||BOI Star Personal Loan Scheme
||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.
- Marriage expenses of self, son, daughter or a dependent near relative.
- Medical Expenses incurred/to be incurred for self, spouse, children, dependent near relative.
- For education of self/spouse/ children/ near dependent relatives.
- For repairs/ renovation/ extension of existing house/flat.
- Any other personal expenses of bonafide nature as approved by the Bank
- Repayment of existing housing loans from other banks/Financial Institutions, etc.
- Repairs/ Renovation/ Extension of House property. Education of self, spouse, children, near dependent relatives.
- Purchase of consumer durables, computers, professional equipment’s etc.
Min. Size of loan
Minimum size of loan: - At Metro and Urban Centres: Rs.10, 000/-
At Rural and Semi Urban centres: No minimum size of loan.
Minimum size of loan: - At Metro and Urban Centres: Rs.10, 000/- At Rural and Semi Urban centres: No minimum size of loan.
|Quantum of Advance
- 10 times of monthly net Emoluments(take home pay) in case of salaried Employees
- 50 % of Gross Annual Income as per last Income Tax Returns for professionals/individuals of high net worth
- 20 times of monthly Gross Emoluments in case of salaried Employees
- 100 % of Gross Average Annual Income as per last three years Income Tax Returns for professionals/individuals of high net worth
||Note :While fixing the limit. It should be ensured that the net take home pay / Income (net of EMI of the proposed advance) is not less than 40 % of gross income of the applicants.