Baroda Top-Up Loan is an Additional Loan facility extended to Home Loan Borrowers for any purpose except speculative/illegal purpose.
The Top-Up Loan facility is granted against the security of extension of Mortgage of House Property already mortgaged to secure Home Loans and can be availed to a maximum of 5 times during the entire tenure of Home Loan.
Existing Home Loan Borrowers whose conduct of the account is good
Purpose
- Any purpose excluding speculative or illegal purpose
To know Rate of Interest Click here
To know Processing Charges Click here
Target Group
Existing Home Loan Borrowers whose conduct of the account is good
Eligibility of Borrower/s
Existing Home Loan Borrowers whose conduct of the account is good
Purpose of Loan
Any purpose excluding speculative or illegal purpose
Limit: Maximum Limit
Minimum Rs.1 Lac
Maximum Rs.2 Crores
Repayment Period
Maximum period upto the remaining period of Home Loan.
Repayment Capacity
Total deductions including proposed EMI should not exceed as follows
Salaried Persons
GMI less than Rs.20, 000/- 50%
GMI Rs.20, 000/- and above but less than Rs.50, 000 - 60%
GMI Rs.50, 000/- and above but less than Rs.2.00 lacs - 65%
GMI Rs.2.00 lacs and above but less than Rs.5.00 lacs - 70%
GMI Rs.5lacs and above - 75%
Others
Average Gross Annual Income (For last -2- years) up to Rs.6 lacs : 70%
Average Gross Annual Income (For last -2- years) more than Rs.6 lacs : 80%
Margin Norms & Loan to Value (LTV) Ratio
| Outstanding Home Loan + Proposed Top Up Loan |
(Based onRealizable Value) |
| LTV Ratio(HL + Top- Up) |
Margin |
| UptoRs.30.00 Lakhs |
90% |
10% |
| Above Rs. 30.00Lakhs &upto Rs.75.00 Lakhs |
80% |
20% |
| Above Rs. 75.00 Lakhs |
75% |
25% |
Age
Minimum Age : 21 years (applicant)
18 years (co-applicant)
Maximum Age : Maximum can be considered upto 70 Years *
Security
Extension of the existing mortgage of the Residential property created to secure the Home Loan.
Pre Closure Charges
Nil
Rate of Interest
Applicable ROI on Home Loan +Strategic Premium+0.50%
Unified Processing Charges
The unified processing charges include
- Processing Charges
- Documentation charges
- Document Verification/ vetting charges
- Pre- sanction Inspection (Contact Point Verification-CPV) charges
- One-time post inspection charges
- Advocate charges for legal opinion
- Valuer charges for valuation
- Bureau report charges
- CERSAI charges
- ITR Verification charges
To know the Processing charges Click here