Baroda Property Pride

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.

Purpose

• Mortgage based credit facility to business entities

Eligibility

• 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.

Facility

Term Loan:

1. For Shop Development (not for purchase of shop):

   Purchase of equipment, Computer, Air-Conditioner, Furniture etc.

2. ‘Other than Shop Development’ i.e. for general business purposes:
   1. Purchase of Plant and machinery/ Equipment; Repair / renovation of factory land and building
   2. For augment / shoring up of net working capital
   3. 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

Limit:

Further increase in Maximum Limit is allowed, based on prior approvals.

Tenure:

1. Term Loan: Maximum 84 months, with moratorium period upto 6 months.
2. Overdraft-General: 12 months, subject to annual review.
3. Overdraft –Reducing: Maximum 84 months, subject to annual review

Competitive pricing linked to Repo rate/MCLR