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.

Key Benefits

• 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.
  
  

Salient Features

• Limit:
  
  Minimum : Rs. 1 lac
  
  
• Maximum areas
  
  
  • Rural areas: Rs. 5 Lacs
  • Other areas: Rs. 100 Lacs
  
  
• Repayment
  
  
  • Loan: Maximum 84 EMIs
  
  
• Easy Documentation
  
  
• Mortgage loan from other banks can be taken over

Terms & Conditions

Eligibility:

Salaried Employees / Professional, Self Employed & Other income tax assesses for last 3 years with a minimum gross annual income of Rs. 60000.

Age: Minimum 21 years

Income Criteria:

• Salaried: 36 times of net monthly income
• Others: 3.5 times of net annual income (average of last 3 years)

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

Documents Required:

• Salaried
  
  
  • 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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