Bank of Baroda Bank Home Loan

I want to take home loans from Bank of Baroda so want to know that what benefits provided by Bank of Baroda for its Home loan holder customer?

[Shaleen]

According to BOB they offer following benefits for home loan customer:

Free Property and Personal Accident Insurance.

Interest subvention @ 1% on housing loans upto limit of Rs 15.00 lac where cost of house does not exceed Rs 25.00 lac is available.

Free Credit Card - "Paras" card (Complimentary for first year) to home loan borrowers with loan limit of Rs. 2/- Lakhs and above

Advance up to 90% of the principal amount of home loan repaid for any requirement ('AAA').

As per current IT provisions - Interest on loan upto Rs. 1.5 Lakhs per annum is exempt from income tax (Under section 23/24(I) of the Income Tax Act).

Hello sir I want to know benefits of taking home loan from bank of Baroda so here can you please give ,me details ?

[pawan]

Hey as Bank of Baroda (BOB) is an Indian state-owned banking and financial services company headquartered in Vadodara (earlier known as Baroda) in Gujarat, India. It is the second-largest bank in India, and offers a range of banking products and financial services to corporate and retail customers through its branches
Here I am giving you details :-


Home Loan is available for:

Purchase of new / old dwelling unit.

Construction of house.

Purchase of plot of land for construction of a house.

Repaying a loan already taken from other Housing Finance Company / Bank.

Repayment period up to 30 years (floating rate option).


Benefits

Free Personal Accident Insurance is available for stipulated tenure.

Free Credit Card (BOBCARD – complementary for first year) to all Home Loan borrowers (first borrower) with loan limit of Rs. 2/- Lacs and above.

Concession of 0.25% in rate of interest for Car Loans.

Concession of 0.50% in rate of interest for Loan for consumer durables.

Top up Loan (Baroda Additional Assured Advance – AAA) can be availed 5 times during loan period.
(Minimum Rs.1/- Lac, Â Maximum Rs.200/- Lacs or 75% of residual value of house property after deducting 150% of outstanding loan amount of existing Home Loan, whichever is lower).

As per current IT provisions Interest on loan upto Rs.1.50 lacs per annum is exempt from income tax An additional deduction of interest upto Rs.1 lac is available to persons taking a loan for their first home upto Rs.25 lacs