Personal Loan by Bank of India

I want to take Personal Loan from Bank of India and for that I want to get the details so can you provide me that as it is very urgent for me?

[Shaleen]

As you want to get the details of Personal Loan by Bank of India so here is the information of the same for you:

Eligibility:
Salaried employees, Professionals and individuals with high net worth, regular pensioners or family pensioners drawing regular monthly pension through Branch, Staff members, retired employees (other than dismissed/compulsorily retired) of our Bank.

Types of advance:
Demand/Term Loan/Overdraft (reducible as per repayment schedule)
Overdraft limit (not reducible as per repayment schedule) maximum up to Rs.1 lac to confirmed permanent employees of Central/State Govt. /Reputed Corporates and PSU's.

Maximum and Minimu Loan:
Rs.2.00 lacs
Minimum size of loan: - At Metro and Urban Centres: Rs.10, 000/-
At Rural and Semi Urban centres: No minimum size of loan.

Rs.10.00 lacs
Minimum size of loan: - At Metro and Urban Centres: Rs.10, 000/- At Rural and Semi Urban centres: No minimum size of loan.

Rate of Interest (Floating Rate of Interest p.a. at monthly rests):
5.00 % above Base Rate.
(Presently 14.95 %)

Interest concession to women - 0.50 %
[All borrowers to be women]

For Senior Citizens – 3 % above BR. (presently 12.95%)

Financing secured under tie-up arrangement – 4 % above BR.
(Presently 13.95 %)

4.00 % above Base Rate.
(Presently 13.95 %)

Interest concession to women - 0.50 %
[All borrowers to be women]

Repayment:
36 Equated monthly instalments w.e.f. one month after first disbursement. Exceptional cases up to 60 months

Maximum 60 Equated monthly instalments w.e.f. one month after first disbursement from loan account.

Security:
Equitable/Legal Mortgage of commercial or residential properties.
Hypothecation charge on assets acquired.

Collateral security in the form of pledge of GOLD/gold ornaments, NSC/Indira Vikas Patra, Bonds, Assignment of LIC policies, Relief Bonds etc.

Processing/Handling charges:
One time @ 2.00 % of loan amount Min. Rs.1, 000/- and Max. Rs.10, 000/-
Pensioners: One time @ 2.00 % of loan amount, min. Rs. 500/- and max. Rs. 2,000/-.
No processing charges for Senior Citizens (60 years & above)

Contact Details:
BANK OF INDIA
STAR HOUSE
C - 5,
"G" Block,
Bandra Kurla Complex,
Bandra (East),
Mumbai 400 051.
Maharashtra
India
Ph: 022-66684444

Map Location:
[MAP]BANK OF INDIA STAR HOUSE C - 5,"G" Block,Bandra Kurla Complex,Bandra (East),Mumbai 400 051.Maharashtra[/MAP]

Hii Guys , I want to know Bank of India Star Personal Loan Scheme Information , Will you please tell me Details for same ?

[sumit]

Friend For your help ,here I am Sharing Star Personal Loan Scheme Information of Bank of India ,Have a Look :


Bank of India Personal Loan System the Star Personal Loan Scheme provides loans to meet various Personal requirements of customers and their family.

Bank offers loans for marriage expenses, medical expenses, educational expenses, purchase of consumer durables etc.

Maximum quantum of advance is Rs.10.00 lakhs, depending upon the income, with very attractive interest rate and easy repayment plan.

Eligibility :

All Physically Challenged Individuals-both salaried and self-employed,All Physically Challenged Minors through their Parents/Legal Guardians.(No advances to middle-men and NGOs).

Type of Advance emand / Term Loan - Secured.

Amount :Max. ` 1 lac (No minimum stipulation)

Eligible Amount :

10 times of net salary for salaried persons and 50% of net annual income as per latest Income Tax Return for Self-employed/Professionals.Net take home income should not be less than 40% after availing this loan. (In case of Minors, the income of the Parents/Legal Guardians would be the deciding criteria for eligibility).

Margin : 10%

Repayment : 12 to 60 months, Commencing one month after full disbursement/three months after first disbursement, whichever is earlier.

Rate of Interest : At 9% p.a.(Fixed Rate compounded monthly, on daily reducing balance basis).

Security : Hypothecation of the Equipment purchased out of Bank Finance

Insurance : Waived. However, borrower is advised to obtain insurance at his own cost.

Processing Charges : Waived.

Terms and Conditions :
• Doctor's Certificate to be obtained regarding the extent of handicap and the need for the equipment

• Quotation/Invoice in respect of the equipment to be purchased

• Stamped receipt to be submitted after purchase of the equipment