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%|
Loanbaba.com provides all the information about BOI Personal Loan.
The bank offers personal loans for numerous purposes including education, wedding expense, tours, renovations, purchase of customer durables, etc.
Individuals can avail loans up to Rs 10 lakhs. The quantum is however decided based on the repayment capacity of the person.
It offers attractive interest rates on personal loans. Specific rates apply based on secured or unsecured personal loans.
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.
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.
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.
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.
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.
BOI has personal loan schemes for professionals and salaried individuals. The amount taken as loan can be used for either multiple or specific purposes.
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.
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.
Personal loan by bank of India was perfect, but the turn around time is something they can work upon.
Ajeet G. Pathak
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.
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 Bank of Indiawithout having to come over to their branch. All by documentation was sorted and I got the loan in decent time.
The Bank of India has disbursed the loan amount required and I am satisfied with it. The interest rate and the charges are average.