Whether it's a microwave oven, a refrigerator or a home theatre system, consumer durables have constantly been improving our lifestyle and adding convenience to our daily routines. Whatever your specific requirement and budget, Bank of Baroda's Special Loans for Consumer Durables enable you to enrich your life and provide for a better lifestyle.
- Loans tailor-made for consumer durables that specifically meet your requirement.
- Avail of up to Rs 1 Lakh for any kind of product.
Key Benefits
- All resident Indians, salaried, professionals, self-employed, businessmen and farmers can apply for this loan.
- Finance for a minimum of Rs. 5000/- and a maximum of Rs. 1 Lakh (or five times of the monthly income, whichever is less) can be availed of through the loan.
- The loan amount can be repaid in maximum 60 months from the date of disbursement of loan.
- The interest charged will be 15.75% (fixed). A concession of 0.5% in interest rate only to borrowers of Home Loan Scheme of Bank. For more details on the interest rate structure, Click here.
- A margin of 10% can be availed on loan amount.
- Service charges of 1% of the entire loan amount will apply (minimum of Rs. 100/-).
- As security against the loan, the durables are hypothecated to the bank.
- In case of the loan exceeding Rs. 50000/-, the Bank will require a third party guarantee and other securities like NSC, Share certificates, etc or a mortgage of property owned.
For further details, please contact the Bank of Baroda Branch nearest to you.
> Housing Loan
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> Baroda Ashray (Reverse Mortgage Loan)
