Bank of Baroda presents a product for NRIs known as "Baroda Advance against Property to NRIs" to cater their financial needs against their properties situated in India.
Salient Features Ideal use of idle property.
Margin: 40% of the market value of property.
Repayment of Loan: Maximum 60 EMIs
No prepayment charges.
Mortgage loan from other banks can be taken over
Terms & Conditions
Eligibility:
Non-Resident Indians (NRIs) holding Indian passport having a regular job abroad in a reputed Indian / foreign company, organization or government department.
Must be holding a valid job contract /work permit for minimum past 2 years or employed / self-employed or having a business unit and staying abroad at least for 2 years.
Age :
Minimum - 21 yearsMaximum - 60 years
Limit:
Minimum - Rs. 1 Lac
Maximum - Rs. 100 Lacs
Income Criteria:
Salaried: 30 times of monthly income (average)
Others: 3 times of average (last two years) annual income
RATE OF INTEREST: (CLICK HERE FOR CURRENT INTEREST RATES)
.PROCESSING CHARGES: (CLICK HERE FOR DETAILS)
For more details, kindly visit a Bank of Baroda Branch nearest to you.
Thursday, June 5, 2008
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