The bridge to success
A loan for any business purpose against mortgage
Baroda Property Loan
Baroda Property Loan is for any purpose except for financial speculation of any type.
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Facility
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Eligibility
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Computation of Eligible Limits
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Repayment Period
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Fees and Charges
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Documentation
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Terms & Conditions
- Demand Loan
- Individuals of fiji citizenship who have attained the age of 21 years, are in permanent employment for atleast 3 years or have been engaged in business for atleast 3 years.
- Incase of business concern, it should be incorporated in Fiji.
- The property should be located within city/ town boundary.
- The lease period of the property should be sufficiently higher than repayment tenure of loan.
For individuals, the minimum amount is computed as under :
- 60% of market value of property
- less than or equal to four times of net yearly income and total deduction should not exceed 60% of the salary net of statutory deduction and taxes
In case of business concerns, the minimum of amount is computed as under:
- 60% of market value of property
- total deduction should not exceed 80% of net profit after tax plus depreciation
- Up to 84 months
| 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) |
| Inspection Fees | |
|---|---|
| Upto $1,500.00 | Free |
| From $1,501.00 To $10,000.00 | $50.00 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 |
| Above $100,000 | $200.00 per visit |
| 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) | |
| 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 |
| Settlement Fees | |
|---|---|
| $150.00 per settlement |
| Search Fees |
|---|
| $30.00 subsequent $10.00 per hour |
| Data Bureau Charges | ||
|---|---|---|
| $17.00 |
| Duplicate Statement Fees |
|---|
| $5.00 per page Computer Printout $7.50 per page statement |
- Latest salary slip and PAYE return
- Letter from the employer confirming the employment details of the applicant
- Income Tax returns for the past two years
- Original copy of Title deeds or Lease documents
- Latest receipt of taxes, rates and charges etc
- In case of self employment person/firms/companies etc, latest balance sheet for last 2 years.
- Last 6 months statement of accounts of main bank
- Registered legal mortgage be created over the property
- 3rd party guarantees if mortgaged property belongs to guarantor
- Insurance of mortgage property covering all risk
- Repayment to be commenced one month after 1st disbursement.
- Please contact any branch for more details.
- Terms and Conditions apply
