Baroda Traders Loan
loan for your business need

Baroda Traders Loan is for working capital requirement. Demand Loan for purchase of shop/ renovation/ purchase of equipments, furniture fitting, working capital purpose etc. This loan is also applicable for non-fund based facilities i.e. Bank Guarantee and Letter of Credit.

Facility:

Overdraft, Loan, Guarantee, AB/TR

Eligibility:

Traders who are engaged in trade of any commodity/ goods required by the community and trading in them that is not prohibited by law or opposed to public interest. The business units should have been established in the line of business for a minimum period of 2 years.

Margin/ Advance Value over Security:

35% on market value as per recent valuation report of immovable property (valuation carried out in the last one year can be accepted)
35% on market value of motor vehicles
10% on Bank’s own FDRs
15% on the surrender value of Life Insurance Policies

Maximum Limit:

Maximum limit is $200000
Working capitals limit up to 40% of the projected sales subject to verification of VAT returns of previous years/quarters or Advance value of collateral assets to be charged, whichever is lower.
Demand loan to be considered need based subject to a maximum of 50% of the projected sales or Advance value of securities to be charged, whichever is lower.
Working capital advance, Demand loan and Non fund based facilities together should not exceed advance value of collateral security or maximum amount under the scheme guidelines, whichever is less.
Repayment period up to 84 months in case of Demand Loan.
Property mortgaged/ vehicles to be insured comprehensively as per bank’s norms.

Other Information:

Motor vehicles registered within 6 years may be considered as security for the purpose of determining the advance value up to 20% of the total value of securities offered. However, if the motor vehicles registered are more than 6 years, the borrower may either replace by suitable value of security or the advance value may be recalculated without considering the motor vehicles beyond 6 years.
Borrowers to route the sales and all other transactions through their Overdraft/Current A/c (in case of loan) with the branch.
Wherever the property is acquired out of Demand Loan availed, the property is to be mortgaged to us.
In case of Demand Loan margin contribution of 25% is to be brought by the borrower
Obtaining of financial statements i.e., Balance Sheet and Profit & Loss A/c up to F$ 200,000 is dispensed with. However, declarations on annual sales supported by Returns/Assessment on VAT/ Income Tax etc. to be submitted.
Where the VAT returns are not required to be filed, financial statements for limits below F$200,000 to be obtained.
In case borrower intends to avail Demand Loan, total loan installments including the proposed installments not to exceed 80% of the projected Net Profit and Depreciation declared by them. The projected net profit should be in line with actual profits earned by the borrower.
In case of D/L, repayment to be commenced after one month of first disbursement
Valuation of the property is to be carried out every 4 years.
if the credit turnover in the account in the preceding month is not adequate to cover the interest debited, then interest debited be recovered separately.
Terms and Condition Apply

Fees and Charges

Establishment Fees
Upto $1,000.00	$25.00
From $1,001.00 to $2,500.00	$50.00
From $2,501.00 to $5,000.00	$75.00
From $5,001.00 to $10,000.00	$100.00
From $10,001.00 to $20,000.00	$200.00
From $20,001.00 to $200,000.00	1.00% of Loan Amount / OD Limit
Above $200,000.00	0.75% of Loan Amount / OD Limit (Minimum $2,000.00)

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)

Inspection Fees
Upto $1,500.00	Free
From $1,501.00 To $10,000.00	$40.00 per visit
From $10,001 To $25,000.00	$75.00 per visit
From $25,001.00 To $50,000.00	$100.00 per visit
From $50,001.00 To $100,000.00	$150.00 per visit
Above $100,000	$200.00 per visit

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

Settlement Fees
$75.00 per settlement

Search Fees
$30.00 subsequent $10.00 per hour

Data Bureau Charges
Individual Credit Information		$17.00
business Credit Information		$22.50

										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

Baroda Traders Loan

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Baroda Traders Loan loan for your business need

Baroda Traders Loan
loan for your business need