Secure your financials with us
Avail day-to-day or lump sum loans
Baroda Loan/Overdraft Insurance Policy
Baroda Loan / Overdraft against Insurance Policy is available for any purpose other than financial speculation of any type against the assignment of insurance policy.
-
Type of Facility
-
Eligibility
-
Loan Amount
-
Margin Contribution
-
Repayment Period
-
Fees and Charges
-
Terms & Conditions
Any of the following facility can be availed:
- Overdraft : For day to day transactions
- Demand Loan : Lump sum Loan Amount repayable in periodical installments.
| Loan Amount | |
|---|---|
| Minimum | $1,000.00 |
| Maximum | $250,000.00 |
Overdraft - 20% of latest net Surrender Value of Insurance Policy
Demand Loan - 10% of latest net Surrender Value of Insurance Policy
Loan can be within sixty months after the date of first disbursement.
Terms and Conditions apply
| Establishment Fees | |
|---|---|
| 1.00% of Loan Amount |
| Credit Service Fees | |
|---|---|
| Upto $1,500.00 | $5.00 per month |
| From $1,501.00 to $5,000.00 | $15.00 per month |
| From $5,001.00 to $10,000.00 | $20.00 per month |
| From $10,001.00 to $30,000.00 | $35.00 per month |
| From $30,001.00 to $50,000.00 | $70.00 per month |
| From $50,001.00 to $70,000.00 | $100.00 per month |
| From $70,001.00 to $90,000.00 | $120.00 per month |
| From $90,001.00 to $100,000.00 | $140.00 per month |
| From $100,001.00 to $200,000.00 | $240.00 per month |
| Above $200,000.00 | 0.125 % of Loan Amount / OD Limit per month (Minimum $240.00 and Maximum 1,500.00) |
| Security Document Handling Fees | |
|---|---|
| Upto $1,000.00 | Free |
| Above $1,000.00 | |
| One Document | $100.00 |
| Additinal Document | $40.00 per document |
| (Solicitor charges + out of pocket expenses to be recoverred seperately) | |
| Excess Fees Charges | |
|---|---|
| Upto $5,000.00 | $25.00 per visit |
| From $5,001 To $10,000.00 | $50.00 per visit |
| From $10,001.00 To $25,000.00 | $100.00 per visit |
| Above $25,000 | 1.00% of excess / Adhoc per occassion |
| Loan Arrear Fees | |
|---|---|
| Upto $500.00 |
2% p.a. additional interest on
the overdue amount with
minimum of $25.00 per month
|
| From $501.00 To $1,000.00 |
2% p.a. additional interest on
the overdue amount with
minimum of $25.00 per month
|
| From $1,001.00 To $2,500.00 |
2% p.a. additional interest on
the overdue amount with
minimum of $25.00 per month
|
| From $2,501.00 To $5,000.00 |
2% p.a. additional interest on
the overdue amount with
minimum of $25.00 per month
|
| Above $5,000.00 |
2% p.a. additional interest on
the overdue amount with
minimum of $25.00 per month
|
| Opinion Fees | |
|---|---|
| Local | $25.00 + Out of Pocket Expenses |
| Overseas | $50.00 + Out of Poecket Expenses |
| Modification in Terms and Conditions | |
|---|---|
| For each modification | $100.00 |
| Stamping/Unstamping Charges | |
|---|---|
| $15.00 + out of pocket expenses |
| Document Discharge Fees | |
|---|---|
| $100.00 per document |
| Assignment Charges | |
|---|---|
| For each Assignment | $15.00 + out of Pocket Expenses + Actual Stamp Duty and Assignment Charges |
| Settlement Fees | |
|---|---|
| $150.00 per settlement |
| Search Fees |
|---|
| $30.00 subsequent $10.00 per hour |
| Cheque Book Charges | ||
|---|---|---|
| $2.00 per fifty leaves book plus stamp duty as applicable (For Current and Overdraft Accounts) |
||
| Stop Payment Charges | |
|---|---|
| $10. 00 per instrument |
| Duplicate Statement Fees |
|---|
| $5.00 per page Computer Printout $7.50 per page statement |
| Cheque Holding Charges | ||
|---|---|---|
| $15.00 per instrument per working day | ||
| Dishonour Cheque Charges | |
|---|---|
| Outward-$25 per instrument |
| Cash Handling Charges | |
|---|---|
| Total cash deposit below $5000 (per day) | Nil |
| Total cash deposit $5000 & above (per day) | 0.50% of total cash deposit |
- Terms and Condition Apply
