Yes, a home loan can be pre-closed. Pre-closing a home loan refers to repaying the outstanding loan amount before the original loan tenure comes to an end. By pre-closing the loan, the borrower can save on interest payments and become debt-free sooner.
However, it’s important to note that pre-closing a home loan may involve certain terms and conditions, such as prepayment penalties or charges imposed by the lender. These charges are typically a percentage of the outstanding loan amount and are levied to compensate the lender for the interest they would have earned if the loan had continued for the entire tenure.
Before pre-closing a home loan, it is advisable to contact your lender and inquire about any prepayment charges or penalties. It’s also important to evaluate your financial situation and consider the potential benefits and costs of pre-closing the loan to make an informed decision.
WELCOME TO NO CHARGES WITH BANK OF BARODA
“No Charges” can assess your specific needs, financial capabilities, and long-term goals to provide personalized solutions.
“No Charges” have established relationships with Bank of Baroda, which gives us negotiating power. We can advocate on your behalf, negotiate for competitive interest rates, lower fees, or favorable terms which are within Bank Guidelines. Our experience and industry connections will work in your favor to secure the best possible loan terms.
(Contact : +91 9591593068 | +91 8956712988; Email : [email protected])
| GENERAL DOCUMENTS FOR HOME LOAN | |
| Identity Proof | Pan Card |
| Residence Proof | Aadhaar card/Rent agreement/Utility Bills/Bank Account Statements |
| Income Proof (Salaried Individuals) | Salary slips for the last 3 months, Form 16 or Income Tax Returns (ITR) for the last 2 years, Bank statements for the last 6 months |
| Income Proof (Self-employed Individuals) | Business continuity proof (Certificate of Incorporation, Partnership deed, etc.), Income Tax Returns (ITR) for the last 2-3 years, along with computation of income, Profit and loss statements, balance sheets, and audit reports for the business, Bank statements for the last 6-12 months |
| Employment Proof | HR Letter |
| Property Documents (If project is approved , only Sale Agreement required) | Sale agreement or purchase agreement ,Allotment letter from the builder/developer, Title deeds, conveyance deed, or lease deed, Property tax receipts,NOC (No Objection Certificate) from relevant authorities |
| Passport-size photographs | 1 each |
| Any issues with documents call us at +91 9591593068, doorstep solutions no charges | |
| BEST HOME LOAN IN INDIA – BANK OF BARODA | |
| Competitive Interest Rates | Bank of Baroda provides home loans at competitive interest rates, ensuring that you can borrow at an affordable cost |
| Flexible Loan Amount | BoB offers a wide range of loan amounts, making it suitable for various housing requirements. You can apply for a loan that aligns with your budget and needs. |
| Flexible Repayment Options | The bank provides flexible repayment options, allowing you to choose a loan tenure that suits your financial situation. You can opt for a longer tenure to reduce your monthly EMI or choose a shorter tenure to repay the loan quickly. |
| Loan Balance Transfer Facility | If you have an existing home loan with another bank, Bank of Baroda offers a balance transfer facility. This enables you to transfer your outstanding loan amount to BoB at a lower interest rate and enjoy potential cost savings |
| Pradhan Mantri Awas Yojana (PMAY) | Bank of Baroda is an authorized lender under the government’s Pradhan Mantri Awas Yojana scheme. If you are eligible, you can avail the benefits provided by this scheme, such as subsidized interest rates or credit-linked subsidies. |
| Easy Documentation | Bank of Baroda strives to simplify the loan application process by requiring minimal documentation. This ensures a hassle-free experience for borrowers |
| Transparent Process | The bank maintains transparency in its loan operations, providing you with all the necessary information, terms, and conditions. This helps you make informed decisions and understand the loan terms thoroughly.The bank maintains transparency in its loan operations, providing you with all the necessary information, terms, and conditions. This helps you make informed decisions and understand the loan terms thoroughly. |
| Quick Loan Processing | BoB aims to process home loan applications efficiently and promptly. With streamlined procedures and a dedicated customer service team, the bank strives to provide a quick turnaround time. |
| Doorstep Service | Bank of Baroda offers doorstep service, where representatives visit your location to collect the required documents and assist you throughout the loan application process. This adds convenience and saves your time and effort |
| Reputed and Reliable Institution | Bank of Baroda is one of the largest and most trusted banks in India. With its long-standing presence and a wide network of branches, the bank provides stability and credibility to borrowers |
| Any issues with documents call us at +91 9591593068, doorstep solutions no charges | |
| NO CHARGES BENEFITS | |
| Documentation | Doorstep Documentation |
| Bank Processing Fees | 100% Waiver |
| Bank Upfront Charges | 100% Waiver |
| Loan Calculation + Analysis | Detailed Reports |
| Builder Documentation | End to End Support |
| MODT Process | Online Assistance |
| Saving Account Opening | Doorstep |
| Stamp Paper Charges | 100% Waiver |
| Hidden Fees | Nil |
| Platform Fees | Nil |
| Any charges from our end | Nil |
| Any issues with documents call us at +91 9591593068, doorstep solutions no charges | |