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Baroda Traders Gold Card Scheme

 “BARODA TRADERS GOLD CARD SCHEME” provides additional  limit to the extent of 20% of the sanctioned limit under Baroda Trader Loan  or 70% of realizable market value of immovable property (including realizable market value set aside for sanctioning of regular Baroda Traders Loan Limit), whichever is lower.

Purpose

To meet the emergent working capital requirement arising due to peak season requirements, delayed payments by debtors, for tax payment, etc.

Nature of facility

Overdraft

Eligibility

Individuals, Proprietorship & Partnership Firms, Private Limited Companies and Registered Co-operative Societies engaged in trade of any commodity/goods and have been sanctioned overdraft facility under Baroda Traders Loan Scheme above Rs. 25 Lacs and fulfilling the following criteria;

  1. Existing account in Standard Asset Category for last 2 years

  2. No major inspection irregularity in the account

Credit Rating

  1. Minimum BTL – 4  for limit up to Rs. 200/- Lacs including proposed limit under Baroda Traders Gold Card.

  2. Obligor Rating of minimum BOB-4 for limit above Rs. 200/- Lacs.

Limit

Assessment of  limit:

The credit limit is to be considered as under:

20% of the sanctioned  Baroda Trader Limit        

OR                        

70% of realizable market value of immovable property (including realizable market value set aside for sanctioning of regular Baroda Traders Limit), whichever is lower.

Security

Extension of equitable mortgage of property/ies mortgaged

Margin

Nil

Rate of interest

50 bps over applicable ROI to Baroda Traders Loan Overdraft facility

Processing charges

Unified processing charges @ 0.35% + service tax

Period

12 Months - to be allowed on 3 occasions in a year for a maximum period of 2 months on each occasion. However, there should be gap of 1 month between two drawls

 

RATE OF INTEREST: (CLICK HERE FOR CURRENT INTEREST RATES).
PROCESSING CHARGES: (CLICK HERE FOR DETAILS)

For further details, please contact the Bank of Baroda Branch nearest to you.



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