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Bank of Baroda, India ’ s International Bank

Middle East


Retail Banking

Baroda Home Loan in UAE

Be the proud owner of your own dream home in UAE with Baroda Home Loan.

FAQs on Home Loans in UAE

Salient Features

  • Purpose of Loan:
  • For acquiring ready house / flat
  • For self construction of Villa
  • Reimbursement of acquisition cost for houses / flats fully constructed purchased within a period not exceeding 2 years, from own resources
  • For take over of loans from other banks where load is taken for residence for own occupation.
  • Amount of Loan:
  • Minimum up to AED 200,000/-

    Maximum up to AED 20 million, subject to

    a) Salaried Employees - up to 48 times of average monthly income of last 2 years

    b) Self-employed/Business class - up to 4 times average annual income of last 2 years


    Eligibility Criteria:
  • Residing in UAE for last 2 years
  • Having Business/Employment in UAE for last 2 years
  • Having satisfactory banking relationship with us for last 2 years
  • For Salaried Employees-monthly salary of at least AED 10,000/-
  • For Self Employed borrowers & businessmen - Annual income of atleast AED 200,000/-

  • Rate of Interest & Margin*:
  • Options Details Remark
    Rate of Interest

    1. For first two years: 3.50 % p.a. under reducing balance method.

    2. From third year: 3.00 % below base rate with minimum of 4.75 % p.a. (Present Base rate is 7.75 % p.a.) under reducing balance method

    ROI will be fixed for first -2- years and it will not be linked with Base rate
    Margin

    For UAE National:

    For 1st house -

    1. 20% of the value for properties those are valued less than AED 5.000 Mn.

    2. 30% of the values for properties those are valued more than AED 5.000 Mn.

    For 2nd house -

    35% of the value of property.

     

    For Expatriates:

    For 1st house -

    1. 25% of the value for properties those are valued less than AED 5.000 Mn.

    2. 35% of the values for properties those are valued more than AED 5.000 Mn.

    For 2nd house -

    40% of the value of property.


  • Repayment Period:
  • Up to a maximum period of 20 years


  • Processing Charges *:
  • 1. 1.00% of loan amount with a ceiling of AED 25,000/-

    2. 0.50% of outstanding loan amount with a ceiling of AED 25,000/- for takeover loan accounts.


  • Prepayment Charges*:
  • a) If amount prepaid within -2- year from the date of sanction - 1% of outstanding amount or AED 10,000/- whichever is lower.
    b) If the amount is prepaid between 2 - 5 years date of sanction - 0.50% outstanding amount.
    c) If the amount is prepaid after 5 years from the date of sanction - No charges/penalty are to be levied.


    Additional Benefits:

  • Low Processing charges
  • Online sanction

  • For Further details

    *Terms: Rates and charges are subject to change from time to time

    Download Application Form

     
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