Baroda Max Savings Home Loan
Your dream home should not cost you a fortune in interest. With the Baroda Max Savings Home Loan, your savings complement your loan to minimize interest outgo. This innovative plan couples your home loan with a zero-interest savings account, allowing you to use daily deposits to set off your loan amount. The outcome? Smaller interest outgo and quicker loan repayment. Learn how this intelligent solution can make your home yours sooner, with less strain on your finances.
Baroda Max Savings Home Loan
Owning a home is a dream for many, but what if your home loan could also help you save money? The Baroda Max Savings Home Loan from the Bank of Baroda offers a unique way to reduce your interest burden by linking your loan with a savings account. This smart facility allows your idle funds to work in your favor, helping you pay less interest over time. Let’s explore how this works and why it could be the smartest way to finance your home.
What is the Baroda Max Savings Home Loan Scheme?
The Baroda Max Savings Home Loan is an interest-saving home loan scheme where your sanctioned loan is linked to a zero-interest savings account. Any money in this linked account at the end of the day is used to offset your home loan balance, reducing the amount of interest you pay.
How it works:
- You deposit your savings into the linked account.
- The daily closing balance is adjusted against your home loan principal.
- The interest is calculated on the net balance (Loan – Savings).
- Result: Lower interest charged and faster loan repayment.
Key Features of the Baroda Max Savings Home Loan
| Feature | Details |
| Loan Linkage | The home loan is linked to a zero-interest SB account |
| Zero RoI Savings Account | Savings account interest is zero, but balances reduce loan interest |
| Daily Offset Mechanism | Daily closing credit used to offset the loan balance |
| Flexible Deposits | Borrower can deposit any amount anytime to maximize savings |
| Optional Life Insurance | Group Credit Life Insurance cover is available |
| Auto EMI Recovery | EMIs are auto-debited from the linked savings account |
| Maximum Loan Tenure | Up to 30 years, with a max 36-month moratorium |
Benefits of Choosing Baroda Max Savings Home Loan
- Lower Effective Interest Rate
As your savings reduce the loan balance, you pay less interest over time. - Best Use of Idle Funds
Instead of letting your money sit idle, it helps reduce your debt cost. - Auto EMI Payment
No worries about missing payments—EMIs are auto-debited from the linked account. - Flexible Repayment
Repayment tenure of up to 30 years with a grace period for under-construction properties. - Optional Life Insurance
Protection for your family in case of unforeseen events—insurance premiums can be financed by the loan.
Eligibility Criteria for Baroda Max Savings Home Loan
| Eligibility Factor | Details |
| Resident Type | Resident Indians, NRIs, PIOs, and OCIs |
| Applicant Type | Individuals (single or joint), staff, not HUFs |
| Income Criteria (India) | Salaried: Minimum1-your job |
| Income Criteria (NRI/OCI/PIO) | Minimum ₹5 lakh gross annual income |
| Age | Minimum 21 years (borrower) and 18 years (co-applicant) |
| Credit Score | CIBIL score affects interest rate |
| Property Location | Pan-India with varying maximum loan limits |
Loan Amount & Location-wise Limits
| Location | Maximum Loan Amount |
| Mumbai | ₹20 Crores |
| Delhi, Bengaluru, Hyderabad | ₹7.5 Crores |
| Other Metros | ₹5 Crores |
| Urban Areas | ₹3 Crores |
| Semi-Urban/Rural | ₹1 Crore |
| Chandigarh Tri-city | ₹5 Crores |
Purpose of the Loan
- Purchase/Construction of a house or flat
- Purchase of residential plot
- Construction on a purchased plot
- Home loan balance transfer from another bank/NBFC
- Home extension or renovation
- Reimbursement of construction expenses from own sources
Interest Rates for Baroda Max Savings Home Loan (Floating & Fixed)
Floating Rate:
| Loan Amount | Applicant Type | Effective Interest Rate |
| Upto ₹75 Lakhs | Salaried/Non-Salaried | 8.40% – 10.10% |
| Above ₹75 Lakhs | Salaried/Non-Salaried | 8.65% – 10.35% |
Fixed Rate:
| Loan Amount | Applicant Type | Effective Interest Rate |
| Upto ₹75 Lakhs | Salaried | 9.65% – 11.00% |
| Upto ₹75 Lakhs | Non-Salaried | 9.75% – 11.10% |
| Above ₹75 Lakhs | Salaried | 9.90% – 11.25% |
| Above ₹75 Lakhs | Non-Salaried | 10.00% – 11.35% |
Note:
- Rates depend on the CIBIL score and risk profile.
- Risk premium of 0.05% for customers without credit insurance.
Processing Charges
| Lead Source | Processing Charges |
| Non-DSA Takeover | Nil (₹1500 login fee refundable on disbursement) |
| Digital/Approved Projects | Full waiver (₹3,500–₹8,500 + GST recovery) |
| Govt/PSU Employees | Nil (login fee refundable) |
Documents Required
Bank of Baroda has provided a comprehensive list of documents for Baroda Max Savings Home Loan. You can download it here. Common documents include:
- Identity and Address Proof
- Income Proof (ITR, Salary slips, etc.)
- Bank Statements
- Property Documents
- Passport & Visa (for NRIs)
Repayment Terms and Conditions
| Repayment Term | Details |
| Loan Tenure | Up to 30 years |
| Moratorium Period | Up to 36 months based on the property stage |
| EMI Payment | Monthly installments or half-yearly (for agriculturists) |
| Pre-closure Charges | NIL |
Repayment Capacity Norms:
| Net Income | Max Deduction % |
| < ₹25,000 | 40% |
| ₹25K – ₹50K | 60% |
| ₹50K – ₹1 Lakh | 65% |
| ₹1 Lakh – ₹2 Lakh | 70% |
| > ₹2 Lakh | 75% |
Group Credit Life Insurance (Optional)
Bank of Baroda offers group life cover through IndiaFirst Life Insurance to protect your family in case of unfortunate events.
Highlights:
- Optional and affordable
- A one-time premium can be added to the loan amount.
- Protects your family from repayment liability
- Premium refund possible on foreclosure (terms apply)
Why Apply for Baroda Max Savings Home Loan via NoBroker?
Applying through NoBroker offers convenience, support, and transparency.
- End-to-end loan assistance
- No paperwork hassles – 100% digital process
- Negotiated interest rates with partner banks
- Track application status in real-time
- Personalized loan offers and eligibility check
Ready to Save While You Pay? Apply Now with NoBroker!
The Baroda Max Savings Home Loan isn’t just another home loan—it’s a smarter way to finance your home and save on interest without any extra effort. If you want to maximize your savings while building your dream home, apply today through NoBroker and take advantage of expert guidance, faster processing, and exclusive benefits.
