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Explore Bank of Baroda home loans
Baroda Home Loans
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.
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Eligibility
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Loan Amount
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Margin Contribution
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Repayment Period
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Fees and Charges
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Documentation
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Terms & Conditions
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 $500,000.00
For Home improvement : Maximum Loan amount is $125,000.00
For Home Loan
- minimum margin contribution is 20%
For Home Improvement Loan
- minimum margin contribution is 25%
Repayment period is up to 25 years for Home Loan and up to 10 years for Home Improvement Loan.
| Establishment Fees | |
|---|---|
| 1.00% of Loan Amount |
| 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 |
| FNPF Housing Transfer Fees | |
|---|---|
| For each Application | $100.00 per Application + FNPF Cost |
| 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 |
| Establishment Fees | |
|---|---|
| 1.00% of Loan Amount |
| 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 |
| FNPF Housing Transfer Fees | |
|---|---|
| For each Application | $100.00 per Application + FNPF Cost |
| 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 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
