Baroda home Loans offer you the flexibility for acquiring ready to occupy houses/flats from developers or by choosing re-sale properties and takeover of from other banks.
Key Features
- Home Loan products to suit every customers need
- Low Interest Rates
- Low Processing Fee
- No Hidden Charges
- 3rd year onwards interest rate is linked to Emirates Interbank Offered Rate (EIBOR) of the bank and is reset
- Quarterly.
- Interest charges on Daily Reducing Balance
- Longer tenor up to 25 years
- Moratorium period up to 06 months after the loan amount is disbursed.
- Easy Top Up facility available
Eligibility
- UAE Nationals / Expats / PIO / OCI residing in UAE for last 02 years
- For constructing, purchasing or renovating a house for owner occupier or investment purpose
- Age
- Minimum – 21 years
- Maximum- For salaried Class – 65- years at loan maturity
- For Others – 70- years at loan maturity
- Limit – Min. – AED 200000 Max -AED 60000000
Charges
| Interest Rate and Charges | |
| Interest Rates | Fixed plus Variable First 2 Years –4.50%p.a. fixed( reducing balance) 3rd Year onwards –2.15% over 3 months EIBOR with minimum of 4.50% Variable from Day one 2.00% plus 03 Months EIBOR with minimum of 3.50% p.a. |
| Processing Fees | New– 1.00% of loan amount or Max AED 25000/-Takeover – 0.50% of loan amount or Max. AED 25000/- |
WARNING:
– If you do not keep up your repayments/payments, you may lose your property
– You may have to pay penalties if you pay off a loan/financing early
– Refinancing your loans/financing may take longer to pay off than your previous loan/financing and may result in paying more in interest/profit
– If you do not meet the repayments/payments on your loan/financing, your account will go into arrears. This may affect your credit rating, which may limit your ability to access financing in the