BANK OF INDIA PERSONAL LOAN

Bank of India Personal loan offers financial cushion to the customers who wish to fulfill any financial requirements. This loan is available to meet different types of personal purposes such as wedding expenses, medical expenses, education expenses, to pay off all the existing debts, to enjoy vacations etc. The bank provides personal loans in the form of secured and unsecured loans. You can either avail the BOI secured loan by pledging security as collateral or you can get the BOI unsecured loan in which you need not to offer any security to the bank. The Bank of India Star personal loan comes at competitive rates and minimal documentation. 

BOI Personal Loan Interest Rates & Charges

Bank Of India Personal Loan Features and Benefits

These features and benefits of BOI personal loan are the highlights that you can consider when looking for a personal loan:

1. Loan for Different Purposes : BOI Star home loan offers funds to fulfill different needs and wants. You can use the personal loan to meet wedding expenses, education expenses, travel expenses and other expenses, as approved by the bank. You can also count on BOI personal loan to pay off your debts and to renovate/repair your home. 

2. Types of Personal Loan : Bank of India provides secured and unsecured types of personal loan. You have to offer security as collateral to the bank to avail BOI secured personal loan. On the other hand, the secured personal loan by Bank of India does not require to provide any security as collateral. 

3. Interest Charges : The BOI Star personal home interest rates start at 10.85% per annum and range up to 12.85% per annum. 

4. Loan Amount : Bank of India personal loan allows customers who reside in metro or urban areas to apply for the minimum Rs 10,000 as secured personal loan amount. The maximum loan amount the customers from metro and urban areas can avail is Rs 10 lakh. When it comes to the customers from semi-urban and rural areas, there is no minimum amount. In case of Bank of India unsecured personal loan amount, the customers can avail up to Rs 5 lakh loan amount. 

5. Loan Tenure : Bank of India allows you to repay your BOI Star personal loan with a flexible amount of time. You get the repayment tenure of up to 36 months to repay unsecured personal loan and up to 60 months to repay secured personal loan. BOI enables you to repay your personal loan in monthly installments.

Bank Of India Personal Loan Schemes

Eligibility Criteria for Bank of India Personal Loan

The bank checks your eligibility before availing you the personal loan. The eligibility for personal loan is assessed based on many important factors such as the employment status of a customer, income, creditworthiness etc. Therefore, it is essential that you look at the eligibility criteria for personal loan before heading to the application part.

Here is the eligibility criteria for BOI personal loan that you should meet:

• The applicant should be at least 21 years old to avail the loan.
• The applicant should be a salaried or self employed person or a self employed professional.
• The applicant should have a steady income.
• The applicant should have a good credit history. 

Documents Required for Bank of India Personal Loan

You should have the following documents that are required for the procedure of BOI Star personal loan:

Bank of India Star Personal Loan EMI Calculator

Bank of India offers you to use the loan EMI calculator which you can use to find out the total amount of installment you have to pay every month to repay the loan. 

Here is how to use the Bank of India Personal Loan EMI calculator:

• Navigate to the official website of Bank of India.
• Tap on the menu at the top right corner of the page. 
• Find and click on the “Calculator” option.
• Stop at the EMI Calculator.
• Enter the required information: total personal loan amount, loan repayment period and the rate of interest applicable.

You can now see the “Monthly Loan EMI” payment now. 

COMPARE OTHERS BANK PERSONAL LOAN INTEREST RATES :

How to Apply for Bank of India Star Personal Loan

If you want to apply for the Bank of India personal loan then all you need to do is visit the nearest branch of Bank of India. There, you can enquire about this type of loan and gain more information. When visiting the BOi branch, it is best that you carry the necessary documents which you will need at the time of personal loan application procedure. 

Alternatively, you can dial 8010968305 and give a missed call on it to apply for the Bank of India personal loan.Or you simply send an SMS  <HL> to 7669300024. The bank will give you a call to proceed with your home loan application. 

Bank of India Customer Service Contact Information

If you want to get started with the personal loan application or you have any query or complaint regarding the loan, then you can reach out to the customer service of Bank of India. 

Here are the numbers that you can dial:

1800 220 229
1800 103 1906

FAQs  On Bank Of India Personal Loan

Q.1 What can I pledge as security for BOI Star personal loan?

You can pledge mortgage of commercial or residential property, gold articles, policies or bonds as security in order to avail the Bank of India secured personal loan. 

Q.2 How can I check the status of my BOI Star personal loan?

You can check the status of your Bank of India personal loan application by calling the customer service.. You can also log into your NetBanking account to keep an eye on your personal loan application status.

Q.3 How can I calculate the installment for my personal loan from the Bank of India?

You can use the Bank of India Loan EMI calculator to calculate the monthly instalments which you will have to pay for BOI personal loan. The calculator requires the total amount of loan you avail, loan repayment tenure and the rate of interest to fetch you the amount. 

Q.4 What is the interest rate of a Bank of India personal loan?

Interest rates for Bank of India personal loan starts from 12.15% to 14.15%.