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Baroda Additional Assured Advance (AAA)

Eligible Borrowers :

All Existing Home Loan Borrowers including NRIs /PIOs, Staff and Ex-staff Members( availed home loan under public scheme as well as Staff Housing Loans) whose Asset classification is Standard

Loan Limit :

Minimum Rs.1 lac, Maximum Rs.200 lac
75% of Residual Value of House Property after deducting 150% of outstanding loan amount of Existing home Loan whichever is lower.

Purpose :

Any purpose other than Speculation (No Change)

Margin :

25% of Residual Value of House Property after deducting 150% of outstanding loan amount of Existing home Loan.

Maximun Age:

Age of borrower + tenure of �AAA� Loan should not exceed 70 years, in syncronising with Home Loan.

Repayment Period :

As per request of the borrower subject to repayment capacity. However the maximum period should not be more than the remaining period of Home Loan.

Interest Rate :

1.50% above Base Rate w.e.f 16.08.2012

Unified Processing Charges :

2% with a minimum of Rs.1000/

Repayment Period :

Maximum 84 EMI but not to exceed maturity date of existing Home Loan

Security :

Extension of Eq Mortgage (No Change)

Insurance :

Property Insurance Cover with Personal Accidental Death Insurance Cover under Tie-up arrangement with NICL and additionally Group Credit Life Insurance Cover (Optional and at the cost of Borrower)

Repayment Capacity :

Total deductions not to exceed 60% of the Gross Monthly Income

Valuation Norms for the property to be mortgaged

Valuation norms will be as under:

1. If the property is purchased within last 5 years, the registered value to be accepted as value of the security. After five years of the execution of sale deed, fresh valuation from approved valuer may be accepted to the satisfaction of the sanctioning authority.

2. In all other cases present market value to be accepted as value of security subject to the condition that present valuation to carried out only after three years of previous valuation.



For more details, kindly visit a Bank of Baroda Branch nearest to you.

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