Baroda Mortgage Loan
Bank of Baroda brings to you an innovative combination of a loan and over draft facility with flexible repayment options against the security of your immovable property.
- Ideal use of idle property - Generate additional income from an otherwise idle property.
- Withdraw money as per your need and save on interest cost.
- Deposit surplus money / regular income / salary and save interest.
- Flexibility to withdraw money deposited earlier.
- Can be availed either as overdraft or demand loan as per your need.
Minimum : Rs. 2.00 lacs
- Maximum areas
- Rural areas: Rs.25 lacs
- Semi Urban Branches:Rs.3.00Crores
- Urban Branches: Rs.5.00 Crores
- Metro Branches: Rs.10. Crores
- Term Loan: -120-months
- Overdraft: -12- months
- Easy Documentation
- Mortgage loan from other banks can be taken over
Terms & Conditions
Salaried Employees / Professional, Self Employed & Other income tax assesses for last 3 years with a minimum gross annual income of Rs. 3,00,000/-
Age: Minimum 21 years
- GMI up to Rs.75,000/-: -30- times of GMI
- GMI>75,000/- to Rs.3.00 lacs: -48- times of GMI
- GMI>Rs.3.00 lacs: -60- times of GMI
- GAI up to Rs.5 Lacs: -5- times of GAI
- GAI > Rs.5 lacs to Rs.8 Lacs: -6- times of GAI
- GAI > Rs.8 Lacs: -8- times of GAI
- Interest Rate: (CLICK HERE FOR CURRENT INTEREST RATES).
- Repayment Capacity :
- GMI up to Rs.75, 000/- : 50%
- GMI up to Rs.75, 000/- to Rs.3.00 Lacs: 60%
- GMI above Rs.3.00 lacs: 70%
- Pre-payment Charges :
- Up to -12- months -2%
- More than -12- months: Nil
RATE OF INTEREST: (CLICK HERE FOR CURRENT INTEREST RATES).
PROCESSING CHARGES: (CLICK HERE FOR DETAILS)
- Income proof (Form 16 along with salary certificate from the employer)
- Professional / Self-employed
- I.T. returns for past 3 years
- Latest income tax assessment order (for overdraft amount of over Rs. 5 Lacs)
- Income certificate from appropriate revenue authority like Tehsilldar/BDO/SDO (for agriculturist)
- Original title deeds of the property offered for mortgage
- Paid receipt of latest maintenance, water tax, municipal tax and any such taxes.
- Non encumbrance letter from co-op society
- Permission to create Equitable Mortgage from society
- Last 6 months bank statements of main bank account
For more details, kindly visit a Bank of Baroda Branch nearest to you.
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