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Advance Against Property to Individuals
Baroda Advance Against Property helps individuals customize their personal or business finances by accessing equity in property owned. Bank of Baroda UAE provides attractive interest rates, flexible repayment schedules, and fast approvals. Make the most of your property without losing it. Apply now and transform your asset into an invaluable financial resource with high funding potential.
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Key Features
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Eligibility
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Charges
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Warning Box
Advance Against Property to Individuals : Key Features
- Higher limit up to AED 20000000.
- Higher repayment period up to 84 months
- Competitive rate of interest
- No hidden Charges
- Interest charges on Daily Reducing Balance
Advance Against Property to Individuals : Eligibility
- UAE Nationals / Expatriates / PIO / OCI
- For constructing, purchasing or renovating a house for owner occupier or investment purpose
- Age- Individual- Min. 21 Years
Max. Salaried- 65 years Non salaried – 70 years including loan tenor - Tenor - Term Loan – Max. 7 Years
- Limit- Min. – AED 100,000 Max. AED 20,000,0000
Advance Against Property to Individuals : Charges
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Interest Rate and Charges |
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Interest Rates |
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Processing Fees |
0.50% of sanctioned limit Min. – AED 1000/- Max. – AED 25000/- |
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Advance Against Property to Individuals : Warning Box
Debt Management Tool/Guidelines as per Compliance of Consumer Protection Standards of CBUAE
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WARNING: |
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What is an Advance Against Property (AAP)?
An Advance Against Property (AAP) is a loan where the borrower pledges their property as collateral to secure funding from a lender. The loan amount is determined based on the value of the collateral.
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How much loan amount can I avail through an Advance Against Property to individuals?
Factors determining the loan amount for Advance Against Property (AAP) from Bank of Baroda UAE
- Value of the provided property as collateral
- Borrower's income
- Repayment capacity
Bank of Baroda UAE offers AAP loans up to AED 20,000,000.
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What is the rate of interest for Advance Against Property to individuals?
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 -
Who can apply under this scheme?UAE Nationals, Indian Expatriate, PIO, OCI
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What is the minimum and maximum age required to apply under this scheme?
For salaried- Min. Age- 21 years Max. Age- 65 years
For others – Min. Age 21 years Max. Age- 70 years -
What is the maximum amount I can borrow under this scheme?
You can borrow max. Up to AED 20 Million
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What is the Maximum Period up to which I can avail Loan under this scheme?
You can avail loan up to a max. period of 7 years
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What type of facility available under this scheme?
Facility can be availed in form of demand Loan or Term Loan only
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Do you offer early settlement under this scheme?
Yes you can repay your loan before maturity
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What is the charge for early settlement?
No charges for early settlement
