Bank of Baroda Home Loan - Eligibility & Documentation

Eligible

  • Minimum age: 21 years
  • Maximum age: Salaried individuals should have at least 1 year of service pending
  • Maximum repayment period: 30 years

Minimum salary details have not been specified by the bank, but details can be obtained from any branch office of the bank. Loan eligibility is as follows:


Monthly Income

Loan availability

Up to Rs. 20,000

Monthly income X 36

More than Rs. 20,000 and up to Rs. 1 lakh

Monthly income X 48

More than Rs. 1 lakh

Monthly income X 54

The ratio of loan to value (LTV) – which is the amount of loan you can avail in proportion to the value of the property – is as mentioned below:


Loan amount

LTV

Up to Rs. 30 lakh

90%

More than Rs. 30 lakh and up to Rs. 75 lakh

80%

More than Rs. 75 lakh

75%

Bank of Baroda Home Loan Documentation:
Those wishing to obtain a home loan from Bank of Baroda need to have the following documents at hand:

  • Passport size photographs
  • Proof of identity, residence and age
  • Proof of office/business address
  • Bank statements of the last 6 months
  • Copy of Income Tax Returns of the last 3 years
  • Proof of investments such as insurance, fixed deposits or shares and stocks
  • Payslips of the last 3 months for salaried persons
  • For business owners/self-employed persons: Verified copies of Balance Sheets, Profit and Loss accounts, IT Return, assessment orders, advance tax challans (for both company/firm and personal account) for the last 3 years
  • Copy of documents related to the property to be purchased

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