In this article, we have tried to put in all the information on how to get BOB home loan statement online. The article also has other important information like the current Bank of Baroda home loan interest rate, mortgage plans, mortgage rates etc., that might be helpful to the customers. Here we also discuss the benefits of taking Bank of Baroda home loan and also the required procedures for the above-mentioned plans. The best schemes and offers are also mentioned for our customers to get a detailed view of the same.
Bank of Baroda Home Loan Statement
Bank of Baroda is the third-largest public sector bank in India having a total of 131 million happy customers. It is headquartered in Vadodara (9earlier known as Baroda). BOB is one of the oldest reputed banks of India founded in 1908 and have been satisfying its customers since then. BOB is also considered to be the National Bank with International standards providing the best services to its customers as well as its stakeholders. Bank of Baroda comes with great housing loan plans which are now best in the market with low EMIs which are quite easy to pay off. They have very interesting loan plans for home renovation and improvement, and Interest subsidy scheme for housing the urban poor (ISHUP), Baroda Ashray (reverse mortgage loan) and much more. As per the customers, Bank of Baroda rates 4.3 overall, which is quite higher if compared with other reputed banks. It provides home loans at much low-interest rate with:
- Home Loan Interest Rate: 7.00% onwards
- Loan Amount: Up to Rs. 10 Cr.
- Loan Tenure: Up to 30 years
- Processing Fees: 0.25% – 0.50% of loan amount + GST
Now if spoken about how you can know about your Bank of Baroda Home Loan Statement, there are two ways: Online and Offline
The online method of getting your BOB Home Loan Statement:
Like all other banks Bank of Baroda also serves you through its online portal. The users can visit the online website of the bank and just by providing the simple details like your application ID, mobile number or date of birth to track the status of your home loan application easily. You can also download the Baroda M—Connect Plus app from Google Play Store or Apple app store and log into it using your user ID and MPIN. Once you put in all the details the current status of your home loan or your BOB home loan statement will be shown on your screen.
The offline method of getting your BOB Home Loan Statement:
The offline procedure can only be carried out if you visit the bank physically. You have to either call up the bank’s customer care with the toll-free number 1800-258-4455 and 1800-102-4455 (toll-free) or have to visit the nearest Bank of Baroda Branch with the necessary documents to get your query cleared.
Like we mentioned before, Sank of Baroda provides one of the best home loans in the market:
- Baroda Home Loan–
If you are planning to buy your own house then you can get the best loans possible from here with low-interest rates and processing fee. With the home loans, you also get a free credit card and a concession of 0.25% for car loans, also free accident insurance with every home loan.
- Baroda Home Loan Advantage-
For residential Indians and Non-residential Indians, home loans are applicable and they are eligible to get one. The home loan sanctioned by the bank will be linked to the savings bank account.
- Baroda Pre Approved Home Loan–
This provides in-principle approval for a home loan even before the identification of a specific house/flat/plot by a prospective applicant. It gives the customers flexibility for negotiation with the builder or seller at the same time assurance from the bank about the loan.
- Home Improvement Loan-
If you want to give your home a new makeover or even want to improve certain things, but don’t have the required amount to spend right now then you can take this scheme of home loan.
- Interest Subsidy Scheme for The Urban Poor (ISHUP)-
This housing loan scheme is available for the urban poor only with people falling under average to low-income groups.
Home Suvidha Personal Loan-
This loan deals with the miscellaneous costs related to home insurances, registration costs, stamp duty, GST and others.
- Credit Risk Guarantee Fund Scheme for Low Income Housing (CRGFS)-
Individuals who fall under Average to Low-income groups of the population and are seeking for individual home loans not exceeding a sum of Rs. 5 lakh and to which there has not been provided with any third party guarantee, can avail this home loan. People in groups or a housing society of 20 members are also eligible for this loan.
- Baroda Top Up Loan (Resident/NRIs/PIOs)-
All the individuals who are already borrowers of home loan including NRIs/PIOs, staff and ex-staffs are eligible for this scheme, whose asset classification is standard.
- Pradhan Mantri Awas Yojana (PMAY)-
This scheme involves interest subsidies and in turn lets a large number of families across the country, purchase houses at low cost. This home loan scheme receives credit or interest subsidies on the home loans taken and it is based on the income category to which the family belongs.
- Baroda Home Loan Takeover Scheme-
The main benefit of this scheme is that one can take over their existing home loans from other banks to this scheme of Bank of Baroda. This is applicable for both residents of India as well as NRIs.
BOB Home Loan Eligibility Calculator
BOB home loan calculator allows people to get a crystal clear picture of how much loan one can get with their monthly income, salary and other incomes also keeping in mind the current ongoing debt obligations. This calculator helps you to plan your finance better before you opt for a housing loan from Bank of Baroda.
Most of the banks provide home loans by checking your citizenship, age and financial affordability for the required home loan. Nowadays, most of the banks have home loan eligibility calculators as well as EMI calculators on their website, where one is required to put in all the required data like monthly income, age, date of birth, select the loan tenure, other incomes, so that one can easily understand their status and choose a particular scheme of housing loan wisely.
How to apply for a home loan at Bank of Baroda
All of us want to be house owners of our own house at some point in time, ensuring lifelong financial security. But at times it becomes complicated to buy a house, land or even a plot when you don’t have the required amount available with you. In this kind of a situation, Bank of Baroda will always try to fulfil your dream by providing you with the best housing loans in the market at the lowest rate possible. Wondering how to apply for a home loan of your choice?
Follow the simple processes below:
Filling in the Application Form:
The basic step is this, be it online or offline, everyone is to fill in this form with their personal information like name, date of birth, property details, phone number and more.
You need to visit the website in case of online mode, you will find the form or you need to visit the branch for offline application.
Verification of Documents:
Thorough verification of the documents you have submitted will be done by the bank. It takes around 2-3 days to verify the documents and even might ask for a face to face interview in the bank itself.
After you are done with the above 2 steps, your background will be checked thoroughly like residential details, current employment etc. to proceed with your loan application.
Processing Fee Payment:
After the bank has checked your authenticity totally and also your repay capacity, then begins the housing loan process for which paying an amount of processing fee is necessary. Bank of Baroda generally charges between 0.25% – 0.50% of loan amount + GST.
The Loan Approval Process:
The most critical and crucial stage where the bank can approve or reject your loan as per the data provided and verification done earlier. The bank informs the essential details through an official sanction letter that confirms that your home loan is approved.
Processing of the property documents:
After the approval letter is received, you need to submit all the original documents to the bank and will remain so until the home loan is fully repaid. Again after submission, the bank verifies the documents once more before finally approving the home loan.
This last step includes registration of the loan deal, acceptance of the terms and conditions and other necessary deals by both the bank and the borrower.
Important Documents required for BOB Housing loan
The documents required for availing the BOB Home loan are as follows:
- Application form, Properly filled and signed along with 03 passport-sized photographs
- Proof of Identity – PAN CARD which is mandatory for application for loan above Rs.10.00lacs)
- Proof of Residence
- Voter ID /Driver’s License /Aadhar Card /Passport.
- If you have a previous loan then loan a/c statement for last 1 year along with sanction letter. (For the loan that is provided by Bank of Baroda, then just the Account No / and / or Customer ID required)
- Proof of all assets held like LIC/ KVP/Property/ NSC/MF
- Statement of Assets & Liabilities (Form 135)
- ITR Verification report
Documents required for applicants who are salaried individuals, availing the BOB Home loan are as follows:
- Applicant and guarantor’s Form 16 & ITR – last 1 year
- Last 3-month Salary Slips & last 1-month salary slip for Guarantors
- Copy of employee identity card provided by the employer
- If you are not a Bank of Baroda account holder, 6 months Bank A/c statement (Salary / Individual) confirmation / Appointment /increment letter / promotion as evidence for duration of employment
Documents required for applicants who are self-employed individuals or professionals, availing the BOB Home loan are as follows:
- Balance sheet and profit and loss account, computation of income for the last 2 years.
- Income Tax Returns – last 2 years for Applicants, 26 AS, Traces
- Business proof
- Income Tax Challans, Clearance Certificate, / IT Assessment / Form 26 AS for income declared in ITR/ TDS Certificate (Form 16A).
- If applicants are engaged in business through Partnership Firm/ Private Ltd. Company, the PAN Card of the Company as well as address proof.
- The last two years ITR and Audit results for the Firm’s.
- Bank Current Account Statement for the last year
- Memorandum of the company
Documents required for applicants who are farmers or villagers, availing the BOB Home loan are as follows:
- Talati’s/Gram Sevak/Village Revenue officer Certificate for past two consecutive years income and Mamladaar’s / Block Revenue officer’s certificate regarding income for last year.
- Land revenue records – Form 6, 7/12, 8A
- Bank account statement for the last 12 months
Documents required for applicants who are NRIs, POIs Origin or person with Overseas Citizenship of India, availing the BOB Home loan are as follows:
- Properly filled and signed application form along with a stamp-sized photograph
- Copy of passport with visa stamped.
- Proof of employment abroad
- Proof of residence
- Details of the local contact- like, their name, relation, address
- NRE Savings Bank statement of account for the last 6 months
- Overseas Bank Account Statement for the last 6 months (including for Salary Account)
- For those who do not have a Bank of Baroda account, statement of accounts of all existing Loan accounts for last 1 year.
- Credit check reports from the overseas credit bureau
Documents required for Persons of Indian Origin (POI), availing the BOB Home loan are as follows:
- A photocopy of the PIO Card or any of the under noted documents:-
- A current passport with the birthplace in India/abroad shown.
- Any previous Indian Passport held.
- Parents or grandparents passport with details in his claim of being a PIO
This home loan scheme is given against any asset or property. This helps one to get money at the time of emergency and one can avail Loan up to Rs.10 Cr. It also helps in money withdrawal as per your need and saves on interest cost. The interest rate per annum for this scheme is 8.45%.
Reverse Mortgage loan– Baroda Ashray
Bank of Baroda has come up with a scheme especially for the senior citizens, just to address their financial needs.
- The people taking this up should be a senior citizen of India, above 60 years of age.
- Married people will also be eligible as joint borrowers provided one of them is above 60 years of age and age of spouse is not below 55 years.
- Applicants should be the owner of a residential property located in India in their name.
- The tenure is 15 years. This may be further extended till survival of the borrower/s subject to the advance value of the property.
- The rate of interest for this mortgage scheme is BRLLR + Strategic Premium + 1.75%.
- Processing charges include:
- 20% of the Home Loan amount
- Maximum Rs.10,000/-
- Upfront Charges: Rs.7,500/-
Q. Who can apply for a home loan in Bank of Baroda?
People planning for a home or property purchase, age is minimum 21 years and is employed or self-employed with regular income are eligible for a home loan.
Q. How can I get my BOB Home Loan Statement Online?
The users can visit the online website of the Bank of Baroda and just by providing the simple details like your application ID, mobile number or date of birth to track the status of your home loan application easily.
Q. How to download the bank statements?
To get the BOB home loan statement, you need to log in to the online portal of the through the login id and password given to you by the bank and check it.
Q. For how long can I get the loan?
Bank of Baroda grants a home loan of up to a maximum of 30 years.
Q. How much loan does Bank of Baroda lends?
Bank of Baroda grants a home loan depending based on the applicant’s repaying capacity that is based on their age, assets, income, the stability of job, liabilities and so on. The maximum loan would be of Rs.10 Cr. Per unit based on the area where the property is or shall be constructed.