Baroda Rajasthan Kshetriya Gramin Bank Plot Loan

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Baroda Rajasthan Kshetriya Gramin Bank Plot Loan Features

Interest Rate 8.90%
Plot Loan amount Up to INR 3 Crores
Loan Tenure 15 Years
Margin  24%
Pre-payment Penalty Nil

Eligibility Criteria for Baroda Rajasthan Kshetriya Gramin Bank Plot Loan

  • minimum 18 years of age
  • maximum 65 years of ageBaroda Rajasthan Kshetriya Gramin Bank Plot loan
  • Indian nationality
  • Both salaried and self-employed can apply for the plot loan
  • maximum of 3 crore can be taken as the loan amount

Benefits of Baroda Rajasthan Kshetriya Gramin Bank Plot Loan

Listed below are the benefits of Baroda Rajasthan Kshetriya Gramin Bank Plot loan.

  • The bank offers EMI as per the convenience of the borrower.
  • No long processing
  • Fast loan disbursement
  • Tax benefits on Construction

Plot Loan

A Plot loan is provided by the lender to buy a plot of land. The repayment is done by Equated Monthly Instalments (EMI), within a specified period of time. Plot loan for land purchase is availed for various purposes. With less processing fee and minimal documents required, a lot of borrowers take a plot loan to cater to their financial needs.

1. Plot Loan Interest Rates

The rate of interest for a plot loan and home loans are same.‭ ‬Certain banks offer higher rates for loan for land purchase as compared to home loans.‭ The higher the loan amount, the more will be the interest rate.

2. Loan to Value Ratio‭ (‬LTV‭)‬

Loan to value or LTV loan amount is the money a borrower gets against their property.‭ ‬LTV scales between‭ ‬75%‭ ‬to‭ ‬90%.

3. Lower Tenure

Land loans have a longer tenure of‭ ‬30‭ ‬years.‭

4. Tax Benefits

Home loans qualify for a tax rebate. But a plot loan alone cannot give any tax benefits.

5. Prepayment Penalty

Floating rate loans are free from the prepayment penalty. However, it is important for a borrower to read the loan agreement properly.

Types of Plot Loan Baroda Rajasthan Kshetriya Gramin Bank Provides

Plot Loan

A plot loan will allow a borrower to purchase a plot of land or a vacant residential plot that can be used for constructing a house or any other investment purposes. This type of loan has no tax benefits. The property has to be within the municipal limits.

Plot + Construction Loan

This loan is taken to buy a residential plot to construct a house on along with the land. it within a given time. If the borrower fails to start the construction on time, the bank will increase the interest rate.

Baroda Rajasthan Kshetriya Gramin Bank Plot Loan for Self-employed Individuals:

Self-employed individuals enjoy various benefits.

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

LOAN AMOUNT MAXIMUM FUNDING
Rs. 30 lakh – 75 lakh Up to 80% of the document cost or the market value, whichever is the lowest.
Above Rs. 75 lakh Up to 75% of the document cost or the market value, whichever is the lowest.

Types of Plot Loans for Self-employed Individuals

Baroda Rajasthan Kshetriya Gramin Bank provides two types of plot loans

  1. Adjustable-Rate Loan- This type of plot loan is revised every six months with the interest rate depending on that. It is available at Retail Prime Lending Rate.
  2. TruFixed Home Loan- This type of loan provides both, one half of an adjustable-rate and the other half fixed rate. It changes after 2/3 years

Baroda Rajasthan Kshetriya Gramin Bank Plot Loan Interest Rate for Self-employed Professionals

Adjustable Plot Loan Rate

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

TruFixed Rate- 2/3 Year Fixed Rate Variant

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

Baroda Rajasthan Kshetriya Gramin Bank Plot Loan Interest Rate for self-Employed Non-professionals

Adjustable Home Rate Loan

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

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 Rajasthan Kshetriya Gramin Bank Documents Required for Self-employed

Identity Proof PAN Card / Passport / Aadhar Card / Voter ID
Residence Proof Driver’s License, Telephone Bill, Election or Ration Card
Education Qualification Last qualifying degree
Proof of Business Certificate or any other proof of business
Tax Returns Last three years Income Tax Returns
Bank Account Statements Last 1 year bank statements
Other documents Processing fee cheque, photocopy of title documents of the property.

Baroda Rajasthan Kshetriya Gramin Bank Plot Loan fees for Self-employed Individuals

Processing Fees: 

The processing fees is Rs. 2,500 – Rs. 5,000

Pre-payment Charges

Adjustable-Rate Home Loans
  • No prepayment charges
  • For loans sanctioned to individual borrowers with the firm, company, etc. as a co-applicant, prepayment charges are at 2% plus taxes.
Fixed-Rate Home Loans
  • No prepayment charges
  • The customer should submit documents that the Bank asks for.
  • Prepayment charges will be 2% plus tax and charges of the outstanding amount
Fixed and Variable Rate Loans Fixed and Variable Rate Loans (Combination rate)

  • During the Fixed Rate period:
    • The prepayment charges is 2%, with taxes and statutory charges along with it.
    • The customer must submit documents that the bank asks for, 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
      • For loans sanctioned to individual borrowers with the firm, company, etc. as co-applicants, Prepayment charges at 2% plus taxes and statutory charges are payable.

Conversion Fees

Name of the service Name of the charge/fee levied When payable Frequency
Amount in rupees
Switch to a lower rate in Variable Rate Loans
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 50,000 rupees 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 50,000 rupees 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 Dishonour Charges

The Cheque Dishonour Charges are up to 200 rupees.

Fees on Account of External Opinion

The external opinion is obtained from technical advocates whose fees is paid by the borrower.

Property Insurance

Borrowers have to pay for the insurance.

Incidental Charges

The incidental charges have to be paid by the borrower.

Statutory / Regulatory Charges

The customer has to pay for any charges on stamp duty/MOD/MOE/Central Registry of Securitization Asset Reconstruction and Security Interest of India.

List of Documents

Up to Rs. 500

Photocopy of Documents

Up to Rs. 500

Increase/Decrease in Loan Term

Up to Rs. 500

Disbursement Cheque Cancellation Charge Post Disbursement

Up to Rs. 200

Re-appraisal of Loan After 6 Months from Sanction

Up to Rs. 2000 plus applicable charges.

PDC Swap

Up to Rs. 200

Baroda Rajasthan Kshetriya Gramin Bank Plot Loan for Salaried Individuals

All salaried individual can benefit from Kshetriya Gramin Bank Plot Loan.

Who can apply for a Salaried Baroda Rajasthan Kshetriya Gramin Bank Plot Loan

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

Types of Plot Loans for Salaried Individuals

  1. Adjustable-Rate Loan: This is available at Retail Prime Lending Rate. It is regulated every six months.
  2. TrueFixed Home Loan- This is available at 2/3 Year Fixed Rate Variant. It provides one half of an adjustable-rate and other half of a fixed rate.

Baroda Rajasthan Kshetriya Gramin Bank Plot Loan Interest Rate for Salaried Individuals

Adjustable Plot Loan Rate

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

TruFixed Loan- 2/3 Year Fixed Rate Variant

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

Baroda Rajasthan Kshetriya Gramin Bank Plot Loan Documents For Salaried Individuals

Identity proof Passport, PAN Card, Aadhar Card, Election Card
Residence Proof Driving License, Telephone Bill, Ration Card, Election Card
Education Qualification Last qualifying Degree
Employment proof Last three months’ salary slips
Bank Statements Last six months bank statements
Others Processing fee cheque and photocopy of title documents

Baroda Rajasthan Kshetriya Gramin Bank Plot Loan Fees for Salaried Individuals

Processing Fees: 

The processing fees come from Rs. 2,500- Rs. 5,000

Pre-payment Charges:

Adjustable-Rate Home Loans
  • No prepayment charges are levied
  • For loans sanctioned to individual borrowers with a co-applicant, prepayment charges are at 2% plus taxes.
Fixed-Rate Home Loans
  • No prepayment charges will be applicable
  • Prepayment charges will be 2% plus tax and charges of the outstanding amount should be prepaid through any financial institution or a bank.
Fixed and Variable Rate Loans Fixed and Variable Rate Loans (Combination rate)

  • During the Fixed Rate period:
    • The prepayment charges of 2%, plus applicable taxes and statutory charges 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 the Bank asks for, 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
    • For loans sanctioned to individual borrowers with the firm, company, etc. as co-applicants. Prepayment charges at 2% plus taxes and statutory charges are payable as prepaid

Conversion Fees:

Name of the service Name of the charge/fee levied When payable Frequency Amount in rupees
Switch to a lower rate in Variable Rate Loans 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 50,000 rupees plus taxes whichever is lower.
Switch 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 50,000 rupees plus taxes whichever is lower.
Switch from Trufixed Fixed Rate to Variable Rate Loan Conversion fees On conversion Once 1.75% of the principal outstanding 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 difference on the principal outstanding 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 Dishonour Charges

up to Rs. 200

Fees on Account of External Opinion

The external opinion is given by technical advocates whose fees borrower pays.

Property Insurance

Borrowers pay for the property insurance.

Incidental Charges

The incidental charges, used to cover the extra expenses paid by the defaulter.

Statutory / Regulatory Charges

The customer is supposed to pay for any charges that are applicable on stamp duty/MOD/MOE/Central Registry of Securitization Asset Reconstruction and Security Interest of India.

List of Documents

Up to Rs. 500

Photocopy of Documents

Up to 500 rupees.

Increase/Decrease in Loan Term

Up to Rs. 500

Disbursement Cheque Cancellation Charge Post Disbursement

Up to Rs. 200

Re-appraisal of Loan After 6 Months from Sanction

Up to Rs. 2000 and applicable tax.

PDC Swap

Up to Rs. 200

How to apply for Baroda Rajasthan Kshetriya Gramin Bank Plot Loan with Dialabank

1.You can conveniently apply for the ICICI Bank plot loan online at www.dialabank.com

2. Just fill the form with appropriate details and the required documents

3. Our Customer Representative will get in touch with you and help choose the best loan for you

Additional tips to get Baroda Rajasthan Kshetriya Gramin Bank Plot Loan

  • Keep all the documents in hand
  • ITR should be available.
  • CIBIL score should be high

ICICI Bank Plot loan with Construction vs Home Loan

Parameters Land Loan with Construction Regular Home Loan
Plot + Construction loan interest rates Rates are the same for a home loan, ‬but the plot + Construction Loan interest rates can be higher if you want the construction period to be longer than usual Interest rates are start from 6.75%
LTV Up to‭ ‬70%‭ ‬of the property’s value Up to‭ ‬90%‭ ‬of the property’s value
Tenure Up to‭ ‬15‭ ‬years Up to‭ ‬30‭ ‬years
Tax Benefits The plot loan availed for construction and its benefits can be claimed post completion of the construction On principal amount under section‭ ‬80C and interest amount under section‭ ‬24‭(‬b)
Prepayment Penalty Nil for individuals on floating rates Nil for individuals on floating rates

FAQs

What is the plot loan interest rate in Baroda Rajasthan Kshetriya Gramin Bank?

The interest rate starts at 8.90%

What is Baroda Rajasthan Kshetriya Gramin Bank Plot Loan?

The Plot Loan is provided by the bank for a borrower to buy a piece of land. It is up to the borrower to do whatever they wish to do with theland.

How much processing fee is applicable on Baroda Rajasthan Kshetriya Gramin Bank Plot Loan?

The processing fees for Baroda Rajasthan Kshetriya Gramin Bank Plot loan is a minimum of 0.25%

What is the loan tenure of the Baroda Rajasthan Kshetriya Gramin Bank Plot Loan?

Up to 30 years

How much EMI per lakh can be fixed on Baroda Rajasthan Kshetriya Gramin Bank Plot Loan?

The EMI per lakh depends on the loan amount.

How can I avail plot loan from Baroda Rajasthan Kshetriya Gramin Bank?

The basic eligibility criteria needs to be fulfilled. You need to have proper documents to advocate the eligibility.

How to apply for Baroda Rajasthan Kshetriya Gramin Bank Plot Loan?

You can go to the nearest bank branch or contact Dialabank via our website or call.

How to repay the Bank Plot Loan earlier than the schedule?

Borrowers can do extra payments to prepay the loan.

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

On the availability of enough funds, the borrower can pay back the loan earlier than schedule.

How to check Baroda Rajasthan Kshetriya Gramin Bank Plot Loan eligibility?

You can visiting the bank branch or the Bank website by contacting Dialabank.

What is the Baroda Rajasthan Kshetriya Gramin Bank Plot Loan phone number?

Baroda Rajasthan Kshetriya Gramin Bank Plot Loan enquiries can be made to Dialabank on 9878981144

What is the Plot Loan interest rate for women?

The Bank plot loan interest rate for women is 9.60%.

What is Baroda Rajasthan Kshetriya Gramin Bank plot loan interest rates for salaried individuals?

The Baroda Rajasthan Kshetriya Gramin Bank Plot loan interest rate for salaried individuals is 7.05% to 8.00%

What is Baroda Rajasthan Kshetriya Gramin Bank plot loan interest rates for self-employed professionals?

The Baroda Rajasthan Kshetriya Gramin Bank Plot Loan interest rates for self-employed professionals is 7.25% to 7.75%

What is Baroda Rajasthan Kshetriya Gramin Bank plot loan interest rates for self-employed non-professionals?

The Baroda Rajasthan Kshetriya Gramin Bank plot loan interest rates for self- employed non-professions is 7.25% to 7.75%

How is a plot loan different from a home loan?

An empty land is bought by the help of a plot loan. But a home loan is used to purchase an preexisting building or house.

Can I take a plot loan with a home loan?

Baroda Rajasthan Kshetriya Bank Plot Loan is not available along with a home Loan.

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

up to 70% of the property value.

Can a plot loan be taken on any plot, anywhere?

A plot loan can help you buy a land within pre decided municipal limits.

What is a Balance Transfer on Plot Loan?

The Balance transfer on plot loan can be taken at an interest rate beginning from 6.75%.

Do I get any tax benefits on a plot loan?

Plot loan when combined with a construction loan can garner tax benefits.

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

For a Plot construction loan, the borrower needs to begin construction on time.

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