Bank of Baroda Home Loan For Corporates

Looking to attract and retain top talent? Providing employee benefits like homeownership assistance can be a game-changer. Baroda's Home Loan to Corporates scheme enables companies to support their employees, directors, promoters, or partners in achieving their dream of owning a home. This program offers attractive features, competitive rates, and flexible options, making it a valuable tool for businesses.

Bank of Baroda Home Loan to Corporates – Highlights

Mentioned below are the highlights of the Baroda Home Loan to Corporates:

Bank of Baroda Home Loan to Corporates – Features and Benefits

Here is the table analysing the features and Benefits of the Baroda Home Loan to Corporates:

Bank of Baroda Home Loan to Corporates Interest Rates

The Rates of Interest for the Baroda Home Loan to Corporates are given below:

Bank of Baroda Home Loan to Corporates Fees and Charges

There are a few associated fees and charges with the Baroda Home Loan to Corporates program:

Bank of Baroda Home Loan to Corporates – Eligibility Criteria

To be eligible for the Baroda Home Loan to Corporates scheme, companies must meet the following criteria:

• Company Type: The program is open to Public Limited Companies, Private Limited Companies, Partnership Firms, and Limited Liability Partnerships (LLPs).
• Company Age & Activity: The company must have been incorporated for at least 5 years and registered in India. It should also have been actively engaged in business activities for the last 2 years.
• Banking Relationship: The company should be an existing borrower of Bank of Baroda for a minimum of 6 months or a debit fee company with the bank.
• Creditworthiness: The company must have a satisfactory Credit Information Bureau (CIBIL) score.

Bank of Baroda Home Loan to Corporates – Documents Required

Companies must submit comprehensive documents to apply for the Baroda Home Loan to Corporates scheme. These documents verify the company’s eligibility and the details of the financed property. Here’s a list of the essential documents required:

Company Documents:

• Certificate of Incorporation
• Memorandum of Association (MOA) and Articles of Association (AOA) for Private Limited Companies/LLPs
• Partnership Deed (for Partnership Firms)
• Latest Audited Financial Statements for the past 3 years
• Income Tax Returns for the past 3 years
• Proof of Address of the Company (registered office)
• KYC documents of Directors/Partners/Promoters (Passport/PAN Card/Voter ID)

Property Documents:

• Sale Deed/Agreement to Sale for resale properties
• Approved Building Plans (for construction of a new residence)
• No Objection Certificate (NOC) from society/authority (if applicable)
• Property tax receipts for the past year

Loan Related Documents:

• Board Resolution approving the application for the loan
• Loan application form duly filled and signed by authorised officials

Other Documents:

• Declaration from the company regarding the total borrowings (to be submitted annually)
• Undertaking from the company that the property will not be used for rental purposes (penalty interest applicable if violated)

It is important to ensure that all documents are accurate, complete, and properly attested. The bank may request additional documents based on specific circumstances.

Bank of Baroda Home Loan to Corporates EMI Calculator

Here is how you can check the EMI through the EMI calculator given on Bank of Baroda’s website

Check the Bank of Baroda’s Website:

Bank of Baroda now offers an EMI calculator for the Baroda Home Loan to Corporates program.  Visit their official website and navigate to the loan scheme’s page. Look for sections titled “EMI Calculator,” “Loan Calculators,” or similar terms.

Input Required Details: Once you find the EMI calculator, you’ll likely need to enter the following information:

• Loan Amount: This is the amount you intend to borrow under the Baroda Home Loan to Corporates program.
• Interest Rate: While the calculator might offer a pre-filled rate, remember that the actual interest rate for this program depends on Bank of Baroda’s Base Rate (BRLLR), Spread Premium (SP), and your company’s creditworthiness. For now, you can use an estimated rate within the range mentioned earlier (8.40% to 12.10%).
• Loan Tenure: Enter the desired loan repayment period. The maximum repayment period for fresh loans under this program is 15 years, including any moratorium period offered by the bank.
• Calculate EMI:  Once you’ve entered all the details, click the “Calculate” or “Estimate” button. The calculator will provide you with an approximate EMI figure for your loan.