Terms & Conditions

• Those who conduct any business / profession independently with or without hired labour such as persons in the medical profession, lawyers, engineers, contractors, consultants, electricians, hair dressers, handicrafts artisans, etc., are eligible.
  
  
• To avail of a loan, a DP note, with letter of hypothecation of equipment with the mortgage of business premises has to be submitted to the bank.
  
  
• The upper limit of the loan is Rs. 5 Lakhs for businessmen and professionals out of which the working capital should not exceed Rs. 1 Lakh.
  
  
• For professionally qualified medical practitioners setting up practice in semi-urban and / or rural areas: Limit of Rs.10 Lakhs with sub-limit not exceeding Rs. 2 Lakhs for working capital.
  
  
• The rates of interest applicable to this product are as follows:
  
  
  • Up to Rs. 2 Lakhs: bank's Prime Lending Rate.
    
    
  • Above Rs. 2 Lakhs: Interest rates apply at Prime Lending Rate + - Maximum Band of 4% p.a. with quarterly rests.
    
    
• The processing and documentation charges to be levied will be as under:
  
  

  Processing Charges	(only once at the time of sanction)
  	Upto Rs. 2 Lacs	0.5% - Min.Rs. 250/-
  	Above Rs. 2 Lacs & upto Rs.1Crore	0.25% - Min.Rs.1,000/-
  Documentation Charges	Upto Rs.25,000/-	Nil
  	Above Rs.25,000/- & upto Rs.2 Lacs	Rs.150/-
  	Above Rs.2 Lacs & upto Rs.5 Lacs	Rs.1,000/-
  	Above Rs.5 Lacs & upto Rs.20 Lacs	Rs.1,500/-

To know the current interest rates Click here.

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