Loan Against Property Bank Of Baroda

 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 customer’s need
  • Low-Interest Rates
  • Low Processing Fee
  • No Hidden Charges
  • 3rd year onwards interest rate is linked to the Emirates Interbank Offered Rate (EIBOR) of the bank and is reset
  • Quarterly.
  • Interest charges on Daily Reducing Balance
  • Longer tenor up to 25 years
  • The 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 Rates Fixed plus Variable
First 2 Years –4.50%p.a. fixed( reducing balance)
3rd Year onwards –2.15% over 3 months EIBOR with a minimum of 4.50%

Variable from Day one
2.00% plus 03 Months EIBOR with minimum of 3.50% p.a.
Processing FeesNew– 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 future