Bank of Baroda Home Loan for Senior Citizens

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Getting a home loan as a senior citizen can be quite challenging. However, if you are retired and want to purchase your own home, there is no need to lose hope. Fortunately, the Bank of Baroda home loan for senior citizens provides home loans specifically designed for pensioners and retired individuals. Recognising the unique needs of this esteemed demographic, Bank of Baroda offers a specialised home loan package with tailored features.

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Table of Content

1. Bank of Baroda Home Loan for Senior Citizen Highlights

2. Bank of Baroda Home Loan for Senior Citizen Fees & Charges

3. Bank of Baroda Home Loan for Senior Citizen Documents Required

4. Bank of Baroda Home Loan for Senior Citizen Eligibility Criteria

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Thejus KS
Thejus KS
A mechanical engineer turned history buff with a sprinkle of financial brilliance. Thejus’s expertise comes with a unique blend of engineering precision, timelines, and the power of numerals. He knows that numbers are the pulse of our globe. Attention to detail and extensive research are the key elements of his writing.
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Piyush Bothra
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Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

Bank of Baroda Home Loan for Senior Citizen – Highlights 

Following are the highlights of the Bank of Baroda home loan for senior citizens. 

Loan Amount Loans up to 90%
ROI 8.40% onwards
Loan Tenure 30 years
Eligibility Salaried/ Self-Employed

Bank of Baroda Home Loan for Senior Citizen – Fees & Charges 

The following is a list of the fees and charges that will apply to senior citizens.

Fees/Charges Amount
Processing Fee Up to 0.50% of loan amount NIL for online applications.
Hidden Charges NIL
Pre-Payment Penalty NIL

Bank of Baroda Home Loan for Senior Citizen – Documents Required 

For the Bank of Baroda’s Home Loan for Senior Citizens, the following documents are typically required:

  • Identity Proof: (PAN card/ Aadhaar card/ Voter ID/ Passport/ or any government-issued ID)
  • Age Proof: (Birth certificate/ PAN card/ Passport) 
  • Address Proof: (Utility bills/ Aadhaar card/ Passport)
  • Income Proof: (Pension slips/ bank statements/ ITR)
  • Property Documents: (Title deeds/ NOC)
  • Other Relevant Documents: (As specified by the bank)

It’s recommended to check with the bank for any additional or specific documentation requirements.

Bank of Baroda Home Loan for Senior Citizen – Eligibility Criteria 

Following are the eligibility criteria for the Bank of Baroda Home Loan for senior citizens.

 

  • Indian Resident
  • Maximum Age: 70 Years
  • Source of Income (Rental Income/ Pension, etc)
  • Credit Score
  • Repayment Capacity
  • Co-applicant/ Guarantor

Frequently Asked Question (FAQs)

What is the age limit for senior citizen home loans in Bank of Baroda?

The maximum age for loan approval is 70 years in the Bank of Baroda.

As a senior citizen, what should I do to get a home loan approved by the Bank of Baroda?

To apply for a home loan from the Bank of Baroda as a senior citizen, make sure you meet their eligibility criteria and gather the necessary documents. Apply through the bank's official channels and wait for their assessment and approval.

How much is the Bank of Baroda home loan interest rate for senior citizens?

Bank of Baroda Home loan interest rate starts from 8.40%.

What is the minimum and maximum Bank of Baroda home loan amount for senior citizens?

Bank of Baroda's home loan for senior citizens does not have standardised minimum and maximum loan amounts, as they can vary depending on factors such as income, repayment capacity, and property value.

What is the repayment term for the Bank of Baroda home loan for senior citizens?

The repayment term for the Bank of Baroda home loan for senior citizens is up to a maximum of 30 years.

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