Bank of Baroda presents an innovative loan offering for individuals seeking financial assistance for celebrating festivals/events, purchase of gifts and purchasing foodgrains etc. for the full year.

Key Benefits

• A Unique loan product specially designed to meet expenses for festival, purchase of gifts, purchasing of food grains, oil & other grocery items for the full year.
  
  
• No Penalty for pre-payment (Full/part).

Terms & Conditions

Eligilibilty :

• Permanent confirmed employees (minimum 1 year service) of central/State Govt/Autonomous Bodies/Public/Joint sector undertakings. Reputed Public Limited Companies / MNC's And Educational Institutions.
  
  
• Self Employed Professional (Doctors, Architects, Interior Designers, Engineers, Chartered Accountants, Technical and Management Consultants and Practicing company secretaries ONLY, With a Minimum 2 years stable business.)
  
  
• Any other person having income from vertifiable channels i.e. pension, Interest from NSCs/KVPs/fixed deposits in banks etc.
  (Non Residents are not eligible for this loan)
  
  
• This loan can be advanced for any use, except for purposes of speculation.
  
  

• 21 Years.
  
  

• Age of the borrower + Tenure of loan should be less than or equal to the retirement age for salaried persons and 65 years for self employed professionals.
  
  

• Minimum : Rs.5000.00
  
  
• Maximum : Rs.50,000.00
  (Subject to repaying capacity and income criteria)
  
  

• Rates of interest charged will be as per Bank's policy on the date of disbursement of loan. (For current interest rates click here).
  
  

• Penal Interest @2% P.A for non payment/delayed payment on overdue amount.
  
  

• Up to 10 months in Equated Monthly Installments.(EMI). Incase of salaried borrowers first instalment to commence from the date of salary after disbursement of the loan. Incase of others first instalment to commence one month after disbursement of the loan.

:: Salaried Individuals:


• Pasport size photograph.
  
  
• Residence Proof.
  
  
• Salary Certificate / Slip from employer.
  
  
• Form No.16 (Latest).
  
  
• Form No.135 of the bank, duly filed in by borrower and guarantor.
  
  
• Application forms meant for personal loan (Baroda Family Loan)
  
  

:: Self Employed Professionals:


• Pasport size photograph.
  
  
• Proof of official / Business address, which may include shop and establishment certificate / Lease deed / telephone bill.etc..
  
  
• IT returns & Finicial statement for the last two financial years.
  
  
• Copy of registration / Licence / Govt. approval required to persue the profession, if any.
  
  
• Proof of qualification (Certificate issued by the Concern University / Collage / Institute, Dept as the case may be).
  
  

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



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