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Bank of India Personal Loan Details

Bank of India 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
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

Features and Benefits of Bank of India Personal Loan 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 BOI Personal Loan?

Loanbaba provides comprehensive information about personal loan schemes by Bank of India. Keep a note of this page to stay updated with recent information on this bank loan scheme. You can also quickly apply for BOI Personal Loan online on the bank's official 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.

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

  • 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

Below provided are important questions about personal loan BOI.

Customers living in metro, rural areas, urban areas, and semi urban areas avail maximum loan of Rs.5 lakhs.

  • 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

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.

Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of Bank of India.

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