The present communication reports the study of various properties (i.e., structural, electrical, dielectric, ferroelectric, and magnetic) of new multiferroic: (BiBa)(FeTi2)O8 synthesized by a mixed oxide reaction route. The analysis of the X-ray diffraction profile at room temperature ensures its phase formation in the orthorhombic crystal structure. The micrographic study divulges irregular shape grains (mostly rectangular) with an average grain size of 3.5 μm. The compositional study displays the desired stoichiometry. The study of electrical (impedance, modulus, and conductivity) and dielectric properties (dielectric constant and tangent loss) of the sample at different temperatures (RT – 773 K) and electric field frequency (1 kHz-1MHz) provides many new experimental data, and insight mechanisms. The temperature dependence of the dielectric constant exhibits a dielectric anomaly around 523 K that may be due to the combined effect of oxygen vacancy mediated redox reaction (Fe3+→Fe2+ and Ti4+→Ti3+) and Maxwell-Wagner polarization. The loss tangent follows a similar trend to that of the dielectric constant except for an additional low-frequency relaxation peak of about 543 K. The dielectric loss tangent exhibits low value in low temperature and high-frequency regions, indicating that the sample can be a potential candidate for data storage devices. The ferroelectric recording shows a non-linear PE loop at room temperature. The room temperature magnetic recordings show evidence of weak ferromagnetism due to suppression of spiral spin structure as opposed to the antiferromagnetic nature of BiFeO3. The coexistence of these unique features enables the synthesized sample to be used in voltage-controlled data storage devices.