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Know Your Bank |
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Bank of Baroda
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About |
| It all started with a visionary Maharaja's uncanny foresight into the future of trade and enterprising in his country. On 20th July 1908, under the Companies Act of 1897, and with a paid up capital of Rs 10 Lacs started the legend that has now translated into a strong, trustworthy financial body, THE BANK OF BARODA.
It has been a wisely orchestrated growth, involving corporate wisdom, social pride and the vision of helping others grow, and growing itself in turn.
The founder, Maharaja Sayajirao Gaekwad, with his insight into the future, saw "a bank of this nature will prove a beneficial agency for lending, transmission, and deposit of money and will be a powerful factor in the development of art, industries and commerce of the State and adjoining territories."
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Interest Rates and Processing Fee |
Base Rate 8%
Below 30 Lacs 9.00%
Above 30 Lacs 9.75%.
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Tenure |
| Min 1 Year - Max 25 Years |
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Features |
Home Improvement loan - 10.50%
Mortgage Loans - 14.50%
Income Criteria:
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Monthly Income |
Modified Criteria |
| Up to Rs. 20,000/- |
36 times of monthly income |
| More than Rs.20,000/- & up to Rs. 1 lac |
48 times of monthly income |
| More than Rs. 1 lac |
54 times of monthly income |
Margin:
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Monthly income |
Purpose |
Margin |
| Upto Rs.20000/- |
Purchase of plot |
20% |
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House/flat already constructed from own resources |
25% |
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All other cases |
20% |
| Above Rs.20,000/- |
Purchase of plot |
20% |
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House/flat already constructed from own resources |
20% |
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All other cases |
15% |
1. Loans to all types of products and needs with minimum documentation.
2. Free property and personal accidental Insurance.
3. Advance up to 90% of the principal amount of home loan repaid for any requirement.
4. Free Credit Card - "Paras" card (Complimentary for first year) to all new home loan borrowers with loan limit of Rs. 2/- Lakhs and above.
5. No pre-payment or part payment penalities if paid from own sources.
6. Felxi rate option for comfort EMI's.
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2008 CNDS. All rights reserved.
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