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    Bank of India Personal Loan

    Customers and their families can use the BOIâs Star Personal Loan Scheme to address a variety of personal needs. The bank provides loans for wedding expenses, medical bills, school expenses, and consumer durable purchases, among other things. The maximum amount of advance is Rs.20.00 lacs, depending on income, with a low interest rate and simple payback terms.

    Comparison of Interest Rates of Bank of India Personal Loan vs other Banks/NBFCs

    Banks Interest Rates (per annum)
    Bank Of India Personal Loan 10.35% to 11.35%
    SBI 9.60% â 13.85%
    9.60% â 13.85% 10.25% â 21%
    PNB 7.90% â 14.50%
    ICICI Bank 10.50% â 19%
    Axis Bank 10.25% p.a. onwards
    Kotak Mahindra Bank 10.25% onwards
    IndusInd Bank 11.00% onwards
    IDFC First Bank 10.49% â 23%
    Bajaj Finserv 13.00% onwards
    Tata Capital 10.99% onwards

    Different Kinds of Bank of India Personal Loan

    BOI Star Personal Loan

    Purpose: To meet all of the applicants’ personal financial needs, such as marriage, schooling, and medical care.
    Interest Rate:Starting at 10.35 percent p.a.
    Loan Amount: Up to Rs 20 lakh
    Tenure: Up to 3 to 5 years of tenure
    Processing Fee: A one-time fee of 2% of the loan amount is charged.

    BOI Star Pensioner Loan

    Purpose: The purpose of the BOI Star Pensioner Loan is to meet the personal financial needs of retirees and their families.
    Interest Rate: 9.35 percent p.a.
    Loan Amount: Up to Rs 10 lakh
    Processing Fee: A one-time fee of 2% of the loan amount is charged.

    Doctor Plus BOI Star Personal Loan

    Purpose: The purpose of the BOI Star Pensioner Loan is to meet the personal financial needs of retirees and their families.
    Interest Rate: 9.35 percent p.a.
    Loan Amount: Up to Rs 10 lakh
    Processing Fee: A one-time fee of 2% of the loan amount is charged.

    Doctor Plus BOI Star Personal Loan

    Purpose: Other than gold purchases, stock investments, and speculative purposes, any allowed purpose for certified medical practitioners.
    Interest Rate:: 8.85 percent per annum â 9.85 percent per annum
    Loan Amount: Up to Rs 20 lakh
    Tenure: Up to 68 years of age is allowed for tenure
    Processing Fee: Processing fees are reduced by 50% for members of the public who apply for a personal loan.

    Personal Loan BOI Covid-19

    Purpose: Covid-19 Credit Line for Emergency purpose.
    Interest Rate: RBLR is a floating rate with a monthly rest.
    Loan Amount: Up to Rs 5 lakh
    Tenure: up to 3 years
    Processing Fee: NO FEES FOR PROCESSING

    Interest Rates on BOI Covid-19 Pensioner Loans

    Purpose: Pensioners receiving benefits from the Treasury/DPDO might receive up to Rs 1 lakh in benefits.
    Loan Amount: Up to Rs 2 lakh – Rs 0.75 lakh
    Tenure: Up to 3 years of tenure
    Processing Fee: NO FEES FOR PROCESSING

    Why Choose a Bank of India Personal Loan?

    Personal loans from the Bank of India are excellent options for those who require cash quickly. The loan amount can be utilised to cover a wide range of expenses, including wedding costs, medical costs, and education costs, among others. Interest rates start at 10.35 percent per annum. Personal loans from Bank of India include repayment terms ranging from 12 to 60 months. A personal loan from Bank of India can be used to borrow up to Rs. 20 lakh.

    Prepayment of Bank of India Personal Loan

    Prepaying your current personal loan in full or foreclosing it is deemed favourable and can help you raise your CIBIL score. An enhanced credit score can help you conclude your next loan application faster and negotiate better terms with the lender.

    In BOI for Xpress Credit, Xpress Power, and Pension Loans, the interest rate is 3% on the amount prepaid. If the loan account is closed using funds earned from a new loan under the same scheme, there will be no prepayment/foreclosure charges.

    What makes RupiLoan right platform to apply for an Individual Loan?

    Most trustworthy lenders

    In order to present you with the best loan alternatives from various lenders in one place, Rupiloan has partnered with more than 30 banks, non-bank financial institutions, and fintech businesses.

    Make comparisons

    What’s the best option? Using a few mouse clicks, you can research and compare personal loan offers from India’s leading banks, non-banking financial institutions (NBFCs), all on one screen.

    Personalised options available

    With a high degree of acceptance assurance, we provide customised solutions RupiLoan ranks personal loan offers based on your credit score and other qualifying factors to determine which ones are most relevant to you. Your loan application will be accepted if you use this information to help you choose the best deal.

    Can gain benefit from Pre-approved loans

    These loans are those that have already been authorised. Once you’ve joined the Rupiloan community, you’ll get personalised pre-approval offers for personal loans based on your credit score and history. There is minimal to no verification required for these loans and the processing expenses are inexpensive.

    Right advice

    RupiLoan’s team of experts will assist you in every stage of the procedure, coordinate with lending banks/NBFCs, and help you get the best personal loan for your needs.

    When it comes to applying for a personal loan, Rupiloan.com is a 100% digital-only company, which means that you can apply from the comfort of your own home with zero to little paperwork and an entirely digital experience.

    End-to-end Assistance

    After you complete your loan application, RupiLoan representatives will visit your home or place of business at a mutually agreed-upon time and day to pick up any physical papers that is needed. RupiLoan takes care of everything for you, so you don’t have to go to a lending institution in person to submit your documentation. Comprehensive Help from Start to Finish RupiLoan’s team is always by your side, working with the lenders to make sure you have an excellent experience from beginning to finish, from searching for a loan choice to getting the sanctioned money in your bank account.