Bank of Baroda Loan Against Property (LAP)
- Interest Rate at 8.45% onwards
- Loan-to-Value Ratio up to 60% of the property value
- Loan Tenure up to 10 years
- Processing Fee up to 1% of the loan amount, subject to a maximum of Rs.1,50,000
Bank of Baroda offers borrowers Loan Against Property (LAP) or Mortgage Loan starting at just 8.45% interest rate. BOB LAP lets customers utilize the funds for any personal purpose, and can be availed as a term loan or an overdraft facility against mortgage of their residential or commercial property.
| Bank of Baroda Loan Against Property (LAP) Summary | |
|---|---|
| Interest Rate | 8.45% onwards |
| Loan-to-Value Ratio | Up to 60% of the property value |
| Loan Tenure | Up to 10 years |
| Processing Fees | Up to 1% of the loan amount, subject to a maximum of Rs.1,50,000 |
| Minimum Loan Amount | Rs.2 lakh |
| Maximum Loan Amount | Rs.10 crore for metro branches, Rs.5 crore for urban branches, Rs.3 crore for semi-urban branches and Rs.25 lakh for rural branches |
Note : The above rates are subject to change at the discretion of the banks or on the basis of RBI directives.
Eligibility Criteria for Bank of Baroda Loan Against Property
To avail of a Band of Baroda loan against property,
- Be salaried or self-employed residents with gross annual income of at least Rs.3 lakhs per annum.
- Have work experience or business continuity of at least 3 years.
Know your eligibility for a mortgage loan!
Use the Fincity loan against property calculator to find out.
Bank of Baroda Loan Against Property Interest Rate
The BOB Loan Against Property is linked to the Baroda Repo Linked Lending Rate (BRLLR). The applicable interest rate is a combination of the BRLLR and a spread which is decided based on the applicant’s risk profile.
| Loan Amount | Applicable ROI (per annum) |
|---|---|
| Up to Rs.5.00 crore | 8.45% to 11.00% |
| Up to Rs.5.00 crore | 8.45% to 11.00% |
Note :The above rates are subject to change at the discretion of the banks without prior notice.
Bank of Baroda (BOB) Processing Fee and Other Charges
Here’s a list of the processing charges a borrower can expect when they apply for a BOB LAP.
| Particulars | Charges |
|---|---|
| Processing Fee |
|
| Inspection Charges | Rs.100 |
| Statutory/Regulatory Charges | As per Actual |
Note :The above rates are subject to change at the discretion of the banks without prior notice.
Bank of Baroda Loan Against Property EMI Calculation
Analyze all the options available to you before you decide on a particular loan against property product. Make sure to go for an LAP that gives you maximum leverage in terms of finances and benefits while also allowing easy repayment. For better planning, use the Fincity Loan Against Property EMI calculator for a detailed payment schedule.
Documents Required for a Bank of Baroda Loan Against Property
Below is a list of documents required for a Mortgage Loan with Bank of Baroda.
| Salaried Individuals | Self Employed Individuals |
|
|
|
|
|
|
|
|
|
|
|
|
Note : Required documents must be self-attested and may slightly differ.
Bank of Baroda Loan Against Property (LAP) Benefits
You have access to a high loan amount with a repayment tenure of up to 10 years. The loan processing is quick and hassle-free, and the documentation is simple.
Seeking the best loan against property with maximum benefits?
Have our expert loan advisors guide you at no extra charge - connect with them at lap@fincity.com for free unbiased assistance – we help you access the lowest-rate loans and even negotiate the best terms on your behalf!