A loan on top of your loan!
Enjoy additional benefits on your home loan
Baroda Additional Assured Advance
The existing Home loan borrowers of the bank can avail “POP – Up” loan for all lawful economic activities & personal needs, to the extent of amount of Principal repaid
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Eligibility
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Loan Amount
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Repayment
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Terms & Conditions
Baroda Additional Assured Advance : Eligibility
- All existing housing loan customers of the bank.
- Age of borrower plus tenure of the B-AAA should not exceed 70 years
- A margin of 25% of residual Value of Housing propertyafter deducting 150% of outstanding loan amount of existing Home Loan account.
Baroda Additional Assured Advance : Loan Amount
Minimum Kshs. 1,000,000/- & maximum Kshs.25,000,000 maximum amount is restricted to 80% of the principal amount repaid.
- Base Rate+ Applicable Risk Premium.
Baroda Additional Assured Advance : Repayment
- By Equated Monthly Installments (EMIs).
- Up to maximum -84- EMIs (should not exceed the maturity date of the existing home Loan account
Baroda Additional Assured Advance : Terms & Conditions
- The B-AAA facility is also available for the Home Loan accounts transferred from other financial institutions.
- For security, the extension of existing legal charge of the house already created is required.
- This facility can be availed as many as 3 times during the entire tenure of home Loan, subject to full settlement of previous B-AAA.
- Third party viz: Valuation fees, legal costs & property Insurance cost etc. are to be borne by the borrower.
