant milestone in your life. That’s why we offer services for a range of home loan options designed to help you fulfill your dreams of buying or constructing a house. With competitive interest rates, flexible repayment options, and a hassle-free application process, Bank of Baroda is your trusted partner in the journey to homeownership.
Types of Bank of Baroda Home Loans:
- Home Loan for Purchase: This loan is designed for individuals looking to buy a new or resale property. Whether it’s an apartment, villa, or independent house, Bank of Baroda provides financing to help you acquire your dream home.
- Home Construction Loan: If you plan to construct your own home on a plot of land you own, Bank of Baroda offers construction loans to cover the expenses associated with building your house. This loan ensures that you have the necessary funds at every stage of construction.
- Home Improvement Loan: If you wish to renovate or upgrade your existing home, Bank of Baroda provides home improvement loans, utilization for various purposes, such as repairing, painting, or remodeling your house, enhancing its aesthetics and functionality.
- Home Loan Balance Transfer: Bank of Baroda also offers home loan balance transfer facility, allowing you to transfer your existing home loan from another bank to Bank of Baroda. This option enables you to benefit from better interest rates, reduced EMIs (Equated Monthly Installments), or improved customer service.
Key Features and Benefits:
- Competitive Interest Rates: Bank of Baroda offers competitive interest rates on home loans, ensuring affordable EMIs and minimizing the cost of borrowing. The interest rates may vary based on the loan amount, tenure, and prevailing market conditions.
- Flexible Loan Amount: Bank of Baroda provides a wide range of loan amounts to suit your specific requirements. Whether you need a small loan or substantial financing, you can choose the loan amount that aligns with your budget and repayment capacity.
- Flexible Repayment Options: Bank of Baroda understands that everyone’s financial situation is different. Therefore, they offer flexible repayment options, including long tenures, allowing you to select a repayment plan that suits your financial capabilities.
- Tax Benefits: Home loans from Bank of Baroda may offer tax benefits under the Income Tax Act. You may be eligible for deductions on both the principal repayment and the interest paid, helping you save on taxes. However, it is advisable to consult with a tax professional for accurate information.
- Quick Loan Processing: Bank of Baroda strives to provide a streamlined and efficient loan processing experience. They aim to process loan applications promptly, ensuring minimal delays and a faster turnaround time.
- Transparent and Affordable Fees: Bank of Baroda maintains transparency in their fee structure. They provide a clear breakdown of charges, including processing fees, administrative fees, and legal charges, enabling you to plan your finances effectively.
Eligibility Criteria and Documentation:
The eligibility criteria and documentation requirements for a Bank of Baroda home loan may vary depending on factors such as income, employment type, credit history, and the specific loan product. Generally, the following documents are required:
- Application form with photographs
- Proof of identity (PAN card, Aadhaar card, passport, etc.)
- Proof of address (utility bills, ration card, voter ID, etc.)
- Proof of income (salary slips, bank statements, income tax returns, etc.)
- Property documents (sale deed, title documents, approved building plan, etc.)
- Other documents as specified by the bank
It is recommended to visit the Bank of Baroda website or contact their customer support for the most accurate and up-to-date information regarding eligibility criteria and documentation requirements.
No Charges will waive off all your processing cost*, guide you through the loan process, answer your queries, and provide personalized assistance based on your needs.
No Charges is committed to helping you realize your dream of owning a home. With the range of home loan options, competitive interest rates, and customer-centric approach, No Charges and Bank of Baroda strive to make your homeownership journey smoother and more rewarding.
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What is Bank of Baroda Advantage Home Loan?Its is a maximum gain saving account linked home loan. Your loan account will be linked to savings account and the amount saved will get you equivalent interest rebate
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What is maximum tenure for Bank of Baroda Home Loan?30 Years is the maximum tenure available subject to age of the customers
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How is the rate of interest calculated and what is current interest rate?The loans are Repo Rate linked loans. Connect with us on Whatsapp to get current applicable rates
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Documents required for Home Loan?For Salaried Customers :
Aadhar Card, Pan Card, Rental Agreement (optional), HR Letter confirming current employment status, Latest 3 Pay slips, 6 Months Salary Credited Account Statement, Form 16 Part A and Part B for last 2 years.
There may be some additional documents required cases to case basis
For Self-Employed / Business / Professionals :
Aadhar Card, Pan Card, Business Registration Certificate/ Profession Certificate, Tax Returns for Last 3 years (Tax Receipt, Balance sheet, Income Statement, PL Account Statement etc.)
There may be some additional documents required cases to case basis
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How much is the funding percentage for Home Loan?Below 30 Lacs – 90% of Unit Cost
Above 30 Lacs – Below 75 Lacs – 80% of Unit Cost
Above 75 Lacs – 75% of Unit Cost
Incase if you are looking for extra funding please reach out to us at NoCharges.in.
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What components are included in Home Loan?Basic Cost of Unit, Car Parking, Infrastructure Charges, Floor Rise Charges etc
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What components are excluded in Home Loan?There can be multiple components like Maintenance Funds, Corpus Funds, Legal Charges etc.
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Does Home Loan includes GST cost and Registration Cost?GST can be included while Registration is excluded from Home Loan
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What is Suvidha Loan?Its a kind of personal loan but at much cheaper rate (Rate of Interest for Suvidha Loan is slightly higher than home loan rate). It is a additional facility for the customer to get funds for GST , Registration or other parts which are generally not part of home loan
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What is Interior Home Loan?You get some extra funds at home loan rate of interest for your interior work
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Can we add Home Loan and Interior Loan?Yes, it can be merged in to single account
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What are the charges for processing Home Loan?Processing Fees/Upfront Fees + Stamp Paper Charges + Notary (optional) + MODT (0.3%)[Though MODT is not bank charge , it is paid to State Government but still we consider it as part of processing charge as it mandatory ]
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What waivers I get to apply through NoCharges.in?Complete Waiver on Upfront Charges, Stamp Paper Charges and Notary Charges (Case to Case)
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What is the total cost for applying for Home Loan?Actual bank processing fees are 0.5% for Loan Amount up to 50 Lacs and 0.25% for loan amount above 50 Lacs. Currently due to bank offer the processing fees are NIL (Zero) and there is upfront fees of Rs.10,030/- .
Applying you loan through NoCharges.in will help you get complete waiver
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What is the MODT Charges?It is the Stamp Duty to be paid for availing loan facility. The State Government charges 0.3% for MODT
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What are the Stamp Paper Charges and Notary Charges?These are small charges to be paid after sanction , prior to disbursement.
Roughly you will be charged around 2500 rupees inclusive of stamp paper and Notary. Applying your loan through NoCharges.in will help you get a waiver on this charges
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How to Calculate Stamp Duty Amount for Loan ?It depends on state governments. In Maharashtra and Karnataka it is 0.3% of sanctioned amount
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MODT Charges are calculated on what amount?MODT charges (0.3%) of Total Sanctioned Amount .Example If you have a received sanction for 30 lacs rupees then you have to pay 30,00,000×0.3% = 9000 rupees as MODT charges to State Government
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Do Bank of Baroda allows Guidance Value registration?No
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What are the Legal Charges in Bank of Baroda?There is a upfront fees of Rs.8500 + GST = Rs.10,030/- . The upfront fees includes Legal Charges. Applying your loan through NoCharges.in will help you get complete waiver with Zero Upfront Fees
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What are the Valuation Charges in Bank of BarodaThere is a upfront fees of Rs.8500 + GST = Rs.10,030/- . The upfront fees includes Valuation Charges. Applying your loan through NoCharges.in will help you get complete waiver with Zero Upfront Fees
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What are the Hidden Charges in Bank of Baroda?No Hidden Charges
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What kind of properties does Bank of Baroda Funds?All properties with approval of Town Planning Authority
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What kind of Properties do Bank of Baroda does not fund under Home Loan?In Maharashtra , Bank of Baroda do not fund Agricultural Land Loan, Gunthewari Lands or Construction, R Zone Lands and Construction
In Karnataka , Bank of Baroda do not fund Agricultural Land Loan and B Khata or Manual 11/B Khata
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How many days it takes to get Sanction in Bank of Baroda?Bank of Baroda can sanction the loan within days subject to clear documents provided and subject to eligibility
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How many days it takes to get Disbursement of Bank of Baroda?At the best it can be done in 24 hours*
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What are the charges to get disbursement done?There are no specific bank charge, but there is a expense to it for Rs.2500 (Stamp Paper +Notary) and 0.3% of sanctioned amount (MODT Charges for Mortgage)
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Is there any login Fees in Bank of Baroda?Yes , Upfront Fees Rs.10,030/- . To get complete waiver get in touch with us
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What is the Insurance clause for Home Loan?You get concession in Home Loan Rate of Interest if you opt for Insurance Coverage
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What are the different types of Insurance?Property Insurance and Lability Health Insurance
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What type of Insurance is Mandatory?Property Insurance
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What is Liability Health Insurance?It covers your complete repayment incase of injuries/death due to accidents/untoward incident/health issues. Please contact our team for full information
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What is Property Insurance?In Bank of Baroda property insurance is mandatory, generally property insurance insures your property from Man Made Calamities (Example Fire and Ignition) and Natural Calamities like Earthquake or Floods
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What will be my EMIContact Us and get Clear understanding of Eligibility, Interest Rates, Charges, Tenure etc..
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How EMI is CalculatedContact Us and get Clear understanding of Eligibility, Interest Rates, Charges, Tenure etc..
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What is my Eligibility?Contact Us and get Clear understanding of Eligibility, Interest Rates, Charges, Tenure etc..
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How is the rate calculated on Cibil Score?Contact Us and get Clear understanding of Eligibility, Interest Rates, Charges, Tenure etc..
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