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Loan for Margin money on Baroda Housing Loan in India
(For NRIs & PIOs)
Eligibility:
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Non Resident Indian and person of Indian Origin (as
defined under FEMA) |
Age:
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Minimum 21 yrs. to
Maximum 65 yrs. |
Quantum of loan:
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For salaried
person
15% of cost of house purchased in India or 12 times of
salary whichever is lower subject to maximum AED
250,000/- |
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For Others
Margin Money contribution on Housing Loan in India or
125% of average annual income for last two years
whichever is lower subject to maximum 250,000/- |
Repament:
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Maximum 60 months
(Amount of installment not to exceed 60% of monthly
income of the borrower) |
Rate of Interest*:
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1% over base rate, i.e., 12% per annum with monthly
rates on daily reducing balance
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Processing Charges*:
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1% of the loan amount |
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Minimum charges AED 200/-
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*Terms: Rates and charges are subject to change from time to time |
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