Baroda Pre-Approved Home Loan

CIBIL Score

• Minimum cut off CIBIL score must be 701.

Required Documents

• Documents related to Public Limited Company / Pvt. Ltd. Company / Partnership Firms / LLPs.
• Declaration to be submitted every year related to total borrowings.
• Undertaking that the property will not be let out. If property is let out penal interest @ 2% to be levied from the date of letting out the property.
• Duly Filled and Signed Application form along with three Photographs
• Proof of Identity - PAN CARD (mandatory for loan application above Rs.10.00lacs
• Driver’s License / Voter ID / Passport / Aadhar Card
• Proof of Residence(Driver’s License / Ration Card/ Voter ID / Passport / Aadhar Card/ Registered Rent Agreement)
• If any previous loan then loan a/c statement for last 1 year along with sanction letter.( If loan from BoB, Account No / Cust Id required)
• Proof of assets held like LIC/NSC/KVP/MF/PROPERTY
• Assets and Liabilities statement

Loan Processing Charges

• Rs. 8500/- upfront (Exclusive of GST)

Features

• The in-principle sanction letter for Baroda Pre-Approved Home Loan provides an eligible loan amount calculated as per prevailing interest rates and other existing guidelines of a home loan.
• The loan eligibility will be assessed on the basis of income details of the customer as per existing guidelines of home loan scheme, to resident individuals, NRI/PIO/OIC or Baroda Home Loan Advantage Scheme, as the case may be.
• Documents in support of income and repayment capacity (except property documents) are to be submitted to issue the pre-approved sanction letter.
• Processing Charges: Rs. 8,500 + plus service tax (upfront and non-refundable). Balance amount of unified processing charges, as applicable to home loan only, will be recovered after sanction of loan.
• Property papers will be required to be submitted by the borrower within the validity of Baroda Pre-Approved Home Loan, i.e., within 4 months from date of issue. If the borrower submits the property documents with in the validity period, balance amount of applicable unified processing charges only will be recovered from the borrower further on actual sanction of home loan.
• Valid for 4 months
• Greater flexibility
• Better negotiation powers with sellers
• Assured eligible loan amount