Baroda Home Suvidha Personal Loans
“Baroda Home Suvidha Personal Loan” for financing the miscellaneous costs related with the purchase of home like cost of insurances, registration costs, stamp duty, goods & service tax and club membership fee
Eligibility:
- Prospective borrowers for Baroda Home Loans including takeover
- Existing borrowers under Baroda Home Loan Scheme
Purpose:
Category - A
- Group Credit Life Insurance premium (For the products offered by M/s Indiafirst Life Insurance Company Limited or any other insurance company having tie up with our Bank)
- Group Credit Health Insurance premium (For the products offered by Max Bupa Health Insurance Co. Ltd. / Tata AIG General Insurance Co. or any other insurance company having tie up with our Bank)
- Property insurance premium (From Tata AIG General Insurance Co. Ltd., Cholamandalam MS General Insurance Company & National Insurance Company Limited or any other insurance company having tie up with our Bank)
Category – B
- Stamp Duty & Registration charges at the time of purchase of residential property
- Goods & Service Tax (if applicable)
- Club Membership Charges (only at the time of purchase of house)
The reimbursement is allowed only within -12- months from the date of payment of such cost and end use must be ensured in respect of all the above finance
Margin:
Category – A
Nil i.e. 100% finance can be availed by the applicants against category A expenses
Category - B
25% Margin on the eligible costs i.e. 75% finance can be availed by the applicants against category B expenses
Repayment Period:
In case of fresh/ takeover of linked Home Loans
Maximum repayment period to be allowed in the same line as applicable for Home Loan sanctioned/ proposed to the borrower.
In case of existing linked Home Loans
Maximum repayment period allowed will be the residual period of existing Home Loan to the borrower.
Rate of Interest:
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ROI Linked with Bureau Score Home Loan
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ROI not Linked with Bureau Score
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One year MCLR to One year MCLR +1.00% (As per Risk Rating of the applicant/s.)
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Applicable ROI on Home Loan + 0.25%
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*Reset Clause:-
Security:
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Amount of Baroda Home Suvidha Personal Loan
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Condition of Mortgage
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Category A
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Undertaking to create extension of mortgage to be obtained
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Category B
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Extension of mortgage to be created
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Unified Processing Charges: Nil (Stamp paper charges/ notary charges or any other out of pocket expenses will be borne by the applicants)
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