BOB Loan Scheme: Bank of Baroda , one of the top public sector banks in India has announced the launch of its annual holiday campaign, ‘Festival of Happiness’, which includes lucrative deals! During this campaign, the bank will offer attractive interest rates on home loans and auto loans as well as waiver of processing fee (BOB Loan Processing Charge) and other benefits.
BOB Loan Scheme
Home loan from Bank of Baroda can be availed without any processing fee and with interest rate starting from 7.95% p.a. Car loan from Bank of Baroda with a minimum rate of 7.95 percent p.a. are available on
Customers will also benefit from many additional features as part of the festival of happiness! Including a longer payment term of seven years, low processing fees and no prepayment or partial payment fees!
digital loan facility
Bank of Baroda has also launched a digital loan campaign (BOB Digital Loan Scheme) offering multiple digital loans for the customers to choose from, so that they have an opportunity to apply for loans for various purposes. The quick, simple and smart way to deliver and make the most of the holiday season!
These include personal loans, auto loans, home loans, student loans, Mudra loans, loans to small and medium businesses, loans for gold and Baroda Kisan Credit Card (BKCC). Both existing and new customers can apply by visiting Bank of Baroda website.
Documents Required for BOB Loan
- Latest three month salary slip and latest one month salary slip for guarantors!
- Latest Form 16 and ITR (if any) of applicants and guarantors
- Copy of Employee Identity Card!
- Appointment or increment letter as proof of employment.
- 6 months bank account statement of salary account
Home Loan Approval Process
Home loan approval process is a bit different and takes some time. Once the application is accepted, the bank sends its people to analyze the property and then submits the report to the bank. According to the report, the bank concludes whether the loan can be given or not, how much can be given and at what rate! This process is time consuming and can take weeks or even a month! This process may be quick in metropolitan cities and may vary in different parts of the country.