Can I avail of Home Loan from Bank of Baroda?
Who can be co-applicant?
The proposed owners of the residential accommodation as per the Agreement for sale, in respect of which financial assistance is sought, must be co-applicants. Usually joint applications are from husband-wife, father-son or mother-son etc.
How much does Bank of Baroda lend?
For how long a period can I get the loan ?
We grant term upto a maximum of 25 years. The term for the loan will under no circumstances exceed the age of retirement or completion of 65 years of age, whichever is earlier.
But can I prepay the loan ahead of schedule?
Yes, you have the option to prepay the loan ahead of schedule either in part or in full from your own sources.
What is the mode of repayment?
Equated Monthly Instalment (EMI): It means a uniform lumpsum amount, which includes repayment of a part of the principal amount and payment of interest, calculated on daily products basis.
Fixing the monthly / quarterly instalments on graduated basis is permitted of EMI as requested by customers.
What is the security for the loan?
The security for the loan is equitable mortgage of the property to be financed.You will also be required to furnish guarantee by one/two individual/s of sound financial standing acceptable to us.
Do you insist on LIC policy as additional collateral security?
No, it is not mandatory.
What are the supporting documents required while applying for the loan ?
Common requirements for all applicants.
In case of purchase from builder
In case of direct allotment in a Co-operative Housing Society
In case of resale
Home Extension Loan is useful when you want to add more space to your existing home. We make it easy for you to extend your existing residential property as per your requirements. You often renovate your home to suit your changing needs. This loan can be used to carry out repairs / improvements within your existing owned residential properties.
Personal loans are taken primarily for fulfilling your personal aspirations such as vacation, a perfect wedding, home renovation or a much desired gadget. In addition to being relatively easy to apply for, personal loans are unsecured loans which means that you don't need any collateral to take this loan. They are one of the simplest form of loans with customer-friendly repayment terms.
A sudden requirement of funds is an unavoidable circumstance of business or personal life. Whether a personal necessity (hospitalization, child's marriage) or a professional one (expanding business operations on a priority basis), every person requires immediate financial backing at key moments.
In this context, it is pertinent to consider an invaluable alternative source of finance known as Loan Against Property (LAP). This is a loan borrowed by placing one's owned property as collateral. The funding may be given by financial institutions after scrutinizing the validity of the said property and its current market value.
Running a business is not easy. You have to constantly think of ways and means to keep it going and growing. As a part of the growth plan, you require financing for expanding operations or to buy new equipment or inventory or simply increase the working capital. To help you with your financing needs we offer Business Loans that will help your business grow.
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