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  • Most Important Terms and Conditions (MITC)

Baroda Top Up Loan for NRI/PIOs Eligibility

Existing home loan borrowers whose conduct of the account is good.

Baroda Top Up Loan for NRI/PIOs Most Important Terms and Conditions (MITC)

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 lakh


Maximum Rs. 2 crores


Repayment Period

Maximum period up to 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 lakhs: 65%


GMI Rs. 2 lakhs and above but less than Rs. 5 lakhs: 70%


GMI Rs. 5 lakhs and above: 75%


Others

Average Gross Annual Income (For last 2 years) up to Rs. 6 lakhs: 70%


Average Gross Annual Income (For last 2 years) more than Rs. 6 lakhs: 80%


Margin Norms & Loan to Value (LTV) Ratio
Outstanding Home Loan + Proposed Top Up Loan (Based on Realizable Value)
LTV Ratio (HL + Top- Up) Margin
Up to Rs. 30 lakhs 90% 10%
Above Rs. 30 lakhs and up to Rs. 75 lakhs 80% 20%
Above Rs. 75 lakhs 75% 25% 75% 25%

Age

Minimum Age: 21 years (applicant)


18 years (co-applicant)

Maximum Age: Maximum can be considered up to 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

Top up -Unified Processing Charges :

  • 0.35% of the Loan amount
  • Minimum: Rs.5,000/- (upfront)
  • Maximum: Rs.12,500/- plus GST

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