Baroda Loan / Overdraft against Insurance Policy


Purpose

Baroda Loan / Overdraft against Insurance Policy is available for any purpose other than financial speculation of any type against the assignment of insurance policy.


Type of Facility

Any of the following facility can be availed:
  1. Overdraft : For day to day transactions
  2. Demand Loan : Lump sum Loan Amount repayable in periodical installments.


Eligibility
  1. All Fiji citizen individuals who have attained the age of 21 years.
  2. Business concern which include Proprietorship firms, Partnership firms or Limited liabilities companies which have been incorporated in Fiji.
  3. Total deduction should not exceed 60% of  Income (net to statuary deduction and taxes).

Loan Amount


Loan Amount
Minimum $1,000.00
Maximum $250,000.00


Margin

Overdraft - 20% of latest net Surrender Value of Insurance Policy
Demand Loan - 10% of latest net Surrender Value of Insurance Policy


Repayment Period

Loan can be within sixty months after the date of first disbursement.

Terms and Conditions apply


Fees and Charges
Establishment Fees
1.00% of Loan Amount
Credit Service Fees
To be recovered in the month of February and August every year
Upto $1,500.00 $30.00 Half Yearly
From $1,501.00 to $5,000.00 $85.00 Half Yearly
From $5,001.00 to $10,000.00 $120.00 Half Yearly
From $10,001.00 to $30,000.00 $210.00 Half Yearly
From $30,001.00 to $50,000.00 $400.00 Half Yearly
From $50,001.00 to $70,000.00 $550.00 Half Yearly
From $70,001.00 to $90,000.00 $700.00 Half Yearly
From $90,001.00 to $100,000.00 $775.00 Half Yearly
From $100,001.00 to $200,000.00 $1,400.00 Half Yearly
Above $200,000.00 0.75 % of Loan Amount / OD Limit Half Yearly
(Minimum $1,500.00  and Maximum %4,500.00)
Security Document Handling Fees
Upto $1,000.00 Free
Above $1,000.00
One Document $60.00
Additinal Document $25.00 per document
(Solicitor charges + out of pocket expenses to be recoverred seperately)
Excess Fees Charges
Upto $5,000.00 $25.00 per visit
From $5,001 To $10,000.00 $50.00 per visit
From $10,001.00 To $25,000.00 $100.00 per visit
Above $25,000 1.00% of excess / Adhoc per occassion
Loan Arrear Fees
Upto $500.00 $5.00 for earch installment per month
From $501.00 To $1,000.00 $10.00 for earch installment per month
From $1,001.00 To $2,500.00 $15.00 for earch installment per month
From $2,501.00 To $5,000.00 $20.00 for earch installment per month
Above $5,000.00 $25.00 for earch installment per month
Opinion Fees
Local $25.00 + Out of Pocket Expenses
Overseas $50.00 + Out of Poecket Expenses
Modification in Terms and Conditions
For each modification $100.00
Stamping Charges
$15.00 + out of pocket expenses
Document Discharge Fees
 $75.00 per document   
Assignment Charges
For each Assignment $15.00 + out of Pocket Expenses + Actual Stamp Duty and Assignment Charges
Settlement Fees
$75.00 per settlement
Search Fees
$30.00 subsequent $10.00 per hour
                    Cheque Book Charges            
                              $2.00 per fifty leaves book plus stamp duty as applicable
(For Current and Overdraft Accounts)
 
Stop Payment Charges 
$10. 00 per instrument
                    Duplicate Statement Fees            
                    $2.00 per page Computer Printout
$7.50 per page statement
           
                               
                               
                    Cheque Holding Charges            
                              $15.00 per instrument per working day  
Dishonour Cheque Charges 
Outward-$25 per instrument
                    Cash Handling Charges              
                    Total cash deposit below $5000 (per day)           Nil  
                    Total cash deposit $5000 & above (per day)           0.50% of total cash deposit  

© 2013 Bank of Baroda, Fiji Territory, GPO. Box.57, Suva, Fiji Islands.