BARODA-ADVANCE AGAINST PROPERTY

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 incomeyears)

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.