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Tuesday, 22-May-2012

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Solar Water Heaters

SCHEME OF FINANCING FOR SOLAR WATER HEATERS

Features of the scheme:

a. Eligible systems: Solar Water Heaters with both Flat Plate or Evacuated Tubular Collectors (of any size)

b. Borrowers: Any end user such as Individuals, institutions, non- commercial organizations/commercial organizations (hotels, hospitals etc).

c. Loan amount: Upto 85% of the cost of the project as per cost indicated in the enclosed sheets. No separate ceilings stipulated.

In order to be eligible for claiming the Interest Subsidy, the equipment has to be purchased from manufacturers/suppliers approved by the MNES. Details of such "approved" vendors is appended to this circular.

The borrowers are free to select vendors of their choice taking into consideration competitive pricing, after sales service etc.

d. Duration of loan Repayment starts 3 months after the release of funds to the consumers. Maximum repayment period Five years inclusive of this 3 months moratorium period. Repayment would be in Equated Monthly Installments.

e. Rate of interest

2% p.a to domestic users,
3% p.a to institutional users not availing accelerated depreciation and
5% p.a to industrial/commercial users availing depreciation.
Bank may charge penal interest as applicable in case of default.

Announcement

Watch recorded webcast for Press Meet 30.04.2012

Watch recorded webcast for Analyst’s Meet 30.04.2012

Analyst Presentation for 31.03.2012

Financial Result for year ended 31.03.2012

Any complaint regarding NEFT transactions during 20.02.2012 to 6.03.2012 may be escalated to email ID Special.NEFT@bankofindia.co.in or on telephone No. 022-22886680 for immediate resolution.

Chairman & Managing Director's Message & Address

Bank has decided to decrease the Bank’s Base Rate from 10.75% p.a. to 10.50%p.a. and BPLR from 15.00% p.a. to 14.75% p.a. with effect from 01.05.2012

The Managing Committee of the Indian Banks’ Association has appointed Shri Alok K Misra , Chairman and Managing Director, BANK OF INDIA as Deputy Chairman of the Association

Pension Calculator is available on Knowledge Portal front page

Press release launching of Mobile Based Remittance, Urban Financial Inclusion and two factor Authentication

Notice for Debit and ATM cardholders

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