Amount of Loan:
Minimum up to AED 200,000/-
Maximum up to AED 5,000,000/- , subject to
a) Salaried Employees - up to 48 times of average monthly income of last 2 years
b) Self-employed - up to 4 times average annual income of last 2 years
Residing in UAE for last 2 years
Having Business/Employment in UAE for last 2 years
Having satisfactory banking relationship with us for last 2 years
For Salaried Employees-monthly salary of at least AED 10,000/-
For Self Employed borrowers & businessmen - Annual income of atleast AED 200,000/-
Rate of Interest & Margin*:
|Rate of Interest
||5.50 % (3 % below base rate)
||6.5 % (2 % below base rate)
||50% (of which cash margin may constitute 25 % in the form of FDR) & interest to be reset every year at the time of review
Up to a maximum period of 20 years
Processing Charges *:
1% of loan amount with a max. of AED 25000/-
a) If amount prepaid within a year from the date of saction - 3% of outstanding amount.
b) If the amount is prepaid between 1 - 3 years date of saction - 2% outstanding amount.
c) If the amount is prepaid between 3 - 5 years date of saction - 1% outstanding amount.
d) If the amount is prepaid after 5 years from the date of saction - No penalty is to be levied.
Low Processing charges
For Further details
- Bank of Baroda
- Dubai main Branch, Bur Dubai, UAE
- Tel: 04-3136604, 3136641
- Products also available at branches
- Abu Dhabi: 02-6330244 Deira: 04-2287949 Sharjah: 06-5684231
- Al Ain: 03-7519880 Ras Al Khaimah: 07-2229293
*Terms: Rates and charges are subject to change from time to time
Download Application Form