Building your dream is now easier.
Explore Bank of Baroda’s home loans.
Home Loans
Baroda home Loans offer you the flexibility for acquiring ready to occupy house/flat from developers or by choosing re-sale properties and takeover of from other banks.
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Key Features
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Eligibility
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Charges
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Warning Box
Home Loans : Key Features
- Home Loan products to suit every customer’s need
- Low Interest Rates
- Low Processing Fee
- No Hidden Charges
- 3rd year onwards interest rate is linked to Emirates Interbank Offered Rate (EIBOR) of the bank and is reset quarterly.
- Interest charges on Daily Reducing Balance
- Longer tenor up to 25 years
- Moratorium period up to 12 months after the loan amount is disbursed.
- Easy Top Up facility available
Home Loans : Eligibility
- UAE Nationals / Expats / PIO / OCI residing in UAE for last 02 years
- For constructing, purchasing or renovating a house for owner occupier or investment purpose
- Age
- Minimum - 21 Years and Maximum
- For Salaried class - 65 years
- Non salaried – 70 years at loan maturity
- Limit - Min. – AED 200000 Max -AED 60000000
Home Loans : Charges
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Interest Rate and Charges |
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Interest Rates
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For Self-Employed and Salaried customers (without salary account with our bank) Fixed plus Variable First 2 Years – 4.90% p.a. fixed( reducing balance) 3rd Year onwards – 2.00% over 3 months EIBOR with minimum of 4.50% Variable from Day one 2.00% plus 03 Months EIBOR with minimum of 3.50% p.a. For Salaried Individuals (Salary account with us/salary account transfer):- Fixed plus Variable First 2 Years – 4.75% p.a. fixed( reducing balance)* 3rd Year onwards –2.00% over 3 months EIBOR with minimum of 4.50% *Note: The above rates will be applicable subject to:- 1. The salaried account must be maintained/transferred with our bank. 2. The rate is applicable only after crediting two months’ salary into the account with our bank. Variable from Day one 2.00% plus 03 Months EIBOR with minimum of 3.50% p.a. |
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Processing Fees |
New– 1.00% of loan amount with a ceiling of AED 25,000/- plus applicable VAT Takeover - 0.25% of the loan amount with a ceiling of AED 10,000/- plus applicable VAT |
Home Loans : Warning Box
Debt Management Tool/Guidelines as per Compliance of Consumer Protection Standards of CBUAE
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What is a home loan?
A home loan is a financial product that enables individuals to acquire funds for purchasing or constructing a house. Over time, the loan is repaid with interest, and the property serves as collateral for the loan
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What is the eligibility criteria for a home loan?
Eligibility requirements for a house loan include
- Regular source of income
- UAE residency
- Strong credit history
- Minimum age of 21
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What are the documents required for a home loan application?
Documents required for a house loan application
- Identity and address proof
- Evidence of income
- Property documentation (sale agreement, property title deed)
- Bank statements for the previous six months
- Additional documents may be required based on the loan scheme and applicant's profile
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Who can apply for a Home Loan?UAE Nationals, Indian Expatriate, PIO, OCI
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What is the minimum and maximum age required to apply for a Home Loan?
For salaried- Min. Age- 21 years Max. Age- 65 years
For others – Min. Age 21 years Max. Age- 70 years
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What is the maximum amount I can borrow under Home Loan?
You can borrow max. Up to 30 Million, for a residential property
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What is the Maximum Period up to which I can avail Home Loan?
You can avail home loan up to a max. Period of 20 years
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Do you offer early settlement of Home Loan?
Yes you can repay your home loan before maturity of loan
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What is the charge for early settlement?
We charge 1.00% + VAT of the outstanding Home Loan amount up to a max. of AED 10,000 as an early settlement fee.
