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Sunday, 05-Feb-2012

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Star Mitra Personal Loan

(A SPECIAL LOAN SCHEME FOR THE PHYSICALLY CHALLENGED)

Objective

To help Physically Challenged persons to function independently.

Purpose

To purchase durable and sophisticated aids / appliances that promote their physical and social rehabilitation

Eligibility

All Physically Challenged Individuals – both salaried and self-employed,All Physically Challenged Minors through their Parents/Legal Guardians.(No advances to middle-men and NGOs).

Type of Advance

Demand / Term Loan - Secured

Amount

Max.Rs. 1 lac (No minimum stipulation)

Eligible Amount

10 times of net salary for salaried persons and 50% of net annual income as per latest Income Tax Return for Self-employed/Professionals.
Net take home income should not be less than 40% after availing this loan.
(In case of Minors, the income of the Parents/Legal Guardians would be the deciding criteria for eligibility).

Margin

10%

Repayment

12 to 60 months, commencing one month after full disbursement/ three months after first disbursement, whichever is earlier.

Rate of Interest

Fixed Rate compounded monthly on daily reducing balance –1% above Base Rate, 11.75% p.a.

Security

Hypothecation of the Equipment purchased out of Bank Finance

Insurance

Waived. However, Borrower isadvised to obtain insurance at his own cost.

Processing Charges

Waived

Other Terms and Conditions

i.	Doctor’s Certificate to be obtained regarding the extent of handicap and the need for the equipment.
	Quotation/Invoice in respect of the equipment to be purchased.
iii.	Stamped receipt to be submitted after purchase of the equipment.

ALL OTHER TERMS & CONDITIONS INCLUDING DOCUMENTATION OF STAR PERSONAL LOAN SCHEME WILL APPLY

Announcement

Analyst Meet Presentation for 31.12.2011

Reviewed Financial Results for the period ended 31.12.2011

Notice of Board Meeting

Analyst Meet Presentation for 31.12.2011 Reviewed Financial Results for the period ended 31.12.2011 Notice of Book Closure for Bonds

Chairman & Managing Director's Message & Address

Bank of India has decided to abolish prepayment charges on home loans for both fixed and floating rate loans across all tenures for existing as well as new borrowers

Watch recorded webcast of Analyst Meet-30.09.2011

Watch recorded webcast of Press Meet-30.09.2011

Financial Results for the quarter / half year ended 30th September 2011

Analyst Meet Presentation-30.09.2011

Festiva l offer – Rate of interest reduced on Home Loans & Auto Loans.

Watch webcast of 106th foundation day

Bank has decided to increase the Bank’s Base Rate from 10.00% p.a. to 10.75%p.a. and BPLR from 14.25% p.a. to 15.00% p.a. with effect from 28.07.2011.

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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