Corporate Site |
Hindi Marathi
[+] [-] | Skip to navigation | Skip to main content | screenreader Contrast Scheme : contrast
              1800 220 229 ,1800 103 1906,
              022 40919191
rect rect
yo You are here path  Retail path Retail-Loan path BOI Star Loan Against Property  
banner
 
Star Loan Against Property Scheme
 
  1. PURPOSE :
    1. To meet the credit needs of trade, commercial activity, other general business/profession, as also for their bona fide requirements;
    2. To meet educational expenses of family members including near relatives
    3. To undertake repairs/renovation/extension to the residential/commercial property;
    4. To purchase / construct residential house/flat, purchase of plot of land for construction of house/ premises for business/commercial use *;
    5. For Repayment of existing loans availed from other Banks / FI’s conforming to the extant guidelines regarding “takeover” of account.


Note:

  1. Suitable declaration to be submitted by the applicant regarding the purpose.
  2. The facility not extended for speculative purposes including investing in equities;
  3. The facility is not extended to builders/developers/promoters/real estate agents for real estate activities such as purchase of land/construction with intent to sell or holding real estate stock for sale / re-sale purposes.
  4. *Advance for purpose (d) above to be based on mortgage of property already owned by the proponent.

  1. ELIGIBLE CUSTOMERS :
    People engaged in trade, commerce and business, professionals, self-employed, individuals with high net worth, salaried people, Proprietary firms, Partnership firms, Companies (Pvt. /Public Ltd.,) HUFs (excluding partnership firms where HUF is a partner), Societies, Staff members, NRIs- subject to compliance of Bank’s/RBI guidelines.

    INELIGIBLE PERSONS: NBFC, Trust and Partnership firm where HUF is a partner are not eligible for advances under this scheme.

  1. ADVANCES TO INDIVIDUALS: MAXIMUM AGE LIMIT:
    a) Individuals in permanent service max. 60 years.
    b) For Proprietary concerns/Self Employed/non-salaried people – Maximum -70 Years
    (Age limit is the maximum age at the end of the repayment Period);

 

  1. TYPE OF ADVANCE :
    Demand/Term Loan , Overdraft (Reducible/Non-Reducible)

 

  1. QUANTUM OF ADVANCE :
    The quantum of advance to be related to the value of security, margin requirement , take home pay and repayment capacity of the proponent , subject to limits as under :-


 

Demand/Term Loan

Overdraft
(Reducible)

Overdraft
(Not-Reducible)

Individual-Salaried/ Self-employed/ Professionals

500

200

NIL

Doctor/s- in case of joint accounts all to be doctors

500

500

NIL

Others i.e. Proprietorship/ Partnership Firm/Company etc.

500

500

500

 
 
 
May We Reach You ?
Announcement        Start | Stop
Top
arrow
images © 2012 Bank of India. All rights reserved Site best viewed in resolution of 1024x768 ipv6 ready images
rect Ac Checker
BOI Star Loan Against Property