BOB Housing Finance Limited was set up in
December, 1990 by Bank of Baroda in association with National
Housing Bank. The company became a wholly owned subsidiary of Bank
of Baroda since March 31, 2006.
BOB Housing provides loan for purchase of residential plots/site
by individuals from Govt./statutory bodies such as housing boards,
Development Authorities/CIDCO etc. The maximum loan amount can be
up to Rs. 10000000 and the loan finances 85% of the cost/purchase
price of the land.
BOB offers loans for purchase/construction/extension of
non-residential property by professionals / businessmen. The loan
amount can be up to Rs. 20 Lacs or 85% of purchase price / cost of
construction. All professionals/businessmen in operation with
minimum of 3 yrs. experience are eligible for the loan.
BOB provides loans for purchase or construction of new/old houses
by individuals. The maximum loan amount can be 85% of cost of
construction, Rs. 1crore or 42 times of gross salary for salaried
employees, whichever is least. The age of applicant's can't be
more than 65 years.
BOB Home Improvement Loans are meant for repairs and renovation of
existing house. The maximum loan amount can be 85% of cost of
repairs / renovation or Rs.5,00,000, whichever is less. The upper
age limit for applicants is 70 years.