Estimate your monthly Bank of Baroda home loan EMI, including principal, interest, property tax and home insurance, and view the full repayment schedule.
Bank of Baroda home loan interest rates are linked to the RBI Repo Rate via RLLR and vary by loan amount and your credit score. Enter your sanctioned or applicable rate — check bankofbaroda.in or your branch for current rates.
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This calculator estimates your monthly Bank of Baroda home loan EMI (Equated Monthly Instalment), total interest payable over the loan tenure, and total repayment amount. It also lets you add annual property tax and home insurance to get a complete monthly housing cost picture. Bank of Baroda (BoB) is one of India's largest public sector banks and a major home loan lender, known for competitive floating rates linked to the RBI Repo Rate and a pan-India network of branches. Use this calculator to plan your home loan before applying to Bank of Baroda.
Bank of Baroda calculates home loan EMIs on the monthly reducing balance method. Interest is applied on the outstanding principal balance each month, so the interest component in each EMI reduces over time while the principal component increases.
Formula: Loan = Property Price − Down Payment. EMI = [P × R × (1 + R)N] ÷ [(1 + R)N − 1], where R = monthly interest rate (annual ÷ 12 ÷ 100), N = total months.
Example: Property ₹60,00,000, down payment ₹12,00,000, loan ₹48,00,000 at 8.5% per annum (example rate — enter your Bank of Baroda sanctioned rate), 20-year tenure: Monthly EMI ≈ ₹41,655.52. Total interest ≈ ₹51,97,323.65. Total repayment ≈ ₹99,97,323.65. (Note: BoB rates change with RBI Repo Rate revisions — enter your sanctioned rate for an accurate estimate.)
Bank of Baroda is one of India's foremost public sector banks for home financing, with a broad product suite covering home purchase loans, construction loans, plot purchase loans, home improvement and extension loans, and balance transfer products. BoB's home loan rates are linked to the RBI Repo Rate via the RLLR (Repo Linked Lending Rate), ensuring that Monetary Policy Committee rate cuts are passed on to borrowers within a quarter. This is particularly beneficial in a falling interest rate environment, unlike older MCLR-linked loans where transmission was slower. Bank of Baroda typically charges a processing fee of up to 0.50% of the loan amount (subject to minimum and maximum limits), which is lower than many private sector banks. As a public sector bank, BoB also participates in government-backed schemes: the Pradhan Mantri Awas Yojana (PMAY) Credit Linked Subsidy Scheme (CLSS) offers eligible borrowers an upfront interest subsidy on housing loans, effectively reducing the loan principal. First-time buyers in the EWS/LIG and MIG categories can benefit from CLSS subsidies ranging from 3% to 6.5% on the eligible loan amount. BoB home loans are available to salaried employees, self-employed professionals, and businesspersons, with tenure up to 30 years and loan amounts from ₹1 lakh to several crores. Two key income tax deductions apply: Section 24(b) allows up to ₹2 lakh per year deduction on interest paid for self-occupied property; Section 80C allows up to ₹1.5 lakh deduction on the principal repaid annually (combined with other 80C investments). A CIBIL score of 700+ is recommended; BoB uses both CIBIL and internal credit data for assessment.
Bank of Baroda home loan rates are linked to its RLLR (Repo Linked Lending Rate), which moves with the RBI Repo Rate. Indicative rates for eligible salaried borrowers with good CIBIL scores typically start from around 8.40-8.75% per annum. Rates vary by loan amount, borrower category, and CIBIL score. As a public sector bank, BoB rates are often competitive with or slightly lower than private sector banks for comparable borrower profiles. Check bankofbaroda.in for current rate cards, as these change with RBI policy decisions.
Yes — Bank of Baroda is an approved lending institution under the Pradhan Mantri Awas Yojana (PMAY) Credit Linked Subsidy Scheme (CLSS). Eligible borrowers (first-time home buyers in EWS/LIG/MIG income categories) can receive an upfront interest subsidy credited directly to the loan account, reducing the outstanding principal. The subsidy amount varies by income category and loan amount, ranging from ₹1.8 lakh for MIG-II to ₹2.67 lakh for EWS/LIG categories. Contact a Bank of Baroda home loan branch to verify your eligibility and the current status of the PMAY scheme.
RLLR (Repo Linked Lending Rate) is Bank of Baroda's home loan benchmark rate linked to the RBI Repo Rate. When the RBI Monetary Policy Committee changes the Repo Rate, the RLLR adjusts automatically within the same quarter (per RBI mandate for EBLR-based loans). Your home loan EMI (or tenure) is then reset accordingly. This means BoB home loan borrowers benefit quickly from rate cuts but also face higher rates quickly when the RBI raises rates. The rate transparency and quick transmission are the primary advantages of RLLR over the older MCLR system.
Yes — Bank of Baroda offers a balance transfer facility for home loans from other banks and NBFCs. If your current lender's rate is higher than BoB's rate, transferring can lower your EMI or shorten your remaining tenure. A processing fee applies on the transferred amount (typically 0.25-0.50% of the outstanding balance). You will also need to provide KYC documents, income proof, and existing loan account details including the outstanding balance and repayment history. BoB generally requires at least 12 months of satisfactory repayment at the existing lender before processing a balance transfer.
Home loan borrowers at Bank of Baroda can claim: (1) Section 24(b) — interest paid on the home loan is deductible up to ₹2 lakh per year for self-occupied property (no limit for let-out property, set off against rental income). (2) Section 80C — principal repaid during the financial year is deductible up to ₹1.5 lakh per year (combined limit with other 80C investments). (3) For first-time buyers of affordable housing, an additional ₹1.5 lakh deduction on interest may be available under Section 80EEA (subject to conditions). Joint borrowers can claim these deductions individually, which can double the household tax benefit.
Bank of Baroda typically requires a minimum CIBIL score of around 675-700 for home loan consideration, with the best rates available to borrowers at 750+. As a public sector bank, BoB may have somewhat more flexible score requirements for borrowers with long-standing government employment or strong income profiles, compared to private sector banks. However, a lower credit score is likely to result in higher interest rate spreads above the RLLR. Always check your CIBIL score before applying and address any errors or overdue accounts before submitting the application.
Disclaimer: This calculator is an independent tool and is not affiliated with or endorsed by Bank of Baroda. Interest rates and eligibility criteria shown are examples only. Actual home loan terms depend on Bank of Baroda's prevailing RLLR-linked rates, your CIBIL score, income, and property type. PMAY CLSS benefits are subject to scheme availability and eligibility. Tax benefit information is based on current Income Tax Act provisions and may change. Always verify current rates at bankofbaroda.in before applying.