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:

• Minimum : Rs. 25,000/-

• Maximum : Rs. 200 Lakhs.

Margin of Loan: 

• 40% on market value of immovable property.

• 10% on Bank's own Fixed Deposits.

• 15% on face value of NSCs, Govt. Bonds, surrender value of LIC policies.

Security:

• 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: 

• OD and loans upto 1 year: 1.25% Above BPLR i.e. 13.25%.

• Loans more than 1 year: 1.50% Above BPLR i.e. 13.50%.

Processing Fee:

Baroda Traders Loan ( Loan/ Overdraft) processing charge is 0.35 % for Minimum : Rs.1,000/- and Maximum : Rs.30,000/-

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