Baroda Mortgage Loan

Eligibility:

 

 

 

 

 

 

Resident Indians:

  • Salaried/Professional, Self Employed, Business persons, Agriculturists & Others, (whose income is considered for eligibility) should be employed /engaged in business/profession for a minimum period of -3- years.
  • (Break in service can be allowed up to a maximum period of -3- months)
  • Minimum Gross Annual Income (GAI) (average of last -3- years’) (inclusive of co-applicant/s’, whose income is considering for eligibility): Rs. 3 Lacs

NRIs:

  • Non-Resident Indians (NRIs) holding Indian passport having a regular job abroad in a reputed Indian / foreign company, organization or government department.
  • Must be holding a valid job contract / work permit for minimum past -2- years for employed / self-employed or having a business unit and staying abroad at least for past   -2- years.
  • Minimum Gross Annual Income (GAI) (average of last -3- years’) (inclusive of co-applicant/s’, whose income is considering for eligibility): Rs. 5 Lacs.

 If the applicant / co applicant/s, whose income is considering for eligibility includes both Resident and NRI, Minimum Gross Annual Income put together should be Rs.5 Lacs (inclusive of co-applicant/s’, whose income is considering for eligibility)

Addition of  co-applicants:

The close relatives of the applicant can be added as a co-applicant for higher eligibility, with or without being an owner/ joint owner of the property.

If the applicant wants to add any person who is not a close relative as co-applicant, same can be considered subject to he/ she should be the owner / joint owner of the property, offered as collateral.

In case, if the income of owner/ joint-owner/s of property are not considered for eligibility, he/she should be made as an applicant / co-applicant. In such cases, upper age criteria/ employment criteria will not be applicable for these applicant/ co-applicants.

List of Close Relatives:

Spouse, Father, Mother (including Step Mother), Son (including Step Son), Son’s wife, Daughter (including Step Daughter, Daughter’s husband, Brother / Sister (including Step Brother / Sister), Brother’s wife, Sister (including step sister) of spouse, Sister’s husband, Brother (including step brother) of spouse.