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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.
Key Benefits
* Option to avail the credit facility as loan or overdraft.
* Advance available up to Rs. 200 Lacs.
* Loan can be repaid in a maximum period of 60 months.
Terms & Conditions
* The business units should have been established in the line of business for a minimum period of 2 years
* Loan limits
o Minimum : Rs. 25,000/-
o Maximum : Rs. 200 Lakhs
* Margin
o 40% on market value of immovable property.
o 10% on Bank's own Fixed Deposits.
o 15% on face value of NSCs, Govt. Bonds, surrender value of LIC policies.
* Security
o Tangible collateral Securities in the form of mortgage of land (not agricultural land) and building is acceptable as security
o 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: (CLICK HERE FOR CURRENT INTEREST RATES).
PROCESSING CHARGES: (CLICK HERE FOR DETAILS)
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