Bank of India Personal Loan

Bank of India star star star star star 3.75 / 5.04 users

The Bank of India (BOI) has amazing Personal Loan schemes with immediate benefits to its customers. The primary reasons to why  Bank of India Personal Loan is most preferred, is, these loans can be used for many purposes, and carry low rate of interest. The customers receive holistic service and can take benefit of different kinds of personal loans.

Bank of India Personal Loan Details Updated on 18th September 2018
Loan Amount Rs.10,0000 to Rs.10,00,000
Loan Tenure 5 Years
Interest Rate 12.60% to 14.60%

Why Choose BOI Personal Loan?

  • The advantage of this loan is its same interest throughout the duration.
  • Simple documentation is needed and the personal loan in Bank of India then gets processed faster.
  • The customers can pay off the loan in easy instalments every month and can repay it via auto debit or PDC or ECS.
  • You can check out Bank of India personal loan eligibility and Bank of India personal loan EMI calculator at loanbaba.com.

Features and Benefits of Bank of India Personal Loan

Loanbaba.com provides all the information about BOI Personal Loan.

  • Loan for multi-purposes

The bank offers personal loans for numerous purposes including education, wedding expense, tours, renovations, purchase of customer durables, etc.

  • Huge amount of loans

Individuals can avail loans up to Rs 10 lakhs. The quantum is however decided based on the repayment capacity of the person.

  • Rate of Interest

It offers attractive interest rates on personal loans. Specific rates apply based on secured or unsecured personal loans.

  • Perfect customer service

The bank has its customer service helpline to enable its borrowers and clients connect with the bank for queries. They can also visit the nearest branch to get more details about the issue.

  • Different types of loans

The Bank of India offers secured as unsecured personal loans to the borrowers. The unsecured personal loans are usually for complying with medical expenses, renovation and repair of the house, education fee, etc. The secured loans, on the other hand, can be used to repay the previous pending loans.

Why Apply for Bank of India Personal Loan on Loanbaba.com?

At Loanbaba, you can compare and apply for personal loans online. You can check out several personal loan schemes by Bank of India and go through all their features such as quantum of loan, amount of loan, processing fees, interest rates, and other conditions, at one page. You can also quickly apply for BOI Personal Loan online on our website without having to visit the bank branch. It is simple and easy, and you can upload all the required documents online. Disbursal is done at the soonest, and you can keep a track of your loan application on the website.

How to Apply for BOI Personal Loan on Loanbaba.com?

Visit this link- https://www.loanbaba.com/personal-loan/ to apply for BOI personal loan or any other bank/NBFC personal loan at Loanbaba.

Bank of India Personal Loan Interest Rates

Personal Loan Bank of India lowest interest rate ranges between 12.60% – 14.60%. Keep a check on this page to note the updated interest rate for BOI personal loan.

Bank of India Personal Loan Eligibility

Personal loan eligibility may differ from one candidate to another. You can also use free-of-cost Bank of India personal loan eligibility calculator at Loanbaba.com.

  • The applicant should be over 18 years and specifically an Indian resident.
  • The applicant should either be a professional, salaried employee, high worth individual, regular pensioner, a family pensioner with monthly pension withdrawal from the bank branch, staff member or a retired employee.
  • The applicant should be a regular source of income with a good credit score.

Types of Bank of India Personal Loans

BOI has personal loan schemes for professionals and salaried individuals. The amount taken as loan can be used for either multiple or specific purposes.

Bank of India Personal Loan FAQs

  • addFAQs

    Below provided are important questions about personal loan BOI.

    1. What is the maximum unsecured personal loan by Bank of India?
    2. Customers living in metro, rural areas, urban areas, and semi urban areas avail maximum loan of Rs.5 lakhs.

    3. What are the documents required for Bank of India personal loan?
      • Two recent photographs of the applicant.
      • Copy of photo identity proof: Passport, Aadhar card etc.
      • Duly filed application form for personal loan
      • All documents must be verified and attested
    4. What is the accepted collateral for personal loan BOI?

    The Bank of India considers equitable and legal mortgage of the commercial or residential properties as security. This security is taken in the form of Kisan Vikas Patra, Indira Vikas Patra, and relief bonds, a pledge of gold or jewellery and LIC policy assignment.

Bank of India Personal Loan Review


Personal Loan
star star star star star 12.0/5
Personal loan by Bank of India was perfect, but the turnaround time is something they can work upon.
Mumbai September 16, 2018
Personal Loan
star star star star star 15.0/5
I had applied my personal loan in Mumbai at Bank of India. I was in dire need of funds and fortunately got the loan amount soon.
Mumbai September 16, 2018
Personal Loan
star star star star star 15.0/5
Taking personal loan in Gujrat by Bank of India through online portal of loanbaba was after all not a bad idea. This way I could communicate with the Corporation without having to come over to their branch. All by documentation was sorted and I got the loan in decent time.
Mumbai September 14, 2018
Personal Loan
star star star star star 13.0/5
The Bank of India has disbursed the loan amount required and I am satisfied with it. The interest rate and the charges are average.
Mumbai September 13, 2018

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