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  Interest Rate path Interest Rate path retail credit1  
Skip Navigation Links.
InterestRate
banner

Interest Rates on Retail Loans

Rate Of Interest in respect of Retail Loans/Advances linked to Base Rate

VIII. STAR EDUCATION LOAN SCHEME:


Loan Amount

Revised Rate of Interest for New loans w.e.f. 07.11.2016

For loans upto Rs.7.50 lacs

3.00% + 1 Year MCLR p.a.at monthly rests

Education Loan covered under Credit Guarantee Fund Scheme for Education Loan(CGFSEL) limit upto Rs.7.50 lacs

1.70% + 1 Year MCLR p.a.at monthly rests

For loans above Rs.7.50 lacs

2.50% + 1 Year MCLR p.a.at monthly rests

 

  • Simple interest to be charged during the repayment holiday/ moratorium period.
  • 1% interest concession may be provided for loanees, if the interest is serviced during the study period when repayment holiday is specified for interest/repayment under the scheme. No concession will be available from the date of commencement of EMI.
  • The accrued interest during the repayment holiday period to be added to the principal and repayment in equated monthly instalments (EMIs) be fixed accordingly.
  • Penal interest @ 2% to be charged for loans above Rs. 4 Lacs for the overdue amount and overdue period.

Notes:

  • Interest concession for loans/advances to woman beneficiary: 0.50% p.a. for limits up to Rs.50,000/- and 1% for limits over Rs.50,000/- continues.
  • All students pursuing professional courses (like Engineering/Medical/Management etc.) are eligible for 0.50% interest concession but max. Rate of Interest concession under (a) and (b) above is 1.00% p.a. subject to, minimum one year MCLR of the Bank

 

IX. STAR VIDYA LOAN SCHEME:



Loan Amount

Revised Rate of Interest for New loans w.e.f. 07.11.2016

  1. Top 100 Institutes as per List "A" and also newly opened IITs/IIMs
  2. Top Institute 101 to 200 as per list "B"
  3. All other Institutions which are not covered in List A & B
  1. 1 year MCLR p.a.(floating) at monthly rests
  2. 1 Year MCLR(floating) at monthly rests
  3. 0.50% +1 Year MCLR(floating) at monthly rests
    • No concession to Girl students
    • No concession for servicing of interest during study/ moratorium period. No other concession will be available
    • .


X. PRADHAN MANTRI KUSHAL RIN YOJANA (SKILL LOAN SCHEME)



Revised uniform Rate of Interest for New  loans w.e.f. 07.11.2016

1.50% + 1 Year MCLR p.a. (floating) at monthly rests.

  • 1% interest concession may be provided for loanees, if the interest is serviced during the study period when repayment holiday is specified for interest/repayment under the scheme. No concession will be available after commencement of repayment.
  • No other concession in ROI will be available.

XI. STAR IPO

Scheme

Revised for existing loans w.e.f.  07.11.2016

Star IPO

3.25% + BSS (0.30%) above 1 Year MCLR Upto 60 days
4.50% + BSS (0.30%) above 1 Year MCLR Over 60 days



XII. EARNEST MONEY DEPOSIT (EMD) SCHEME –



Scheme

Revised for new loans w.e.f. 07.11.2016

Earnest Money Deposit

  • Short Term

BSS (0.30%) above 1 Year MCLR

  • Long Term

5.00% + BSS (0.30%) above 1 Year MCLR



1    2    3
Announcement        Start | Stop

BOI Financial Results 30.06.2017


Press Release from IBA new


Integrity Pledge Count new


Public Notice for Unclaimed Dividend


List of Wilful Defaulters


With the implementation of Goods and Services Tax (GST), the existing service tax rate of 15% has been replaced by GST rate of 18% from July 1, 2017


All customers are requested to provide GSTIN to their branch alongwith supporting documents to claim input credit.


Annual Report 2017


We request our esteemed customers to urgently have their KYC details updated / corrected to avoid freezing of accounts new


MCLR w.e.f. 10.08.2017


Empanelment Of Sarfaesi Valuers


Details of unpaid / unclaimed Dividend


As part of FATCA/CRS requirements, all customers are requested to submit Declaration Form (For Individuals) / Declaration Form (For Entities) click to download with supporting documents to their Parent Branch immediately. Non-Compliance with this requirement may lead to freezing or closure of account as per guidelines.


Base Rate revised to 9.55% w.e.f 31.03.2017


List of Recovery Agents/ Enforcement Agents/Detective Agency of Lucknow Zone


Change of Registrar and Share Transfer Agent


Notice to CD Customers


Notice to Customers


Notice to SB Customers


ATM transactions for savings Bank A/c Customers


Notice for our DEMAT Account Holders


Top
arrow
images © 2012 Bank of India. All rights reserved Site best viewed in resolution of 1024x768 ipv6 ready images
rect Ac Checker
retail credit1