Collect the requested documents to apply for BoB Home Loan
Before learning how to apply for the BoB Home Loan, check if you are eligible. Various documents related to KYC, personal identity, property related documents, proof of income etc. are required. For more details, see the complete form on the bank’s website. In short, you will need:
✔️Duly filled application form (with photograph of the candidate)
✔️Proof of residence (Aadhar Card, Voter ID Card, Passport, Driving License, Ration Card, etc.)
✔️Proof of age (PAN Card, Aadhar Card, Voter ID Card, Birth Certificate, Passport, Driving License, etc.)
✔️A copy of the approved plan and sanction letter from the local civic authority.
✔️NA permission of one or two guarantors
✔️If the guarantor has a business, copies of income tax returns or assessment orders for the last three years.
✔️Two years bank passbook details
✔️In case of salaried candidates, last salary slip/declaration showing all deductions
✔️In case of self-employed candidates, CA certified copies of Balance Sheet and Profit and Loss Accounts for the last three years, I-Tax Recognition, Advance Tax Challenge (for corporate/company and individual accounts)
✔️In case of self-employed candidates, Articles of Incorporation/Social Agreement for companies, Partnership deed for companies and their company/company.
Rates are applicable BoB Home Loan
Bank of Baroda offers different interest rates depending on the profile of the home loan applicant. For salaried and non-salaried individuals, the interest rate starts from Base Rate Linked Lending Rate (BRLLR) plus 1.35%, subject to the credit score of the applicant. Additionally, non-salaried customers enjoy an additional 0.10% ROI.
Effective interest rates range from 8.40% to 10.60% per annum. Additionally, Top-up Loan is available at BRLLR linked to Linked Home Loan Rate (LHLR) with a strategic premium of 0.25% and 0.60% depending on the prevailing policies and availability date of Top-up Loan. , Based on BRLLR. Keep reading to learn how to apply for the BoB Home Loan.
How to Apply for the BoB Home Loan?
This is the step by step guide on how to apply for the BoB Home Loan.
✔️Visit the official website of Bank of Baroda
✔️Click on the top tab “Loan”.
✔️Select loan type “Home Loan”
✔️ Click “Sign Up Now”
✔️Fill the form with your personal data, attach the documents and wait for the bank’s evaluation. An advisor will help you understand the terms of the contract depending on the property chosen.