Gist of RL Edition_Oct'2012
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Transcript of Gist of RL Edition_Oct'2012
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Retail Loan products of our Bank at a glanceUpdated up 31.10.2012
1. BARODA HOME LOAN
Updated by S.M. Mathur, Chief Manager 1
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Retail Loan products of our Bank at a glanceUpdated up 31.10.2012
Updated by S.M. Mathur, Chief Manager
Product/Purpose
Eligibility Margin Rate of Interest
Repayment RemarksUSPs(In red ink)
Housing LoantoResidents:
i) Purchase ofnew house/flatii) purchaseof Old houseiii) Purchase ofPlot &construction
thereon.iv) Take over ofHL taken fromany otherBank/FIV) Other**
(i)
Salaried:
MonthlyIncome
EligibleAmt.
Upto
20000/-
36timesofMI
ForSalaried
Class:
If
MonthlyIncome
>
`
20000/-
Plot/Ownsources
-20%
AllOthercase
s
-20%
%
No fixed rateoption.
FloatingratesAs perAnnexure-I**
Max.2
5yrs
Includingmoratoriumo
f18months
Repayingcapacity:
onthlyIncome)Totaldeductionsnottoexceed
On line application. Sanction in -6- days.Age: Principle Borrower 21 yr. Joint Borrower-18yr. Max.60/65yrs **Purchaseof house/flat or Construction made from own sources (Not prior to 24 months)from own sources is also covered under the scheme. Processing: up to `30 lac
0.50% Min. ` 5000 Above `30lacs-0.40% Min.`15000/- +ST Max. ` 50000. Iffor Plot, Construction may be made within 3 yrs from date of Purchase.Moratorium 18 months.If Old house Should not be older than 25 yrs.Free Personal accident Insurance. Personal accident cover may be extended toco-borrower by paying additional premium of 25% for each co-borrower. Lifeinsurance cover for Natural death is also availableto borrower/Jt. Borrower on
payment of appropriate Premium under tie-up arrangement with Kotak Mahindra(wef 1.1.10) & India First Life Insurance Co (wef 1.9.10). Premium amt forobtaining cover can be financed as part of home loan at request of borrower &accordingly EMI is fixed.Take over charges @0.10% of loan amount No Max.Pre-closure charges: Nil wef 15.12.11 (BCC:BR:103/350 dated 14.12.2011Housing loan borrowers are eligible for 0.5% concession in rate of interest onloan for consumer durables.Staff may also avail HL under Public Scheme with 0.25% concession in rate ofinterest. Staff & relatives to staff in scale IV & above may be sanctioned HL underPublic scheme, by zonal heads with full power (Previously 25 lac) BCC:BR:103:173 dated 23.06.2011Project Cost includes 1.Cost of plot/flat/Readymade House,2. Registration Charges & 3. Cost of Stamps for loans up to Rs. 20 lac(BCC:BR104:55 dated 7.02.2012)
2
@.%
ofproject
cost*
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Retail Loan products of our Bank at a glanceUpdated up 31.10.2012
Master circular on Home loan : BCC:BR:102:26 dated 28.01.2010, Limit increase BCC:BR:103/210 dated 21.07.11
1% interest subvention is available on HL up to 15 Lac (Where cost of house does not exceed Rs. 25 lac) on HL sanctioned on or after01.04.2011 (BCC: BR:103:103 dated 30.04.2011)
**Concession of 0.25% to 1.50% in rate of interest and 100% waiver of processing charges during Campaign period 01.10.12 to3011.12.see annuexure I-c Free Property Insurance has been withdrawn w.e.f 10.09.2012 (BCC:BR:104:317 dated 10.09.2012)
Product/Purpose
Eligibility Margin Rate of Interest Repayment RemarksUSPs (In red ink)
Housing loanto NRIs/PIOs
Salaried-48 timesof MI (Average of 2yrs), Prof./ Buss.-4times of AAI (avg of2 yrs.)
(i) for Purchase of
new/old house &construction Min.`5 lacs & Max. `300lacs at U/M centres
(ii) For purchase ofPlot Max.`50 lacs,
(iii) For Repair/Renovation Min.`1 lac & Max. `25 L
(i)forPurchase ofnew/oldhouse &construction
20%(ii) for
purchase ofPlot 20%
(iii) forRepair/Renovation 20%
As perAnnexure-I
Max. 15 yrs. Subject torepay. capacity.
Total deductions not toexceed 60%.
Moratorium (i) for construction 1
month after completion or
12 months (ii) forPurchase of new/old house-1 month after takingpossession or 3 monthsafter date of 1st
disbursement whichever isearlier
Eligibility: NRI holding Indian Passport orPOI holding foreignpassport. Principal borrower shouldbe having regular job abroad in a reputed Indian/fgn. Co. & hasvalid job contract/work permit for minimum. Period of 2yrs. If selfemployed/ businessman having a stable business and stayingabroad at least for 2 yrs.. Age minimum 21 yrs, Co-borrower min. 18yrs. Age of the borrower + repayment period not to exceed
retirement age or 65 yrs whichever is earlier. Must have minimum AIof` 5 lac p.a- Free personal accident insurance & Property Insurance,repayment in INR from local sources/ relatives in India. NILcharges for pre-closure/ pre-payment. (BCC:BR:103.330 dated23.11.2011)
AdditionalAssuredAdvance(AAA)Resident/
NRIs / PIOs
90% Of Principleamt. repaid. Min.`25000/- May besanctioned for max 5occasions subj- ect
to gap of 1 mbetween close of lasta/c and nextsanction.
10% onprincipalamountrepaid.
Base Rate+1.50%
By EMI as per requestof borrower subject torepaying capacity,however max. periodshould not exceed
residual period of homeloan
Age+tenor of loan not to exceed 65yrs. Processing Up to ` 30 lac- 0.50% Min ` 5000, > ` 30 lac 0.40% Min. ` 15000, Max. `50000/-+ST Security: Extension of mortgage & third party guarantee ifstipulated in Home Loan.For NRI/PIOs gap of one month between two occassions is not
required.
Updated by S.M. Mathur, Chief Manager 3
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2.
BARODAAUTOLOANS
Updated by S.M. Mathur, Chief Manager
For HomeImprovement
2time
sofGAIor
3timesofNAI(averageoflast3y
rs)subjectto
10lacs,ofwhichforfunniture/fixture
M
ax.
5lacs.
25%(includingstamp dutypayable for
creation ofEM)
Base Rate +2.50%
10 yrs EMISubject toRepaying capacity.
Moratorium 6 month
Age Min.21yrs. Max. 60/65 yrsProcessing-0.50%+ST upfront fee 0.25% of loan (One time),Extention of Equitable mortgage.No charges for pre inspection as it are part of processing.
Product/Purpose
Eligibility Margin Rate of Interest
Repayment RemarksUSPs(In red ink)
TwoWheelerLoan
5 times of GMI,OR Max. `1 lac.Which ever islower subject torepayingcapacity.
10% oninvoicevalue
Base Rate +4%
60EMI12 PDC betaken.
Age-Min.- 21 yrs, Max.- Retirement age(Salarid) & 65 yrs in case of others.Road Price means= Invoice price+Registration +Insurance. ProcessingCharges TW - 2% of loan amt. Min. `250/- +ST. Car Loans -Up to `15 lac-0.75% Max. ` 10000/-+ST > `15 lac -0.50% Min. `10000/-+ST, No Max.Insurance: Comprehensive with Bank Clause. Age ofSecond hand carnotmore than 3yrs, Installation of CNG/LPG in New/2nd hand car not more than 5yrs. Maximum deductions not to exceed 60%.
Concession of0.25% in interest rate on car loans is available to allour existing home loan borroweres having a good track record of
repayment, without any overdue in a/c 0.50% concession in rate of interest on car loan if liquid security like
pledge of FDR, NSC, KVP, LIC is provided for 50% or above amount ofsanctioned limit. (BCC:BR:103:27 dated 25.01.2011)
Life Insurance cover is available with Kotak LI & IFLI at the cost ofborrower which may be refunded by Bank and is recoverable with EMIsof loan (BCC:BR:104:62 dated 14.02.2012)
Car LoanNew/Old
24 times of GMI(salaried) or 3times of GAI(Av)(other) Max.NewCar`15lac2nd hand-`10lacGaskit-`25000/-
15% ofRoadprice forNew Car40% forOld Car.15% forGasKit
Loans of tenor
upto 5 yrsBase Rate +2.50% * **Loans of tenorover 5 yrsBase Rate +3.00% * (irresp-
ective of amt.)
New Car-84EMIOld Car-36EMIGas Kit-24EMI
Baroda Carloan toHNI/corporates
24 times of GMIor 3 times of GAI(Av) Max. `100lac
20% ofcost ofvehicle +Registration+Insurance
Up to 5 yrsBR+2.50%>5 yearsBase Rate +3..00% *
84 EMI12 PDC to betaken
HNI means minimum monthly salary 1.25 lac and carry home salary should be atleast40%. Corporate with min. tangible NW 10 times of loan amount requested.
Personal Guarantee of Promoters/3rd party having sufficient NW
Now no minimum amount of car loan to corporate. (Previously Min. over`15
lacs)
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** Concession of 1.50% to 1.75% in rate of interest and 100% waiver of processing charges during Campaign period 01.10.12 to 30.11.12See annexure I c
3. BARODA EDUCATION LOAN:
Updated by S.M. Mathur, Chief Manager 5
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Retail Loan products of our Bank at a glanceUpdated up 31.10.2012
** Concessional interest rates for students seeking admission in Indian School of Business, Hyderabad & Symbiosis, Pune (BCC:104/86 dt. 5.3.12)
4. BARODA MORTGAGE LOANS:
Updated by S.M. Mathur, Chief Manager
Product/Purpose
Eligible amount Margin Rate of Interest
Repayment RemarksUSPs (In red ink)
Baroda Vidya Max. ` 4 Lac.(For all stages)
Nil Up to ` 4 lacBase Rate+
2.50% (Simple)
Above `4 lacUp to 7.50 lacBase Rate+4%
Above 7.50 lacBase rate+3.50%
1% conces.for GirlStudent
12 EMIDue 12 m after 1st
dis-bursement
3 stages(i)Nursery-5th class, (ii) 6th-8th class & (iii) 9th-12th classs. Loan in the name ofFather/MotherNo Processing & Documentation charges No Security
Baroda Gyan(Study in India
Max. `10 lac Up to `4 lac-Nil,
Above `4 lac-5%(for study inIndia),15%(for studies
Abroad)
Max. ** inst tocommen ce one yrafter compl ofCourse or 6months aftergetting job, whichever is earlier.
Security : upto `4 lac.- Nil Above `4 lacs-`7.5 lac-Third party Guarantee. Above `7.5lac-100%Collataral security. For studies in India No Processing & Documentation chargeshowever for studies abroad@1% to be recovered upfront which shall be refunded ifapplicant avails loan. 1% rebate if interest is serviced regularly. Kotak life Insurance(wef 1.12.08) cover up to `20 lac. EL >10 lac - Processing 1% (to be refunded afteravailment of loan. Application can be made On line application.Master cir. On Edu. Loan -BCC:BR:100:101 dated 12.04.2008Teacher training course/Nursing course/B.Ed will be eligible, provided training institutesare approved by State or Central government and lead to Degree or Diploma and not acertificate course. BCC:BR:102:108 dated 12.04.10** 120 instalments for loans up to 7.50 lac, 180 instalments for loans >7.50 lacs.BCC:BR:103/343 dated 30.11.2011.
Baroda Scolar(Study abroad
Max. 20 lac
loan for careerDevelopment
Max. `10 lac(For studies inIndia) `20 Lacs(For studies abroad)
15%(Any Scholarship etc will notbe included)
Base Rate+4.75%
60 EMICourse period+6month+3month
loan for career DevelopmentFor Graduation/Post Graduation/Diploma Processing/Documentation-0.5% of loanamount., Security : 100% collateral or 3rd Party Guarantee.
Baroda EL forVocationalEducation &trainingLA 182
For course durationup to3 m.- 20000/->3-6 m.-50000/->6m-1yr-75000/-> 1yr-150000/-
Nil Base Rate +2% (1%interestconcession forGirl student)
Courses up to 1yr-60m> 1yr.-84m
Came in to effect from 1st July2012Eligibility: Have secured admission in a course approved/supported by aMinistry/Deptt./Organisation of the Govt. or a company/Society/Organisation supported byNational Skill Development Corporation or state Skill Mission/State Skill corporationsleading to a Certificate/Diploma/Degree etc by Govt. Organisation or an organizationrecognized/ authorised by Govt. to do so.Other T/Cs same. For more details Pl. refer - BCC:BR:104:233 dated 30.06.12
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5. BARODA PERSONAL LOAN
Updated by S.M. Mathur, Chief Manager
Product/Purpose
Eligible amount Margin Rate of Interest
Repayment RemarksUSPs (In red ink)
AdvanceagainstProperty toResidents/NRI/PIOs
Overdraft/Term loan
30times GMI or 3 timesof Avg.AI (last 3 yrs)Min. `1 lac, Max. `100 lacs ,`5 lac in Rural branches.Income of all joint owners ofproperty be clubbed and madeco-borrower
w.e.f. 01.06.0950% of marketvalue orDistress valuewhichever islower of prop-erty to bemortgaged.No power toallow deviationup to zonalheads.(BCC:BR:101:150 dated26.05.09
BaseRate+5.25%
2%p.a.(Penal)on overdueamount
T/L Max 84monthsOD 12 monthSubject toannual review.
OD facilityshould beassessed as perguidelines of T/L(BCC:BR:104:364 dated17.10.12)
Eligibility: Salaried /Professional/ Self employed & others who are incometax assesse for last 3 yrsMinimum Gross annual Income ` 60000/- NRI holding Indian Passporthaving a regular job or valid job contract for min. past 2 yrs. Min. GAI `5lacs. Staying abroad for at least 2 yrsAge 21 yr. Max. Age 60 yrs(customers age+tenure of loan/ overdraft notto exceed 65 yrs.NRIs are not eligible for OD limit (BCC:BR:104:364 dated 17.10.12)Total deductions not to exceed 60% of GI.UnifiedProcessing Charges : Loan1% Min. ` 1000 Max.` 50000.OD limit (Fresh/Renewal) up to 1 crore -0.35% Min. `1000-+ST Max.25000/- In case of OD limit > 1 UPC on prorate basis. (BCC:364 dt.17.10)
Age of building not to exceed 25 yrs. Security: EM of residential/ commercialproperty/plot, Third party guarantee if over`10 lac.
Activity clearance from higher authority before considering any new or reviewwith increase proposal, under Baroda Mortgage Products wef 17.08.09.(BCC:BR:101:242 dated 10.08.09)
Loan toProfessionals
20% of Avg, annual businessturnover/Professional receiptsMax.` 25 lac
15%cash margin forBG
BaseRate+5.25%
OD-1 yr sub. Toreview.Loan 5yrs
Tangible security in the form of FDR/LIC/NSC/KVP Or Mortgage.Processing-0.35%, Max. `10000/-+ST
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6. BARODA TRADERS LOAN:
Updated by S.M. Mathur, Chief Manager
Product/Purpose
Eligible amount Margin Rate of Interest
Repayment
RemarksUSPs (In red ink)
Eligible amount Margin Rate of Interest Repayment RemarksUSPs (In red Ink)
20% of Projectedaccepted annual Turnover (Reasonablelooking to past trend) or
Advance value ofsecurity which ever islower-Min.`25000/-Max.` 200 lacs
10% OurBanks FDR15% NSC/LIC.40% onrealizablemarket valueof immovableproperty
Base Rate +3% OD-1 yr subjectto review.Loan 5yrs
Established in line of business for min.2 yrs(HUF & Public limited co.s are not eligible)For W/c & Development of shop upto 25% of W/C. Above 25 lac
Audited Balance sheet & Credit rating is must. Evidences of Incomeand Cash flow should be obtained and properly examined..Marketreport about borrower be obtained and properly examined.
An undertaking to exclusively deal with our Bank should be obtainedand insisted upon.Processing 0.35% of limit. Min. `1000/- No Max.Below ` 25 lacs are to be rated under BOBRAM model for Retailloans under secured loan module and ` 25 lac & above are to berated under CRISIL-Traders module at the time of fresh sanction aswell as review.
Against Security of Gold Ornaments /Jwellery20% of theprojected annualturnover or 75%
of the marketvalue of the goldornamentsassessed byBanks approvedvaluer. Min..`50,000/-Max.` 2 lacs
25% onthepresent
marketvalue ofthe GoldOrnamentsassessedby theBanksapprovedassayer.
Base Rate plus3%
Loan : max.60 monthsOverdrafts :
12 monthssubject toannualreview
Unified Processing Charges: 0.50% of loan limitminimum Rs.250/- plus service tax. AssayersCharges @250/- per
lac - to be borne by the borrower.*** Loan amountRs. 1930 per gram for 22 carat purity (keeping25%margin) with a provision of reduction invaluation by Rs.88 per gram for every carat reduction.BCC:BR:104/251 dated 11.07.2012
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7. BARODA LOAN TO DOCTORS:
8. BARODA ASHRAY:
Updated by S.M. Mathur, Chief Manager
EligibleAmount
Margin Rate of Interest Repayment RemarksUSPs(In red ink)
Min. `50000/-Mx. R/SU `15lac of which
w/c `1lac,U/Metro `50 lacsof which w/c `3lac.
Up to `5lac 25%Above 5lac 15%of cost ofProject
W/C- Nil
Up to `2 lac-.BR+3.00%Above 2 lacs-BR+2.50%
> `25 lac-Credit rating
D/L T/L 60 EMIOD 12 months subject to annual
review
Processing Charges 0.35% Max. `15000/-Security: upto`5 lacs Nil, Third Party guarantee with worth equal toloan amt. Security Margin on Immovable property 40%,NSC/KVP/GB/LIC 15% , our Banks FDR 10%
Above `5 lac.- Tangible Collateral security.For DL/TL repaying capacity- Min.DSCR 1.25, For loan amount `5 lac &above-established for min. 3 years
Eligible amount Margin Rate of Interest Repayment RemarksUSPs
Max. `1 croreAmount disbursed asannuity-monthly, qtlyhfly or annually. If
Lumsum-not to exceed10% of total loan amt.
20% onPresentMarketValue
No Fixed rateoption.
Floating rate
Base rate+1.75%
Tenure 15 yrs. May be extendedtill survival of borrower/s. Lifeexpectancy taken as 80yrs
For Senior Citizens Age-60yrs Joint borrower( Spouse) notbelow 55 yrs. Ex-staff also eligibleRight to Rescission 7 business days.Fore-closure on violation. Processing 0. 20% Max.10000/-
(One time). Security Simple/EM of property. Age of buildingnot to exceed 40 yrs. Valuation of property every 5 yrs.
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Minimum Interest clause on all fresh retail loans as well as existing, withdrawn with immediate effect. (BCC:BR:103:13
dated 10.01.2011)
9. Loan against security of NSC/KVP/LIC/Relief/Govt. Bonds etc
10. BARODA ADVANCE AGAINST GOLD JEWELLARY/ ORNAMENT (At Metro/Urban Branches headed by min.Scale-III)
Updated by S.M. Mathur, Chief Manager
Eligible Amount Margin Rate of Interest ** Repayment RemarksUSPs
Min. D/L `3000/-OD `20000/-Max : Public-Noupper limit.Staff- 5 times ofGross Income& against NSConly
if residual maturityperiod is 3yrs-20%For LIC -15% ofsurrender value.Staff : 10% of facevalue
Loan:Base Rate + 3.50%or 0.5%over NSC/KVP intt rate.OD: Base Rate + 4%or 0.75% overNSC/ KVP intt. Which ever ishigher.Against LIC Loan Base Rate + 3.50 %OD- Base Rate + 4% In case ofstaffROI is 0.5% above NSC rate.
Weighted average method isapplied if securities on differentinterest rates.(BCC:BR:100:223 dt. 11.08.08)
OD: 12 Months subject toreview.Loan: Option I- 35 EMI or within maturityperiod whichever less.II : till maturity of secu. Subjectto provision that margin will be20% in that case.Against LIC Repay 60m
Age : 21 yrsProcessing:`100/- flat plus out of pocket expenses andactual conyence charges. Processing charges NIL forstaff.Security: Noting of lien/assignment.Insurance policies of Pvt.. accepted**Concession in rate of interest on loans/overdraftsagainst NSC/KVP/RB/LIC is available as under:
Loans Overdraft
< `1 Crore 2% over BR 2.5% over BR> ` 1 Crore 1.75% over
BR2% over BR
cir. BCC:BR:102:188 dated 09.07.10Interest on LABOD to third party-(i) < `1 core 2% over deposit rate or BR+3.5%(ii) > `1 crore 2.25% over deposit rate or BR+ 3.50%which ever is higher.
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11. BARODA LOAN AGAINST FUTURE RENT RECEIVABLES (BCC:BR:102:143 dated 24.05.2010)
Updated by S.M. Mathur, Chief Manager
EligibleAmount
Margin Rate of Interest Repayment RemarksUSPs
Min. `0.25 lac
Max. `10.00lac
25% on value of
GoldOrnaments/Jewellery,carried out bybanksapproved valuer.
Base Rate
plus 4.00
*As per Cir.BCC:BR:104/83Dated 3.3.12
TL Max. 36
months*** LoanamountRs.1930* pergram for 22 caratpurity (keeping25%margin) witha provision ofreduction invaluation by Rs.88* per gram for
every caratreduction.
Security: Pledge of minimum 22 carat /Hallmark
Gold Jewellery. shall be valued by banks approvedgold valuer/assayer in the Branch Premises inpresence of Branch Manager /Officer and theborrower concerned and a certificate of valuationalong with complete details of quality and quantityof securities of Gold Ornaments/Jewellery shall be kept on record. Insurance:Adequate- at the cost of borrower. UnifiedProcessing Charges: 0.50% plus service tax.Assayers Charges @ `250/- per lac - Min . `250/- ,Max `1500/- per assaying - to be borne by
the borrower. ***
Product/Purpose
Eligible amount Margin Rate of Interest
Repayment Remarks/USPs
UnderNoncommercialreal estate
60% of rent (Net of TDS,advance rent. SD) due &receivable subject to min.`25 lac & max. `200crore(Single) `500 crore (groupborrower)
40% Base Rate +6.00%
EMI, formax. 10yrs or unexpiredcertain period oflease whicheveris less. Commencement 1 monthafter disbursment
Security: Up to `5 lacs- assignement of future rent & 3rd partyguarantee. > `5 lac- mortgage of leased property+any otheracceptable security value of which should be atleast 1.15 timesof loan amount, Tripartite agreement. Processing: up to `10crore -0.10% of loan amount max `1 lac. >`10 crore 0.10%,max. `20 lac. Upfront fee: 0.5%, max. `50 lac
Undercommercialreal estate
55% of rent (Net of TDS,advance rent, SD) due &receivable subject ot min.`25 lac & max. `200crore(single) & `250 crore
(group borrower)
45% Base Rate +6.00%
EMI, for max. 10yrs or unexpiredcertain period oflease & uncertain period oflease, whicheveris less. Commencement 1 monthafter disbursment
Security: Up to `5 lacs- assignement of future rent & 3rd partyguarantee. > `5 lac- mortgage of leased property+any otheracceptable security value of which should be atleast 1.25 timesof loan amount, Tripartite agreement. Processing: up to `10crore -0.50% of loan amount max `5 lac. > `10 crore 0.5%,
max. `50 lac. Upfront fee: 0.5%, max. `50 lac
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Historical Data of Base Rates / BPLRs of Bank of Baroda
Effective Date Base Rate Effective Date BPLR
01-07-2010 8.00 01-07-2010 12.00
05-10-2010 8.50 06-08-2010 12.50
13-12-2010 9.00 13-12-2010 13.25
04-02-2011 9.50 04-02-2011 13.75
06-05-2011 10.00 06-05-2011 14.25
12-07-2011 10.25 12-07-2011 14.50
01-08-2011 10.75 01-08-2011 15.00
01-05-2012 10.50 01-05-2012 14.75
Annexure: I -a
CHECK LIST FOR HOUSING LOANDocuments Required
Application form duly filled+1. Pan Card Copy and ID2. 2 Passport size Photos (For applicants &Guarantors)3. Residential Proof (Voter ID/P.P./D.L./Ration Card)4. 3 months latest salary slips with sign and seal from
employer.5. Statement of 6 months operative bank accounts and salaryaccount statement.6. LIC / Insurance Xerox.7. Passport Xerox.
19. (a) `4000/- cheque favoring Bank of Baroda for legal andvaluation etc. charges (upfront).(b) Processing fee 0.35% (upto `20.00 lacs) and
0.40% (For above `20.00 lacs) plus service tax with amaximum of`15000/- (upfront) (50% Refund, if sanction is
not availed).20. No. pre-payment and bulk payment charges forprepayment from own sources.21. Free property and personal accident insurance.FOR TAKEOVER OF HOUSING LOANS:-
Updated by S.M. Mathur, Chief Manager 12
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8. Other bank loan details / statement.9. Three years IT returns and Form -16 issued by employer.10. If applicant is a businessman 3 years of IT returns withfinancials statements duly audited.
11. Property papers and complete chain of previous titledeeds.12. Latest Tax Paid Receipt13. Non Encumbrance Certificate for 30 years. If allotted byDevelopment Authority, update Non Encumbrance Certificatefrom the date of allotment.14. Sale Agreement / Construction Agreement.15. Approved plan copy.16.If construction is to be undertaking detailed estimate fromthe engineer.17. Sale deed Registration should be as per sale Agreementvalue18. Mortgage Charges as applicable in the particular State.
Additional Documents for Take Over from Present Bank:a) Fore -closure Letter.b) Copy of sanction Letter for Housing Loanc) Statement of Housing Loan from the Beginning
d) List of Documents / Details of Title deeds held by thepresent bank.Note: Original Address Proof / IT Returns / Form No.16 etc.to be shown at the time of submission of application form.
Special Attention: 1.Life Insurance Cover for Home LoanBorrower is also available at the option and cost of borrower(one time premium). If Borrower wish to avail the facility,Take option in the application form. Premium amount mayalso be financed by the Bank which is recoverable in EMIs.
2. Financing for purchase of flats in multistoried housingprojects may also be considered. For details pl referBCC:BR:104:115 dated 02.04.2012
-: Housing Loan :-Interest rates applicable from 10.09.2012 (subject to change from time to time)
(Interest. Rates are linked with Base Rate Present Rate effective from 01.05.2012 10.50%)
Tenure Loan Amt. upto `30/- lacs Loan Amt. >`30/- lacsup to < ` 75 lac
` 75 lac & above(effective from 1.12.2010)
Upto 5 years Base Rate + 0.25 i.e 10.75% Base Rate + 1.00 i.e. 11.50% Base Rate + 1.25 i .e. 11.75%
>5 years to upto 15 years Base Rate + 0.50 i.e 11.00% Base Rate + 1.25 i.e. 11.75% Base Rate + 1.50 i.e. 12.00%
>15 years to upto 25years
Base Rate + 0.75 i.e11.25% Base Rate + 1.50 i.e. 12.00% Base Rate + 1.75 i.e. 12.25%
EMI Chart at different Interest Rate and different period
Updated by S.M. Mathur, Chief Manager
Loan amount ` 75 lac & aboveInterest Rate EMI Per Lac
11.75% ` 221212.00% ` 143512.00% ` 1201
12.25% ` 111912.25% ` 1072
Tenure Loan Amt. upto `30/- lacs Loan Amt. > `30/- lacs upto < ` 75 lacInterest Rate EMI Per Lac- ** Interest Rate EMI Per Lac
05 Years 10.75% ` 2162 11.50 % ` 220010 Years 11.00% ` 1378 11.75% ` 142115 Years 11.00% ` 1137 11.75% ` 118520 Years 11.25% ` 1050 12.00% ` 110225 Years 11.25% ` 999 12.00% ` 1054 13
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Housing Loanssanctioned on or after 01.04.2011 upto the limit of Rs. 25.00 lacs shall now be classified under Priority Sector Advances.howeverLoan for repairs to damaged houses, Upto Rs. 1 lac in rural and semi urban and upto Rs. 2 lacs in urban and metropolitan areaswill be deemed under Priority sector.Amortization chart of loan a/c to be provided to borrower along with sanctioned letter in all loan accounts where repayment is made through EMI- BCC:BR:103:182 dated 28.06.2011Normally Branches should not allow POA (Power of attorney holder) to execute loan document, however inexceptional circumstances with the permission of higher authorities. BCC:BR:103:171 dated 17.06.2011
Annexure I -b
CHECK-LIST FOR CARLOAN
DOCUMENTS REQUIRED:
1. Application Form duly filled and signed by prospective borrower.2. Two Passport Size Photographs3. Quotation for Car from an authorized car dealer
Updated by S.M. Mathur, Chief Manager
Processing Charges
Loans up to ` 20 Lac 0.35% of Loan Amt Max. `15000 plus Service Tax
Loans above ` 20 Lac 0.40% of Loan Amt Max. ` 15000 plus Service Tax
Prepayment Charges -NIL- if repaid from own sources. Incase of takeover by other Banks /FIs 0.10% subject to a Maximum of` 5000/-
Repayment Period Repayable in maximum 25 years (300 EMIs)
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4. Photocopy of Pan Card5. Personal Identification Proof
- Photo Identity Card issued by present employer- Electoral I-Card
- Passport- Driving License- PAN Card
6. Residential address Proof-Electricity Bill-Telephone Bill (Land Line)-Electoral I-Card-Passport
7. Latest salary slips for the last 3 months with break up and duly attested by the employer andcountersigned by the applicant.
8. For Salaried Class: Income Tax Returns alongwith Form No. 16 for last two years.
9. For Others: Income Tax Returns for last two years alongwith Assessment Orders10. Bank A/c Statement for last 6 months and Details of Existing Loan A/cs, if any.
Car Loan (Contd.)
Updated by S.M. Mathur, Chief Manager 15
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Check list (Part-A & B) ofvarious activities which
are mandatory for sanctioning/disbursing & post sanction follow-upMonitoring signed by Branch head be kept alongwith loan documents for the verification by
Inspectors/Auditors-BCC:BR:103:180 dated 27.06.2011* Festive discount in ROI See annexure I-C
Updated by S.M. Mathur, Chief Manager
Rate of Interest: Applicable from 01.08..2012 (Subject to change from time to time)-For repayment period upto 5 years: Base Rate + 2.50% i.e. 13.00%*-For repayment period more than 5 years: Base Rate + 3.00% i.e. 13.50%*
EMI CHART
Repayment Period Rate of Int. EMI Per Lakh
36 Months 13.00% ` 3370
60 Months 13.00% ` 2270
84 Months 13.50% ` 1847
Processing charges:
For Loans upto `15 lac 0.75% of Loan Amt Max. ` 10000 plus Service Tax
For Loans above `15 lac 0.50% of Loan Amt Min. ` 10000 plus Service Tax
Repayment Period Repayable in 84 EMIs
PREPAYMENT CHARGES NIL MARGIN For loans upto ` 15 lac 15% on Road cost
For loans over` 15 lac - 20% on Road cost(On Road cost means Invoice Price plus Insurance,Registration and Road Tax but excluding accessories
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Annexure I -c
Retail Loan Festive Offer (BCC:BR:104/344 dated 01.10.12)
**During campaign period (01.10.12 to 30.11.12) there is 100% waiver of processing charges. and concession in ROI for HL & Car laon
The applicable rate on home loans will be as under:-EMI per lac of rupees
Up tp 5yrs 10 yrs 15 yrs 20 yrs 25 yrsLoans up to 30 lac - on Base rate i.e. 10.50% - 2150/-, 1350/- 1106/- 999/- 945/-Loans above 30 lac - Base rate + 0.25% i.e 10.75% - 2162/- 1364/- 1121/- 1016/- 963/-
For Car loans
Up to 5 yrs Base rate + 0.75% = 11.25% EMI per lac 2187 /->5 years & up to 7 years - Base rate + 1.25% = 11.75% EMI per lac 1752/-
The effective interest rates as mentioned above may change with the change in Base Rate duringcampaign period
For Car loans, following concession will also be available during campaign period which are otherwiseavailable during normal course of business:1. 0.25% concession in rate of interest to existing HL borrowers having a good track record of repayment
without having any overdues in their account. It is also to be ensured that the account has not been
rephrased, restructured or rescheduled in the pase (Ref. Cir. No BCC:BR:102:155 dated 8.06.2010)2. 0.50% concession in interest rates if liquid securities like pledge of FDR, NSC, KVP, LIC policies for 50%
or above of the sanctioned limit are made available.
Updated by S.M. Mathur, Chief Manager 17
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But the concession in rate of interest would not be available where any concession ordeviation has already been granted in the past.
Annexure-II
ALL IN COST FOR RETAIL LOANS(BCC:BR:102:318 dated 22.11.2010)
(A) UNIFIED PROCESSING CHARGES: includes processing charges, documentation charges, document verification charges andpre & one time post sanction inspection charges. As Amended on 15.01.2011
S.N. RETAIL PRODUCT CHARGES
1. Baroda Home Loan
Takeover of Home loan
Loans upto `30 lacs : 0.50%. Min.` 5000Loans above. ` 30 lacs : 0.40% Minimum : ` 15000/- Max. ` 50000(service tax (ST) to be recovered separately in addition to above)0.10% +ST No Maximum
2. Baroda Auto Loana. Car Loan upto Rs.15 lacb. Car Loan to HNIs /Corporates over Rs.15 lacsc. Two wheeler loan
0.75% maximum Rs.10000/- +ST0.50% minimum Rs. 10000/- +ST no maximum
2.00% minimum Rs. 250/- +ST
3. Baroda Education Loana. Baroda Vidhya
b. Baroda Gyanc. Baroda Scholar
NIL
NIL1% (to be refunded after availment of loan)
4. Baroda Personal Loan 2% minimum Rs. 250/- +ST except following:Loan to Pensioners Rs. 500/- +ST fixed and
Updated by S.M. Mathur, Chief Manager 18
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Processing charges are to be recovered upfront. 50% of processing charges recovered upfront may be refunded if advance is sanctioned but not availed by the borrower. No Processing charges, if loan is not sanctioned upto Rs. 5.00 lacs.
(B) Charges in respect of Advocate and Valuer:Legal opinion fee and valuation charges are to be recovered on actual basis in addition to above Unified ProcessingCharges.
(C ) PREPAYMENT CHARGES:
S.N. RETAIL PRODUCT CHARGES
1. Baroda Home Loan A. Part prepayment of loan NILB. FULL PREPAYMENT/ PREMATURE CLOSURE CHARGES: No penalty if loan is prepaid from own sources.
In other cases, @ 0.5% of balance outstanding for each year of the residualperiod of home loan subject to maximum of2.00% including any such amountprepaid in the last financial year +ST
2. Baroda Auto Loan NIL
3. Baroda Education loan NIL
4. Baroda Personal Loan NIL
(D) INSPECTION CHARGES:
S.N. RETAIL PRODUCT CHARGES
1. Baroda Home Loan Post Inspection: 1st post inspection NIL2nd & onwards Rs.100/- + out of pocket charges + conveyance charges (per
inspection) +Service Tax2. Baroda Auto Loan Post Inspection: 1st post inspection NIL
2nd & onwards Rs.100/- + out of pocket charges + conveyance charges (perinspection) + Service Tax
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3. Baroda Education loan NIL4. Baroda Personal Loan NIL
(E) INTEREST RATE: Interest Rates chart is to be provided as applicable from time to time (Subject to change from time totime).
(F) LEGAL REPORTS / VALUATION CHARGES: Actual Charges is to be recovered.(G) CONVERSION CHARGES FROM FIXED TO FLOATING:
Baroda Home Loan: (applicable for loans sanctioned under fixed rate option)From Fixed to Fluctuating rate option One time process.
@ 0.50% for every year for the residual period of the loan maximum 2% +ST of the amount outstanding on the date of allowingconversion.
With a condition to charge fee for premature closure (@ 00.5% +ST of balance outstanding for each year of the residual period ofhousing loan, subject to maximum of 3%) be stipulated and borrowers acceptance to this be taken.
From Fluctuating to Fixed rate option Option is not available now,
Baroda home loans sanctioned on fixed rate option with reset clause after completion of 5/3 years of sanction ( i.e. on or after16.08.2007 & 17.11.2008 ) has become due for resetting of interest and be accordingly changed. Procedure explained withexample in BCC:BR:104:255 dated 17.07.2012
ASCROM input data sheet be now a part of every Retail loan proposal.
Oher Recent changes:1. Repayment of Retail loans of NRIs by his resident close relatives in Rupees is now permitted by RBI
(BCC:BR:103:269 dated 20.09.2011)
2. Borrower may be given an option for resetting of EMIs/ extention of repayment period subsequent to change in interest rateHowever total Repayment period of home loans (including extended period ) subsequent to increase in rate of interest should notexceed Maximum period permissible under Home Loans i.e. 300 months or 60/65 years of age of borrower in case of salariedclass/
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Professional / business men as the case may be, which ever is earlier (BCC:RB:104:944 dated 25.04.2012)
Education Loan Interest Subsidy Scheme (ELIS): Provides interest subsidy for the period of moratorium to students from Economicallyweaker sections (having parental family income from all sources not more than `4.5 lac per annum), Subsidy will be available only to studentsenrolled in recognised Technical/Professional courses (after XII) in india, courses starting from academic year 2009-10. Maximum loan `10 lac*
After moratorium period interest will be borne by student Ref cir.-BCC:BR:102:222 dated 13.08.10 & BCC:BR:102:255 dated 16.09.2010. Fordetailed procedure for submission of claim (Software) ref. cir. No. BCC:BR:102:353 dated 27.12.2010.*Interest subsidy scheme may be extended in respect of courses where the fee structure (all inclusive) is more than Rs.10 lac and whichotherwise satisfy all other eligibility criteria of subsidy scheme, but subsidy amount will be calculated only upto loan amount of Rs.10 lacs.(BCC:BR:103:162 dated 13.06.2011)
Annexure III
(H) Present rate of interest on Retail Loans advised vied Circular No. BCC: BR: 104:317 Dated: 10.09.2012 as under:
EFFECTIVE RATE OF INTEREST ON VARIOUS RETAIL LOANS W.E.10.09.2012 - BASE RATE 10.50%(w.e.f.01.05.2012)
Updated by S.M. Mathur, Chief Manager
Sr.No.
Product/Period of Loan Effective Rates per annum with monthly rests
1. BARODA HOME LOAN TOINDIVIDUALS / NRIs / PIOs
Up to Rs 30 Lacs Over Rs 30 Lacs& up to < 75 lac
75 lac & above(effectiveFrom 01.12.2010)
Fixed Rate Option NOT AVAILABLE NOT AVAILABLE NOT AVAILABLE
Floating Rate Option
Upto 5 years Base Rate + 0.25%
i.e. 10.75%
Base Rate + 1.00%
i.e.11.50%
Base Rate + 1.25%
i.e. 11.75%Over 5 years & upto 15 years Base Rate + 0.50%
i.e 11.00%Base Rate + 1.25%i.e. 11.75%
Base Rate + 1.50%i.e. 12.00%
Over 15 Years & upto 25 years Base Rate + 0.75%i.e. 11.25%
Base Rate + 1.50%i.e. 12.50%
Base Rate +1.75%i.e. 12.25%
BARODA HOME IMPROVEMENT LOAN Base Rate + 2.50% i.e.13.00%BARODA ADDITIONAL ASSUREDADVANCE (Resident / NRIs/ PIOs)
Base Rate + 1.50% i.e. 12.00%
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Updated by S.M. Mathur, Chief Manager
Sr.No.
Product/Period of Loan Effective Rates per annum with monthly rests
2. BARODA MORTGAGE LOAN Base Rate +5.25% i.e. 15.75%
3. BARODA ASHRAY (REVERSE MORTGAGE)Fixed rate option NOT AVAILABLE
Floating rate option Base Rate + 1.75% i.e. 12.25%
4. BARODA TRADERS LOAN: Irrespectiveof loan limit / OD / TLAgainst security of Gold ornaments /Jewellery
Base Rate + 3.00% i.e. 13.50%
Base Rate + 3.00% i.e. 13.50%
5. BARODA LOAN TO DOCTORSUp to Rs. 2.00 Lacs Base Rate + 3.00% i.e. 13.50%.
Above Rs. 2.00 Lacs Base Rate + 2.50% i.e. 13.00%.
6. BARODA EDUCATION LOAN
Up to Rs. 4 lacs Base Rate + 2.50% i.e. 13.00%.
Above Rs. 4.00 lacs up to 7.50 lac Base Rate + 4.00% i.e. 14.50%.
Above Rs. 7.50 lac Base Rate + 3.50% i.e. 14.00%
BARODA CAREER DEVELOPMENT Base Rate + 4.75% i.e. 15.25%
7. BARODA AUTO LOAN
BARODA CAR LOAN / BARODA CARLOAN to HNIs / Corporates Repayment period up to 5 YearsRepayment period > 5 Years
Base Rate + 2.50% i.e. 13.00%Base Rate + 3.00% i.e. 13.50%
Baroda Loan for Two wheeler Base Rate + 4.00% i.e. 14.50%
8. BARODA ADVANCE AGAINST SECURITIES
Against NSC / KVPLoan:
Base Rate + 3.50% or 0.50% over NSC / KVPrate, whichever is higher
Overdraft Base Rate + 4.00% or 0.75% over NSC / KVP,whichever is higher
Life Insurance Policy / Relief BondsLoan: Base Rate + 3.50% i.e. 14.00 %
Overdraft: Base Rate + 4.00% i.e. 14.50 %.
Advance Against Gold Ornament /Jewellery
Base Rate + 4.00% i.e. 14.50 %.
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Updated by S.M. Mathur, Chief Manager
Sr.No.
Product/Period of Loan Effective Rates per annum with monthly rests
9. BARODA PERSONAL LOANExcept for following Purpose_ Loan to Pensioners_ Loan to Defense Pensioners_ Loan for Earnest Money Deposit
Base Rate + 6.50% i.e. 17.00%
Base Rate + 5.25% i.e. 15.75%Base Rate + 5.25% i.e. 15.75%Base Rate + 3.25% i.e. 13.75%
10. BARODA SALARY ADVANTAGESAVINGS ACCOUNT
Base Rate + 5.50% i.e. 16.00%
11. LOAN AGAINST FUTURE RENTRECEIVABLES.
Base Rate + 6.00% i.e.16.50%
12. LABOD/ODBODBelow ` 100 lac` 100 lac & aboveFor Staff : Up to ` 10.00 lac
> ` 10.00 lac & up to ` 50 lac> ` 50 lac
1.50% over Interest rate on Fixed Deposit1.75% over Interest rate on Fixed Deposit1.00% over Interest rate on Fixed Deposit
1.50% over Interest rate on Fixed Deposit1.75% over Interest rate on Fixed Deposit
13. Advance against the securities of thirdParty FDRsBelow ` 100 lacLoans of ` 100 lac & aboveSenior Citizen & Staff (to third party)
2.00% over Deposit rate or Base rate + 3.50% which ever is higher.2.25% over Deposit rate or Base rate + 3.50% which ever is higher.Not available
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Staff Loans
(A) Housing Loan (Cir. No. BB:BR:102/135 dated 14.05.2010)
1. Regular Housing Loan
Details Officer Clerks Substaff**
Eligility Confirmed Banks Service
Loan Limit 90% of total cost or Maximum 20lac, whichever is less
90% of total cost or Maximum 12lac, whichever is less
90% of total cost or Maximum 9lac, whichever is less
Rate of Interest 8% p.a. (Simple) or Base rate which ever is less
Margin 10%
Repayment 2 yrs after date of first disbursement or 6 months after completion of house/flat whichever is earlier. EMI of Principle - 180 months and of Interest - 60
** Limit for Part-time sub staff
wages 60 times of gross salary subject to maximum Rs. 6/- lac
wages 60 times of gross salary subject to maximum Rs. 4/- lac
1/3 wages 60 t imes of gross salary subject to maximum Rs. 2.67 lac
(2) Additional Housing Loan for Repair/Renovation/Extention
Details Officer Clerk Substaff
Full time wages 1/2wages
1/3 wages
Eligibility Confirmed Bank Service
Loan Limit 4 lac 2.4 lac 1.6 lac 1.2 lac 0.80 lac 0.53 lac
Interest rate 8% p.a. simple or Base rate, which ever is less
Repayment 120 months (Principle 90 and Interest 30)
Margin 25% of approximate cost
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(B) Vehicle Loan (BCC:BR:102/38 dated 04.02.2010
Officers: Car Loan
Eligibility: All confirmed officers with 3 years continuous service, drawing Basic pay not less than Rs. 13820/- There is noceiling of Basic Pay in case of physically handicapped employees.
Loan for 2nd hand car may be considered under the same terms and conditions up to an amount equivalent to presentmarket price as per valuation certificate of approved motor garage or insured amount as per insurance company, whch
ever is less provided officer gives an undertaking to take comprehensive insurance policy of the vehicle till the loan isrepaid fully.
Two-wheeler loan:
Eligibility : Confirmed service.
Loan of 2nd hand Two Wheeler may be considered provided loan for previous T/W has settled and there is interval of 4
years between two loans from date of sanction of previous T/W loan
Updated by S.M. Mathur, Chief Manager
Purpose Limit Rate of interest Repayment
Purchase of new car 80% of control price or 7 lac Whichever is less
8.5% (Simple) Principle in 90 months & interestin 30 months
Purpose Limit Rate of interest Repayment
T/W(Scooter/Motor cycle/.Moped 90% of control price or 90000/- Which everis less
8.5%(Simple)
Principle in 70 months & interestin 14 months
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Loan for 2nd hand T/W may be considered under the same terms and conditions up to an amount equivalent to presentmarket price as per valuation certificate of approved motor garage or insured amount as per insurance company, whchever is less provided officer gives an undertaking to take comprehensive insurance policy of the vehicle till the loan isrepaid fully.
Clerical staff
Car Loan:
Eligibility: Clerks drawing Basic pay of Rs. 10000/- p.m. or above (As per 8 th Bi-partite settlement). There is noceiling of BP in case of physically handicapped employees.
Two-wheeler loan for Clerks who joined Banks service on or after 18.09.1989
Eligibility: Clerks who are drawing Basic pay of Rs. 5850/- p.m. or more as per 8th Bi-partite settlement and hasjoined on or before 18.09.1989
Updated by S.M. Mathur, Chief Manager
Purpose Limit Rate of interest Repayment
Purchase of new car 80% of control price or 5 lac Which
ever is less
8.5% (Simple) Principle in 90 months & interest
in 30 months
Purpose Limit Rate of interest Repayment
T/W(Scooter/Motor cycle/.Moped 90% of control price or 90000/- Whichever is less
8.5% (Simple) Principle in 70 months & interestin 14 months
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Sub-Staff
Two wheeler loan for Full time substaff who joined Banks Service on or after 18.09.1989
Eligibility: Confirmed Substaff who are drawing Basic Pay of Rs. 5850/- p.m. or more as per 8 th Bi-partitesettlement and has joined on or before 18.09.89
Part-time Sub-staff
Two wheeler loan for confirmed Part time Sub staff
Eligibility: Confirmed Part-time Sub-staff who are drawing proportionate wages of Rs. 5850 p.m. or more as per 8th
Bi-partite settlement
Disclaimer:
This handout is for Internal Circulation only, although utmost care has been taken in incorporating and updating the data,
however in case of any doubt or interpretation, Clarification and/or for need of detailed guidelines please refer to Banksrelative Circular/s mentioned at appropriate places.
S.M.Mathur, Chief Manager Nawalgarh, Cell: +918875001954 (O) +919462803807 (P)email : [email protected]
Updated by S.M. Mathur, Chief Manager
Purpose Limit Rate of interest Repayment
T/W(Scooter/Motor cycle/.Moped 90% of control price or 90000/- Whichever is less
8.5% (Simple) Principle in 70 months & interestin 14 months
Purpose Limit Rate of interest Repayment
T/W(Scooter/Motor cycle/.Moped 90% of control price or 90000/- Whichever is less
8.5% (Simple) Principle in 70 months & interestin 14 months
28
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