Baroda Overdraft Against Land and Building From Bank of Baroda

Baroda Overdraft against land and building 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.

PURPOSE :

  • To provide hassle free credit to SME borrowers to meet working capital requirements/augment long term margin requirements.

ELIGIBILITY Of Baroda Overdraft Against Land and Building From Bank of Baroda

  • 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 our bank/new borrowers desirous of having sole banking arrangement with our bank. .

LIMIT :

  • 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)

SECURITY For  Baroda Overdraft Against Land and Building From Bank of Baroda:

Note : In case of residential/commercial building, age of property should not be more than 25 years at the time of sanction).

  1. Mortgage of factory land and building and/or any other property (Land & Building) belonging to the unit, promoters of the unit, or close relatives of the promoters, (viz. father, mother, wife, son and daughter only provided they stand as guarantors).
  2. Personal guarantees of all Promoter Directors/owners of property.
  3. Third party guarantee, if available.
  4. Charge on unencumbered personal properties of the Promoter Directors, if available.
  5. Hypothecation of stocks/book debts.

MARGIN :

  • 40% of the market value of property mortgaged (valuation of the property will be carried out by the valuer on bank�s approved panel/Government approved valuer)
    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

     

    Term Premium for Term Loan as per guidelines

    PERIOD :

    12 months.

    OTHER FEATURES For  Baroda Overdraft Against Land and Building From Bank of Baroda:

    • Simplified assessment methods.
    • Submission of stock/book debts statements on half yearly basis.
    • Annual inspection of securities.
    • Non-fund based facilities like LCs, Guarantees, allowed by earmarking Overdraft facility.
    • Valuation of properties once in 3 years.

It has been a long and eventful journey of almost a century across 25 countries. Starting in 1908 from a small building in Baroda to its new hi-rise and hi-tech Baroda Corporate Centre in Mumbai, is a saga of vision, enterprise, financial prudence and corporate governance.

It is a story scripted in corporate wisdom and social pride. It is a story crafted in private capital, princely patronage and state ownership. It is a story of ordinary bankers and their extraordinary contribution in the ascent of Bank of Baroda to the formidable heights of corporate glory. It is a story that needs to be shared with all those millions of people - customers, stakeholders, employees & the public at large - who in ample measure, have contributed to the making of an institution.

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