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
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