Relaxation in Income Critearia for beneficiaries of 7th Pay Commission - Baroda Home Loan

After the 7th Pay Commission Central Govt. employees, State Govt. employees and defence personal will get the benefits of higher pay

In order to attract 7th pay beneficiaries, our bank has decided to relax in income criteria to avail for Baroda Home Loan

Existing Guidelines :

Income Criteria (Salaried person) :

Average of Last 3-Months GMI (Gross Monthly Income)

Modified Guideline :

Income Criteria (Salaried person) :

Last Months Gross Salary (Excluding amount of Arrears)

Note :

This relaxation only give to the beneficiaries of 7th Pay Commission.
This is also applicable for all the product under Baroda Home Loan like Home Improvement , AAA.
This is only valid up to March - 2016

Reference :
circular : BCC_Br_104_489 Dated 14th Octo-2016