Bank of Baroda- Baroda Traders Loan
Eligibility/ Purpose of Loan:
The Baroda Traders Loan facility enables individuals, proprietorships,
bodies such as partnership firms and Co-op societies to avail of working capital
or undertake development of shop by way of loan/overdraft. Dealers in gold/
silver jewelry are also covered under the scheme.
Facility:
Option to avail the credit facility as loan or overdraft.
Quantum of Loan:
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Minimum : Rs. 25,000/-
-
Maximum : Rs. 200 Lakhs.
Margin of Loan:
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40% on market value of immovable property.
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10% on Bank's own Fixed Deposits.
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15% on face value of NSCs, Govt. Bonds, surrender value of
LIC policies.
Security:
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Tangible collateral Securities in the form of mortgage of
land (not agricultural land) and building is acceptable as security.
-
National Savings Certificates, Government Bonds, our Bank's
Term Deposits, Assignment of Life Insurance Policies, standing in the name
of the borrower/ proprietor/ partner/ director are acceptable as security.
Rate of Interest:
Upto Rs.2/- Lakhs: sanctioned on or
after 01.04.09: 0.75% Above BPLR i.e. 12.75%.
Above Rs.2/- Lakhs: sanctioned on or
after 01.04.09:
Processing Fee:
Baroda Traders Loan ( Loan/ Overdraft) processing charge is 0.35
% for Minimum : Rs.1,000/- and Maximum : Rs.30,000/-
For more information: Website
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