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Baroda Property Pride

  • Overview
  • Terms and Conditions
  • Interest Rates and Charges

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:
Rural Semi-Urban Urban Metro
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.


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

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