Bank of India Personal Loan

• Loan amount: The loan amount offered by Bank of India starts from Rs. 10,000 and goes up to Rs. 20 lakh. The loan amount offered by the bank depends upon an individual’s eligibility
• Flexible tenure: Repaying Bank of India personal loan is flexible as the repayment period varies from 12 to 60 months and can be selected by an individual as per his repayment ability
• Flexible end use: Bank of India offers various types of personal loans like BOI Star Personal Loan, Star Mitra Personal Loan, BOI Star Pensioner Loan Scheme, Star Education Loan, BOI Star Doctor- Plus, BOI Star Vidya Loan Scheme and Star Holiday Loan Scheme. These loans can be availed by different individuals to serve various purposes in life
• Easy application: All the personal loans offered by Bank of India are easy to apply online and requires minimum documentation

The interest rate offered by Bank of India on a personal loan starts from 13.10% and varies from individual to individual depending upon his age, credit score, employer, repayment history, etc.

Like any other personal loan, BOI Star Personal Loan can be availed to deal with various expenses like getting married, paying medical bills, opting for higher studies, renovating home or any other personal expense.

• Professionals and individuals with high net worth, salaried employees, regular pensioners or family pensioners drawing regular monthly pension through Branch, staff members and retired employees of Bank of India can avail this loan
• The loan amount offered starts from Rs. 10,000 (minimum loan amount offered to metro and urban centres) and goes up to Rs. 10 lakh

Star Mitra Personal Loan is offered with an aim to help physically challenged personals with funds so that they can live independently. The loan amount allows them to purchase durable appliance/aids that may help in them in day to day life.

• All physically challenged individuals who are either salaried professionals or self- employed individuals and parents/guardians of all minors (physically challenged) can avail this loan
• The maximum loan amount offered by Bank of India’s Star Mitra Personal Loan is Rs. 1 lakh

Note: Net take home of an individual should not be less than 40% after he has availed the loan amount. Also, in case of minors, income of parents/guardian would determine the eligibility)

This loan is offered to the pensioners so that they can live independently and can pay their own medical bills or can fulfill their dreams.

• Regular or family pensioners who are drawing monthly pension through the branch or retired employees (other than dismissed/compulsorily retired) are eligible for this loan
• The maximum age of regular pensioner/family pensioner at the end of repayment period should be maximum 75 years
• The maximum loan amount offered to pensioner and family pensioner is 15 times of monthly pension with subject to maximum Rs. 5 lakh
• The maximum limit of BOI Star Pensioner Loan Scheme for individuals over 75 years is Rs. 1 lakh

The aim of Star Education Loan is to help the deserving students to pursue higher studies in India as well as abroad.

• Eligible loan amount:

• Eligibility Criteria:

1. You should be an Indian citizen
2. You should have a secured seat to a higher education course in any of the recognized institutions of India or Abroad through either merit based selection process or entrance test (after completion of HSC that is 10 plus 2 or equivalent)
3. You must have a good academic career
4. You should not have any outstanding education loan from any other institution
5. Your father or mother has to be the co- borrower

 Eligible courses:

• Expenses covered in the loan:

1. Fee payable to school/college/hostel
2. Examination/laboratory/library fee
3. Caution deposit/building fund/refundable deposit supported by Institution bills/purchase of books/equipment/instruments/uniforms
4. Travel expenses/passage money for studies abroad
5. Life Insurance Premium for life cover of student/co-borrower
6. Purchase of computers/Laptops – essential for completion of the course
7. Any other expenses  required to complete the course – like study tours, project work, thesis, etc

BOI Star Doctor- Plus loan is offered to qualified registered medical practitioner for any approved purpose. The maximum loan amount that can be availed is Rs. 20 lakh

• Eligibility:

1. You should be a qualified registered medical practitioner with minimum 3 years of experience in any branch of medical science that is recognized by DCI/MCI/other statutory/regulatory authorities to practice in India
2. You should be at least 25 years old and your maximum age should be 75 years

• Eligible loan amount:

This loan is offered to finance the education of those Indian students who have secured admission in selected premier educational institutes in India, either through entrance test or selection process.

• Eligible loan amount:

• Courses covered:

1. Regular full time Degree/Diploma courses (certificate / part-time courses not covered)
2. Full time Executive Management courses like PGPX (For IIMs) are also covered

• Expenses covered: Fees payable to College, school, examination, hostel, library fee, equipment and purchase of laptop/computer or any other expense related to education

Star Holiday Loan Scheme is offered to meet expenses related to a vacation like train/bus/airfare charges, accommodation, sightseeing, shopping, etc. The minimum loan amount offered is Rs. 10,000.

• Eligible loan amount:

The documents required to opt for Bank of India Personal Loan can vary as per the type of personal loan you opt for. However, the list of basic documents is as follows:

• Identity proof:Passport, Pan Card, Voter Identity Card, Driving License, Aadhaar Card
• Address proof:Ration Card, Bank Account Statement, Passport, Driving License, Electricity Bill, Telephone Bill, Sale Deed/Property purchase agreement(for owned properties), Aadhaar Card
• Income proof:Bank Account Statement, Salary Slips

You can always calculate your EMI using a pen and a paper but it is more convenient to use a personal loan EMI calculator in order to estimate your monthly EMI payouts as it saves your time and tells you the EMI within seconds.

• Go to the Personal Loan EMI calculator
• Scroll the sliders to loan principal amount, the applicable interest rate and the required loan tenure
• Get instant results

1. You can call on 1800 220 229 / 1800 103 1906 / 022-4091 9191
2. You can visit the nearest branch
3. You can write a letter at Bank Of India, Star House, C – 5, “G” Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051