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Baroda Property Pride
Terms and Conditions
Interest Rates and Charges
Baroda Property Pride : Overview
The Baroda Property Pride provides need based funding to individuals/units engaged in the trade of any commodity/goods in physical form required by the community and trading in them is not prohibited by law or opposed to public interest.
Baroda Property Pride : Terms and Conditions
- Mortgage based credit facility to business entities
- The business units should be making cash profit for the last 2 years.
- Units having less than -2- year’s establishment can also be considered subject to prior approvals.
- Borrowers to comply with the Licensing requirement for the business.
- For Shop Development (not for purchase of shop):
Purchase of equipment, Computer, Air-Conditioner, Furniture etc.
- ‘Other than Shop Development’ i.e. for general business purposes:
- Purchase of Plant and machinery/ Equipment; Repair / renovation of factory land and building
- For augment / shoring up of net working capital
- To repay high cost debt of existing MSME Term Loan of other Banks/ FI / NBFC except unsecured loan from other sources.
Working capital requirements: Overdraft – General , Overdraft Reducing The borrowers shall be free from the hassles of monthly submission of Stock statement. The Stock Statement to be obtained once a year i.e. as of last day of February, by 10th of March every year.
Non-fund based facilities : Letter of Credit , Bank Guarantee
|Minimum||Rs.2 lacs||Rs.2 lacs||Rs.5 lacs||Rs.5 lacs|
|Maximum||Rs.1 Crore||Rs. 5 Crore||Rs. 10 Crore||Rs. 15 Crore|
Further increase in Maximum Limit is allowed, based on prior approvals.
- Term Loan: Maximum 84 months, with moratorium period upto 6 months.
- Overdraft-General: 12 months, subject to annual review.
- Overdraft –Reducing: Maximum 84 months, subject to annual review
Baroda Property Pride : Interest Rates and Charges
Competitive pricing linked to Repo rate/MCLR