Bank of India loan against property is one of the secured loans offered by BOI loans under which the individuals get an incredible chance to make best use of their commercial, industrial or residential property to generate finance for various possible reasons. In this loan, the lender provides you funds and takes your property as collateral. The Bank of India mortgage loan fulfills your loan requirements of up to Rs 10 crore and avails you the loan for the tenure of up to 15 years. This loan is offered at affordable rates of interest that range from 8.85% per annum to 9.35% per annum.
|
Loan Amount |
Up to Rs 10 crore |
|
Interest Charges |
Starts at 8.85% per annum and goes up to 9.35% per annum |
|
Processing Fees |
Up to 1% of the loan amount plus applicable taxes |
|
Tenure |
Up to 15 years |
Look at the top highlights of Bank of India Starloan against property:
The BOI Star loan against property is your gateway to raising funds to fulfill your financial needs for various reasons. The loan is offered in case when you have personal reasons (such as construction/renovation of a house, meeting educational/wedding expenditure), debt consolidation or expansion of business.
The loan amount offered under BOI loan against property is Rs 5 lacs and it ranges up to Rs 10 crore. The loan amount is decided upon a heck of factors which include your income, repayment track, requirements and overall eligibility profile.
The Bank of India loan against property interest rates start from 8.85% per annum and costs up to 9.35% per annum. The BOI loan against property interest rates are impacted by a number of parameters including the loan repayment loan, your relationship with the bank and loan amount.
BOI mortgage loan features an friendly repayment tenure. The loan repayment period offered by the lender is 15 years.
You need to keep up with Bank of India loans against property eligibility requirements which will increase your chances of getting the loan quickly. The BOI mortgage loan eligibility requirements include your age, status of employment etc. and many other factors.
Here are the Bank of India mortgage loan eligibility criteria:
When applying for a BOI loan against property, you need to make sure that you have all the required documents in check for the process. You need to keep all the Bank of India loans against property documents that are required for the loan.
Here are the BOI mortgage loan documents that you need to present to the bank at the time of loan application:
|
Documents |
Salaried Applicants |
Self Employed Applicants |
|
Identity Proof |
Aadhar Card, Voter’s ID Card, Passport, Driving Licence |
Aadhar Card, Voter’s ID Card, Passport, Driving Licence |
|
Address Proof |
PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills |
PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills |
|
Income Proof |
Salary Slips, Bank Statements, Form 16 |
Balance sheet and profit and loss account, IT Returns, Business Proof |
|
Other Documents |
Passport-size Photographs, Duly Filled Application Form, Any Other Documents Required by the Bank |
Passport-size Photographs, Duly Filled Application Form, Any Other Documents Required by the Bank |
|
BANKS |
INTEREST RATE |
|
Starts at 11.25% |
|
|
Starts at 10.85% |
|
|
Starts at 10.50% |
|
|
Starts at 11.25% |
|
|
10.65% to 16.25% |
|
|
Starts at 8.60% |
|
|
Starts at 9.00% |
|
|
Starts at 8.75% |
|
|
Starts at 8.15% |
Bank of India mortgage loan EMI calculator is a tool that helps you know the monthly cost of your BOI mortgage loan EMI. Checking the loan amount EMI will allow you to structure your monthly budget and consider your repayment tenure options.
You can check the loan EMI amount using the Bank of India loan EMI calculator. Alternatively you can hit the BankSathi loan EMI calculator where you have to enter loan amount, repayment term, interest rate and hit the calculate button.
The BankSathi loan calculator will fetch you the detailed calculation of monthly and annual cost of your Bank of India loan against property EMI.
You can head to the nearest branch of Bank of India in case you want to get the mortgage loan from there. All you need to do is navigate to the branch and apply for the BOI loan against property offline.
The bank official will serve you the necessary assistance with mortgage loan application. When you go to the branch, it is advised that you carry all the important documents that you will be required to provide with your loan application.
Apart from visiting the branch, you can reach out to the Bank of India customer care regarding the BOI loan against property application and find assistance with the application.
Do you need more assistance related to the Bank of India loan against property? You can have answers to all your queries related to the BOI mortgage loan simply by contacting the BOi customer support via their toll free number.
Mentioned below are the Bank of India customer care numbers which you can dial in case of any query or grievance:
1800 220 229, 1800 103 1906
The bank charges a processing fee of up to 1% of the total mortgage loan amount plus applicable taxes.
The Bank of India loan against property interest rates range from 8.85% per annum to 9.35% per annum.
The bank allows you to avail the Bank of India mortgage loan amount of up to Rs 10 crore.
You can get a Bank of India loan against property for the repayment term of up to 15 years.
You can pledge your residential, commercial or industrial property as collateral to get the Bank of India loan against property.
You can repay BOI loan against property using the following payment methods:
The minimum age of loan applicants should be 21 years at the time of loan application and the maximum age should not be above 70 years when the tenure completes
Last Updated on : 10/May/2021Know More About
You're eligible for a Bank Of India Loan Against Property if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Loans Against Properties is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
| Bank Of India Loan Against Property Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 8.85% - 9.35% |
| Processing Fees | 1% |
| Loan Tenure | 1 year to 15 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Loans Against Properties EMI Calculator