Baroda Loan To Business Correspondents

Purpose

• To purchase computer and its peripherals and also setting up or renovation of office.
• To meet working capital requirement for cash management and processing of day to day transactions through settlement account.
• Purchase of vehicle for visits to villages to perform BC activities

Eligibility

• Business Correspondents and Kiosk Operators who have valid agreement with service providers engaged by our bank for the purpose of providing banking services under financial inclusion.
• Age: 18 to 60 Years
• All vendors / suppliers (falling within SME Regulatory / Non Regulatory classification only) of Large Real Estate Developers to which program limits have been approved

Total Limit

Margin

• 10% of the total amount of loan sanctioned.

ROI

• Interest rate linked to Repo rate/MCLR

a)Guarantee Fee and Annual Service Charge:
b)ASF

• One time guarantee fee at specified rate a) 1.00% in the case up to Rs.5 lakh b) 0.75% in case up to to Rs.50 lakh sanctioned to units in North Eastern Region including State of Sikkim.
• The ASF at specified rate (currently 0.50%in the case up to Rs.5 lakh) on prorate basis for the first and last year and in full for intervening years.

Guarantee Scheme

• CGTMSE

Facility

• Demand Loan/TL, OD

Repayment period

• Demand Loan: maximum 36 EMI’s.
• Overdraft: Repayable on demand subject to annual review.
• Term Loan (Vehicle): Maximum 60 EMI’s.

Kindly visit to the nearest branch for further details