Avail the best interest rates, as Bank of India offers personal loans starting from 9.10% p.a. for a loan amount ranging up to Rs 25 lakh. They also have special offers for pensioners, with rates as low as 11.75% p.a., and for doctors, with rates starting at 12.25% p.a.
Experience seamless services with BOI personal loans. Apply for Bank of India personal loan online now and enjoy the benefits of excellent global service and cost-effectiveness.
Bank of India Personal Loan Details
Discover the convenience and ease of applying online for a BOI personal loan. However, before applying for the same, glance through the interest rates by Bank of India, processing fees, etc that are designed to meet your financial needs in just a few clicks. Experience hassle-free borrowing and quick approvals online.
| Interest rate | Starts from 9.10% p.a to 14.75% p.a. |
| Loan Amount | Up to Rs. 25 lakh |
| Processing Fees | One time 2% of loan amount Rs 1,000 – 10,000 |
| Loan Tenure | 84 months |
Bank of India Interest Rates & Charges
The interest rate is determined based on factors such as applicant type, loan type, and existing relationship with the bank. Bank of India provides personal loans starting from 9.10% p.a. For detailed information on BOI interest rates and charges for various personal loan schemes, refer to their table below for a detailed understanding:
| Name of Personal Loan Scheme | Best for | Rate of Interest (% p.a.) |
|---|---|---|
| BOI Star Personal Loan | Salaried individuals, self-employed individuals, and professionals | 12.15% p.a. and so on |
| BOI Star Mitra Personal Loan | For all physically challenged individuals – minors through their guardian, salaried, and self-employed. | 9.95% p.a. |
| BOI Star DOCTOR – Plus | Registered medical practitioners | 10.95% p.a. to 11.95% p.a. |
| BOI Star Pensioner Loan Scheme | Regular pensioners and family pensioners | 11.15% p.a. |
Types of Bank of India Personal Loan
Bank of India offers a diverse range of loans to suit your unique financial needs. Whether you’re looking for a secured loan with attractive interest rates or an unsecured loan with quick approval, we have options to match your requirements.
BOI Star Personal Loan
- Loan for various financial needs like marriage, education, medical, etc.
- Loan Amount: Up to Rs 20 lakh
- Tenure: Unsecured loan – Up to 3 years, Secured loan – Up to 5 years
- Processing Fees: One-time 2% of the loan amount
BOI Star Pensioner Loan
- Personal loan for pensioners/family pensioners to meet their financial needs
- Loan Amount: Up to Rs 10 lakh
- Tenure – Up to 20 months for secured loans & up to 15 months for unsecured loans,based on net pension
- Processing Fees: One-time 2% of the loan amount
BOI Star Personal Loan – Doctor Plus
- Personal loan for doctors, excluding gold purchase, investment in shares, or speculative purposes
- Loan Amount: Up to Rs 20 lakh
- Tenure: Up to 68 years of age, loan closure before 75 years of age
- Processing Charges: 50% concession in charges compared to the general public’s personal loan charges
Star Suvidha Express Personal Loan
- Special personal loan scheme for select Bank of India customers
- Loan Amount: Up to Rs 20 lakh
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- Tenure: Up to 7 years
Bank of India Personal Loan EMI Calculator
Introducing the Bank of India Personal Loan EMI calculator—a tool for understanding and managing your multi-purpose loan finances.
BOI Personal Loan EMI calculator helps you determine the total EMI, cost of interest and amount payable for different amounts , rate of interest, repayment tenure. Let this EMI calculator simplify your calculations to know the optimum tenure and EMI for Bank of India Personal loan depending upon the repayment capacity of the borrower.
Your Amortization Schedule (Yearly/Monthly)
Comparison of Bank of India Personal Loan Vs Other Banks
When exploring personal loans, it’s crucial to be well-informed about various aspects, such as the benefits of an EMI calculator and having a clear understanding of Bank of India Personal Loan interest rates. Not just that, it’s essential to compare these rates with other leading banks and NBFCs in order to discover the most affordable ones for your borrowing needs.
| Loan Lenders | Interest Rates (p.a.) | Processing fees |
|---|---|---|
| Bank of India | 9.10% p.a -14.75% p.a. | 2% of loan amount |
| HDFC Bank | 10.50% onwards | Up to 2.50% |
| SBI | 11.00%-15.00% | Up to 1.50% |
| ICICI Bank | 10.75% onwards | Up to 2.50% |
| Axis Bank | 10.49% onwards | 1.5% to 2% |
| IndusInd Bank | 10.49% onwards | Up to 3.50% |
| IDFC First Bank | 10.49% onwards | Upto 3.5% |
| Bajaj Finserv | 11.00% onwards | Upto 3.5% |
| Tata Capital | 10.99% onwards | Up to 2.75% |
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Bank of India Personal Loan Eligibility
When it comes to Bank of India’s personal loan eligibility criteria, there are certain factors that the bank considers before approving a loan. This criteria evaluates your personal loan eligibility on the basis of multiple factors including your credit score, age, etc., Following are the Bank of India personal loan eligibility criterias.
| Factors | General Eligibility Criteria |
|---|---|
| Age | Over 18 years |
| Monthly Income | Minimum of ₹10,000 |
| Work Experience | Should be salaried or a self-employed individual |
| Credit Score | 750 |
Not sure of your credit score? Check now for free!
Scheme-Wise Bank of India Personal Loan Eligibility
BOI Personal loan schemes offer competitive interest rates and flexible repayment options. Find out more about these various schemes for a personal loan by checking the criteria below.
BOI Star Personal Loan Eligibility
- Work experience – A salaried,self-employed and should be drawing pension form the bank.
- Residential Status – Indian
- Interest Rate – 12.15% to 14.15% p.a
- Age – 75 years
- Loan Amount – Rs.10,000 – Rs 10 Lakh
- Loan Tenure – 12 months – 60 months
BOI Star Pensioner Loan Eligibility
- Work experience : Family pensioners, retired employees of Bank of Baroda
- Residential Status – Indian
- Interest Rate – 10.25%
- Age – 75 years
- Loan Amount – Rs.10,000 – Rs 10 Lakh
- Loan Tenure – 60 months
BOI Star Personal Loan – Doctor Plus Eligibility
- Work experience : Qualified registered medical practitioner with minimum 3 years’ experience in any branch of medical science
- Residential Status – India
- Age – 75 years
- Interest Rate – 9.75% p.a
- Loan Amount – Rs.10,000 – Rs 10 Lakh
- Loan Tenure – 84 months
Star Suvidha Express Personal Loan
- Work experience : Salaried customers having salary accounts with BOI
- Residential Status – India
- Age – 75 years
- Interest Rate – 10.25%
- Loan Amount – Rs.10,000 – Rs 10 Lakh
- Loan Tenure – 84 months
Bank of India Personal Loan Documents Required
Here is a table for the Bank of India Personal Loan documents required when applying for an BOI Personal Loan:
| ID Proof | Passport/Voter ID/Driving License |
| Address Proof | Driving License/Passport/Aadhar Card/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 certified computation of Income/Balance Sheet/Capital Account Statement/Profit & Loss Account |
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Features of Bank of India Personal Loan
The exclusive features and benefits offered by Bank of India ranges from interest rates to flexible repayment options. Let’s go through the exclusive features and benefits that makes taking BOI loans most convenient and seamless:
Steps to Apply for BOI Personal Loan with Buddy Loan
Here’s the step-by-step process that you can follow to apply for Bank of India personal loan on Buddy Loan:
- Step 1: Visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
- Step 2: Open the Personal Loan Application Page. Provide the mobile number and enter the received OTP.
- Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option
- Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
- Step 5: Enter your work details (Including company name, years of service and Designation)
- Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)
- Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.
Ready to take the next step? Apply for a Personal loan now!
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