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BankorBaroda

BCC:BR:103/433

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CIRCULAR TO

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Ociober, 2016

sRANCHES AND OFflCES IN INDLA

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Master Circular on
Baroda Mortgage Loan
[updated upto 30.09.2016]

Mortgages & Other Retail Assets Department

Bank of Baroda
Baroda Corporate Center
Mumbai.

1|Page

INDEX
Sr.No.

TOPIC

Page No.

(A)

Product Profile

(B)

ANNEXURES

Annex- 1

Deviation Powers

18

Annex- 2

List of documents to be submitted by the applicant

21

Annex- 3

Credit Rating Model for Mortgage Loan

23

Annex- 4 (a)

Pre-Sanction Inspection Report

26

Annex- 4 (b)

Post Sanction Inspection Report

28

Annex- 5

Format for seeking activity clearance

29

Annex - 6 (a)

Fraud Prevention check list Pre sanction stage

31

Annex - 6 (b)

Fraud Prevention check list Post sanction stage

32

Annex 7

Site Verification Report

33

Annex - 8

Application form for Baroda Mortgage Loan

34

2|Page

BARODA MORTGAGE LOAN

INTRODUCTION:
Two retail asset products were launched by Bank in 2003, namely Baroda Overdraft against
Property available at Metro and Urban branches and Baroda Property Loan available at semiurban and Rural branches, as a general purpose loan to be considered against the security of
immovable properties and to address the need of resident individuals for variety of personal
purpose such as medical treatment, investment, marriage or any unforeseen emergency.
Subsequently, the products were merged and renamed as Baroda Advance Against Property in
the year 2005. Since this product was meant only for resident Indians, a new product known as
Baroda Advance Against Property to NRIs had been developed to meet out financial needs of
NRIs against the properties acquired by them in India from their own sources.
Further, in addition to the scheme of Loan to Professionals, Bank had launched a new scheme
Baroda Kanya Vivah in 2004 (later on renamed as Baroda Marriage Loan) to meet expenses in
respect of marriage of self/ son/ daughter / dependent sister or brother, against mortgage of
immovable properties.
Subsequently w.e.f. 01.04.2009, the products Baroda Advance Against Property, Baroda Loan
against Property to NRIs/PIOs, Baroda Loan to Professionals and Baroda Marriage Loan which
are all secured by Mortgage of Immovable properties had been realigned and the product was
renamed as a single product Baroda Mortgage Loan.
In order to build a customer centric and competitive presence under Retail Lending, Bank has
reviewed the Mortgage Loan product with superior product features and competitive pricing
which will help the Bank to be the preferred bank for quality customers, while managing the risk
on the book and ultimately driving profitability for the Bank. Accordingly, major parameters of
Mortgage Loan scheme has been modified and introduced risk based pricing linked to Bureau
score of the applicant/s w.e.f. 23.05.2016.
The

key modifications as per the revised guidelines of Mortgage Loan include the following:
Risk Based Pricing - Bureau Score linked Rate of Interest
Stipulation of Bureau Score Cut off
Enhancement in maximum amount, income criteria, repayment capacity.
Relaxed margin & security norms
Stipulation of -2- valuations for facilities above Rs.1.00 Crores
Specific guidelines on addition of co-applicants

With the modifications in ceiling on maximum limit and substantial reduction in rate of interest
for quality proposals coupled with other modifications in the parameters/ guidelines, our Baroda
Mortgage Loan product have become more competitive and robust in the market.
The detailed features of the Baroda Mortgage Loan product are mentioned in the following
sections.

3|Page

BARODA MORTGAGE LOAN: PRODUCT PROFILE

No
1

Parameters
Target Group:

Guidelines
Individuals
Resident Indians
Non-Resident Indians (NRIs)
Existing Staff members are not eligible

Purpose:

For any purpose except for financial speculation of any nature.

Proposals from persons engaged in Real Estate Developments, Property
Dealers / Brokers, Share / Stock Brokers and persons engaged in any
speculative activity should not be considered..

Eligibility:

Resident Indians:

- Salaried / Professional, Self Employed, Business persons,

Agriculturists & Others, (whose income is considered for eligibility)
should be employed / engaged in business / profession for a
minimum period of -3- years.
- (Break in service can be allowed up to a maximum period of 3
months)
- Minimum Gross Annual Income (GAI) (average of last 3 years)
(inclusive of co-applicant/s,
whose income is considering for
eligibility): Rs. 3 Lacs

NRIs:
-

Non-Resident Indians (NRIs) holding Indian passport having a

regular job abroad in a reputed Indian / Foreign Company,
Organization or Government department.

Must be holding a valid job contract / work permit for minimum

past -2- years or employed / self-employed or having a business
unit and staying abroad at least for past -2- years.

Minimum Gross Annual Income (average of last 3 years)

(inclusive of co-applicant/s, whose income is considering for
eligibility): Rs. 5 Lacs

If the applicant / co applicant/s, whose income is considering for

eligibility includes both Resident and NRI, Minimum Gross Annual
Income, put together should be Rs.5 Lacs (inclusive of coapplicant/s, whose income is considering for eligibility)
Staff members are not eligible.
Addition of co-applicants:
The close relatives of the applicant can be added as a co-applicant for
higher eligibility, with or without being a owner / joint owner of the
property.

4|Page

If the borrower wants to add any person who is not a close relative as a
co-applicant, same can be considered only if he / she is the owner /
joint owner of property.
In case, the income of a owner / joint-owner/s of property, if any, is not
considered for eligibility, he / she should be made as an applicant / coapplicant. In such cases, upper age criteria / employment criteria will
not be applicable for these applicant / co-applicants.
List of Close Relatives:

Age

Spouse, Father, Mother (including Step Mother), Son (including Step

Son), Sons wife, Daughter (including Step Daughter), Daughters
husband, Brother / Sister (including Step Brother / Sister), Brothers
wife, Sisters husband, Sister (including step sister) of spouse, Brother
(including step brother) of spouse.
Minimum: 21 years
Maximum: 60 years

Type of Facility

(Applicants / Co-applicants age + Loan tenure should not exceed

retirement age for salaried class and 65 years for NRIs & others)
Term Loan / Demand Loan
Overdraft

Limit
(Ticket Size)

(Income
Multipliers)
Income criteria

In case of Overdraft, minimum annual turnover in the account

should be at least 25% of the limit.

NRIs will be granted Term Loan / Demand Loan only.

(i.e., NRIs are not eligible for Overdraft facility)
Minimum: Rs.2.00 Lacs
Maximum: (For all category of borrowers):

Metro branches
: Rs.10.00 Crores
Urban branches
: Rs.5.00 Crores
Semi Urban branches : Rs.3.00 Crores
Rural branches
: Rs.25 Lacs
Salaried:
GMI up to Rs.75,000/: -30- times of GMI
GMI above Rs. 75,000/- upto Rs.3.00 Lacs : -48- times of GMI
GMI above Rs.3.00 Lacs
: - 60- times of GMI

Others:
GAI upto Rs.5 Lacs
GAI above Rs.5 Lacs upto Rs.8 Lacs
GAI above Rs.8 Lacs

: -5- times of GAI

: -6- times of GAI
: -8- times of GAI

Income to be considered for multiplier:

For Salaried Persons: Average of last 3 months Gross Monthly Income
(GMI).

5|Page

For Others: Average of last 3 years Gross Annual Income (GAI).

If agriculture / any other regular income is declared in the IT return, the
same can be considered for eligibility.
Note:
Income of co-applicant/s can be combined for higher eligibility. However,
number of co-applicants, whose income is considered for eligibility to be
restricted up to -3-.

If the income of co-applicant/s is accepted for the purpose of

addition of their income to the income of principal applicant for
arriving higher eligible limit, sustainability of income of co-applicant/s
has also to be ensured and assessed in the same line of salaried /
non-salaried / agriculturist etc as the case may be.

In case of Agriculturists who are predominantly dependent on

agriculture and not required to file income tax returns, their income
may be assessed by obtaining latest income certificate from the local
competent revenue authority.
The income mentioned in the certificate must be assessed properly
taking in to consideration land holding of the Agriculturist, area of
land actually being cultivated by him, cropping pattern and acreage
under different crops together with number of crops harvested in a
year depending on availability of irrigation facility etc. The
assessment of income so arrived must be properly recorded with
justification in the Appraisal Note.

[In such cases of agriculturists, the latest income as assessed, based on

the certificate from the competent authority (instead of average of last
3 years Gross Annual Income) can be considered for the purpose of
Income Multiplier & FOIR]
8

FOIR- Fixed
Obligation to
Income Ratio
(Repayment
Capacity)

All category of borrowers:

GMI up to Rs.75,000/: 50%
GMI above Rs.75,000/- to Rs.3.00 Lacs : 60%
GMI above Rs.3.00 Lacs
: 70%

The same base of the income as considered for Income Multiplier

(Income criteria) to be considered for FOIR (Repayment capacity)
also.

i.e., For Salaried Persons: Average of last 3 months GMI (Gross Monthly
Income)
For Others: Average of last 3 years GAI (Gross Annual Income)

Deductions to be considered from the last months GMI (for salaried

persons) or Last years Annual Income (for others)

Deductions include Income Tax, PF, Professional Tax, EMIs of

existing borrowings and other deductions, if any.

6|Page

In case of Overdraft, repayment capacity norms should be applied as if a

Term Loan is sanctioned for a period of -144- months or maximum
maturity as per the age criteria of the borrower whichever is lower.
9

Pricing
(Rate of
Interest)

Applicable rate of interest on Mortgage Loan will be based on CIBIL

Bureau score of the applicant / co-applicants, whose income are
considered for eligibility:
CIBIL cut off
Scores **

Rate of Interest

800 & above

MCLR -1 Year + Strategic Premium + 1.75%

760 & above but less

MCLR
than 800
725 & above but less
MCLR
than 760
675 & above but less
MCLR
than 725
Less than 675
MCLR
-1 / 0
MCLR
** CIBIL Trans union Score as
Point No.10 below)

-1 Year + Strategic Premium + 2.25%

-1 Year + Strategic Premium + 2.50%
-1 Year + Strategic Premium + 3.00%
-1 Year + Strategic Premium + 3.50%
-1 Year + Strategic Premium + 2.50%
per version.1 (Cut off score is detailed in

At the time of Review:

For sanctions w.e.f. 23.05.2016 (Demand Loan/Term
Loan/Overdraft):
At the time of annual review of accounts (with respect to
sanction date), the Risk based pricing linked to CIBIL score of the
borrowers to be applied.
As such, effective ROI from the date of review will be based on
the CIBIL score of the borrower. The credit spread based on the
CIBIL score applicable as per respective scheme prevailing at the
date of review, to be added to 1 year MCLR+ Strategic Premium
for arriving the effective ROI for the particular account.
For sanctions prior to 23.05.2016:
For Term Loans & Demand Loans sanctioned prior to 01.04.2016
and continuing with Base Rate system:
The same ROI structure with existing spread over Base rate will
be continued till its maturity/repayment and existing rules of
Base Rate will be applicable. At the time of review, same ROI
structure with existing spread over Base Rate will continue. Risk
based pricing linked to CIBIL score need NOT to be carried out
for Term Loans & Demand Loans sanctioned prior to 01.04.2016
and continuing with Base Rate system.
For Term Loans & Demand Loans sanctioned prior to 01.04.2016
and subsequently opted for MCLR linked reference rate:
At the time of Review, same ROI structure with existing spread
over 1 year MCLR+ strategic Premium will continue without Risk
based pricing (linked to CIBIL score).

7|Page

10

Bureau score
Validations

In case the borrower opts conversion to MCLR at the time of

review, the existing credit spread over Base Rate for the
particular account to be added to 1 year MCLR+ Strategic
premium for arriving the effective ROI from the date of review.
Mortgage Loans sanctioned as a Term Loan from
01.04.2016 to 22.05.2016 also, risk based pricing linked
to CIBIL score of the borrowers will not be applicable at
the time of annual review.

For Overdraft accounts sanctioned prior to 01.04.2016:

For overdraft account, at the time of annual review, the rate of
interest to be converted from Base Rate to MCLR linked reference
rate invariably.
Further, for Overdraft accounts, at the time of annual review
(with respect to sanction date), the Risk based pricing linked to
CIBIL score of the borrowers to be carried out.
As such, effective ROI from the date of review will be based on the
CIBIL score of the borrower. The credit spread based on the CIBIL
score, prevailing at the date of review, to be added to 1 year MCLR+
Strategic Premium for arriving the effective ROI for the particular
account.
Cut off on CIBIL score is stipulated at 725 for taking fresh exposure.

If more than one applicant is there, AVERAGE of Bureau scores of

the applicants (whose income are considered for eligibility), to be
considered for Cut off score for sanction of loan as well as for
Pricing.

In such cases, bureau score of applicant/s having (-1) or (0) to be

excluded for average calculation.

However, in such cases of joint applicants, individual CIBIL score of

all the applicants (whose scores are considered for average
calculation) should be minimum 675.

Deviations in Bureau Score validations:

1. Deviations in Bureau score (i.e. for less than 725) can be considered
for existing as well as new customers with proper justifications which
are to be mentioned in the Appraisal Note.
2. Proposals of applicant/s having CIBIL score of (-1) or (0) can be
considered by the Sanctioning authority, without deviations, for
existing as well as new customers.
3. Cut off CIBIL score 675 to less than 725: Deviation decision with
RMCC. (If number of applicants whose income is considered for
eligibility is one.)
In case of more than one applicant, if average score is 675 to 724
and / or any of the applicant/s score is less than 675 - Deviation
decision with RMCC.

8|Page

4. Cut off CIBIL score less than 675: Deviation decision with ZOCC and
applicable ROI will be with maximum spread as per the product. (If
number of applicants whose income is considered for eligibility is
one.)
In case of more than one applicant, if average score is less than 675
and / or any of the applicant/s score is less than 675 - Deviation
decision with ZOCC. (Applicable ROI will be with maximum spread as
per the product).
i.e. Deviation Matrix in case of more than one applicants:
**Average Score
And /or
Deviation
(Cut off Score)
** Individual/s score of any powers
of applicant/s
675 to 724
Less than 675
RMCC
Less than 675
Less than 675
ZOCC
Average Score (Cut off Score) 725 and above; BUT RMCC
Individual/s score of any of applicant/s is less than 675
Average Score (Cut off Score) 725 and above AND No Deviation
Individual score of all applicants are 675 & above.
required
** Excluding applicants having score of (-1) or 0
Note:
(a) Bureau score of applicants having (-1) or (0) to be excluded for
average calculation and for deviation.
(b) Bureau score validations are applicable only for applicant/s whose
incomes are considered for eligibility.
(c) In case of multiple deviations in Bureau score to be considered at
various levels (i.e. one at RMCC & another at ZOCC), all the
deviations in Bureau score to be considered at higher level (ie.
ZOCC).
(d) At the time of review, in case of Term Loans & Demand Loans,
deviations in CIBIL score, if any, need not to be referred to deviation
authority as mentioned above. However, pricing should be linked to
CIBIL score as per the applicable interest rate structure.
(d) Credit Card default:
Cases where credit card account status write-off / settlement
involving amount upto Rs.25,000/- No deviation is required (in
case of fresh, review with increase & takeover proposals)
Cases where credit card account write-off / settlement involving
amount above Rs.25,000/- took place in the past: Deviation
powers rest with the authorities as under:
Parameter
For proposals falling upto the powers of RMCC

Authority
ZOCC

For proposals falling under the powers of ZOCC

COGM - BCC

In case of review of accounts, sanctioning authority may

take a view in all such cases without referring for deviation.
While accepting the credit card account write-off / settlement
above Rs.5000/- sanctioning authority to ensure the following:
No Due certificate from the Bank / FIs be obtained in
respect of credit card account

9|Page

11

Security
Margin

Borrower is impressed upon for updation of satisfactory

status with the concerned Bank / FIs, preferably within
stipulated period.
Ensure that Bureau Report of the applicant/s contains no
other adverse remarks.

Margin : 40% on Realizable Value of immovable properties

Security: Mortgage of Immovable Properties:
-

Residential Property (House / Flat)

Commercial property (Building / Land & Building)
Plot of Land (not agricultural land)

(Prior to 23.05.2016, in case of plot of land, the same allotted by /

purchased from any Development / Government Authority only was
allowed. Otherwise the same was considered with deviation from Zonal
authority. However, w.e.f. 23.05.2016, with the modifications in the
parameters/guidelines of the product, all such stipulations have been
removed and any type of immovable property as mentioned above are
acceptable)

12
13

Personal
Guarantee
Repayment
Period

Note:
If the property is purchased within last -3- years, the Registered
Value should be considered.
In case plot of land, it should be identifiable by boundaries /
demarcation.
In case of any type of Tenanted properties, adequate measures
to be taken to safeguard Banks interest. Guidelines of Circular
No. BCC:BR:106/406 dated 14.10.2014 issued by Legal
Department, BCC regarding precautions to be taken while
accepting tenanted property as security should be followed
scrupulously.
Third party personal guarantee may not be insisted upon.
Term Loan : -120- months
Moratorium period: Maximum -3- months. Interest to be recovered
separately as & when applied in the account during moratorium period.
For Agriculturists: To be fixed as annual / Half yearly repayment for
principal and interest considering the harvesting pattern and / or other
sources of income.
Overdraft : -12- months; subject to annual review
In case of Overdrafts:
Repayment capacity norms should be applied as if a Term Loan is
sanctioned for a period of -144- months or maximum maturity as
per the age criteria of the borrower whichever is lower.
Interest to be recovered as and when applied in the account.
Minimum annual turnover in the account should be at least 25% of
the limit.

10 | P a g e

Wherever it is observed at the time of review that stipulation of

annual turnover is not complied with, the limit should be reduced
annually as under:
Maximum period of overdraft: 12 years.
Reduction in operative limit proportionately by end of each year,
synchronizing with review of the account.
Alternatively branch may explore the possibility of converting the
overdraft facility into Term Loan and fix EMI for recovery of the
balance amount.

The facility may be continued without any condition of reduction till

the maximum age specified above, if desired by the borrower,
subject to:
Annual review & satisfactory conduct of the account
Minimum annual turnover in the account is at least 25% of the
limit.

With a view to take care of the periodical reduction in the operative

limit in case of Overdraft facility, following clause be added in the
loan application and sanction (at the time of initial sanction / review
of the facility) letter:
The Bank shall have the right to progressively reduce the limit of
overdraft sanctioned hereby every year/ month from time to time
during the availment of the OD limit. However, it is agreed and
understood that such commitment for progressive reduction in the
overdraft limit is and will be without prejudice to the rights of the
Bank to call for accelerate and demand repayment of entire
outstanding amount in overdraft limit at any time and from time to
time

Adoption of Specific Pre fixed EMI dates for Retail Loans:

As per the guidelines conveyed vide Circular No.BCC:BR:108/404 dated
02.09.2016, Branches have to adopt prefixed specific dates - 08th or
16th or 25th as EMI dates for all Retail Loans, out of which the
preferable date convenient to the borrower, considering the salary date/
monthly remittance dates etc. In any case, even in case of loans with
moratorium also, the dates - principal demand date/ interest demand
date/ first repayment start date should be uniform for a particular
account and should be 08th or 16th or 25th. The above guidelines are
applicable to all the fresh sanctions of Retail Loans w.e.f. 10.09.2016.
14

Unified
Processing
Charges

Bank has revised the unified processing charges and modified method of
recovering processing charges w.e.f. 01.07.2016 as under:
1. The unified processing charges will include:
Processing Charges
Documentation charges
Document Verification/ vetting charges
Pre- sanction Inspection (Contact Point Verification-CPV) charges
One time post inspection charges
Advocate charges for legal opinion
Valuer charges for valuation

11 | P a g e

 Bureau report charges

CERSAI charges
ITR Verification charges
2. For Mortgage Loans, certain minimum amount of processing charges
will be recovered upfront. Balance amount of processing charges will
be recovered at the time of conveying sanction of the loan.
3. Further, stamp duty payable on various loan documents/
agreements as well as for equitable mortgage shall be recovered
separately on actual basis.
The revised unified processing charges for Mortgage Loans w.e.f.
01.07.2016 is as under:
Loan:
1% of Loan amount with maximum Rs.1,50,000/Minimum: Rs.7,500/- (upfront)**. Balance amount of processing charges
will be recovered at the time of conveying sanction.
Over Draft:
Upto Rs.3.00 Crores: 0.35% of limit with maximum: Rs.75,000/Above Rs.3.00 Crores: 0.25% of the limit without any maximum.
Minimum: Rs.7,500/- (upfront)**.
Balance amount of processing
charges will be recovered at the time of conveying sanction.
** The above upfront charges considered as if only one property is
offered as security. If two or more properties are offered as security,
Rs.7,500/- per additional property would be applicable as upfront
charges in addition to minimum upfront charges as mentioned above
(subject to overall stipulated maximum processing charges).
Review Charges:
No charges on Review in case of Term Loan / Demand Loan
accounts.
In case of Overdraft accounts, the processing charges as
mentioned above to be recovered as review charges. i.e.,:

Upto Rs.3.00 Crores: 0.35% of limit with maximum:

Rs.75,000/(Minimum Rs.7,500) + ST
Above Rs.3.00 Crores: 0.25% of the limit without any
maximum (Minimum Rs.7,500) + ST

For Overdrafts accounts, processing charges are on per annum

basis, i.e. if a proposal is reviewed after six months from
the due date for a further period of 12 months,
processing charges are to be levied for 18 months.
In case of review with enhancement, the review charges to be
taken for entire amount of limit including enhanced portion.
However, if the enhancement is before the due date of next

12 | P a g e

review, processing charges to be taken for the proportionate

period for the existing limit and full processing charges to be
taken for the enhanced portion.
Eg: Sanctioned/ last reviewed on: 01.01.2016 for Rs.50 Lacs
Enhancement to Rs.60 Lacs on : 30.06.2016
Processing Charges to be calculated as under:
For Rs. 50 Lacs: Proportionate charges for 6 months
For Rs.10 Lacs : Full processing charges
15
16

Mortgage
Creation
Charges
Prepayment
charges

Mortgage Creation Charges as per extant guidelines will be applicable

Pre payment within -12- months after initial sanction : 2% **

Prepayment after -12- months after initial sanction

: Nil

** Overdraft facility: Prepayment charges will be calculated on the

sanctioned limit.

17
18

Penal Interest
Valuation of
Property

** Term Loan: Prepayment charges to be calculated based on

amortization balance as per repayment schedule.
2% p.a. on overdue amount.

The property being accepted as security should be got valued by our

Banks approved valuer at the time of considering the facility.

In case of limit above Rs.1.00 Crore, 2nd valuation of the property

also to be obtained and to be satisfied upon. The lower of the -2valuations to be considered while calculating the limit.

19

Age of building
to be
mortgaged

In case of properties acquired within last -3- years, amount of

Registered Sale Deed or the Realisable Value whichever is lower
should be taken as value of property.

If the present Realisable value is higher than the Registered

value (Registered within last 3 years) and if it requires to consider
present Realisable value as value of property, for any reason, prior
permission from Regional Authority to be obtained for the same.

The age of building should not exceed 25 years.

Building more than 25 years old may be accepted as security, subject
to approval of Regional Authority, who will ascertain structural
soundness of the building by obtaining opinion and certificate from
approved engineer, about structural soundness of the building and its
residual life. The residual life of the building should be at least 5 years
more than the term of the loan.

13 | P a g e

20

Insurance

21

Takeover
of
mortgage loan
accounts from
other banks
Legal
opinion Legal opinion to be obtained from Banks approved advocate as per
about
Title extant guidelines.
Deeds
Lending
Sanctioning authorities upto Grade/Scale III are authorized to
Powers
sanction facility upto Rs. 25.00 Lacs only.

22
23

Insurance of the property taken as security as per the valuation report

for full value excluding cost of land. The charges to be borne by
borrower/s.
Mortgage Loan can be taken over from other banks / financial
institutions by following the extant guidelines in respect of takeover of
Borrowal accounts.

Sanctioning authorities in Grade/Scale IV and above are authorised to

exercise their normal DLPs for sanction.

24

Deviation
Powers

Financial/non-Financial Deviations/Concessions in respect of scheme

parameters/ guidelines may be considered as per Circular No.BCC: BR:
108/53 dated 29.01.2016.
(Details pertaining to Mortgage Loan is given in Annexure -1)

25

Documentation

26

Credit Rating

Site Verification Report to be enclosed while submitting deviation

proposals to BCC.
Loan:

D. P. Note

Documents related to mortgage of property

General form of Guarantee (in case of third party guarantee is

stipulated)

Letter of installments

Declaration cum undertaking cum authority

Overdraft:
1. D. P. Note
2. Documents related to mortgage of property
3. General form of Guarantee (in case of third party guarantee is
stipulated)
4. Letter of continuing security
5. Declaration cum undertaking cum authority
Credit rating will be done as per existing guidelines under Secured Loan
Rating Model and Loan shall not be extended to the borrowers getting
scores below cut-off mark.
Cut off Score is 111 & Investment Grade is SL 7 & above.
Details of rating parameters are given in Annexure-3

27

Activity
Clearance

Activity Clearance for Sanctions under this product is required to be

obtained from Regional Heads for facilities upto Rs.3 Crores and for
facilities beyond Rs.3 Crores Zonal Heads are authorized to grant
Activity Clearance.
Proposals being considered by SMSs and Centralised Processing Centre
(CPC) are kept out of purview of Activity Clearance.

14 | P a g e

28

Other
guidelines

1.

Application form as per Annexure-8 is to be used.

2.

On receipt of the application form, the same should be scrutinized

to ensure that application has been completely filled in and all the
necessary relevant papers particularly pertaining to identity of the
applicant, residence, employment / business and property to be
purchased/ constructed has been enclosed to the application form.

3. It is mandatory for all operating units to feed the details of all type
of Retail Loan applications received at Branches/SMSs in the Loan
Tracking System (LTS).
4. The information collected during verification and interview should be
noted and the same should be re-checked by an officer of the
branch/SMS to ensure that requisite information has been furnished
in respect of all the parameters stipulated.
5.

The interview with the applicant/s should usually cover:

Cross checking of details furnished in the application form.
Details of his/her employment, business, his/her existing
residence and the present bank.
If the location of the property, business place of the borrower,
residence and the branch where he/she has applied for the loan
is at far off places from each other, this should be inquired into.

6. Details of assets and liabilities mentioned by the applicant in the

application form should be verified from the relevant documents.
7. The details of applicant about his/her employment, business and
residence, furnished in the application should be cross checked
telephonically by making call to his/her residence/business
establishment/employer.
8. Documents submitted for identity and proof of residence i.e. Ration
Card/ photo-identity card/Aadhar Card/ PAN card/ Driving License/
Passport etc should be properly scrutinized and to be verified from
originals to confirm genuineness of the documents submitted. A
noting to this effect should be made on photocopies and kept on
record.
9.

Credit Information Reports (CIR) from Bureaus in respect of

applicant/s and guarantor should be generated and meticulously
verified.
Presently our Bank uses CIBIL Trans Union Score under Version
-1 for risk based pricing for Mortgage Loans.
In case of NRIs:

Disbursement amount to be credited to NRO account of the

borrower maintained with our Bank
The repayment of the loan may be made by debit to NRE / FCNR

15 | P a g e

/ NRO accounts of the non-resident borrowers or out of inward

remittances by the borrowers.
Close relatives of the borrower in India may also repay the
instalments/ loans, interest and other charges, if any, through
their bank account directly to the borrower's loan account.
In terms of RBI guidelines, it is to be ensured that the proceeds
of Rupee Loan are not utilised for any of the following activities:
The business of chit fund, or
Nidhi Company, or
Agricultural or Plantation activities or in Real Estate
business, or construction of Farm Houses, or
o Trading in Transferable Development Rights (TDRs), or
o Investment in capital market including margin trading and
derivatives.
An undertaking to this effect to be obtained and kept on record
o
o
o

29

Preventive
measures

1. KYC guidelines should be very meticulously and strictly complied

with, which include proper verification / cross checking of
information submitted by the applicants for their identity.
Documents submitted for identity and proof of residence i.e.
copy of ration card/ photo-identity card/ PAN card/ driving
license should be properly scrutinized and also verified with the
originals. Noting for having verified with the originals should be
made on relative documents and report kept on record.
2. Evidences of Income of the borrowers and Cash Flow for the
entire loan tenure to be critically examined and ensured that
sufficient surplus is available for meeting actual /notional loan
obligations.
3. Credit Information Reports (CIR) from Bureaus in respect of
applicant/s and guarantor should be generated and meticulously
verified. CIR from Bureaus provides a testimony of loan
aspirants financial discipline to Banks and financial institutions
for taking a credit decision. A healthy Bureau Report and a high
Bureau Score indicates that the applicant managing his/her loans
and credit relationships well and are financially savvy. It is
therefore vital to understand the various elements of a credit
report well.
4. Presently our Bank uses CIBIL Trans Union Score under
Version -1 for risk based pricing for Mortgage Loans.
5. Market Reports / Credit Information to be obtained and
examined to ensure credit worthiness of the borrower/s.
6. All the guidelines for creation of valid mortgage issued from time
to time, to be meticulously followed.
7. Valuation of property should be justified and realizable in case of
need.

16 | P a g e

8. Check list for various activities (upto sanction stage & post
sanction stage) are required to be prepared by the Appraising
/Recommending Authority and to be verified by the Branch Head
under his signature and to be kept with the loan documents for
its verification by the Inspectors /Auditors (Check list attached as
Annexure- 6(a) & 6 (b) for ready reference)
9. Regular Inspection of securities to be ensured and reports to
may keep on record.
10. Accounts are required to be closely monitored and warning
signals, if any, not to be ignored at any cost and necessary steps
must be initiated immediately.
30

FINACLE
CODES &
ASCROM
CODES

Product
Baroda Mortgage Loan General
Baroda Mortgage Loan - NRI
Baroda Mortgage Loan Overdraft
Baroda Advance Against
Property (old)
Baroda Advance Against
Property to NRI (old)
Baroda Loan to Professionals
(old)
Baroda Marriage Loans (old)

Finacle Code

Ascrom Code

LA201

909

LA202
OD016

910
911

LA118, OD005

231, 232

LA119

234

LA142, LA143

253

LA144, LA145

707

17 | P a g e

ANNEXURE 1: Guidelines on Deviation Powers for Mortgage Loans.

POWERS for FINANCIAL DEVIATIONS (CONCESSIONS) i.e. Deviations having direct impact on
Banks Profit & Loss Account
Parameter
Deviation/
Concession

1.

for

To reduce the Rate of

Interest:

Regional
Level
Credit
Committee
(RMCC)

Zonal Level
Credit
Committee
(ZOCC)

No Powers

No Powers

Committee of
General
Managers on
Retail
Banking
&
SME Banking
at BCC
No Powers

Powers to consider concession in Rate of interest to be given subject to the condition that the
effective rate after concession should not go below the Base Rate.
Deviation charges are not applicable to proposals for concessions in Rate of Interest.
Deviations exceeding the powers of Committee of General Managers on Retail Banking & SME
Banking at BCC are to be considered by COCC (ED).
POWERS FOR NON-FINANCIAL DEVIATIONS for BARODA MORTGAGE LOAN

1.

Parameter
for
Deviation
To
exceed
maximum ceiling
of loan limit:

2.

Margin Norms:

3.

Other terms and

conditions:
Maximum Age

a.

Scheme Guidelines

(RMCC)

Eligibility Criteria on
the basis of Income

COGM (BCC)

For Rural Branches:

Rs.10/- Lacs
For other Branches:
Rs. 300/- Lacs.
Loan to professionals:
Rs.100/- Lacs
50% of the Distress market
Value

No Powers

No Powers

No Powers

Not less than

45% on the
Distress
Market Value

Maximum Age60 years.

No Powers

To
exceed
Present Age of
the applicant
+ Overdraft /
Loan Tenure
upto 75 years
of applicants
age.
To exceed by
25%

Applicants Age + Tenure of

Overdraft /Loan should not
exceed 65 years.
b.

(ZOCC)

Salaried Class:
36 times of GMI

No Powers

Upto Rs.20/lacs
Upto Rs.500/lacs
Upto Rs.150/lacs
Not less than
40% on the
Distress
Market Value
No Powers

No Powers

Other Individuals:
5 times of Average Annual
Income (Last 3 years)

18 | P a g e

c.

d.

e.

f.

g.

To consider last /
current
years
income, as against
last three years
average income.
Parameter
for Scheme Guidelines
Deviation
Eligibility Criteria on Total Deductions, including the
the
installment/
Notional
basis of Repayment installment
/
repayment
Capacity
towards the proposed facility,
should not exceed 60% of the
Gross Income.
Extending
Regional Heads are authorized
Mortgage
of to consider not more than two
property to secure retail loans, against the same
more than one property.
Retail Loan / other
loans
(Subject
to
obtaining
two
Valuation
and
considering
the
lowest of the two
for calculation of
eligibility)
Fresh Valuation of
immovable property
in
case
of
purchase within
last -3- years

No Powers

No Powers

No Powers

(RMCC)

(ZOCC)

COGM (BCC)

No Powers

No Powers

Not
more
than
two
Retail loans
/other loans.

Not more than

three
Retail
loans
/other
loans.

In case of Property purchased Full Powers

Full powers
within last 3 years, the (Subject
to
amount of Registered Sale the condition
Deed is to be taken as value that Region /
of the Property- applicable to Zone
to
all mortgaged based Retail satisfy about
Loans such as Baroda Home the fair and
Loan
including
Home acceptable
Improvement Loan & AAA Valuation of
(except for takeover Home the property.)
Loans), Baroda Traders Loan,
Baroda Mortgage Loan and
other Retail Loans where
mortgage of property is
accepted as security
(Circular No.BCC:BR:105/534
dated 02.12.13)

Parameter
for Scheme Guidelines
Deviation
To
reduce
the
periodicity of 3
years for Valuation
of
immovable
property, in case of

No Powers

Not more than

four
Retail
loans
/other
loans

---

(RMCC)

(ZOCC)

COGM (BCC)

Full Powers

Full powers

---

19 | P a g e

h.

i.

j.

existing accounts
(Subject to the
condition
that
Region/ Zone to
satisfy about the
fair and acceptable
Valuation of the
property)
Age of Property
(Subject
to
compliance
of
extant guidelines)
To consider Baroda
Mortgage Loan /
Overdraft against
tenanted property
where the property
is given on lease to
other than PSUs,
Govt./Semi
Govt.
Enterprises, Large
Corporates, Banks,
Financial
Institutions
&
Insurance
Companies.
To accord Activity
Clearance Baroda
Mortgage Loan.
(Retail
Loan
Factories
have
been kept out of
purview of Activity
Clearance.)

Not more than 25 years.

Full Powers

Full Powers

---

Loan / Overdraft against

tenanted property should
not be considered in case the
property is given on lease to
other than PSUs, Govt./Semi
Govt.
Enterprises,
Large
Corporates, Banks, Financial
Institutions
&
Insurance
Companies.

No Powers

No Powers

No Powers

Activity
clearance
for
sanctions under mortgage
loan is required to be obtained
from Regional Heads for
facilities upto Rs.3.00 Crores
and for facilities beyond
Rs.3.00 Crores Zonal Heads
are authorised to grant
activity clearance.

For limit upto

Rs.3.00 Crs

Full Powers

--

Note: Baroda Mortgage Loan- Deviations in any other non-financial parameters, powers of which
are not specifically defined as above or not mentioned in the parameters of the specific scheme, may
be referred to Retail Banking Department, BCC for considering the same by COCC (ED) on selective
basis on merits.

20 | P a g e

ANNEXURE- 2
List of Documents to be submitted by the Applicant
1. Application Form duly filled and signed by applicant/guarantor (Annexure -8)
(Separate Form No. 135 is not required)
2. Two Passport Size Photograph of applicant/co-applicant/guarantor.
3. Bank A/c Statement for last 6 months.
4. Personal Identification Proof (Any one)
Photo Identity Card issued by present employer
Electoral I-Card
Passport
Driving License
PAN Card
Aadhar Card
5. Residential address Proof (Any one)
Electricity Bill
Telephone Bill (Land Line)
Electoral/Voters ID Card
Passport
6. For Salaried Class:
Latest salary slips for the last 3 months with break up and duly attested by the employer and
countersigned by the applicant.
Income Tax Returns along with Form No. 16 for last 3 years.
7. For Agriculturists:
Income certificate from appropriate authority like Tehsildar/SDO/BDO etc
8. For Others:
Income Tax Returns for last 3 years duly acknowledged by income tax authorities.
9. For Self Employed/ Professional:
Balance sheets and profit & loss accounts of the business/profession along with copies of
individual income-tax returns for the last three years, certified by a chartered accountant.
A note giving information on the nature of business /profession, form of organization, clients,
suppliers etc.
In case of NRIs:
1.
2.

3.
4.
5.
6.
7.
8.
9.

Copy of the employment Contract (If the contract is in any language other than English, the
same has to be translated into English and attested by Employer / Indian Embassy).
For Salaried: Certified copy of the latest salary slips for the past 6 months.
For Self Employed/ Professional:
Balance sheets and profit & loss accounts of the business/profession along with copies of
individual income-tax returns for the last three years, certified by a chartered accountant.
A note giving information on the nature of business /profession, form of organization,
clients, suppliers etc.
Copy of the Identity card issued by the current Employer.
Copy of latest work permit.
Copy of the Visa stamped on the passport.
NRE Bank accounts pass book or statement of account.
Overseas Bank Account Statement for the last 6 months.
Bio-data covering educational qualifications, age, job experience, nature of profession/ business
etc., with necessary proof.
Guarantor forms along with net worth proof / income proof.

21 | P a g e

10. Undertaking from the employer for remittance of monthly installment, wherever feasible, if
stipulated in the sanction.
11. A salary certificate / income statement duly attested by our foreign office (including subsidiary
office) or certified by the competent authority available in the country may be produced. This
may also include Chartered / Certified Accountants, officials of Inland Revenue Dept. (similar to
Income Tax Authorities in India) or any other agency specified for the purpose. Wherever
attestation is not possible, this may be submitted duly notarized.
Property Related Documents:

Original title deeds of the property offered for mortgage along with complete chain of title
deeds
Latest maintenance, Water Tax, Municipal Tax and any other such taxes paid receipt.
Non encumbrance letter from Co-op Society (wherever applicable)
Permission to create Equitable Mortgage from society / Development Authorities. (wherever
applicable)
Confirmation of society that Banks lien on society records is noted. (wherever applicable)
Any other documents specified by Banks panel advocate in the legal opinion/ title clearance
report.

22 | P a g e

Annexure - 3 : Credit Rating Model for Baroda Mortgage Loan (Secured Loan
Model)
Sl.No
1

Variable

Score

Explanation

Borrower Age (in years)

1 from 0 to 29
2 above 29 - upto 42
3 above 43 - upto 55
4 above 55
Educational Qualification
1 Doctorate / Post Graduate
3 Graduate
4 Diploma
5 Higher Secondary
6 < Higher Secondary
Marital Status
1 Married
2 Single
Mobility of Individual - Location
1 Has not changed location in past 3 years
2 Changed location once in past 3 years
3 Changed location more than once in past 3 years
Number of dependents
1 Zero
2 One
3 Two
4 More than two
Relationship with Bank
1 All banking done through Bank
2 Good track record
3 Short term relationship
4 No existing relationship
Employer Type
1 Govt/Public sector
2 MNC
3 Listed private sector companies
4 Professional
5 Unlisted private companies
6 Pensioners drawing pension from Bank of Baroda

MAX

MIN

-1

17

12

10

15

-5

15

-3

10

10

-5

-1
2
5
1
17
12
3
2
0
5
2
12
5
0
10
7
4
0

Dependents should include

dependent spouses

15
10
0
-5
15
12
10
5
7
7

7 Own business
8 Others/Pensioners drawing pension from others
Designation
1 Senior Management
2 Middle Management
3 Junior/ Clerical / pensioners
4
Self - Employed
Stability of Income
1 Income has been steadily increasing over the last 3
years

0
-3
10
8
0
3

Income has been almost the same over the last 3

years

3
4

Income has been unstable over the last 3 years

Income has been steadily decreasing over the last
3 years

-1
-5

10

Page 23

10

11

Proof of income of borrower

1 Income tax returns
2 Salary slip
3 Letterhead
4 No proof
Net worth to Loan Ratio

0
4
8
10

12

1 from 0 to less than 0.50

2 from 0.5 to 0.75
3 above 0.75 - upto 1.00
4 above 1.00
Net annual income of the borrower (in Rupees)

0
3
7
12

13

1 from 0.00 to less than 100000

2 from 100000 to 200000
3 above 200000 - upto 500000
4 above 500000
Fixed Obligations to Income Ratio
1

from 0.00 to less than 0.30

15

from 0.30 to 0.50

10

above 0.50 to 0.70

above 0.70

14

15

16

17

Borrower / Guarantor also a guarantor for someone

1 No
2 Yes
Type of Collateral (% of Liquid Security to Total Coll.
1 above 75% Liquid securities & remaining
Immovable collateral

Net worth = Movable +

immovable assets - liabilities

10

Gross monthly income*12 (monthly PF deduction*12 +

professional tax - tax rebates)
For self-employed borrowers, avg
annual income over last 3 yrs

12

FO = Monthly repayment of any o/s

loans + emi of the proposed loan +
Maintenance + property taxes. In
case of more than one borrower,
use sum of numerator by sum of
denominator method to determine
FOIR

15

-2

20

10

10

-10

20

from 50 to 75% Liquid securities & remaining

Immovable collateral

15

from 25 - to less than 50% Liquid securities &

remaining Immovable collateral

12

less than 25% liquid securities & remaining

Immovable collateral.

10

3
-2

Price volatility (to be scored for > 75% Liquid securities

1 Highly volatile
2 Somewhat volatile
3 Stable
Price volatility & Marketability (to be scored for 25 1 Liquid securities Highly or somewhat volatile &
Immovable collateral with low or average
marketability

6
6
5
2
0

-10
0
10
-10

If Liquid securities between 50-75% & Liquid

securities highly or somewhat volatile but
Immovable collateral with high marketability.

If Liquid securities between 50-75% & Liquid

securities stable but Immovable collateral with low
or average marketability.

If Immovable collateral between 50-75% &

Immovable collateral with high marketability but
Liquid collateral highly or somewhat volatile.

If Immovable collateral between 50-75% &

Immovable collateral with low or average
marketability but Liquid collateral stable.

Liquid securities stable & Immovable collateral

with high marketability

10

Only one of these three

parameters 16/17/18 (Price
Volatility, Price Volatility &
Marketability & Marketability)
can be scored for a borrower
based on the level of liquid vs
immovable collateral provided).

Page 24

can be scored for a borrower

based on the level of liquid vs
immovable collateral provided).

18

19

Marketability (to be scored for > 75% of Immovable

1 Low
2 Average
3 High
Coverage provided by collateral

-10
0
10
Amt of Security over Loan
amount
0
5
10
20
25

21

1 from 0 to less than 0.25

2 from 0.25 to 0.50
3 above 0.50 to 1.00
4 above 1.00 to 1.50
5 above 1.50
Number of Guarantors
1 Above 2
2 from 1 to 2
3 0
Guarantor's Net worth to Loan Ratio

0
1
2
3

22

1 from 0 to less than 0.50

2 from 0.5 to 0.75
3 above 0.75 to 1.00
4 above 1.00
Fixed Obligations to Income Ratio of Guarantor

1
2
3
4

3
2
1
0

20

from 0. to less than 0.30

from 0.30 to 0.50
above 0.5 to 0.70
above 0.70

25

13

219

-14

13
6
0

In case of more than one

guarantor, use sum of
numerator by sum of
denominator method to
determine FOIR

Sum
Grade and Cut off Score
Score

Grad
e

0-70
71-90
91-110
111-120
121-130
131-140
141-150
151-160
161-170
171-219
Cut-off score is 111 and investment grade is SL-7

SL-10
SL-9
SL-8
SL-7
SL-6
SL-5
SL-4
SL-3
SL-2
SL-1
Page 25

PRE-SANCTION VISIT REPORT FOR RETAIL LENDING

1.

NAME OF THE APPLICANT

Mr./Ms/Smt.

2.

FATHERS/HUSBANDS

Mr.

RESIDENTIAL ADDRESS

4.

PURPOSE OF LOAN

5a)

NAME OF THE PRODUCT/

ARTICLE TO BE
PURCHASED
NAME OF THE SUPPLIER
PRUCAHSE PRICE

:
:

5b)

GENUINESS OF
QUOTATION VERFIED

Rs.

(Inclusive of all taxes)

a) OVER PHONE NO.
b) NAME OF THE PERSON CONTACTED
a) BY PERSONAL VISIT
b) NAME OF THE PERSON CONTACTED

6.
7.

DATE OF VISIT
:
PROOF FOR VERIFICATION OF
RESIDENTIAL ADDRESS
Ration Card No.
Voter ID Card
No.
Electricity/Telephone bill (-1- bill older
than 6 months and 1- latest bill)
Residence is
Owned Rented Leased

whichever is applicable)

Passport No./PAN No.

Rental Agreement

Whether residing with parents/relatives

Provided by Employer

( whichever is applicable)

Place visited with Identification Landmark

8. OCCUPATION OF APPLICANT (GIVE DETAILS)
(a) SERVICE
(b) BUSINESS
A)
i)
Name of Employer
Name of the firm
ii)
Address
Address

iii)
iv)
v)
vi)

vii)

Designation
Working Since
Employee No.
Whether confirmed/
probation / or on
contract basis
Phone No.

Applicants position in the firm

Established since
Nature of Business

C)
i)
ii)

SELF-EMPLOYED & PROFESSIONAL

Occupation
Address

iii)

Phone No.

Office

Office

9. EMPLOYMENT DETAILS
Details verified by/through
Personal visit to Office on
Name of person contacted
10.

Residence

Residence

Mobile

Mobile

Over Tel.No

GROSS ANNUAL / MONTHLY INCOME

Rs.
Details verified from:
a. Form No.16 (for the financial year ended )
b. Salary Slip (for the month of ...)
c. Income tax Return for . years (along with original copy of Tax Challan Period ..)
d. Number of dependants
e. Total annual/monthly deduction
Rs:
f. Net annual /monthly income
Rs.

26 | P a g e

11.

12.

PRESENT BANKERS
Name of the Bank
Type of A/c
Details of A/c verified from Bank Statement/Pass Book
Cheque returned number of times:

LOAN OUTSTANDING
Name of the Branch
Type of Loan
Amount Sanctioned
Balance Outstanding
Amount of Overdues ,if any
Asset Classification

:
:
:
:
:
:

Branch
A/c No.
(Copy obtained on record)

WITH OUR BANK

WITH OTHER BANK

Rs.
Rs.
Rs.

Rs.
Rs.
Rs.

13.

DETAILS OF THE PROPERTY TO BE PURCHASED (to be filled in case of Housing Loans)

(Loan requested for ()
Purchase of
Ready Flat
Purchase of
Repairs &
Take over
Construction of
land
Old House
Renovation
from Other
house
Bank

Sale Amount
Value as per Valuation Report, value
indicated in the sale deed may also
Abe taken into account. In case of
wide variation, comments required.
Name of the person representing
seller contacted & details verified
Area in Sq.ft. as per sale agreement
Whether owner occupied or rented or
leased out

:
:

Rs.

:
:
:

a. Present stage of constructions

b. Report / Valuation from Architect / Engineer Obtained
c. Nearby landmark for identification:

Yes

EAST

WEST

NORTH

SOUTH

13.

No

COMMENTS OF VISITING OFFICER

Place:_________________
Date: _________________

_____________________________
SIGNATURE OF BANKS OFFICIAL
NAME :
DESIGNATION :

27 | P a g e

BRANCH:__________________________________
PERIODIC ASSET VERIFICATION REPORT (POST DISBURSEMENT )-IN CASE OF RETAIL LOANS
1.
2.

3.
4
5.

6.

7.

Name of the Applicant

Address of the place
visited :Residence
/shop/office
Phone No.
Date of visit
Sanction Details

:
:

Details of last
Disbursement made

:
:

Purpose of Loan

10

Date of Sanction

Date:
:
Amount
:
Mode
:
By Bankers Cheque / DD No.
Favouring
.

Present outstanding balance Rs..(with overdues if any

Rs)
Whether Invoice & Stamp Receipt Obtained?
YES / NO
IF YES:
Invoice No
Dated.
Issued by.
Receipt No
Dated..
Details of Goods / Articles / Furniture Purchased & Physically verified
(a)
Description
:
Make / Model No.
:
Colour
:
Manufactured by
:
In case of Vehicle
(b)
:
Type of Vehicle -Scooter /
:
Moped / M-Cycle /Car
Make / Model No.
:
Engine No. to be verified
:
Chasis No. from the vehicle
:
Colour of the vehicle
:
Registration No.
:
Condition of Vehicle
:
Blank TTO forms obtained
: YES /NO
Whether Bank's Lien Noted in
: YES/NO
RC Book with RTO
Was the Vehicle brought to Branch for Inspection - Yes / No. If Yes, give date.
Insurance
Name
:
of Insurance Co.
Valid upto
Whether Bank's clause is appearing in Insurance Policy:Yes/No
Under comprehensive : Yes/No.
In case of Housing Loan :
Purchase
of
Ready
Purchase
Repairs
&
Take over
Construction of
:
Loan availed for ( )
Land

Amount of Loan
Rs.

Flat

Location /address of the Property

Present Status/ Stage of Construction

Status of Occupation ( )
Value as per valuation report/approx.
exp incurrent on repairs/ renovation
Date of last valuation
Whether Insurance taken under UniHome Care Policy/NIC-Baroda Home
Loan Suraksha Bima Policy

:
: Self Occupied
:

Date of Documents
Last LAD obtained on
Comments of visiting officer:

:
:

Place:
Date:

:
: Yes / No

of
Old
House

Renovation

Rented Out

from other
bank

house

Vacant

If Yes, date..

(Signature of Bank's Official)

NAME:
DESIGNATION:

28 | P a g e

Annexure-5

(Format for seeking activity clearance for Baroda Mortgage Loan)

Note to :
Sir,
Issue for consideration: Activity Clearance- Fresh Proposal under Baroda Mortgage Loan
Branch: ________________________________________
Region/Zone
Name of the account/
Borrower (s)
Type of Applicant
Type of facility & Limit
Proposed
Income : as per salary
certificate or IT Returns,
as the case may be
Loan Eligibility
Type of property offered
as security and original
cost of acquiring the
property

Service / Business / Professional/NRI

Term Loan Rs.
Overdraft Limit Rs.
Gross Monthly Income of Gross Annual Income of applicant (s)
applicant (s). (In case of for last three years. (In case of
salaried Persons)
others)

House
Property
with age

Commercial
Building with
age

Residential
plot
(whether
purchased from
development
authority
with
age)

Value as per latest

valuation report and date
of valuation
Whether property already
mortgaged?
Security/Margin available
Whether Fresh/ Existing
Dealing with us since
(Date/Month/Year)
Details
of
existing
Facilities under Mortgage
Loan (Whether Term or
Overdraft)

Market Value:
Realisable Market Value:
Distress Sale Value:

Conduct of account in
case of facility with us or
other bank:

Annual Turnover in the account

EMI/Interest
is
serviced
promptly
Overdue EMI, if any
Date of last review

Date of original
sanction

Limit
originally
sanctioned
(TL/OD)

Commercial
Plot
whether
purchased
from
Development
authority)

Limit now requested (TL/OD)

Yes/No
Rs.

29 | P a g e

Any other information

Branch/Region would like
to furnish
Inspection
irregularities
as per latest inspection
report
Whether all the stipulated
terms and conditions are
complied with
Portfolio details under
Advances
Against
property

Outstanding at Branch level

Outstanding at RO level

No

No

Amt in lacs

Out of above NPA at branch

level
No
Amt in lacs

Amt in lacs

Out of above NPA at Regional Level

No

Amt in lacs

Recommendations
and
comments
of
the
sponsoring
authority
Branch/Region
Decision of the competent
authority:
Sanction No & Date

30 | P a g e

ANNEXURE- 6 (a)
PART- A: FRAUD PREVENTION CHECKLIST TO BE KEPT WITH THE LOAN DOCUMENTS
(Pre sanction Stage)
Name of Branch:
Name of Account:
S.
No.
1

Guidelines

Compliance

KYC Compliance

Details of the
Document and Date
of verification

1.1
1.2
1.3
2
2.1
2.2

Address of Borrowers and Guarantors verified

Identity of the Borrower /Guarantor verified
Occupation and address of working place verified
Pre-Sanction Inspection
Date of Pre sanction Inspection
Name of Officer who carried out Pre Sanction Inspection
and the date
Whether Pre-Sanction Inspection Report kept on record
Whether CIBIL verification carried out
Whether verified from ASCROM Report
Whether Credit rating done and the score is above the
cut off point.
Verification of ITR/ Form No. 16/ Salary Slips
ITR Verified
Form No. 16 / Salary Slip verified from the employers
record (Date of verification and name of officer)
Verification of Banking Relationship
Existing Loan Accounts of the borrower with our Bank
/other Banks examined (Yes /No)
Statement of Accounts of other Banks obtained and
examined and nothing adverse found (Yes/No)
Valuation Report of the Property Offered as
security obtained and the same is not more than
3 years old and there is no abnormal increase in
value during last 3 years. Please give Date of
Valuation and value of property.
Legal Opinion and NEC for creation of mortgage is
obtained (Yes/No)
If yes
Whether Legal Opinion is in prescribed format also give
the date of opinion and NEC
Whether all the observations /suggestion of advocate are
complied with
Whether Deviations if any have been approved by
the competent authority
Whether detailed Sanction Letter Issued providing
the information about all type of Charges e.g.
Processing Charges, Review Charges, LAD
Charges, etc.
Whether terms of sanction have been accepted by the
borrower and guarantor both

2.3
2.4
2.5
2.6
3
3.1
3.2
4
4.1
4.2
5

6
6.1
6.2
7
8

8.1

Comments of
Branch Head
Confirmed or any
other comment

We confirm having verified the above information.

(Signature of Branch Head)
Place
Date:

31 | P a g e

ANNEXURE 6 (b)
PART-B: FRAUD PREVENTION CHECKLIST TO BE KEPT WITH LOAN DOCUMENTS
(Post Sanction stage)

Name of Branch:
Name of Account:
S.
No.
1

1.1

1.2
1.3

1.4
2
2.1
2.2
2.3
2.4
3
3.1
3.2
3.3

Guidelines

Compliance

Comments of Branch
Head

All the Documents have been executed as per

terms of sanction (Date and name of the
Officer in whose presence the documents are
executed)
Whether proper Mortgage has been created as per
terms of sanction along with complete chain of title
deeds and relevant documents as per opinion of
advocate.
Whether a notice of creation of mortgage has been
sent to Sub-Registrar/Talati/ Tehsildar /Revenue
Authorities for noting Banks lien over the property.
Whether Documents have been vetted by Legal
Advisor other than who has given NEC (or the Zonal
Legal Cell as the case may be (date of vetting)
All the observation made in document verification
report have been complied with (Yes /no)
Disbursement of Loan
Whether pre-disbursement inspection carried out and
authority for disbursement from sanctioning authority
obtained
Whether disbursement of loan is made directly to the
Builder/Supplier of good
Disbursement is made by DD/BC mentioning his Bank
account details after verifications of the credentials of
the Builder /seller/Dealer of the goods to be supplied.
Duly acknowledged Receipt of the payment made to
builder/seller/ dealer is received and kept on record.
Post Disbursement Verification:
Name of Officer carried our Post Disbursement
Inspection/Asset Verification and Date of verification
Whether any adverse feature observed, if yes whether
necessary steps initiated.
Whether Insurance cover for securities obtained

We confirm having verified the above information.

(Signature of Branch Head)

Place:
Date:

32 | P a g e

Annexure -7

(To be submitted along with deviation proposals)

Format for site verification of property mortgaged to Bank.

Branch: ____________________

Type of Loan:

A/c.No.________________
Limit Sanctioned: Rs._______Lac.

Value as per Record: Rs._______Lac

Name of the borrower :__________________________________________________________

_____________________________________________________________________________
Address as per records : _________________________________________________________
_____________________________________________________________________________
Present address of the Borrower/s:_________________________________________________
_____________________________________________________________________________
Sr.No.
1.

Particulars

Details/Response

Detailed address of property with boundaries and

landmark.

2.

Type of property i.e. Open plot, Residential

house, Commercial, Factory, Godown

Date of acquisition of property and Registration

value of the same

4.

Type of Construction(semi finished/under

construction /stage of completion) and other
description of property

5.

How property is in use i.e. self occupied, rented

out, leased.

6.

In case, not self occupied, details of the

occupant/s (with period of occupancy), rent
paid/leased amount and the modus of payment.

7.

Detail of chain of valuation of the property :

Date /Amount /Valuer

8.

Dispute in regard to payment of rent/lease

amount , if any

9.

Any attachment notice, Recovery Notice

received from municipal/Revenue/State Govt./
Court/Bank/Financial Institution

10.

12.

Date:

In whose name, the electricity, water,

telephone, municipal taxes/bills are being
received
Any other Information e.g. for deviation in age
relaxation, names of legal heir with age must be
stated.

(Signature)
(Name of Officer)
EC No:________

33| P a g e

Please affix
recent
photograph

APPLICATION FOR BARODA MORTGAGE LOAN

I/We request you to grant me/us a Loan/Overdraft facility of Rs. ________________________________

under Baroda Mortgage Loan Scheme.
To enable you to consider the proposal, I/We submit the following particulars.
(Please complete all sections in BLOCK LETTERS and tick

options wherever applicable)

Name: _______________________ _______________________

(First name)
(Middle name)
PAN/GIR No. : ____________________
Date of Birth : ______ ____ ______
(DD)
(MM) (YYYY)
Age:
_______ (years)
Sex :
Male/Female
Marital Status:
Single/Married/Divorced/Widowed
E-mail:
___________________________________
Employment status (tick mark):

Salaried

Self-employed

Professional

House wife

__________________________
(Last name)

Present address:
Address: __________________________________
__________________________________
_______________________________ __
City: ______________ State: ________________
Pin code: ___________ ___
Phone number: (O)_____________(R) __________
Years in current address: _________________
Mobile phone no: _______________
Fax no: ___________________
Changed Residence in past 3 years :
Not Changed Once More than Once
Permanent address:
Address: __________________________________
__________________________________
_______________________________ __
City: ______________ State: ________________
Pin code: ___________ ___
Phone number: ________________

Others
Previous address:
Address: ______________________________
_____________________________________
_____________________________________
City: ___________ State: _______________ Pin code: ___________ ___

Father's/Husband's
name:
_________________
_______________

Are you a BOB staff

(Y/N): _____

Education (tick mark):

o Matric or below matric
o Under Graduate/Higher secondary
o Graduate
o Post-graduate
o Doctorate
Category:
SC/ST/OBC/OTHERS/MINORITY
COMMUNITY

Banking with us (Y/N): ______

If yes, then fill the following:
Banking with us since: _______ (YYYY)
Account type: _____________________
Account number: ___________________
Branch name: _____________________
No. of dependents (excluding spouse):
________
No. of children: ________
Earning member in family,
if any (Y/N): __________

Page | 34

Mention branch where loan account should be opened:

Reason for choosing the branch
Near location of property
(tick mark)
Near place of work/business

Income and expenses

Primary monthly income
Gross income: ______________
Deduction:
______________

Near place of present residence

Branch maintains salary account

Other: __________________

Other income details

Monthly expenditure

Rent received: ______________

Agriculture: ______________
Others:
_______________
Description: _______________

Loan repayment: ____________

Rent paid:
_____________
Others:
_____________

Salaried: Please tell about your work:

Employer name: ___________________________
Department: ___________________________
Address: _________________________________
_________________________________
City: ____________
State: _____________
Country:____________________
Pin/Postal code: _________
Phone no: ______________ Extn No: ________
Fax no: ____________________
Company email: ___________________________
Designation: Executive/Managerial/Clerk
Years with employer: _________
Contact person: __________________
Name of previous employer: _________________
Retirement age: ____
Working with:

Govt./Public sector

Public Ltd

Private Ltd

Partnership

Proprietorship

MNC

Credit card details

Credit Cards Owned : ______
Card Issuer: ________
Card No. : _____________________________

Self-employed/Professionals: Please tell about

your work:
Name of company/firm:
_____________________________________
Activity: _______________________________
Address: _________________________________
_________________________________
City: ____________
State: _____________
Country:_________________
Pin /Postal code: _________
Phone no: __________________ Extn No._______
Mobile No.:________________________________
Fax no: ____________________
Company email: ___________________________
Designation: Executive/Managerial/Professional
If professional, then choose one of the following:
Doctor
Architect
CA
Engineer
Lawyer
Others: ________
Years in business/profession: _________
Contact person: __________________
Retirement age: ____
Business details:

Private Ltd

Partnership

Proprietorship
Others: _______________
Established since: ________________
Passport Details
PASSPORT No.:
Place of Issue :
Date of Issue :
Valid upto
:
Date of Visa granted / work permit :
Valid upto :

Page | 35

About bank accounts (including credit facilities, if any):

Name of
Branch
Branch
Number of
Account
Bank
telephone
years
type
number
account held

Outstanding Loan details in individual name :

Source
Purpose
Date of
Loan
sanction Amount

Outstanding

EMI

Account
Number

Account
balance
(Rs.)

Overdue
amount, if any

As on
date

Overdue
since

Details of other present immovable Properties

Income Details:
(Other than proposed as security for Mortgage Loan)
1. Gross Monthly Income (Rs.)
: _________
Nature of properties:
2. Salaried Person
Plot of Land
Agricultural Land
(I) Monthly Basic (Rs.)
: _________
House/ Godowns
Others
(ii) % of PF deduction
: _________
Location: Survey / House No.__________
3. Annual Professional Tax
: ________
Street / locality_______________ ______
4. For Tax Purpose
Village/Town__________Distt:____________
(i) Total Annual Savings under s/88:__________
Property in whose name?____________
(ii) 100% Rebate Amount
: __________
Area / Size of the property:
(iii) Deduction under chapter VI A : __________
Cost (at the time of purchase): Rs._______
(iv) Other Rebate /Deduction claimed: _________
Present estimated market value: Rs.
5. Net Annual Income of other Family members:
Whether encumbered: If yes, give detail:
_____________________________________
(Excluding co applicant & Guarantor)
Information on Guarantor/Co-applicant (if present)
About your Co-applicant:
About your Guarantor:
Name
: _______________________
Name
: _______________________
Date of birth: _________________ (DD/MM/YYYY) Date of birth: _________________ (DD/MM/YYYY)
Fathers/husbands name: ___________________
Fathers/husbands name: ___________________
Relation with Applicant: _____________________
Relation with Applicant: _____________________
Address: ____________________________
Address: ____________________________
____________________________
____________________________
____________________________
____________________________
City: __________
Pin code: _________
City: __________
Pin code: _________
State: _______________
State: _______________
Occupation: _______________________
Occupation: _______________________
Phone/Fax: _______________________
Phone/Fax: _______________________
Email: ________________________
Email: ________________________
PAN/GIR Number:________________________
PAN/GIR Number:________________________
Net Annual Income (Rs.): ____________________ Net Annual Income (Rs.): ____________________

Page | 36

Net worth
In Rs.

Applicant

Co-applicant, if present

Guarantor, if present

1. Total movable
2. Total immovable
3. Total assets (1+2)
4. Total liabilities
5. Net assets (3-4)
6. Amount of collaterals
Proposed Loan Details:
Details of immovable Properties offered as security for the Loan
Loan Amount requested
(Rs):_______________________

Nature of the property (mark )

Residential Building
Plot of Land

Tenure in Months: ___________

Rented

Purpose:___________________

Purchased

Commercial Building

Godown Others (specify)________

Self occupied
Inherited

If a Plot of Land, whether it is purchased from any Development

authorities: Yes / No / Not applicable
If yes, Name of the Development Authority:
Location: Survey / House No._______________________
Street / locality___________________________________
Village/ Town_____________________________________
Distt:____________ State:__________________________
Property in whose name?: _________________________
Area / Size of the property:
Date of Purchase/acquiring:
Cost (at the time of purchase): Rs._______
Present estimated market value: Rs.
Whether encumbered:
Details of Movable Assets in my name:
(A) Life insurance Policies
Policy No.
Date of
Sum
issuance
Assured

Co. & Branch

name

Annual
Premium

Premium paid or
surrender value

(B) Shares/ Debentures/ Term deposits / Govt Securities (NSC etc)

Co./ Bank/ Post Office

Date of
Instrument

Face Value

Present value

Due date

Whether
encumbered

Page | 37

(C) Other movable assets:

Descriptions

Year of acquiring

Purchase price

Market Value

Valuation date

(D) Details of Liabilities:

Details Of Loan In Firms Name/ Companys Name where you are interested as Prop, Partner/ Director

a) Name of the Bank/ institution and its branch :______________________

b) Purpose and amount of loan/ credit facilities :______________________
c) Security / Repayment schedule
:________________________________
d) Present outstanding
:________________________________
e) Liabilities other than to Bank and Financial Institutions: ________________
Details of Personal Guarantee given for any person/firm. If yes, furnish details (i.e. Name of the
Bank/ Institutions, on whose behalf, amount of guarantee, present status of a/c etc.)
I enclose / Submit documentary proof in support of the above submissions.
The loan applied for as above for Rs.(Rupees) under Mortgage Loan Scheme is
repayable in ..monthly instalments of Rs.each. I / We note that the rate of interest applicable on the loan will be at ..%
p.a. which would be applied at quarterly / monthly interval or as applicable from time to time.
Further I give below particulars about myself, dependants & legal heirs
Name/Age of dependents/
Relationship with
Address
Legal heirs
the borrower

Occupation / Vocation
of Legal heirs

I/We hereby declare that all the particulars and information furnished in the application form are true, correct and complete and up-to-date in all
respects. I/We have not withheld any information. I/We confirm that I/We have had no insolvency proceedings initiated against me/us nor have
I/We ever been adjudicated insolvent. I/We also authorize Bank of Baroda or its agent to make references and enquiries relative to information in
this application which Bank of Baroda considers necessary. I/We also authorize Bank of Baroda to exchange, share, part with all information
relating to my/our loan details and repayment history information to other Banks/Financial institutions/ Credit Bureaus/Agencies as may be
required and shall not hold Bank of Baroda liable for use of this information. I/We undertake to inform Bank of Baroda regarding any change in
my/our residence/employment/Occupation/Transfer and to provide any other information that Bank of Baroda may require. I/We further agree that
my/our loan shall be governed by the rules of Bank of Baroda which may be in force from time to time. Bank of Baroda reserves the right to reject
any application without providing any reason.
I further declare that I am not a Director in any Bank. There is no litigation against the firm or me / co. in which I am the proprietor / a
partner/ a Director.
I am / was not interested as Proprietor / partner/ Director in any firm/ company whose name is listed in caution list of RBI/ ECGC.
I/we under take to bear processing, service, documentation charges etc. stipulated by the bank from time to time. I/we agree, note and
understand that Bank of Baroda shall be entitled at its sole discretion to call back, the entire loan/advance whether due and payable or not
at any time without assigning any reason and enforce its rights, remedies and securities.
Yours faithfully,

Place : __________________________________
Date
__________________________________

Signature of the Applicant/s / Co - Applicant

I am willing to stand as guarantor for the above loan ( details as per enclosed sheet)

Place
Date

: ______________________________
: _____________________________

Signature of the Guarantor/s

Page | 38

Particulars about Co- Borrower / Guarantor (wherever applicable)

Name: Mr./Mrs/Ms.____________________________________________________________________
Fathers / Husbands Name:____________________________________________________________
Present Address: ____________________________________________________________________
____________________________________________________________________________________
Phone No: ______________________________ Mobile No.____________________________________
Details of other present immovable properties (Other than proposed as security for Mortgage Loan in
case of co borrower)
Nature of properties: Plot of Land / Agricultural Land / House/ Godowns / Others
Location: Survey / House No.__________Street / locality_________________ _________
Village/ Town___________
Distt:____________
Area / Size of the property:
Present market value: Rs.
Whether encumbered: If yes, give detail:
Details of Movable Assets in my name:
(A) Life insurance Policies
Policy No.
Maturity
Sum
Co. &
Date
Assured
Branch name

Last premium
paid up to

Total Premium paid

or surrender value

(B) Investments(Shares/ Debentures/ Term deposits / Govt Securities like,NSC etc)

Description

Face value

No of units

Present market value

(C) Other movable assets:

Descriptions

Purchase price

Market value

Valuation date

(D) Details of liabilities:

Details Of Loans / advances availed from Banks / Institutions & other liabilities:
Name of Bank/ Institution:
Purpose :
Amount of Loan
P/O ___________ overdue if any.
Details of Personal Guarantee given, if any:
Name of the person on whose behalf ________________ Bank / Institution
Amount of commitment _____________ Overdue if any_____________-

Page | 39

Particulars of Legal Heirs:

Sr. No.

Name

Relationship

Age

Present Address

I enclose / submit documentary proof in support of the above submissions.

I further declare that the information submitted above is true and correct to best of my knowledge and
belief.

Place:
Date:

Signature

-------------------------------------------------------------------------For office use only-----------------------------------------------------------------------------Warm lead No: ______________

Borrower number:_______________

Sales executive code:

Branch name and alpha code where parked :

Page | 40