Bank of Baroda Mortgage Loan

Bank of Baroda Mortgage Loan Scheme

This loan helps borrowers get access to funds by mortgaging their property to meet their urgent financial needs. While a mortgage loan can be used to meet financial expenses such as a wedding, foreign travel, higher education and so on, it can also be used to consolidate your debts. The bank offers this loan to salaried applicants with a minimum continuous service of three years and self-employed professionals who have experience or practice of at least three years. This loan cannot be availed for speculative reasons.

Features of Mortgage Loan from Bank of Baroda

Why this Loan?

  • The Bank of Baroda Mortgage Loan is meant for borrowers who need assistance to meet financial needs other than for speculative purposes
  • Being a secured loan, borrowers can avail this scheme as a consolidation loan and pay off their high-interest credit card debts and loans, thereby consolidating their debts
  • It can be availed as an overdraft (for resident Indians only), a demand loan or a term loan

Loan Amount

  • The minimum loan amount sanctioned by the bank under this loan is Rs. 2 lakh
  • The maximum loan amount offered under this loan scheme is Rs. 10 crore in metro areas, Rs. 5 crore in urban areas, Rs. 3 crores in semi-urban areas and Rs. 25 lakh in rural areas


  • The applicable interest rate on this loan is defined as the sum of three factors namely, Baroda Repo Linked Lending Rate (BRLLR), Strategic Premium (SP) and Credit Risk Premium
  • The interest rate applicable on this loan ranges from BRLLR + SP + 0.95% to BRLLR + SP + 6.15% depending on various factors such as the credit rating of the borrower, loan amount, tenure of the loan, etc.


  • Term Loan: This loan must be repaid within 10 years
  • Overdraft: It must be repaid within 12 months and can be renewed on an annual basis after review


  • Salaried, professionals, self-employed professionals and business owners who have been employed or engaged in business for at least the past 3 years
  • Hindu Undivided Families (HUFs), Trusts and Public Limited Companies are not eligible for this loan
  • Non-Resident Indians (NRIs) holding an Indian passport and regular employment, self-employment activity or business for at least the last 2 years in a foreign country and another 2-year contract or work permit can also avail this loan
  • The minimum gross annual income of the last three years of the applicant (and co-applicants, if any) should be at least Rs. 5 lakh

Security Needed

  • The bank accepts mortgage of immovable properties including residential property, commercial property and plot of land other than agricultural land

Margin Money (Borrowers Contribution to Total Cost)

  • The bank charges 40% of the realisable value of immovable property as margin for this loan

Note: Margin money refers to the amount the borrower contributes to the overall amount required. The bank will cover the rest. So, if the total amount needed is Rs. 20 lakh, a 20% margin means you will have to contribute Rs. 4 lakh. The bank will provide the balance of Rs. 16 lakh.

Processing Charges

  • The bank charges up to 1% of the loan amount for processing the loan

Documents Needed for Individuals (Salaried and Self-employed)

  • Loan Application Form duly filled and signed by the applicant and co-applicant, if any
  • Two Passport Size Photographs of applicant and co-applicant
  • Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
  • Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
  • Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income/Banking Proof for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns
  • Income/Banking Proof for Self-employed Professionals/Insurance Agents: Computation of income of last 2 years, Balance Sheet, Profit and Loss Account, Registration Certificate, GST Return, Income Tax Challan / Form 26AS / TDS Certificate, IT Assessment, etc.

Documents Needed for Proprietorship and Partnership Firms

  • Loan Application Form duly filled and signed
  • Partnership Deed and Partnership Registration Certificate
  • ID Proof of the Firm: Firm PAN Card or PAN Issuing Letter
  • Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income Proof: CMA Data and Project Report, Debtors and Creditors Certificate, GST Return, Last 3 years ITR of applicant and co-applicant, Audited or CA Certified Computation of Income/Trading Account/Profit and Loss Account/Balance Sheet, Annual Audit Report and Tax Audit Report if audited, Form 16A if applicable, Net Worth of applicants, co-applicants and guarantors
  • Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
  • Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
  • Other Relevant Documents: Partnership’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References

Reference Facts

  • Bank of Baroda Website: and (net banking)
  • Headquarters: Baroda (Vadodara), Gujarat
  • Call Centre Toll-Free Number: 1800 223 344, 1800 102 4455