Hi, While planning to buy a new house, I thought of opting for a home loan. Since I hold a BoB bank account, I planned to take the loan from Bank of Baroda. I asked a friend who works at the Bank of Baroda about the BoB home loan interest rate CIBIL score. Here is what he told me.
What Is The BoB Home Loan Interest Rate As Per Cibil Score?
My friend provided me with a bunch of information about home loan interest rates and CIBIL scores. I am putting all the information in a table below to make it easier for you;
Bank of Baroda Home Loan
-
Amount
Rs. 20 Crore
Processing Fee
Up to .50%.
Max Tenure
30 Years
Interest Rate (For Salaried and Non-Salaried)
8.40% – 10.60%
CIBIL Score
Above 701
Following this conversation with him, I checked my CIBIL score, and it was below 700. I informed him about my CIBIL score. I also asked him how I could improve my CIBIL score, and here is what he told me.
Paying Off Existing Loans
He told me to ensure that I am paying my existing EMIs on time and that there is no default.
Choose A Joint Home Loan
He said that, when sanctioning home loans, lenders consider the income of both parties. So, if the combined monthly income is higher, the loan amount will also be high.
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What Is The BoB Home Loan Interest Rate CIBIL Score?
Hetal
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March 4, 2024
2024-03-04T12:11:56+00:00 2024-03-04T12:12:17+00:00Comment
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Home Loans
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