Bank of India Personal Loan: Compare Interest rates, Processing Fees, Documents, Eligibility and BOI Personal Loan
Bank of India provides a various Types of Personal Loan –
1. Star Mitra Personal Loan
2. Star Pensioner Loan Scheme
Star Personal Loans
* Star Personal Loan Scheme provides loan to meet various Personal requirements of customers and their family.
* Bank offers loans for marriage expenses, medical expenses, educational expenses, purchase of consumer durables etc. Maximum quantum of advance is Rs.10.00 lakhs, depending upon the income, with very attractive interest rate and easy repayment plan.
Eligibility Criteria for BOI personal loans
– Salaried employees, Professionals and individuals with high networth, regular pensioners or family pensioners drawing regular monthly pension through Branch, Staff members, retired employees (other than dismissed/compulsorily retired) of our Bank.
Min. Size of loan
Minimum size of loan :-At Metro and Urban Centres : Rs.10,000/-
At Rural and Semi Urban centres: No minimum size of loan.
Minimum size of
|Rate of Interest
(On daily reducing balances)
|5.00% above Base Rate 15.25%p.a at monthly rests. Interest concession to women – 0.50% [All borrowers to be women] For Senior Citizens – 13.25% Financing secured under tie-up arrangement – 14.25%||At 4.00% above Base Rate–14.25% p.a. at monthly rests. Interest concession to women – 0.50% [All borrowers to be women]|
Other Charges and Processing Fees:-
|Processing/Handling charges||One time @ 1.10% of loan amount Min. Rs.1000/- and Max. Rs.5000/-
Pensioners: One time @ 1.10.% of loan amount, min. Rs. 500/- and max. Rs. 1,100/-.
No processing charges for Senior Citizens (60 years & above)
|Other Charges||Stamp charges for documents : At actuals.
Loan Agreement copy charges: As applicable
Available Products of Bank of India:
- Bank of India personal loan
- Bank of India Home Loan
- Bank of India Car Loan
- Bank of India Credit Card
Source: Bank of India Website
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