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Bank of India Personal Loan

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15.6L Reviews

5.7cr+Satisfied Customers
65+Lending Partners
₹65k Cr+Loans Disbursed
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Competitive Interest Rates

Curated offers from 30+ lenders

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Very Less Turnaround Time

Money in your account instantly

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100% Online Loan Processing

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Minimal Documentation Required

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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee6,500
ICICI Bank
100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest11% - 13%
Tenure upto1-5 Years
Processing FeeUpto 2%
Axis Bank
Low Processing fee
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
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How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

About Bank of India Personal Loan

  • Bank of India offers tailor made loans to meet the personal needs of its applicants at competitive interest rates.
  • The lender offers quick loan disbursal with minimal documentation.
  • The bank does not levy any processing charges for differently abled borrowers.
  • Women borrowers are offered a concession of 0.50% on Bank of India personal loan interest rates.
  • Bank of India offers special rates for doctors, salary account holders, PSU and government employees.

Bank of India Personal Loan Highlights

  • Interest rate: 10.85%-16.15% p.a.
  • Loan Amount: Up to Rs 25 lakh
  • Loan Tenure: Up to 7 years
  • Processing Fees: 0.50%-1% (Minimum Rs 250 and Maximum Rs 15,000)

Rates as of 15th April 2026

Bank of India Personal Loan Interest Rates

Bank of India Personal Loan interest rates start from 10.85% p.a. It offers personal loan interest rates based on the applicant type, loan type and applicant’s existing relationship with the bank. While the bank has not disclosed interest rate differentiation based on the credit score, monthly income, job profile, employer’s profile, etc. of its personal loan applicants, Indian Bank may also consider these factors, just like many lenders do, while setting its personal loan interest rates.

Floating rates

Clean/Unsecured 13.85% p.a.
Financing secured under tie-up arrangements 12.85% p.a.
For senior citizens above 60 years of age and above and loan amounts up to Rs 50,000 11.85% p.a.
Star Pensioner Loan Scheme 10.85% p.a.
Star Suvidha Express Personal Loan Salaried/Pensioner- 10.85% p.a.; Others- 11.85% p.a.

Fixed Rates

Clean/Unsecured 16.15% p.a.
Financing secured under tie-up arrangements 15.15% p.a.
For senior citizens above 60 years of age and above and loan amounts up to Rs 50,000 14.15% p.a.
Star Pensioner Loan Scheme 13.15% p.a.
Star Suvidha Express Personal Loan Salaried/Pensioner- 13.15% p.a.; Others/NRI- 14.15% p.a.

Comparison Table of Personal Loan Interest Rates for Various Lenders

Bank/NBFCInterest Rates (% p.a.)Processing Fees
Aditya Birla Finance10.99 onwardsUp to 4%
Axis Bank9.99 onwards*Up to 2%
Bank of Baroda10.15-18.00Up to 2% (Max. Rs. 10,000)
Bajaj Finance Limited10.00-30.00Up to 3.93%
Bank of India10.85-16.15Up to 1% (Min. Rs. 250; Max. Rs. 15,000)
Bank of Maharashtra8.75-13.55Up to 1% (Max. Rs. 10,000)
Canara Bank9.70-15.15Up to 0.5% (Max. Rs. 5000)
Central Bank of India9.85-11.65Up to 1%
Cholamandalam IFC10.00-28.004% - 6%
Dhani Loans & Services Ltd.13.99 onwards3% onwards
Federal Bank12.00 - 22.50*Up to 2%
HDB Financial Services10.00 - 35.00Up to 5.90%
HDFC Bank9.99 onwardsUp to Rs 6,500
Hero FincorpUp to 30*2.3% - 3%
HSBC Bank9.75 onwardsUp to 2%
ICICI Bank9.99 onwardsUp to 2%
IDFC FIRST Bank9.99 onwardsUp to 2%
IIFL Finance12.00 - 28.002% - 9%
Indian Overseas Bank10.25 onwardsUp to 0.75%
IndusInd Bank10.35 onwards*Up to 3.5%
Kotak Mahindra Bank9.98 onwards*Up to 5%
L&T Finance11.00 onwardsUp to 3%
Mahindra Finance8.00 - 25.002% of loan amount or Rs. 5,000, whichever is lower
Mannapuram Finance18.00 - 24.001% of loan amount
Moneyview14.00 onwards2% onwards
Muthoot Finance13.50 onwardsVaries for each application
Piramal Finance12.14 onwardsUp to 5%
Poonawalla Fincorp9.99 onwardsUp to 3%
Punjab & Sind Bank9.60-13.850.50% - 1%
Punjab National Bank10.25-16.80Up to 1%
Shriram Finance11.00 onwardsUp to 5%
Tata Capital10.99 onwardsUp to 3.5%
UCO Bank9.95 - 13.20Up to 1% (Min. Rs. 750)
Union Bank of India8.75 - 12.55Up to 1% (Max. Rs. 7,500)

*Paisabazaar special rates


Note: Rates as of 27th May 2026

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Bank of India Personal Loan Fees and Charges

Type Processing Charges
Star Personal Loan 1% of the loan amount (Minimum Rs 2,500; Maximum – Rs 15,000)
For Senior Citizens- NIL
Star Pensioner Loan Scheme Senior Citizen (60 years & above)- NILFor others- One time @ 0.50% (Rs 250-Rs 1,000)
Star Suvidha Express Personal Loan 1% of the loan amount (Minimum Rs 2,500; Maximum – Rs 15,000)

Also know about the personal loan processing fee.

Types of Bank of India Personal Loans

BOI Star Personal Loan

  • Purpose: Bank of India offers a regular personal loan scheme to fulfill all the personal financial requirements of the applicants like marriage, education, medical, etc.
  • Loan Amount: Up to Rs 25 lakh
  • Tenure: Up to 7 years

BOI Star Pensioner Loan

  • Purpose: Bank of India Pension loan scheme fulfills the personal financial needs of the pensioners/family pensioners.
  • Loan Amount: Up to Rs 10 lakh
  • Tenure: Up to 5 years

Star Suvidha Express Personal Loan

  • Purpose: Bank of India offers a special personal loan scheme, Star Suvidha Express Personal Loan scheme to its select customers.
  • Loan Amount: Up to Rs 20 lakh
  • Tenure: Up to 7 years

Star Mitra Personal Loan

  • Purpose: BOI Star Mitra Personal Loan scheme is a special scheme offered to differently abled individuals to finance the purchase of sophisticated aids or appliances and durables to promote their physical and social rehabilitation.
  • Loan amount: Up to Rs 2 lakh
  • Tenure: Up to 5 years

Eligibility Criteria for Bank of India Personal Loan

BOI Star Personal Loan

  • Salaried, self-employed and professionals are eligible for BOI Star Personal Loan.
  • Groups of permanent and confirmed employees can also avail personal loans from the Bank of India.
  • The maximum age of the applicant at the time of loan maturity should be 70 years.

Also know about personal loan for salaried individuals in detail

For Pensioners

  • The maximum age of the applicant should be 75 years at the time of loan maturity.
  • Regular pensioners/family pensioners drawing pension through Bank of India.

For Star Suvidha Express Personal Loan

  • Salaried individuals having salary accounts with Bank of India.
  • Existing salaried home loan borrowers of Bank of India.
  • Maximum age at the time of loan maturity- 75 years.

BOI Star Mitra Personal Loan

  • Salaried, self-employed individuals and professionals are eligible for the Start Mitra Personal Loan scheme.
  • The maximum age of the applicant at the time of loan maturity should be 70 years.

Bank of India may also consider the monthly income and credit score of its applicants, just like other banks and NBFCs do to check personal loan eligibility of their applicants.

Documents Required for Bank of India Personal Loan

  • ID Proof- Passport/PAN/Voter ID/Driving License
  • Address Proof- Driving License/Aadhar Card/Passport/Latest telephone bill/Latest electricity bill/Latest piped gas bill
  • Income Proof- Latest 6 month salary slip and 1 year ITR/Form 16 for salaried individuals; last 3 years ITR with CA certified Computation of Income/Profit & Loss Account/Balance Sheet/Capital Account Statement

Bank of India Personal Loan Customer Care

Call Centre is available 24×7

Toll Free Numbers- 1800 103 1906

Chargeable Number- (022) – 40919191

Also know about Bank of India Personal Loan customer care numbers and grievance redressal in detail

How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Avail Personal Loan for
All Your Needs

Avail Personal Loan Banner

Avail Personal Loan for
All Your Needs

FAQs

What is the turnaround time for the disbursal of the Bank of India Personal Loan?

Bank of India has not specified the disbursal time for personal loans. However, most banks/NBFCs usually take 2-7 working days for the disbursal of personal loans. Some lenders also offer pre-approved instant personal loans to select customers. To apply with lenders offering personal loans with quicker disbursal.

Can I choose between a fixed or floating rate for the personal loan?

Bank of India offers personal loans at floating and fixed interest rates.

At what minimum credit score can the applicants avail Bank of India Personal Loan?

Bank of India has not specified the cut-off credit score for personal loan applicants. However, applicants with credit scores of 750 and above have higher chances of availing personal loans at lower interest rates.

I do not have a pension account with Bank of India? Can I avail Bank of India Personal Loan?

No, Bank of India offers BOI Star Pensioner Loan to regular pensioners or family pensioners drawing monthly pension from Bank of India.

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What our customers say

Smooth & hassle-free loan approval experience

I want to express my gratitude for your exceptional support & guidance throughout my loan application process to Aman (EW17239). Your professionalism & clear communication made the journey smooth and manageable. I appreciate how you helped during loan approval & fast-tracked the documentation. It is rare to find someone so committed to their clients. I truly value the effort you put into ensuring a successful outcome. Thanks again for your invaluable help.

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Sanjay Kumar GuptaMar 30, 2026

Exceptional guidance throughout the process

I’d like to express my sincere appreciation for Mr. Aman Kumar (EW32023) for the excellent assistance provided. His professionalism & willingness to help made the experience smooth & pleasant. Aman Kumar demonstrated patience & clarity while addressing queries and ensured that everything was handled efficiently. Such dedication & customer-focused service truly deserve recognition. Please convey my thanks and appreciation to him for his outstanding support.

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Jyotirmoy SinghaMar 23, 2026

Very helpful and easy to reach

I really wants to appreciate Mohankumar Dhandapani for closing my loan requirement in such a short time and nice manner. He is very much approachable helped me based on my requirements. He explained me all the options in very short time even one option failed immediately helped me to get other options worked. Excellent job done by Mohankumar Dhandapani all the best keep you same way approachable you will get more customers. Thanks to Paisabazar too.

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Kirubagaran GanesanFeb 24, 2026

Reliable help when i needed it most

I am writing this email to express my sincere thanks for your excellent support and guidance on Paisabazaar. My experience was very smooth and satisfying because of your help. You explained everything clearly and made the whole process easy and comfortable for me. I truly appreciate your professionalism, patience, and quick response. I am very happy with the service and would definitely recommend to others because of the great support I received from you. Thank you once again

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DharmeshFeb 22, 2026

Committed support that made everything easy

I’d like to appreciate the Paisabazar team for the excellent loan service. I especially want to recognize one of your agents, Mr. Prince Kumar, for his outstanding support. For more than a month, he continuously followed up with me and assisted me. His commitment & professionalism made the experience smooth & hassle-free. I appreciate his efforts and dedication. Kindly acknowledge his performance and consider rewarding such a sincere employee.

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BhupendraFeb 18, 2026

My Trust in Paisabazaar has Increased

I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

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Lalit MaviFeb 12, 2026

Best Place for Taking Loans

I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

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Kokil BarnwalFeb 12, 2026

Easy loan approval with good guidance

Thank you for the support provided for getting personal loan approval. During this process I worked with Mr. Aman Bajpai (EW17239) who was co-ordinator for this entire process of Personal loan, I was incredibly impressed by his efficiency and problem-solving skills. He went out of their way to ensure all my questions were answered and that the disbursement timeline stayed on track. His coordination was really appreciable.

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Riyaj AtarFeb 9, 2026

Apne higher education ke liye loan liya tha

Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

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Puja DanuJan 22, 2026

Sabse jada helpful log the yaha

Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.

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Anuradha GuptaJan 21, 2026
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Paisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners.

The APR (Annual Percentage Rate) of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the processing fees, documentation fees and other fees charged during the loan origination. The APR is expressed in the form of a percentage and thus, allows personal loan applicants to detect personal loan schemes offered at lower interest rates but with higher processing fees and/or other charges.

The APR of personal loans usually ranges between 11.29% to 35%. For example, assume that you have availed a personal loan of Rs. 5 lakhs @ 10.50% p.a. with a repayment tenure of 5 years. The processing fee charged for this loan is 1.5% of the loan amount, which amounts to Rs 7,500. Therefore, the total borrowing cost of your personal loan will be Rs 1,52,317 and its APR will be 11.16%.

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