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Baroda Ashray (Reverse Mortgage Loan)


For supplementing the cash flow stream of senior citizens in order to address their financial needs.


  • Should be Senior Citizen of India, above 60 years of age.

  • Married couples will be eligible as joint borrowers provided one of them is above 60 years of age and age of spouse is not below 55 years at the time of application.

  • Should be the owner of a residential property (house or flat) located in India in his/her own name.
Residential property should be used as permanent primary residence (fully self occupied property).

The Commercial property will not be taken as a security under the product.

Maximum Amount:

The maximum loan amount inclusive of interest for entire tenure of the loan shall be restricted to Rs. 1 crore subject to value of the property.

Option to adjust payments:

The Bank shall have the option to revise periodic annuity amount, if lump-sum payment is taken or at the interval of every 5 years based on valuation of the property.

Repayment of Loan:

The loan shall become due and payable when the last surviving borrower dies or would like to sell the home / permanently moves out of the home for aged care to an institution or relatives. The loan will, as such, become due for recovery and payable.

  • Settlement of loan, along with accumulated interest, to be met by the proceeds received out of sale of residential property.

  • The borrower(s) or his/her/their estate shall be provided with the first right to settle the loan along with accumulated interest, without sale of property. A reasonable period of 2 months may be provided when repayment is triggered, for house to be sold.

Rate of interest:




Simple / Equitable mortgage of the Residential property.


15 years. The tenure may further be extended till survival of the borrower/s subject to advance value of the property.


Insurance of the residential property mortgaged to the bank shall be regularly taken. The premium charges are to be borne by borrower.

The product is available at selected branches. Please click here for details of branches.

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