Mortgage Loan

Coming Soon

Individuals (Resident/Non-Resident Indians)

Resident Indians

• Salaried/professionals/self-employed/business persons/agriculturists employed/engaged in business/profession for a minimum period of 3 years. Break in service can be considered for a maximum period of 3 months.
• Minimum Gross Annual Income (average of last 3 years) should be Rs. 3 lakhs including co-applicants whose income is considered for eligibility of limit.

Non-Resident Indians (NRIs)

• Any NRI holding valid Indian Passport, and having regular employment/self-employed/business for a minimum period of 2 years and holding a valid job-contract/work-permit for minimum 2 years in a foreign country.
• Minimum Gross Annual Income (average of last 3 years) should be Rs. 5 lakhs including co-applicants whose income is considered for eligibility of limit.

Purpose

For any purpose except for financial speculation of any nature (Persons engaged in property development/property dealings/brokers, share/stock brokers and persons engaged in any speculative activity not eligible under the scheme)

HUF/Trust/Public limited company are not eligible under the scheme

Rate of Interest:

Service Charges (Excluding GST) w.e.f. 20/06/2019:

TL: 1%

• Minimum: Rs. 8,500 (upfront) per property

Maximum: Rs. 1,50,000

OD:

• Up to Rs. 3 crores: 0.35%
• Minimum: Rs. 8,500 (upfront) per property
• Maximum: Rs. 75,000


• Above Rs. 3 crores: 0.25%
• Minimum: Rs. 8,500 (upfront) per property
• Maximum: No limit

Not available

Target Group

Individuals (Resident/Non-Resident Indians)

Purpose

For any purpose except for financial speculation of any nature (Persons engaged in property development/property dealings/brokers, share/stock brokers and persons engaged in any speculative activity not eligible under the scheme).

Eligibility

Individuals (Resident/Non-Resident Indians)

Resident Indians

• Salaried/professionals/self-employed/business persons/agriculturists employed/engaged in business/profession for a minimum period of 3 years. Break in service can be considered for a maximum period of 3 months).
• Minimum Gross Annual Income (average of last 3 years) should be Rs. 3 lakhs including co-applicants whose income is considered for eligibility of limit.

Non-Resident Indians

• Any NRI, holding valid Indian Passport, and having regular employment/self-employed/ business for a minimum period of 2 years and holding a valid job-contract/work-permit for minimum 2 years in a foreign country.
• Minimum Gross Annual Income (average of last 3 years) should be Rs. 5 lakhs including co-applicants whose income is considered for eligibility of limit.

HUF/Trust/Public limited company are not eligible under the scheme

Type of facility

• Term loan/demand loan/overdraft
• NRIs will be granted term loan/demand loan only

Margin

40% on Realizable Value of immovable properties

Security

Mortgage of immovable properties:

• Residential property (House/flat)
• Commercial property (Building/land & building)
• Plot of land (not agricultural land)

Limit

Minimum: Rs. 2 lakhs

Maximum: (For all category of borrowers):

• Metro branches: Rs. 10 crores
• Urban branches: Rs. 5 crores
• Semi-Urban branches: Rs. 3 crores
• Rural branches: Rs. 25 lakhs

Repayment Period

Term loan: 120 months

Overdraft: 12 months; Subject to Annual Review

Repayment Capacity:

For all category of borrowers

• GMI up to Rs. 75,000: 50%
• GMI above Rs. 75,000 to Rs. 3 lakhs: 60%
• GMI above Rs.3 lakhs: 70%

Unified Processing Charges

The unified processing charges, which includes processing charges, documentation charges, document verification/vetting charges, pre-inspection (Contact Point Verification-CPV) charges, one-time post inspection charges, advocate charges for legal opinion, valuer charges for valuation (one-time at the time of sanction), bureau report charges, CERSAI charges, ITR verification charges, to be levied as detailed below.

For Term Loan

• 1% of the loan amount with maximum Rs. 1,50,000
• Minimum: Rs. 7,500 (upfront)**. Balance amount of processing charges will be
• recovered at the time of conveying sanction.

For Overdraft

• Up to Rs. 3 crores: 0.35% of limit with maximum: Rs. 75,000
• Above Rs. 3crores: 0.25% of the limit without any maximum

Minimum

Rs. 7,500 (upfront)**. The balance amount of processing charges will be recovered at the time of conveying sanction.

** The above upfront charges are considered if only one property is offered as security. If two or more properties are offered as security, Rs. 7,500 per additional property would be applicable as upfront charges in addition to minimum upfront charges as mentioned above (subject to overall stipulated maximum processing charges).

Inspection

Bank will have the right to inspect the borrower’s property at all times. From 2nd post-sanction inspection onwards Rs. 100 plus GST per inspection to be charged from borrower.

Legal Opinion & Valuation Charges

Title of the property proposed to be purchased is to be clear, absolutely unencumbered and marketable to the satisfaction of the Bank’s solicitor/advocate. Title verification and valuation of the property will be done by the empanelled advocate/valuer of the Bank.

In case of limit above Rs. 1 crore, 2nd valuation of the property also to be obtained and to be satisfied upon. The lower of the 2 valuations to be considered while calculating the limit.

Insurance

Insurance of the property taken as security as per the valuation report for full value excluding the cost of land. The charges to be borne by borrower(s).

Mortgage Creations Charges

As per the Bank’s extant guideline applicable.

Other Expenses

Like stamp duty for execution of documents, registration charges varying from state to state and other related charges/expenses for the loan shall be borne by the borrower.

Credit Information Report

Bank is authorised to make enquiries from any of the Credit Information Bureau and get the Credit Information Reports. Bank is also authorised to disclose from time to time any information relating to the loan to any Credit Bureau approved by Govt. of India or Reserve Bank of India without any notice to the borrower.

Commitment Charges

In all the overdraft limits sanctioned under Baroda Mortgage Loan, the minimum quarterly average utilisation of sanctioned limits should be 60%. In case of quarterly average utilization of sanction limit is less thon 60% of the sanction limit, commitment charges to be levied @ 0.50% p.a. of entire unutilized portion on quarterly basis and no commitment charges in case quarterly average utilization is 60% or more