Bank of India Loan Against Property: Get instant Quotes for Bank of India Loan Against Property Interest Rates 2018, Documents, EMI, Eligibility at Deal4loans.com
Bank of India Loan against property details
|Interest Rates||10.30% – 10.80%|
|Loan Amount||3 Lakh – 10 Crore|
|Repayment Period||Upto 12 Years|
|Processing Fees||5000/ – 50000/-|
|Pre Payment Charges||Nil|
|Minimum Income||12000 Per Month|
People engaged in trade, commerce and business, professionals, self-employed, individuals with high net worth, salaried people, proprietary firms, Partnership firms, Companies (Pvt. /Public Ltd.,) HUFs (excluding partnership firms where HUF is a partner), Societies, Staff members, NRIs- subject to compliance of Bank’s/RBI guidelines.
ADVANCES TO INDIVIDUALS : MAXIMUM AGE LIMIT :
Individuals in permanent service max. 60 years.
For Proprietary concerns/Self Employed/non-salaried people – Maximum -70 Years
(Age limit is the maximum age at the end of the repayment Period)
Bank of India Loan against property Interest Rates 2018
- Loan/ Overdraft Reducible (Monthly Reducible Limit) – 10.30%
- Overdraft –Non -Reducible – 10.80% PA.
Bank of India Loan against Property EMI Calculator
EMI calculator helps you in calculate emi per month details of your property loan.
MAX. REPAYMENT PERIOD: 12 YEARS
i. Nil Margin for loan limit provided on the basis of Circle Rate/Registration value of the property (100% Loan amount);
ii. 60 % of Market value ( 40 % Loan amount);
iii. 50% of Distress Sale Value (50% Loan amount), whichever is lowest of i, ii & iii.
REQUIREMENT OF NET TAKE HOME PAY /DSCR- FOR LOANS :
✓ For individuals : Net take home pay (net of EMI of proposed advance) not to be less than 40% of gross income of the applicant.
✓ For Prop. Firm/Partnership Firm/Company(Loan /Reducible OD) : DSCR: Min.1.5;
✓ For Overdraft facility(Non-reducible ) : ISCR Min.1.5
Processing Fees & charges: 1% of the loan amount, Maximum Rs.50000
Pre Payment Charges: NIL
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