Baroda Mortgage Loan

• Age of the Borrower
  Minimum-21- years
  Maximum- present age plus repayment period should not exceed -70- years of age or retirement age (salaried person), whichever is earlier.
• Base Rate+ Applicable Risk Premium.

• Salaried persons, Businessmen, Professionals, Farmers, Directors of Private/Public Ltd. Companies can avail the facility (Real Estate developers, Property Dealers/ Brokers, Share/ Stock Brokers are not eligible for this facility).
• Spouse of borrower/s, Blood relatives and their spouse can be included as co-borrower for higher eligible limit.
• Minimum three years tax returns to be submitted.
• Staff members are not eligible

• 35% of the Forced Sale Value of the immovable property to be mortgaged with the bank.

Minimum Kshs. 1,000,000/-& maximum Kshs. 100,000,000 (Also in available USD)subject to following income criteria;

• For salaried person/s :- 36- times of gross monthly income.
• Others: -5- times of gross annual income (average of last -2- years).
• (Total deductions including the proposed EMI/ notional installment should not exceed 60% of the gross monthly income).

• Term Loan: By -120-Equated Monthly Installments (EMIs).
• Overdrafts: -12- months subject to annual review.

• Comprehensive Insurance of the Property to be done.
• Credit Life coverage of the Individual borrower under Group Credit Life Mortgage Protection shall be obtained
• Legal charges on the property.
• Third party costs viz: Valuation fees, Legal costs & property Insurance costs etc. are to be borne by the borrower