With Bank of India Marriage Loan, you can make your wedding day the best and the most memorable day of your life. India weddings are grand and Bank of India Marriage Loan is designed to deal with all the wedding related expenses like shopping, venue, food, decorations, honeymoon and a lot more. The process to apply for this loan is very simple and minimum documentation is required to keep you relaxed.
Interest Rate
Starting from 9.35% p.a., the interest rate for Bank of India Marriage Loan is very reasonable and is calculated based on your income, age, area, repayment ability and a lot more.
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Eligibility Criteria
To opt for Bank of India Marriage Loan, you will have to fulfill the following eligibility criteria:
- Your minimum age should be 21 years.
- You should either be a salaried employee or a self- employed individual with a high net worth or a regular pensioner drawing monthly pension
Documents Required
The following documents are required to avail Bank of India Marriage Loan:
- Address Proof(Any one): Driving License, PAN Card, Voter ID, Telephone Bill, Passport, Bank Statement, Electricity Bill, Registered Lease Deed or Sale Agreement
- Identity Proof(Any one): Driving License, Passport, Voter ID
- Passport size photographs
- Latest 2 months of pay slips and Form 16 issued by the employer
- Latest 6 months of Salary credit bank statements
EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
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Frequently Asked Questions (FAQ)
Ques: What is the minimum and maximum loan amount that Bank of India offers?
Ans: The minimum loan amount is Rs. 10,000 and the maximum loan amount is 10 lakhs.
Ques: What is the interest rate offered at Bank of India Marriage Loan?
Ans: The interest rate offered at Bank of India Marriage Loan starts from 9.35% p.a.
Ques: Is any collateral or security needed to avail Bank of India Marriage Loan?
Ans: No collateral or security is needed to opt for Bank of India Marriage Loan.
Also Read: How to Get Personal Loan upto 40 Lakh without collateral
Ques: What is the customer care number of Bank of India?
Ans: The customer care number for Bank of India is 1800 22 0229.