Description
Are you are dreaming of buying your own residence? Opt for Bank Home Loan. Home loan is packed with several exclusive features and benefits for aspiring homeowners. Our housing loan can be used for a variety of purposes. For instance, you can buy a plot, purchase a flat, build your own home and even extend your existing residence with a home loan. Use the home loan calculator to find out home loan interest rate & more!
A house loan or home loan simply means a sum of money borrowed from a financial institution or bank to purchase a house. Home loans consist of an adjustable or fixed interest rate and payment terms.
People generally take a home loan for either buying a house/flat or plot of land for construction of house, or renovation, extension and repairs to the existing house.
The property is mortgaged to the lender as a security till the repayment of the loan. The Bank of financial institution will hold the title or deed to the property till the loan has been paid back with the interest due for it.
Features & Benefits
Packages of exclusive benefits
Low Interest rates. Interest calculation on a daily reducing balance.
Home loan also available as an overdraft. Optimally utilize your surplus funds.
Low Processing charges. No hidden costs.
No Prepayment penalties. Reduce your interest burden by prepaying the loan
Home Loan products to suit every customers need
The approved home loan amount varies according to location and income of the applicants.
Low Interest Rates
Low Processing Fee
No Hidden Charges
No Pre Payment Penalty
The interest rate is linked to Baroda Repo Linked Lending Rate (BRLLR) of the bank and is reset monthly.
Interest charges on Daily Reducing Balance
Repayment up to 30 years
Moratorium period up to 36 months after the loan amount is disbursed.
Generally, we accept mortgages of the constructed or purchased property as collateral. In some cases, collateral for home loans can be accepted in the form of insurance policies, government promissory notes, shares and debentures, gold ornaments and other property etc.
