Rapid Funds 2 India
Baroda Home Loan
Fees and Charges
Baroda Home Loan
Bank of Baroda invites you to be a proud owner of your own home and offers easy Home Loan with a number of conveniences to suit your budget. Baroda Home Loan is for the purpose of purchase/ construction of residential house/ flat. It is also for the purpose of home improvement including renovation/ addition/ extention.
1. Individuals of Fiji citizenship
who have attained the age of twenty one years and;
are in permanent employment for at least five years or;
engaged in business for at least five years.
2. The property should be
located within the city/ town boundary;
should not be older than twenty five years;
lease period of the property should not be less than repayment tenure of loan and the total deduction should not exceed 60% of the salary net of statutory deduction and taxes.
For Home Loan : Maximum Loan amount is $400,000.00
For Home improvement : Maximum Loan amount is $100,000.00
For Home Loan
- minimum margin contribution is 20% for up to $200000 and 25% for more than $200000
For Home Improvement Loan
- minimum margin contribution is 20% for up to $60000 and 25% for more than $60000
Repayment period is up to 15 years for Home Loan and up to 7 years for Home Improvement Loan.
Documents to be submitted:
Latest salary slip of the borrower
Letter from the borrower confirming the employment details of the borrower
Copy of title deeds or lease documents
In case of a self-employment person, copies of 3 years financial statements and Income Tax Returns
If loan is for construction of a house, quotations from at least two reputed builders/ contractors along with copy of approved plan and specifications for the house to be constructed.
In case of purchase of existing or ready made house, valuation report by a Register Valuer/ Engineer's Certificate along with a Sale and Purchase Agreement or Letter of Intent to sell
Registered legal mortgage over the property to be created in Bank’s favor.
Mortgage protection cover and insurance of House property covering all risk.
Disbursement: - In case of construction work given on contract basis, payment is to be made directly to the Builder / Contractor upon completion of work in stages and after due verification by the branch.
In other cases payment for purchase of raw materials is to be made on production of invoices / bills etc. and payment of wages to be made on production of wages bills after due verification by branch and supported by certificate from Architect /Engineer regarding work-in-progress / completion of work.
Loan repayment to commence one month after first disbursement of loan in case of purchase of ready built house or for repairs / renovation/ extension of existing house whereas in case of construction of a house, the same to be commenced six months after first disbursement or one month after completion of house whichever is earlier.
Terms and Conditions apply
Fees and Charges
1.00% of Loan Amount
From $1,501.00 To $10,000.00
$40.00 per visit
From $10,001 To $25,000.00
$75.00 per visit
From $25,001.00 To $50,000.00
$100.00 per visit
From $50,001.00 To $100,000.00
$150.00 per visit
$200.00 per visit
Security Document Handling Fees
$25.00 per document
(Solicitor charges + out of pocket expenses to be recoverred seperately)
Loan Arrear Fees
$5.00 for earch installment per month
From $501.00 To $1,000.00
$10.00 for earch installment per month
From $1,001.00 To $2,500.00
$15.00 for earch installment per month
From $2,501.00 To $5,000.00
$20.00 for earch installment per month
$25.00 for earch installment per month
$25.00 + Out of Pocket Expenses
$50.00 + Out of Poecket Expenses
Modification in Terms and Conditions
For each modification
$15.00 + out of pocket expenses
Document Discharge Fees
$75.00 per document
FNPF Housing Transfer Fees
For each Application
$50.00 per Application + FNPF Cost
$75.00 per settlement
$30.00 subsequent $10.00 per hour
Data Bureau Charges
Individual Credit Information
business Credit Information
Duplicate Statement Fees
$2.00 per page Computer Printout
$7.50 per page statement
E - Banking
E - Statement
Fees & Charges
Holidays in Fiji
© 2013 Bank of Baroda, Fiji Territory, GPO. Box.57, Suva, Fiji Islands.