Personal Loan EMI Calculator
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Loan Amount:
₹500000 -
Rate of Interest (%):
10.85 -
Loan Terms (monthly):
60 -
Equated Monthly Installment (EMI) will be
Baroda Loan to Pensioners
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Eligibility
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Interest rates & charges
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Documents Required
Baroda Loan to Pensioners : Eligibility
Purpose
For any purpose other than speculation.
Eligibility Borrowers
- Pensioners/ family pensioners drawing pension through our Bank’s branches.
- Pensioners who are getting their pension disbursed through Treasury/DPDO (Defence Pension Disbursing Office) directly to the credit of their savings accounts with our branches.
- Pensioners/ Family Pensioners of our Bank.
Family Pensioner: Spouse authorized to receive pension after the death of the pensioner.
Pensioner should be drawing pension through the branch for at least last -3- months and conduct of his/her account should be satisfactory i.e., no return of cheques for financial reasons.
Co-Applicant
Applications to be considered on individual basis only. Co-applicants not to be allowed.
Age
- Minimum: 21 years
- Maximum:75 years
Quantum of Finance
Limit is stipulated based on the classification of Pensioner.
Regular Pensioners:
- For age upto 70 years :Rs.8.00 Lacs
- For age above 70 years : Rs.5.00 Lacs
For Family pensioner:
- For age upto 70 years :Rs.3.00 Lacs
- For age above 70 years : Rs.1.50 Lacs
Specific Guidelines for Loan Eligibility:
Parameter | Condition |
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Repayment Capacity (FOIR) | Total monthly deductions including proposed EMI and EMIs of existing loans (if any) should not exceed 60% of monthly pension. |
Repayment Period | Regular Pensioners/Family Pensioners: For age upto 70 years :60 months For age above 70 years : 36 months |
Account Relationship | Pensioner should be drawing pension through the branch for at least last -3- months and his/her account should have been conducted satisfactorily. i.e., no return of cheques for financial reasons. |
Baroda Loan to Pensioners : Interest rates & charges
Rate of interest for Baroda Loan to Pensioners:
Product | Conditions | Repo Rate + Spread | Effective Rate of Interest | |
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Baroda Loan To Pensioners |
Repo Rate + SpreadBRLLR + SP + 2.60% |
Effective Rate of Interest11.95% |
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ConditionsFor Retired Bank of Baroda/their Family pensioners |
Repo Rate + SpreadBRLLR + SP + 0.60% |
Effective Rate of Interest9.95% |
Unified Processing Charges:
- Pensioners / Family Pensioners of our Bank: Nil
- Others: Rs.1,000/-+GST
Foreclosure charges:
- There are no foreclosure charges.
Penal interest:
- Penal interest @2% shall be levied on loan outstanding amount
Baroda Loan to Pensioners : Documents Required
- Completely filled loan application along with 3 passport sized photographs along with Form 135 giving details of Assets and Liabilities of the applicant.
- Proof of residence includes any of the following:
- Valid passport
- Voter id card
- Driving license
- Post-paid utility bill (gas bill and electricity bill)
- Updated passbook or bank account statement
- Registered rent agreement
- Proof of identity:
- PAN card
- Aadhar Card
- Valid Indian passport
- Voters ID card
- Driving license
- Employee ID card issued by relevant authorities like the Govt or Defence or reputed corporate
- Identity document or certificate of practice with photograph issued by professional bodies like ICAI, ICWA, ICFAI
- Details of Pension /PPO No. etc.