Bank of Baroda pre-approved home loan provides in-principle approval for home loan by identifying the property such as house, flat or plot of the potential home loan applicant before applying. The in-principle approval letter for BOB pre-approved home loan provides the eligible loan amount calculated as per the prevailing interest rates and other extant home loan guidelines.
| Bank of Baroda Pre-Approved Home Loan Bank of Baroda Pre-Approved Home Loan |
| Loan Details | required documents ,Required Documents, |
| 1. Loan Type – BOB Home Loan 2. Loan Amount (loan amount) – ₹ 1-5 crore, Mumbai ₹ 20 crore 3. Loan Tenure (loan period) – up to 30 years 4. Interest Rate (Interest Rate) – 8.60 to 10.60% 5. Processing Fees – Nil (Nil) |
1. PAN Card 2. Aadhaar Card 3. Your Photo 4. Address Proof 5. Bank Statement 6. Statement of Assets and Liabilities 7. Proof of your assets 8. ITR Verification Report |
| Loan Eligibility | Loan Application |
| 1. Citizenship and passport holders of India 2. Any man or woman 3. Age above 21 years 4. Original property documents 5. Any fixed source of income 6. Good Credit Score |
1. BOB website or branch application 2. Login with your name and mobile number 3. Fill in your required information 4. Upload the required documents 5. Submit loan application 6. Wait for loan approval |
‘Baroda Pre-Approved Home Loan’ provides ‘in-principle approval’ for identification of a specific house/flat/plot prior to home loan application. Loan eligibility is assessed on the basis of income details and CIBIL score of the customer as per the extant guidelines of the home loan scheme.
The ‘in-principle’ approval is valid for 4-months from the date of issue. The applicant needs to submit the property papers within the validity of the ‘Baroda Pre-approved Home Loan’ i.e. within 4 months from the date of disbursement.
There is no commitment of the bank to sanction or disburse the BOB home loan, as the actual sanction depends on the value of the property offered and the bank and the borrower. for more information Bank of Baroda website Can visit.
What is Pre Approved Home Loan?
A “pre-approved home loan” is one where the bank gives in-principle approval after valuing a specific property such as a house, flat or plot before accepting the loan application. The “in-principle” sanction letter will specify the maximum loan amount that is allowed based on the prevailing interest rate and other norms.
How much loan can I get for pre approved home loan?
The pre approved home loan amount depends on your income, total deductions and liabilities and the total cost of the house and property. Pre-approval Sanction letter is issued for the total loan amount based on the income and repayment capacity of the applicant.