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Old April 20th, 2016, 11:29 AM
Sumit Bhardwaj
Super Moderator
 
Join Date: Nov 2011
Posts: 34,130
Default Re: Loan against Property Bank Of Baroda

The bank of Baroda is provides loan against land and building. This is a unique product for financing working capital requirements/long term margin requirements of SME borrowers against the security of unencumbered land and building belonging to the unit or Promoters of the unit, or, close relatives of the promoters.

This loan is to provide hassle free credit to SME borrowers to meet working capital requirements/augment long term margin requirements.

Eligibility

All Enterprises, i.e. Micro, Small & Medium Enterprises, as defined under MSMED Act, 2006, and other entities with annual sales turnover up to Rs. 150/- crores and Real Estate/Non Real Estate projects where the project cost is Rs.50.00 Crores exclusively banking with bank of Baroda bank/new borrowers desirous of having sole banking arrangement with our bank. .

Limits:

Minimum : Rs. 10.00 lacs (for Rural/Semi-Urban/Urban/Metro branches)
Maximum: Rs. 75.00 lacs (for Rural branches)
Rs. 200.00 lacs (for Semi-urban branches)
Rs. 500.00 lacs (for Urban & Metro branches)

Rate of interest:

Micro Enterprises in Manufacturing & Service Sector (As per Regulatory definition)
Base rate + 2% p.a. at present

Small Enterprises in Manufacturing & Service Sector (As per Regulatory definition)
Base Rate+2.25% p.a. at present

Medium Enterprises in Manufacturing & Service Sector (As per Regulatory definition)
Base Rate +2.75% p.a. at present

For other Enterprises, i.e. with annual sales turnover up to Rs.150/- crores.
Base Rate +3.25% p.a. at present
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