Among other types of loans Bank OF BARODA also provide home Loan to its customers. BANK OF BARODA offers home loans at repayment tenure of 25 years maximum. The maximum age of the loanee should not be more than 60 years for salaried persons and 65 years for the self-employed persons at the time of maturity of loan. The loan amount can be up to the 80% of the value of property which you want to buy. The property should be legal approved and should not be disputed. The property for which the loan is being taken will be collateral for the loan itself.
Salaried, self-employed and NRIs are all eligible for the loan according to their income. If your spouse is working you can also make him/her a co-applicant for the loan. With the home loan they also offer an insurance cover for the loan in case of any calamities or accidents. A processing fee of 0.5% of the loan amount with a ceiling of Rs. 5000 for up to Rs. 30 lakhs and 0.4% with a ceiling of Rs. 50, 000 above it. Interest rate of 11.75% of floating type is levied by the bank.
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