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    • Saturday      :CLOSED
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  • Contact Details

    Our Address :

    Bank of Baroda
    P.B. No. 553
    No.32, Sir William Newton Street,
    Port Louis
    Mauritius
    Telephone :
    (230) 208 1504/05
    (230) 208 3891/93
    email: portlo@bankofbaroda.com

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  • /Mortgage Loan Scheme

Mortgage Loan Scheme

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Eligibility
Salaried persons, Professionals, Self Employed and others who are gainfully employed for the last two years

Purpose
For all legitimate purposes except for speculation

Amount
Maximum – Rs 5.00 mn 36 time of Gross Monthly Income for Salaried and 3 times of Average Annual Income of Last Two years for businessman Loan shall be lower of the maximum ceiling and calculation based on income.

Margin
50% of value of the property offered as security. (Security should be 200% of the credit facility)

 Repayment
In 120 monthly installments for Loan or EMIs And 10% annual reduction for OD facility

Rate of Interest
2.00% over PLR i.e. 8.90% (Presently charging 8.50%)

Securities
1st Rank fixed charge on Flat/House Purchase constructed out of Bank Finance

 Processing Fee
1% of Loan amount Minimum Rs.1,000/-Maximum – Rs. 25,000/-.

Documents to be submitted along with application
1. Copy of National ID Card
2. Copy of Driving License for vehicle for which loan is applied.
3. Salary Slips for last 3 months for salaried/ MRA return for businessman

Sanctioning Authority
Time Frame for taking credit decision / disposal of proposal from the date of submission of data / information is within 10 working days for all credit facilities upto Rs. 300,000.00