Terms & Conditions
- 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.
- In case of purchase of vehicles,
- 100% cost of the cycle rickshaw, handcarts, fishing boats etc. and animal drawn vehicles.
- For new trucks, taxis and auto rickshaw not to exceed 75% of the invoice price of chassis including initial insurance, taxes etc., plus body building charges, taxi / auto rickshaw meters and other incidental charges.
- In case of second hand vehicles, higher margin at 40% to 50% depending on the merits of each case.
- For repairs, purchase of spares etc.: amount of finance will be 75% of cost of repairs or cost of spares etc.
Click Here to view the current interest rates
Click Here to view the service charges
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
