Baroda Overdraft against land and building is a unique product for financing working capital requirements/long term margin requirements of SME borrowers against the security of unencumbered land and building belonging to the unit or Promoters of the unit, or, close relatives of the promoters.

PURPOSE :

• To provide hassle free credit to SME borrowers to meet working capital requirements/augment long term margin requirements.

ELIGIBILITY

• All Enterprises, i.e. Micro, Small & Medium Enterprises, as defined under MSMED Act, 2006, and other entities with annual sales turnover of Rs. 1/- crore to Rs. 150/- crores exclusively banking with our bank/new borrowers desirous of having sole banking arrangement with our bank.

LIMIT :

• Minimum :Rs. 25.00 lacs (for Rural/Semi-Urban/Urban/Metro branches)
• Maximum: Rs. 50.00 lacs (for Rural branches)
                      Rs. 200.00 lacs (for Semi-urban branches)
                      Rs. 500.00 lacs (for Urban & Metro branches)

SECURITY :

1. Mortgage of factory land and building and/or any other property (Land & Building) belonging to the unit, promoters of the unit, or close relatives of the promoters, (viz. father, mother, wife, son and daughter only provided they stand as guarantors).

Note : In case of residential/commercial building, age of property should not be more than 25 years at the time of sanction).

2. Personal guarantees of all Promoter Directors/owners of property.
3. Third party guarantee, if available.
4. Charge on unencumbered personal properties of the Promoter Directors, if available.
5. Hypothecation of stocks/book debts.

MARGIN :