Are you wondering how much home loan you can get from Bank of Baroda if your monthly salary is ₹25,000? Or curious about the interest rates they offer depending on your credit score? Well, you’re in the right place! We will tell you everything you need to know about Bank of Baroda’s home loan schemes, eligibility criteria, interest rates, and much more.
From salary-based eligibility to the maximum loan amount you can get, and even how your credit score plays a role in determining your interest rates — we’ve covered it all. For instance, with a monthly income of ₹25,000 and a good credit score above 771, you could be eligible for a home loan up to ₹17.47 lakh for 20 years at an interest rate as low as 8.35%. Plus, Bank of Baroda offers loans up to ₹20 crore in metro cities like Mumbai! Let’s dive into the details.
Quick Highlights
| Feature | Details |
|---|---|
| Minimum Monthly Salary | ₹25,000 (example eligibility) |
| Interest Rate (Salaried) | 8.65% to 10.35% (Floating) |
| Maximum Loan Tenure | Up to 30 years |
| Maximum Loan Amount | ₹20 crore (Mumbai), ₹7.5 crore (Delhi, Bengaluru, Hyderabad) |
| Processing Fee | ₹8,500 to ₹25,000 depending on loan size |
| Prepayment Charges | None |
| Eligibility Age | Minimum 21 years, Max repayment age 70 years |
| Loan Schemes | Salary, Non-Salary, Top-up, Takeover, Home Improvement, Pre-approved, Max Saving |
Bank of Baroda offers a wide range of home loan options tailored to different customer needs. Whether you are salaried, self-employed, or already have a home loan with another bank, there’s a scheme for you.
Types of Home Loan Schemes
- Salaried and Non-Salaried Loans: Separate schemes based on your employment status.
- Max Saving Home Loan: Link your existing Bank of Baroda savings account with your home loan to reduce interest burden.
- Takeover Scheme: Transfer your existing home loan from another bank or housing finance company to Bank of Baroda for better rates.
- Home Improvement Loan: For repairs, renovations, or buying home appliances like ACs or water purifiers, with loan amounts up to ₹50 lakh.
- Pre-Approved Home Loan: For existing Bank of Baroda customers with a clean repayment record.
- Top-Up Loan: Additional loan for personal needs for existing home loan customers, starting from ₹1 lakh.
These options provide flexibility whether you’re buying a new home, renovating an existing one, or switching loans for better terms.
Eligibility and How Much Loan You Can Get with ₹25,000 Salary
A big question is how much loan you can get if your monthly income is ₹25,000. Bank of Baroda’s eligibility calculator gives a clear picture.
Eligibility Criteria
- Indian residents, NRIs, or PIOs can apply.
- Minimum age to apply: 21 years; maximum age to repay loan: 70 years.
- Loan tenure up to 30 years.
- Co-applicant option available to increase loan eligibility.
- Credit score plays a big role in interest rate offered and loan amount.
Loan Amount Calculation Example
Consider a salaried individual with ₹25,000 monthly salary, born in 1994, and credit score above 771. Here’s what happens:
| Loan Tenure | Eligible Loan Amount | Interest Rate | EMI (Approx) |
|---|---|---|---|
| 10 years (120 months) | ₹11,89,200 | 8.90% | ₹15,000 |
| 15 years (180 months) | ₹15,50,000 | 8.15% | ₹15,000 |
| 20 years (240 months) | ₹17,47,533 | 8.35% | ₹15,000 |
This shows a longer tenure helps increase loan amount eligibility while keeping EMI manageable. If credit score drops to 700-726, interest rate may go up to 9.25%, reducing loan eligibility to around ₹16.37 lakh.
Interest Rates, Processing Fees & Other Charges
Bank of Baroda offers competitive interest rates which depend on whether you choose floating or fixed rates, your salary status, and your credit score. This is the interest rate range-
- Salaried (Floating): 8.65% to 10.35%
- Non-Salaried (Floating): 8.65% and above
- Salaried (Fixed): Starting at 9.90%
- Non-Salaried (Fixed): Starting at 10%
Processing Fees
- For loans up to ₹50 lakh, fees range between ₹8,500 to ₹15,000.
- For loans above ₹50 lakh, fees can go up to ₹25,000.
- Takeover loans typically have a flat processing fee of ₹8,500.
- Government employees enjoy zero processing fees.
Other Perks
- No prepayment penalty — pay off your loan early without extra charges.
- Long tenure up to 30 years.
- Daily reducing balance method used to calculate interest, helping reduce interest burden over time.
- Free credit card offers in some schemes.
Documentation Required for Home Loan Application
Depending on whether you are salaried or self-employed, the documents needed vary.
For Salaried Applicants
- Loan application form with photograph.
- Address proof & age proof.
- Salary slips for last 3 months.
- Employer ID card.
- Income proofs like Form 16 or ITR.
- Bank statements for last 6 months.
- Appointment letter, promotion letter, or confirmation letter.
- Co-applicant and guarantor salary slips if applicable.
For Self-Employed Applicants
- Balance sheet and profit & loss account statements.
- Last two years Income Tax Returns.
- Two years Income Tax Assessment Clearance certificates.
- Business proof like trade license.
- TDS certificates and tax challans.
How to Calculate Your EMI?
Bank of Baroda provides an online EMI calculator where you can input your loan amount, tenure, interest rate, and get a detailed breakup of principal and interest components. You can see your monthly EMI, total interest payable, and outstanding balance at any point during the loan tenure.
For example, with a ₹17.47 lakh loan over 20 years at 8.35% interest, your EMI is around ₹15,000. The total payment over 20 years would be around ₹36 lakh, where interest makes up roughly 51.5% of the total payment.
Conclusion
Bank of Baroda offers flexible and affordable home loan options suitable for a wide range of customers — whether salaried, self-employed, or existing loan holders. With low interest rates, long tenures, and minimal fees, it’s a great choice if you want to buy or renovate your home.
If your monthly salary is ₹25,000, you can expect to get a home loan ranging from ₹12 lakh to ₹17.5 lakh depending on loan tenure and credit score. Plus, the bank’s transparent policies and easy documentation process make it convenient for first-time homebuyers.
So, check your eligibility, calculate your EMI using their online tools, and take a step closer to owning your dream home with Bank of Baroda’s home loan!
Hi, I’m Sonal Sharma. I’ve been writing content for the past 5 years, and over time, I’ve developed a strong interest in topics that truly impact people’s lives—especially the latest news, government schemes, and investment plans. I love breaking down complex updates into simple, easy-to-understand pieces that can actually help readers make informed decisions. Whether it’s a new policy or a savings opportunity, I’m always on the lookout for the kind of information that can make a real difference.