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Baroda Overdraft Against Land and Building

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.

PURPOSE :

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

ELIGIBILITY

  • Proprietorship, Partnership firms, Private/Public Ltd. Cos., engaged in Manufacturing and/or Service Sector of any commodity/goods and such activity is not prohibited by law or opposed to public interest established in the line of business for a minimum period of 2 years and financed/proposed to be financed under Sole Banking arrangement.

LIMIT :

  • Minimum : Rs. 15.00 Lakhs
    Maximum: Rs. 50.00 Lakhs (for Rural/Semi-urban branches)
                     Rs. 200.00 Lakhs (for Urban/Metro branches)

SECURITY :

  • Mortgage of factory land and building and/or any other property (Land & Building) belonging to promoters, viz. Directors, who will also stand as guarantors, Proprietor or Partners.

In case of residential/commercial building, age of property should not be more than 25 years.

MARGIN :

  • 40% of the market value of property mortgaged (valuation of the property will be carried out by the valuer on bank’s approved panel/Government approved valuer)

RATE OF INTEREST :

For Small Enterprises in Manufacturing & Service Sector 0.75% below Bank’s BPLR from time to time.
For Medium Enterprises in Manufacturing & Service Sector Bank’s BPLR from time to time

OTHER FEATURES :

  • Simplified assessment methods.
  • Submission of stock/book debts statements on half yearly basis.
  • Annual inspection of securities.
  • Non-fund based facilities allowed by earmarking Overdraft facility.
  • Valuation of properties once in 3 years.

To know the current interest rates Click here.



> Working Capital Finance > Term Finance > SSI > SME > Small Business Borrowers > Traders Loan




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