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Baroda Vaibhav Lakshmi Loan |
Bank of Baroda presents a unique Retail Loan product Baroda Vaibhav Lakshmi specially designed for women employees for addressing their various needs.
Key Benefits
Takes care of all kinds of expenses.
Loan can be availed as term loan or overdraft facility without any security.
Terms & Conditions
The loan can be availed by employees of:
Public Sector Undertakings, Life Insurance Corporation, General Insurance Company and its subsidiaries.
Educational Institutions viz. Reputed Inter / Degree Colleges. Engg. / Medical Colleges etc.
Railways, State Govt. and other Central Govt. Organizations.
Public Limited Companies.
Eligibility:
Age between 21 to 55 years
Must be a reguler and permanent employee for not less than one year
Loan Amount:
Minimum Rs 0.20 lac
Maximum Rs. 2.00 lacs or 10 times of net monthly salary whichever is lower (Subject to conditions)
Repayment Period:
Maximum – 3 Years
Rate of Interest:
Concession of 0.5% for group of borrowers (minimum 10) from one organization provided employer undertakes to deduct monthly installments directly from salary and deposit the same to the branch.
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