Bank of Baroda Pre-Approved Home Loan

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Bank of Baroda Commercial Property Loan

Have you ever dreamt of owning a home and wanted to avoid the complexities of securing a loan? Look no further! The Bank of Baroda Pre-Approved Home Loan is committed to helping you start your journey towards the dream. Forget the anxieties of traditional loan applications. This solution offers in-principle approval for a loan amount upfront, empowering you to begin your house hunt with confidence.

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Table of Content

1. Bank of Baroda Pre-Approved Home Loan Highlights

2. Baroda Pre-Approved Home Loan Features and Benefits

3. Baroda Pre-Approved Home Loan Interest Rates

4. Baroda Pre-Approved Home Loan Fees and Charges

5. Baroda Pre-Approved Home Loan Eligibility Criteria

6. Baroda Pre-Approved Home Loan Documents Required

7. Baroda Pre-Approved Home Loan EMI Calculator

Written By

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.

Reviewed By

Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

Bank of Baroda Pre-Approved Home Loan – Highlights

Interest Rate	8.40% p.a. to 11.10% p.a.
Maximum Loan Amount	Semi-Urban and Rural Areas: Maximum of Rs.1 crore Metro Regions: Rs.10 crore in metro regions.
Maximum Loan Tenure	Up to 30 years
Processing Fees	Nil

Baroda Pre-Approved Home Loan – Features and Benefits

Below is the table for features and benefits of Bank of Baroda pre-approved home loan:

Features	Benefits
In-principle loan amount approval	Know your borrowing power upfront
Enhanced negotiation leverage	Negotiate a better price with sellers
Streamlined home search process	Focus on finding the perfect home without loan worries
Faster loan processing	Quicker transition from pre-approval to final loan sanction (upon property selection)
Wide range of property options	Applicable for purchase of plots, flats under construction, or ready-to-move-in homes

Baroda Pre-Approved Home Loan Interest Rates

Below is the table representing the interest rate of Bank of Baroda pre-approved home loan:

Interest Rate	8.40% p.a. to 11.10% p.a.

Baroda Pre-Approved Home Loan Fees and Charges

There are associated fees with the Bank of Baroda pre-approved home loan. Here’s a breakdown of the key charges:

Home Loan Category	Fee	Conditions
Takeover leads	NIL, Login Fee Rs.1,500	Refundable on first disbursement
Home Loan to Central/State/PSUs employees	NIL, Login Fee Rs.1,500	Refundable on first disbursement
Home Loan in approved projects	NIL, Out of pocket Rs.3,500 + GST	Per Property
Other Home Loan leads	NIL, Out of pocket Rs.5,000 to Rs.8,500 + GST	Conditions apply
Other Home Loan leads	NIL, Out of pocket Rs.10,000 + GST	Per Property

Preclosure Charges

The Bank of Baroda offers the flexibility to pre-close your loan without penalty charges.

Baroda Pre-Approved Home Loan – Eligibility Criteria

To qualify for the Bank of Baroda pre-approved home loan, you need to meet the following eligibility criteria:

Residency: The loan is available to resident Indians, Non-Resident Indians (NRIs) holding Indian passports, Persons of Indian Origin (PIOs) holding foreign passports, and Overseas Citizens of India (OCIs).
Age: The minimum age for application is 21 years, and the maximum is 70 years at loan maturity.
Income: You must have a stable source of income

Baroda Pre-Approved Home Loan – Documents Required

The documents required for the Bank of Baroda pre-approved home loan application vary depending on your residency status and employment type. Here’s a general outline of the documents you may need to submit:

Proof of Identity: PAN Card, Aadhaar Card, Passport, or Voter ID Card.
Proof of Residence: UID card, Passport, Driver’s License, Voter ID Card, or a Registered Rent Agreement can serve as proof of residence.
Proof of Income
Assets and Liabilities Statement: This document gives the bank an overview of your financial health.

Baroda Pre-Approved Home Loan EMI Calculator

Urban Money offers an EMI calculator on the website for the Bank of Baroda pre-approved home loan. you can estimate your potential EMIs using the Bank of Baroda EMI calculator

Here’s what you’ll need to use an EMI calculator:

Loan Amount: This would be the pre-approved loan amount you receive from the Bank of Baroda.
Interest Rate: While you won’t have a final interest rate at the pre-approval stage, you can research the current BRLLR and typical interest rate variations for Bank of Baroda’s home loans to get a general idea.
Loan Tenure: Choose your desired loan repayment period (in years).