Baroda Personal Loan / Soft Loan

Bank of Baroda offers Personal Loan for your personal needs like

• Purchases of consumer durable like Television, Washing Machine, Refrigerator etc.
• Purchase of Personal Computer
• Meeting personal requirement like wedding, education, medical etc

Eligibility

All tax payer individuals who are having permanent employment for at least three years or registered with relevant authorities in case of Self Employed / small business.


Amount of loan

Secured Loan - In case of loan for purchase of consumer durable, personal computer the loan can be given up to 70% of purchase price with a maximum amount of $10,000.00

Unsecured Loan- Loan for any other purpose for which no acceptable security is available, maximum $2,000.00.


Margin / Contribution
   Secured Loan - 30%
   Unsecured Loan - Nil


Repayment Period
Secured Loan - can be repaid in maximum 48 monthly installments
Unsecured Loan - can be repaid in maximum 24 monthly installments


Other Information

• Supporting document for income is to be submitted along with application.
• comprehensive insurance to cover the item financed.
• Personal Guarantee from an individual acceptable to Bank
• Bill of Sale for Prime Security in favour of Bank wherever applicable.
• Repayment shall start from the subsequent month of loan disbursement as per agreed schedule.
• Terms and Conditions apply

Fees and Charges

Establishment Fees
Upto $1,000.00	$50.00
From $1,001.00 to $2,500.00	$100.00
From $2,501.00 to $5,000.00	$100.00
From $5,001.00 to $10,000.00	$200.00
From $10,001.00 to $20,000.00	$300.00
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 Fees
To be recoverred in the month of February and August every year
Irrespective of Amount	0.20% per month of remaining balance (Min. $10.00 per month)

Inspection Fees
Upto $1,500.00	Free
From $1,501.00 To $10,000.00	$50.00 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	$100.00
Additinal Document	$40.00 per document
(Solicitor charges + out of pocket expenses to be recoverred seperately)

Loan Arrear Fees
Upto $500.00	2% p.a. additional interest on the overdue amount with minimum of $25.00 per month
From $501.00 To $1,000.00	2% p.a. additional interest on the overdue amount with minimum of $25.00 per month
From $1,001.00 To $2,500.00	2% p.a. additional interest on the overdue amount with minimum of $25.00 per month
From $2,501.00 To $5,000.00	2% p.a. additional interest on the overdue amount with minimum of $25.00 per month
Above $5,000.00	2% p.a. additional interest on the overdue amount with minimum of $25.00 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/Unstamping Charges
$15.00 + out of pocket expenses

Document Discharge Fees
$100.00 per document

Settlement Fees
$150.00 per settlement

Search Fees
$30.00 subsequent $10.00 per hour

Data Bureau Charges
$17.00

										Duplicate Statement Fees
										$5.00 per page Computer Printout $7.50 per page statement

Establishment Fees
Upto $1,000.00	$50.00
From $1,001.00 to $2,500.00	$100.00
From $2,501.00 to $5,000.00	$100.00
From $5,001.00 to $10,000.00	$200.00
From $10,001.00 to $20,000.00	$300.00
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 Fees
To be recoverred in the month of February and August every year
Irrespective of Amount	0.20% per month of remaining balance (Min. $10.00 per month)

Inspection Fees
Upto $1,500.00	Free
From $1,501.00 To $10,000.00	$50.00 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	$100.00
Additinal Document	$40.00 per document
(Solicitor charges + out of pocket expenses to be recoverred seperately)

Loan Arrear Fees
Upto $500.00	2% p.a. additional interest on the overdue amount with minimum of $25.00 per month
From $501.00 To $1,000.00	2% p.a. additional interest on the overdue amount with minimum of $25.00 per month
From $1,001.00 To $2,500.00	2% p.a. additional interest on the overdue amount with minimum of $25.00 per month
From $2,501.00 To $5,000.00	2% p.a. additional interest on the overdue amount with minimum of $25.00 per month
Above $5,000.00	2% p.a. additional interest on the overdue amount with minimum of $25.00 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/Unstamping Charges
$15.00 + out of pocket expenses

Document Discharge Fees
$100.00 per document

Settlement Fees
$150.00 per settlement

Search Fees
$30.00 subsequent $10.00 per hour

Data Bureau Charges
$17.00

										Duplicate Statement Fees
										$5.00 per page Computer Printout $7.50 per page statement