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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

Area

Demand Loan

OD(WC)

TL(vehicle loan)

Total

Rural and semi urban

75000/-

25000/-

50000/-

150000/-

Urban

115000/-

35000/-

50000/-

200000/-

Metro

150000/-

50000/-

50000/-

250000/-

Margin

  • 10% of the total amount of loan sanctioned.

ROI

  • Competitive interest rate linked to 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

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