Bank of Baroda Home Loan Takeover Scheme
Do you wish to cut your high EMIs on your current home loan? Shift to the Bank of Baroda Home Loan Takeover Scheme and get benefits with reduced interest rates, fast processing, and the plus point of top-up loans. Partner with NoBroker and enjoy easy documentation, doorstep service, and easy transition to save more. Learn how NoBroker facilitates your loan transfer and increases your freedom to spend!
Bank of Baroda Home Loan Takeover Scheme
Already paying a home loan with another bank or NBFC? It’s time to switch and save with the Bank of Baroda Home Loan Takeover Scheme. With lower interest rates, minimal documentation, and exclusive benefits like top-up loans and optional life insurance, the Bank of Baroda makes it easy for both resident and non-resident Indians to transfer their existing home loan without hassle.
If you’ve already paid 12 EMIs and maintained a good repayment record, you may not even need to submit income documents. Read on to discover why switching to Bank of Baroda through NoBroker could be your smartest financial move for the Bank of Baroda Home Loan Takeover Scheme
What is the Bank of Baroda Home Loan Takeover Scheme?
The Bank of Baroda Home Loan Takeover Scheme allows borrowers to transfer their existing home loans from other banks, NBFCs, HFCs, or financial institutions to the Bank of Baroda. Along with competitive interest rates, it offers additional benefits such as top-up loans, optional life cover, and no hidden charges.
Whether you’re a salaried professional, self-employed, or an NRI, the takeover scheme is open to all eligible borrowers with a clean repayment history and at least 12 EMIs paid.
Key Benefits of the Bank of Baroda Home Loan Takeover Scheme
| Benefit | Description |
| Easy Top-Up Loan | Get additional funds over and above your transferred loan |
| Optional Life Insurance | Protect your loved ones with optional credit life insurance |
| Free Credit Card | Eligible borrowers get a complimentary credit card |
| Longer Tenure | Repayment period of up to 30 years |
| Low Interest Rates | Competitive floating and fixed rates |
| Low Processing Charges | Waivers available on processing fees |
| No Pre-Closure Charges | Enjoy zero foreclosure penalties |
Top Features That Make the Switch Worth It
- No hidden charges
- No prepayment penalty
- Top-up facility available
- Link home loan with a Bank of Baroda savings account
- Daily reducing interest calculation.
- Free credit card and optional life cover
Note: Any credit balance in the linked savings account at the end of the day reduces your loan’s interest burden.
Eligibility Criteria for Bank of Baroda Home Loan Takeover Scheme
For Individuals
| Criteria | Details |
| CIBIL Score | Minimum 701 |
| EMIs Paid | Minimum 12 EMIs completed |
| Repayment History | Must be satisfactory |
| Age | Borrower: Min. 21 years, Co-applicant: Min. 18 years, Max. up to 70 years |
| Applicants | Single or joint borrowers; Staff members also eligible |
| Borrower Type | Resident Indians, NRIs, PIOs, and OCIs |
For Non-Individual Entities (As Co-Applicant/Guarantor)
| Criteria | Details |
| EMIs Paid | Minimum 18 EMIs completed |
| Incorporation | Company must be 5+ years old |
| Profit Track Record | Cash profits in the last 2 years |
| Credit Health | Satisfactory CIBIL; not in SMA-2 or defaulter lists |
| Active Business | Ongoing operations for 2+ years |
| Net Worth | Should be positive |
At least one individual must be an applicant or co-applicant in the loan.
Loan Amount Limits by Location
| Location | Maximum Loan Amount |
| Mumbai | ₹20 Crores |
| Delhi, Hyderabad, Bengaluru | ₹7.5 Crores |
| Other Metros | ₹5 Crores |
| Urban Areas | ₹3 Crores |
| Semi-Urban / Rural Areas | ₹1 Crore |
| Chandigarh Tri-city | ₹5 Crores |
Interest Rates & Processing Charges
Interest rates are linked to CIBIL score and risk category. For the latest rates, click here.
Processing Charges
| Lead Source | Charges |
| Non-DSA (Digital or Non-Digital) | NIL (₹1,500 login fee refundable after first disbursement) |
| Approved Projects | 100% waiver; ₹3,500 + GST out-of-pocket recovery |
| Govt/PSU Employees (Non-DSA) | NIL; ₹1,500 login fee refundable post disbursement |
| Non-Digital Channel | 100% waiver; ₹10,000 + GST out-of-pocket recovery |
| Digital Channel | 100% waiver; ₹5,000 – ₹8,500 + GST (depending on conditions) |
Repayment Structure
| Factor | Detail |
| Maximum Tenure | 30 years |
| Moratorium | Up to 36 months |
| Repayment Type | EMI-based monthly/half-yearly (for agriculturists) |
| Prepayment Charges | NIL |
Repayment Capacity Norms
For Salaried Individuals:
| Net Monthly Income | Max Deductions (Including EMI) |
| Below ₹25,000 | 40% |
| ₹25,000 – ₹49,999 | 60% |
| ₹50,000 – ₹99,999 | 65% |
| ₹1,00,000 – ₹1,99,999 | 70% |
| ₹2,00,000 and above | 75% |
For Self-Employed:
| Average Annual Income | Max Deduction (Including EMI) |
| Up to ₹6 lakhs | 70% |
| More than ₹6 lakhs | 80% |
Documents Required for Bank of Baroda Home Loan Takeover Scheme
For a smooth process, here are some common documents needed:
- Identity & Address Proof (Aadhaar, PAN, Passport)
- Loan Statement from existing lender
- Sanction letter from existing bank/NBFC
- Property documents
- Income documents (if applicable)
Life Insurance Facility (Optional)
Bank of Baroda offers an optional group credit life insurance plan to secure your family’s future in case of unforeseen circumstances. The insurance premium can be financed as part of the loan amount and is refundable (partial) in case of foreclosure.
Why Apply for the Bank of Baroda Home Loan Takeover Scheme via NoBroker?
NoBroker isn’t just a home loan facilitator. It’s your full-service home finance partner with exclusive benefits when you apply through them:
- Personalized loan eligibility check
- End-to-end document assistance
- Lower interest rates through bulk deals
- Real-time application tracking
- Paperless and quick processing
Ready to Switch and Save? Apply via NoBroker Now!
If your current home loan is costing you more than it should, it’s time to switch to the Bank of Baroda Home Loan Takeover Scheme. With attractive interest rates, easy top-up facilities, and zero foreclosure charges, switching your loan could save you lakhs.
Let NoBroker help you through a 100% hassle-free, paperless process. Check your eligibility now for the Bank of Baroda Home Loan Takeover Scheme and take the smarter step toward financial freedom.
