Baroda Gujarat Gramin Bank Plot Loan

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Baroda Gujarat Gramin Bank Plot Loan Features

Interest Rate 10% to 11%
Loan Amount Up to Rs. 5 crore
Loan Tenure   15 Years
Processing Charges Up to 3% of the loan amount

Eligibility criteria for Baroda Gujarat Gramin Bank Plot Loan

  • loan amount are up to ₹ 75 Lakh. Most banks restrict maximum eligibility to ₹ 25 Lakh.
  • The minimum age should be between 21 Yrs. – 65 Yrs
  • For salaried individuals, timely and regular salary credit is important to get eligible for a loan.
  • 650 & more credit history has to be provided with the bank.

Baroda Gujarat Gramin Bank Plot Loan

Benefits of Baroda Gujarat Gramin Bank Plot Loan

  • The high loan amount is available with the bank.
  • Bank has an attractive interest rate.
  • There are o hidden charges.
  • Wide range of home loan products.
  • Simplified documentation
  • Availability of Balance transfer facility
  • Up to 30 years of repayment time

Types Of Baroda Gujarat Gramin Bank Plot Loan:

Plot Loan

A loan for purchasing a Plot can only be availed for the purchase of vacant residential space or a piece of land which later can be used to build a house or for investment purposes.‭ ‬The property should be found within the municipal or corporate limits.‭ ‬This type of loan is worth of high-risk ‬and no tax benefits.‭
The bank plot loan interest rate differs for every bank; however, it is primarily dependent on factors such as employment type, the amount of bank plot loan purchase, and the variant of the loan. Some banks offer certain attractive rates of interest if women want to take a bank plot loan

 Baroda Gujarat Gramin Bank Plot Loan +Construction plot Loan

Rates are similar to a Plot loan, ‬but the bank plot + Construction Loan interest rates can be higher if you want the construction period to be longer. The loan is availed to purchase the residential plots and build a house on the property within a fixed time. If a borrower does not start construction within a given period, the bank can increase the interest rate on the loan. This article carries out information about Plot loan with construction and how this is different from the normal home loan.

Plot loan With Construction Vs Home Loan

Baroda Gujarat Gramin Bank Plot Loan Self-employed Individuals

The Baroda Gujarat Gramin Bank Plot Loan offers many exciting benefits for any self-employed individual.

Who Can Apply for a Self-employed Baroda Gujarat Gramin Bank Plot Loan

The self-employed individuals can apply for an Baroda Gujarat Gramin Bank Plot Loan.

LOAN AMOUNT MAXIMUM FUNDING
Above Rs. 30 lakh to up to 75 lakh. Up to 80% of the market value or document cost of the property, whichever is lower.
Above Rs. 75 lakh. Up to 75% of the market value or document cost of the property, whichever one happens to be lower.

Plot Loan Self-employed Individuals

The Baroda Gujarat Gramin Bank Plot Loan offers many exciting benefits for any self-employed individual.

Who Can Apply for a Self-employed Baroda Gujarat Gramin Bank Plot Loan

The self-employed individuals can apply for Aryavart Bank Plot Loan if they follow the criteria.

Type of Baroda Gujarat Gramin Bank Plot Loan for self-employed:

Tru mounted loan – 2/3 Year mounted Rate Variant

 Baroda Gujarat Gramin Bank Plot Loan gives customers a vicinity adjustable-rate term and a vicinity mounted rate term. underneath the TruFixed loan, the individual will avail mounted rate up to 2/3 years, once that the loan can amendment to Associate in Nursing adjustable-rate loan mechanically, summation to a complete of a 15-year loan term.

Loan Slab Home Loan Interest Rates (% p.a.)
For Women* (up to 30 Lakhs) 7.50 to 8.0
For Others* (up to 30 Lakhs) 7.55 to 8.05
For Women* (Above 30 Lakhs) 7.65 to 8.15
For Others* (Above 30 Lakhs) 7.70 to 8.20
For Women* (75.01 Lakhs & Above) 7.75 to 8.25
For Others*(75.01 Lakhs & Above) 7.80 to 8.30

Adjustable Home Rate Loan

The adjustable-rate plot loan is joined to Baroda Gujarat Gramin Bank Plot Loan Loan provides Retail Prime disposition Rate (RPLR). The charge per unit on the loan is revised once every 3 months if there’s an amendment within the RPLR, taking the date of the primary disbursement under consideration. an increase in the charge per unit can result in a rise within the EMI’s interest element that successively can cut back the principal element. this may extend the loan term, and contrariwise, in cases wherever the charge per unit drops.

Loan Slab Home Loan Interest Rates (% p.a)
For women* (up to 30 lakh) 7.05 to 7.55
For others* (up to 30 lakh) 7.10 to 7.60
For women* (above 30 lakh) 7.30 to 7.80
For others* (above 30 lakh) 7.35 to 7.85
For Women* (75.01 Lakhs & Above) 7.40 to 7.90
For Others*(75.01 Lakhs & Above) 7.45 to 7.95

Baroda Gujarat Gramin Bank Plot Loan Interest Rates for Self-employed non-professionals:

Adjustable Home Rate Loan: 

The Retail Prime Lending Rate for Baroda Gujarat Gramin Bank Plot loan is 16.20%

Loan Slab Interest Rates (% p.a.)
For Women* (Up to 30 Lakhs) 7.20 to 7.70
For Others* (Up to 30 Lakhs) 7.25 to 7.75
For Women* (Above 30 Lakhs) 7.45 to 7.95
For Others* (Above 30 Lakhs) 7.50 to 8.00
For Women* ( 75.01 Lakhs & Above) 7.55 to 8.05

TruFixed Loan- 2/3 Year Fixed Rate Variant:

The Retail Prime Lending Rate for self-employed individuals stands at 16.20%

Loan Slab Interest Rates (% p.a.)
For Women* (up to 30 Lakhs) 7.65 to 8.15
For Others* (up to 30 Lakhs) 7.70 to 8.20
For Women* (Above 30 Lakhs) 7.80 to 8.30
For Others* (Above 30 Lakhs) 7.85 to 8.35
For Women* ( 75.01 Lakhs & Above) 7.90 to 8.40
For Others*( 75.01 Lakhs & Above) 7.95 to 8.45

 Baroda Gujarat Gramin Bank Plot Loan Documents Required for Self-employed Individuals

ID Proof Class 10th marksheet, Aadhar card, Passport
Address Proof Driver’s License, Telephone Bill, Election card, Ration Card
Educational qualification copy of last qualifying Degree
Proof of Business Certificate
Tax Returns Last three years, form 26AS
Income statement Lat one year account statement
Other documents Sale Deed, Sanctioned Plan; if applicable, Estimate of construction; if applicable

Baroda Gujarat Gramin Bank Plot Loan fees for Self-employed Individuals

Processing Fees:

Pre-payment Charges

The processing fees for the Baroda Gujarat Gramin Bank Plot Loan is 2,500-5,000 rupees.

Adjustable-Rate Home Loans (ARHL) Adjustable-Rate Loans (ARHL):·        No prepayment charges will be payable on account of full/part payments for loans sanctioned to individual borrowers.·        For loans sanctioned to individual borrowers with the firm, company, etc. as a co-applicant. Prepayment charges at 2% plus taxes, as may be applicable from time to time, of the amount being prepaid, are payable.·        The customer will have to submit documents that Indiabulls Bank Plot Loan deems fit and proper to confirm the source of funds at the time of prepayment of the loan.
Fixed-Rate Home Loans (FRHL) Fixed-Rate Loans (FRHL)·        No prepayment charges will be applicable for part/full payments made from own sources i.e., sources other than a bank/NBFC/HFC or financial institutions·        The customer should submit documents that Kotak Mahindra Bank sees fit and proper to determine the source of funds.·        Prepayment charges will be 2% plus taxes and statutory levies and charges of the outstanding amounts being so prepaid through any financial institution or any bank and will be applied to all full/ partial prepayments.
Fixed and Variable Rate Loans (Combination rate) Fixed and Variable Rate Loans (Combination rate)·        During the Fixed Rate period:·        The prepayment charges will be 2%, plus applicable taxes and statutory charges and levies of the outstanding amount being so prepaid through refinance from financial institutions or any banks, and will apply to all partial/full prepayments.·        The customer must submit documents that Fullerton India Bank Plot Loan approves to confirm the source of funds at the time of prepayment of the loan.

·        During the Variable Rate period:

·        No prepayment charges will be applicable on account of full/partial prepayments for loan sanctioned to individual borrowers.

·        For loans sanctioned to individual borrowers with the firm, company, etc. as co-applicants. Prepayment charges at 2% plus taxes and statutory charges, as may be applicable from time to time, of the amount being prepaid are payable.

The prepayment charges mentioned will be applicable from the date of execution of the loan agreement. However, the charges are subject to change from time to time.

Conversion fees: 

 Baroda Gujarat Gramin Bank Plot Loan gives an advantage to its existing customers that are the conversion facility to pull down the rate of interest on the loan by interchanging schemes. This facility can be used by paying a fee or one can either reduce the loan amount time or EMI. Here are the options of conversions available for the existing Fullerton India bank customers:

Name of the service/    product Name of the charge/fee levied When payable Frequency Amount in rupees
Switch to a lower rate in   Variable Rate Loans (Housing/improvement/  extension) Conversion fees On conversion On every spread change Up to 50% of the principal outstanding and undisbursed amount at the time of conversion or a cap of Rs.50,000 plus taxes whichever is lower.
Switching to Variable Rate Loan from Fixed Rate Loan (Housing/improvement/extension) Conversion fees On conversion Once Up to 50% of the principal outstanding and undisbursed amount at the time of conversion or a cap of Rs.50,000 plus taxes whichever is lower.
Switching from Trufixed Fixed Rate to Variable Rate Loan Conversion fees On conversion Once 1.75% of the principal outstanding and undisbursed amount plus taxes at the time of conversion.
Switch to Lower Rate (Non-Housing Loans) Conversion fees On conversion On every spread change Half of the spread difference on the principal outstanding and undisbursed amount plus taxes, with a minimum fee of 0.5% and a maximum fee of 1.50%.
Switch to Lower Rate (Non-Housing Loans) Conversion fees On conversion On every spread change 0.5% of principal outstanding and undisbursed amount plus taxes at the time of conversion.

Cheque discredit charges: 

The cheque discredit charges for the Baroda Gujarat Gramin Bank Plot Loan are Rs.200 (conditions apply).

Fees on account of external opinion: 

The external opinion can be either from technical valuers or advocates and the fees can be paid directly to the person in charge depending on the kind of help condensed.

Property insurance: 

For keeping the policy active, the customer has to pay the premium amounts to the insurance provider on a regular basis without any fault.

Charges on account of delayed payments: 

In case there has been a delay in paying the EMI or the interest then the customer has to pay an additional interest of 24% p.a

Incidental charges

Incidental charges and expenses are imposed to cover the charges, costs, and other expenses that may have been utilized to recover dues from a defaulting customer.

Statutory/regulatory charges:

The customer will be solely responsible for all charges applicable on stamp duty/MOD/MOE/Central Registry of Securitization Asset Reconstruction and Security Interest of India (CERSAI).

List of documents: 

Rs 500 is the cost for the list of documents taken for the Baroda Gujarat Gramin Bank Plot Loan.

Photocopy of documents

Rs 500 is the cost for the photocopy of documents taken for the Aryavart Bank Plot Loan.

Increase/decrease in loan term: 

If there is a need where you want to increase or decrease loan term then you have to pay Rs 500 along with the application form.

Disbursement cheque cancellation charge post disbursement: 

The cost for the Disbursement cheque cancellation Is Up to Rs.200 asper the Baroda Gujarat Gramin Bank Plot Loan.

PDC swap

The PDC swap charges a minimal amount of Rs 200.

Re-appraisal of the loan after 6 months from sanction:

If you want a re-appraisal of the Baroda Gujarat Gramin Bank Plot Loan loan after 6 months from its sanction then you may have to pay Rs 2000 along with the applicable taxes.

How to Apply for Baroda Gujarat Gramin Bank Plot Loan with Dialabank

  • Open the Dialabank website
  • Visit the Indiabulls Plot Loan
  • Check your eligibility before applying.
  • Apply online
  • Sit back and wait for an expert to give you a call.

Additional Tips to get Baroda Gujarat Gramin Bank Plot Loan

  • Check the website for any other information that you might require.
  • Check if you have all your documents
  • Check your eligibility criteria

FAQs For Baroda Gujarat Gramin Bank Plot Loan

✅ What is the plot loan interest rate of Baroda Gujarat Gramin Bank Plot Loan?

The interest rate of the Baroda Gujarat Gramin Bank Plot Loan is 10.40% onwards.

✅What is Baroda Gujarat Gramin Bank Plot Loan?

 Baroda Gujarat Gramin Bank Plot Loan allows one to purchase land to construct on it. Plot loans are of two types with each having specific functions.

✅How much processing fee is applicable on Baroda Gujarat Gramin Bank Plot Loan?

The processing fees on Baroda Gujarat Gramin Bank Plot Loan are 2,500-5,000 rupees.

✅What is the loan tenure of the Baroda Gujarat Gramin Bank Plot Loan?

Up to 30 years

✅How much EMI per lakh can be fixed on the Baroda Gujarat Gramin Bank Plot Loan?

Rs. 652 per lakh

✅How can I avail plot loan from Baroda Gujarat Gramin Bank Plot Loan?

You need to fulfill the eligibility criteria and provide the required documents.

✅How to apply for Baroda Gujarat Gramin Bank Plot Loan?

You can visit Dialabank, open the Baroda Gujarat Gramin Bank Plot Loan page, and fill out the application form.

How to repay the Baroda Gujarat Gramin Bank Plot Loan earlier than the schedule?

You can make extra payments than the stipulated amount to repay the loan early.

✅Is it possible to repay my loan earlier than the schedule?

Yes, it is possible to repay the loan earlier than the schedule.

✅How to check Baroda Gujarat Gramin Bank Plot Loan eligibility?

You can check your eligibility using the eligibility criteria calculator on the Fullerton India Bank Plot Loan website.

✅What is the Baroda Gujarat Gramin Bank Plot Loan phone number?

If you have any questions about the Baroda Gujarat Gramin Bank Plot Loan, you can call 9878981144

✅What is the Baroda Gujarat Gramin Bank Plot Loan interest rate for women?

The plot loan interest rate for women is 7.05%

What is Baroda Gujarat Gramin Bank Plot Loan interest rates for salaried individuals?

The interest rate for Full Baroda Gujarat Gramin Bank Plot Loan for salaried individuals is 7.05% to 8.0%

What is Baroda Gujarat Gramin Bank Plot Loan interest rates for self-employed individuals?

The interest rate for Baroda Gujarat Gramin Bank Plot Loan for self-employed individuals is 7.25% to 7.75%

✅What is Baroda Gujarat Gramin Bank Plot Loan interest rates for self-employed non-professionals?

The interest rate for women is up to 7.25 to 7.75%

✅How is an Baroda Gujarat Gramin Bank Plot Loan different from a home loan?

A plot loan is availed to buy residential land while a home loan is taken to buy residential built-up/under-construction property.

✅Can I take a plot loan with a home loan?

No. You can avail of either one of them.

What is the maximum amount that I can take as a loan?

The loan amount is up to 70% of the property value.

Can a plot loan finance investment in any plot, anywhere?

A plot loan can be financed only within municipal limits of pre-specified locations or, in cases of direct allotment by the concerned development authority, outside municipal limits.

What is a Balance Transfer on Baroda Gujarat Gramin Bank Plot Loan?

A home loan balance transfer can be availed at an interest rate starting from 6.75%.

Do I get any tax benefits on a plot loan?

No, one does not get any tax benefits on a plot loan.

How many years can I keep the plot of land before starting construction?

If the plot loan has been taken specifically for construction, the construction should begin immediately.

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