The bridge to success
Loans with low processing charges from BoB
Interest Rates & Charges
Most Important Terms & Conditions
- Ideal use of idle property – Generate additional income from an otherwise idle property.
- Withdraw money as per your need and save on interest cost.
- Deposit surplus money / regular income / salary and save interest.
- Flexibility to withdraw money deposited earlier.
- Can be availed either as overdraft or demand loan as per your need.
- Competitive rate of Interest
Resident Individuals, Sole trader firm, Limited Company.
- Rate of Interest
- Processing Charges
For any purpose except for financial speculation of any nature
ELIGIBILITY RESIDENT INDIVIDUALS
- Salaried/ Professionals/ self-employed/ Business persons/ Agriculturists employed/ engaged in business/ profession for a minimum period of 2 years.
- Minimum Gross Annual Income (average of Last 2 years) should be SCR 200000 including co-applicants whose income is considered for eligibility of limit.
- Should be in the present line of activity for at least -1- year
- Should be profit making.
TYPE OF FACILITY
Term Loan/ Demand Loan / Overdraft
40% on Realizable Value of immovable properties
Mortgage of Immovable Properties:
- Residential Property (House / Flat)
- Commercial property (Building / Land & Building)
- Plot of Land
Minimum: SCR 50,000
Maximum: SCR 2 Million
Term Loan: 120- Months
Overdraft: 12- Months; Subject to Annual Review
REPAYMENT CAPACITY: (FOR ALL CATEGORY BORROWERS)For All category of borrowers, total deductions including proposed EMI should not exceed 60% of Gross monthly income.
Bank will have the right to inspect the borrower’s property at all times.
LEGAL OPINION & VALUATION CHARGES
Title of the property proposed to be purchased is to be clear, absolutely unencumbered and marketable to the satisfaction of the Bank’s solicitor/ advocate. Title verification and Valuation of the property will be done by the empaneled advocate/ valuer of the Bank.
Insurance of the property taken as security as per the valuation report for full value excluding cost of land. The charges to be borne by borrower/s.
RATE OF INTEREST & CHARGES
- Interest Rates & Charges
- Processing Charges
- Remittance Facility
- Foreign Exchange
- Locker Facility
- Debit card
- Baroda Mpassbook
- Internet Banking
- Standing Instructions facility