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27th April 2016, 03:29 PM
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Join Date: May 2012
Re: Bank of Baroda Home Loan DSA

The details of the home Loan which is offered by the Bank of Baroda directly as well as through their Direct Sales Agent is as explained under:

BOB offers taking after advantages with home advance to be profited by you:

Free Personal Accident Insurance is accessible for stipulated tenure. Free Credit Card (BOBCARD – integral for first year) to all Home Loan borrowers (first borrower) with advance cut-off of Rs. 2/ - Lacs and above. Concession of 0.25% in rate of enthusiasm for Car Loans. Concession of 0.50% in rate of enthusiasm for Loan for customer durables. Top up Loan (Baroda Additional Assured Advance – AAA) can be benefited 5 times amid advance period.(Minimum Rs.1/ - Lac, Maximum Rs.200/ - Lacs or 75% of leftover estimation of house property in the wake of deducting 150% of extraordinary credit measure of existing Home Loan, whichever is lower).As per current IT procurements – Interest on advance up to Rs.1.50 lacs per annum is absolved from wage charge (Under segment 23/24 (1) of the Income Tax Act). An extra derivation of interest up to Rs.1 lac is accessible to persons taking an advance for their first home up to Rs.25 lacs amid March 2013 to Feb 2014.

Free Personal Accident Insurance is accessible for stipulated residency.

Free Credit Card (BOBCARD – corresponding for first year) to all Home Loan borrowers (first borrower) with advance breaking point of Rs. 2/ - Lacs or more.

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

Concession of 0.50% in rate of enthusiasm for Loan for customer durables.

Top up Loan (Baroda Additional Assured Advance – AAA) can be benefited 5 times amid credit period.

(Least Rs.1/ - Lac, Maximum Rs.200/ - Lacs or 75% of leftover estimation of house property in the wake of deducting 150% of exceptional credit measure of existing Home Loan, whichever is lower).

According to current IT procurements – Interest on advance up to Rs.1.50 lacs per annum is excluded from salary charge (Under area 23/24 (1) of the Income Tax Act). An extra reasoning of interest up to Rs.1 lac is accessible to persons taking an advance for their first home up to Rs.25 lacs amid March 2013 to Feb 2014.

Advance Feature


Advance Amount Up to 80% of the important measure of home credit

Interest Rate 10.25%

Tenure 30 Years

Pre Payment Charges No Pre-installment charges

Administration Charges

Credit up to Rs.30 Lacs – 0.50% (Min. Rs.5,000/ - ) + charges

Above 30 Lacs - 0.40% (Min. Rs.15,000/ - and Max. Rs.50,000/ - ) + charges

Qualification Criteria:
Home Loan
Salaried Self

Age Maximum 60 Years Maximum 65 Years

Income Income criteria not provided Income criteria not gave

Work Experience Job experience not provided Job encounter not gave

Home Proof Residence evidence not provided Residence verification not gave

Docs Required:
Home Loan
Salaried
Self

ID Proof
PAN card/Voters ID/Passport/Driving License
PAN card/Voters ID/Passport/Driving License

Address Proof
Recent phone charge/power charge/property charge receipt/identification/voters ID
Recent phone charge/power charge/property charge receipt/international ID/voters ID

DOB Proof

10th class certificate
10th class declaration

Monetary Docs

• Statements (most recent 3 months bank articulation/6 months bank passbook)

• Latest pay slip or current dated pay endorsement with most recent Form 16

• Bank Statements(latest 6 months bank articulation/passbook)

• Latest ITR alongside calculation of wage, B/S and P&L a/c for the last 2 yrs. affirmed by a CA

• Qualification evidence of the most astounding proficient degree

Different Charges: Home Loan

Punitive Interest: - If borrower defaults in installment of EMIs or record gets to be unpredictable, the Bank will require a higher rate of premium (2% over consistent rate) on the sporadic sum for the time of abnormality.


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