The Traders Loan facility enables individuals, Proprietorships, bodies such as Partnership firms and Co-op societies to create working capital or undertake development of shop by way of loan/overdraft.
Key Benefits
- Avail of loans up to Rs. 25 Lakhs/- for a maximum EMI of 60 months.
- Loans available at any of our branches.
Terms & Conditions
- The business units should have been established in the line of business for a minimum period of 2 years
- Loan limits
- Minimum : Rs. 25,000/-
- Maximum : Rs.25 Lakhs
- The following margins are applicable.
- 50% on market value of immovable property as per recent valuation report.
- 50% on approved shares/bonds.
- 10% on Bank's own FDRs.
- 15% on the surrender value of Life Insurance Policies, NSCs, Govt. Bonds.
- Tangible collateral Securities in the form of mortgage of land (not agricultural land) and building will have to be provided as security.
- National Savings Certificates, Government Bonds, our Bank's Term Deposits, Assignment of Life Insurance Policies, approved shares & bonds standing in the name of the borrower/proprietor/partner/director only, are also acceptable as security.
- The repayment period of the loan is a maximum of 60 EMI's (subject to repayment capacity).
- Rate of interest up to Rs 2 Lakhs will be as per RBI directives.
- For Overdraft Account and loans repayable within 12 months 2% over relevant Short Term Prime Lending (SBPLR- II) rates will be applicable.
- For loans repayable in more than 12 months 2% over relevant Term Prime Lending (BPLR) Rate will be applicable. Click here for current interest rates.
For further details, please contact the Bank of Baroda Branch nearest to you.
> Working Capital Finance
> Term Finance
> SSI
> SME
> Small Business Borrowers
> Traders Loan
