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Personal

BOI Star Personal Loan

  • Star Personal Loan Scheme provides loan to meet various Personal requirements of customers and their family.
  • Bank offers loans for marriage expenses, medical expenses, educational expenses, purchase of consumer durables etc. Maximum quantum of advance is Rs.20.00 lacs, depending upon the income, with very attractive interest rate and easy repayment plan.
  • To fulfil your Personal Loan needs, just give a missed call on 8010968305 or SMS to 7669300024.
  • Please visit our nearest branch for details.

Product

BOI Star Personal Loan scheme

Eligibility

Salaried permanent 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.5 lacs to confirmed permanent employees of Central/State Govt. /Reputed Corporates and PSU's.

Types of advance

Demand/Term Loan/Overdraft (reducible as per repayment schedule) Overdraft limit (not reducible as per repayment schedule) maximum up to Rs.5 lacs to confirmed permanent employees of Central/State Govt. /Reputed Corporates and PSU's.

Purpose

Any bonafide purpose other than speculation.

Max. Loan

  • Unsecured: Rs. 10.00 lacs
  • Secured: Rs. 20.00 lacs

Quantum of Advance

Unsecured/Clean :-

  • Salaried persons: 15 times of monthly Net Emoluments.
  • Other individuals: 100% of Gross Average Annual Income as per last three Income Tax Returns.
  • Secured :-

  • Salaried persons: 30 times of monthly Gross Emoluments
  • Other individuals: 200% of Gross Average Annual Income as per last three Income Tax Returns.
 

Note :While fixing the limit. It should be ensured that the net take home pay / Income (net of EMI of the proposed advance) should not be below the stipulation as under:

Net take home Monthly gross income
40% Upto Rs. 1 lacs
30% Rs. 1 lacs to 5 lacs
25% Rs. 5 lacs and above

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