homeowner loans 7

This bank offers housing loans to the applicants and makes you to realize your dreams of owning a house. It also offers some benefits along with the home loans like "Free property and accident cover insurance". This complements will apply for loans which is applied for a certain time period fixed by the bank.

Bank of Baroda Home Loan rates:

It offers fixed as well as floating loan interest rates. It will be beneficial if you choose floating interest rates, so that you can hedge the risk of fluctuations in interest rates. It also offers special concession to applicants who are working in the preferred organizations. You can get the list of preferred organizations by visiting the nearest branch.

The details of current rate of interest as on February 2010 are:

• 8.5% for a loan amount less than 30 lakhs with a repayment period of 5 years.
• 9.25% for a loan amount more than 30 lakhs with a repayment period of 5 years.
• 8.75% for a loan amount less than 30 lakhs with a repayment time of 5 to 15 years.
• 9.5% for a loan more than 30 lakhs with a repayment time of 5 to 15 years.
• 9% for a loan less than 30 lakhs with a repayment period of 15 to 25 years.
• 9.75% for a loan amount more than 30 lakhs with a repayment period of 15 to 25 years.

Home Loan Application Requirements:

• You have to submit your address proof and identity proof.
• You have to submit your income proof and you should have a regular income. If you are a salaried person, then you should produce your payslip. If you are self employed, you should provide the income details of your business.