5 Crore Home Loan Bank of Baroda

In the dynamic landscape of Indian banking, the Bank of Baroda stands as a prominent institution. Throughout its history, this bank has developed a diverse range of financial products and services, encompassing home loans, personal loans, and more. Applicants who meet the eligibility criteria often benefit from competitive interest rates, flexible terms for repayment, efficient processing of documentation, and rapid disbursement of funds. 

Moreover, Bank of Baroda has embraced digital innovation, enabling applicants to utilise the Urban Money website for a streamlined loan application process. This digital platform allows for quick eligibility checks and application submissions, often completing the process within 10 to 15 minutes. Today, we will learn about BOB highlights, home loan EMI, documents required, eligibility criteria, and more. 

Bank of Baroda 5 crore Home Loan – Highlights

Take a quick look at the highlights of Bank of Baroda’s 5 crore home loan:

Bank of Baroda 5 crore Home Loan EMI for 10 Years

Here is a basic overview of the 5 crore home loan EMI in Bank of Baroda for a 10-year loan tenure:

5 crore Home Loan EMI for 20 Years Bank of Baroda

Following are the estimated 5 crore home loan EMI for 20 years Bank of Baroda:

5 crore Bank of Baroda Home Loan – Fees and Charges

Following are the fees and charges for the Bank of Baroda’s 5 crore home loan: 

5 crore Bank of Baroda Home Loan – Documents Required

Here are the important documents that you will need to submit for Bank of Baroda’s 5 crore home loan: 

• Identity Verification: Applicants are required to provide a valid form of identification. Acceptable documents include a PAN card, Aadhaar card, passport, voter ID, or driving licence.
  
• Address Confirmation: For verification of residential address, borrowers must present any one of the following: Aadhaar card, passport, bank passbook, or utility bills (such as water or electricity bills).
  
• Income Proof: To substantiate income, individuals are required to submit relevant documents based on their employment status. Salaried individuals should provide Form 16, salary slips, and income tax returns, whereas self-employed individuals need to furnish their balance sheet, profit and loss statements, and a business licence or registration certificate.
  
• Property Documentation: For property verification, one of the following should be submitted: No objection certificate, sale deed, allotment letter, or agreement to sell. The specific document required depends on the type and status of the property being purchased. 

5 crore Bank of Baroda Home Loan – Eligibility Criteria

Eligibility Criteria for a 5 Crore Home Loan at Bank of Baroda:

• Nationality: Candidates must be Indian citizens to qualify for the loan.
  
• Age Parameters: The bank stipulates an age range for eligibility, requiring applicants to be at least 21 years old at the time of application, with the maximum age at loan maturity set at 70 years.
  
• Credit Score: A strong credit history is imperative. Applicants should ideally have a CIBIL score of 701 or higher, reflecting their creditworthiness.
  
• Income Consistency: It is essential for applicants to demonstrate a consistent source of income. This may be from salaried employment, professional self-employment, or business ventures.
• Loan-to-Value (LTV) Ratio: The LTV ratio, which is a measure of the loan amount against the value of the property, should be within the bank’s specified range of 75% to 90%. This percentage may vary depending on the type and value of the property in question.