BOB
Housing Finance
Ltd is considered
a leader in
the field
of housing
finance in
India. It
is a subsidiary
of Bank of
Baroda. The
company was
created by
the Bank of
Baroda and
National Housing
Bank in 1990.
However, in
2006 BOB Housing
Finance Ltd
became the
wholly owned
subsidiary
of Bank of
Baroda.
Nandan M.
Srivastava,
Retail Banking
on behalf
of the Bank
of Baroda
Housing Loan
reported a
reduction
of up to 50
basis points
rate mortgage.
New loans
will be sanctioned
with effect
from 1 September,
2007 fall
into this
deduction.
According
to Mr. Srivastava
deduction
rate is mainly
to stay ahead
of its peers
and offer
competitive
rates to its
customers.
BOB Housing
Finance Ltd.
has declared
the new rate
structure:
In the fixed
rate option
the new rates
are 11.25
- 12.50 %
for loan amount
up to Rs 20
Lac for tenure
of 5 - 15
years. For
a loan amount
above Rs 20
Lac the rates
will be 11.50
- 12.75 %.
The revised
rates for
floating option
are 10 - 11
% for tenure
of 5 - 25
years on a
loan of Rs
20 lakh.
For loans
above Rs 20
Lac, the rates
will be between
10.25 - 11.50
%.
BOB Housing
offers loans
for:
Constructing
houses by
individuals.
Repairing
and renovating
old houses.
The company
offers loans
to individuals
from Government
bodies, housing
boards etc.
The maximum
loan can be
up to Rs 1
Crore. The
company finances
85 % of the
purchase price
of the land.
The company
also offers
loans to buy
non-residential
properties
by individuals.
The loan amount
can be up
to Rs 20 Lac.
Professionals
above 3 years
of experience
can apply
for the loan.
BOB Housing
Finance Ltd.
has significantly
contributed
in the home
loan sector
in India.
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