The bridge to success.

Loans with low processing charges from BoB.

  • Key Features
  • Eligibility
  • Charges

Overdraft/Loan Against Property : Key Features

Facility for any purpose other than speculation in the form of overdraft/loan

Amount of loan:

  • Salaried employees - up to 36 times of net monthly income

  • Self-employed - up to 3.5 times of net annual income (average of last 3 years)

  • Low processing charges

  • Online sanction

Overdraft/Loan Against Property : Eligibility

  • Individuals: Salaried employees, professional, self-employed, businessmen and others are eligible for this loan

  • Age: Minimum: 21 years, Maximum: 60 years

  • Income Criteria: Minimum gross annual income: AED 60,000

Overdraft/Loan Against Property : Charges

  • Rate of interest*: 12% p.a.

  • Repayment period:

  • Overdraft - 12 months

  • Loan - Maximum 84 months

Frequently Asked Questions (FAQs)

  • What is an overdraft loan against property?

    An Overdraft Loan against Property allows borrowers to use their property as collateral to withdraw cash up to a predetermined limit for property purchase, whether for self-occupation or investment..

  • What are the documents required for overdraft/loan against property?

    Documents required for an overdraft/loan against property from Bank of Baroda UAE includes

    • Completed loan application form
    • Passport copies of all borrowers and guarantors
    • Copy of the property title deed
    • Income proof documentation
    • Bank statements for the last six months.
  • What is The interest rate for overdraft/loan against property?

    The interest rate for overdraft/loan against property is linked with EIBOR and LTV. Presently ROI is as under

    Option I II
    Margin 50% of Market Value 40% of Market Value
    ROI 3.00% plus 3 months EIBOR  with minimum of 4.00% Pa 3.50% plus 3 months EIBOR  with minimum of 4.50% Pa
X
We use cookies (and similar tools) to enhance your experience on our website. To learn more on our cookie policy, please click here. By continuing to browse this website, you consent to our use of cookies.