Log in

Benefits of availing of Home Loan

imageHome loans are a long-term investment in which a large sum of money is placed in the hands of an individual with the assurance that he or she can repay the loan with interest. This is why banks such as Bank of Baroda Home Loan have stringent eligibility requirements to ensure that funds are provided to the correct person and that the person does not feel obligated to pay their loan EMI and has enough money to cover their everyday expenses. Until loan applications are accepted, banks specify certain factors or requirements that must be met. In addition, if your credit score is too poor, your loan application may be turned down.


  • A loan is available for the renovation and restoration of an existing home, including painting, plumbing, and roof re-laying, and plenty of other things.

  • Amount of loan is up to 80% of the cost of repair work.

  • Five years is the minimum tenure. 

  • Attractive rates begin at 8.75 percent per annum.

  • Flexible tenure of up to 15 years is available.

  • There is a minimal amount of paperwork needed, and there is an insurance facility available.

Interest Rates

  • The minimum interest rate is 9.25%.

  • The maximum interest rate is 11.75%.

  • The final interest rate is determined as per the Individual Credit Score. 

  • A processing fee of 1% of the loan amount or a minimum of Rs.5,000, whichever is applicable, including taxes, is levied.

Documents Required -

  1. For salaried employees -
  • Proof of your identity.

  • Proof of a residential address.

  • Salary slips from the previous three months.

  • Bank accounts from the last six months.

  • Repayment information for existing loans.

  • Documents about real estate.

       2. For self-employed individuals -

  • Proof of your identity.

  • Proof of a residential address.

  • Bank accounts from the previous six months.

  • Information about the business.

  • Repayment information for existing loans.

Eligibility -

Before applying for a Bandhan Bank home loan, it is good to check the Home Loan Eligibility criteria on Bank of Baroda home Loan official website. Your credit score is not impacted as the bank will just perform a soft pull and compare it to other internal requirements to ensure you are eligible.

  • The minimum age of the borrower must be 21 years old and above.

  • The maximum age of the borrower must be 65 years at maturity or retirement age, whichever comes first.

Your monthly disposable or surplus earnings will be taken into account.


The interest rate on a Bank of Baroda home Loan is one of the most reasonable rates in the industry, hence so many people choose it. Throughout the term of the loan, the property must be insured against perils or unexpected incidents. Until giving you the final funding sum, the bank will consider your monthly revenue, credit score, and history, as well as the specifics of any current loans. You won't have to pay anything if you make partial payments or the loan is foreclosed. You can negotiate a better loan sum with the bank if you have a decent credit score, a good wage, and work in a good company with no or very little debt. You can also co-borrow the loan, which would result in a higher loan sum due to the joint wage.