Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
Bank of Baroda - Home Loan Bank of Baroda - Home Loan Minimum Salary: AED 10,000 Salary Transfer: No Early Settlement Fees: No Maximum Term: 20 Years Flat Rate: - Reducing Rate: 3.5%
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Home Loan products to suit every customers need

Salary Transfer not mandatory.

Flexible repayment periods for the Mortgage Loans.

Available to UAE / GCC Nationals and Indian  Expatriates Residing in UAE (both Salaried & Self Employed)

Simple documentation & Quick Processing

Life Insurance not mandatory

Attractive Rate of Interest - Fixed for -02- years and 3rd year onwards interest rate is linked to Emirates Interbank Offered Rate (EIBOR) and is reset Quarterly.

Interest charges on Daily Reducing Balance

Easy Top Up facility available


Eligibility
Residing in UAE for last 02 years, Business/ Job in UAE for last 02 years

Purpose of Loan
Purchase of New Flat / Self Construction / Reimbursement for property already purchased during last -01- year / Takeover from other banks

Age
Min - 21 Years
Max - For Salaried - 65- years including Loan tenure
For Business Class – 70- years including loan tenure

Income Criteria
For salaried employees: Monthly salary of at least AED 10,000/-
For self-employed borrowers and businessmen: Annual income of at least AED 200,000/-


Interest Rate
Initial 02 years fixed ROI - 3.50% p.a. and balance tenor variable linked with 03 M  EIBOR + 2.15% with minimum of 4.50%

DBR- Max. 50%
LTV- Up to max. 80%

** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years: This is the original term or length of the product, stated in years.
Effective Monthly Payment: This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%): The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
Representative Example Calculator
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