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  • Bank of India (BOI) Loans for Doctors/Physicians is Rated as "Excellent!" by 51 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    Bank of India (BOI) Loans for Doctors/Physicians

    Founded in 1906, the Bank of India (BOI) currently has over 4963 branches across the country in addition to presence in 22 countries. Bank of India offers a wide range of products and services catering to various sectors such as retail, MSME, corporate, NRI and rural. Bank of India aims to deliver high quality banking solutions based on state-of-art technology and innovative, customer-centric services.

    Purpose of Bank of India (BOI) Loan for Doctors

    Doctors who want to avail of loans offered by Bank of India can uses for the following as listed below:

    Type of loan Purpose
    Personal loan
    • Buying shares
    • Purchase of Gold
    • Any other purpose
    Vehicle loan Purchase of a vehicle
    Apply for Personal Loan

    Features of bank of India Loan for Doctors – Personal

    The features of BOI loans for doctors who wish to avail personal loan are listed in the table below:

    Features Description
    Eligible criteria Registered medical practitioner with at least 3 years of experience. The doctor should have practised in MCI recognised branch
    Type of borrowing
    • Individual
    • Joint
    • Proprietorship
    Type of loan/advance facility
    • Demand/ term loan
    • Overdraft (reducible)
    • Overdraft (non-reducible). If a doctor defaults twice, the account will be converted to reducible overdraft
    Age

    Minimum:25 years

    Maximum: 75 years

    Loan Amount Salaried doctors Others Take Home Pay (THP)

    Maximum: Rs.20 lakh

    24 times the (gross) monthly income

    2x of gross annual income as per IT returns

    The table below shows the details

    Gross Monthly Income THP (%)
    Upto Rs.1 lakh 40
    Above Rs.1 lakh and up to Rs.5 lakh 30
    Above Rs.5 lakh 25%
    Security The following table shows the details
    Limit Security
    Up to Rs.5 lakh None
    Above Rs.5 lakh and below Rs.1 lakh Requires guarantee by a third party (one person per account)
    Above Rs.10 lakh and below Rs.20 lakh Requires collateral security
    Margin None
    Repayment 84 months (loans and overdraft reducible)

    Interest Rate – Bank of India (BOI) Loans for Doctors

    The Bank of India offers a base rate of 9.7%. The effective rate of interest is base rate+3%

    Features of BOI Loans for doctors – Vehicle

    The features of BOI loans for doctors who wish to avail vehicle loans are listed in the table below:

    Features Description
    Eligible criteria Registered medical practitioner with at least 3 years of experience. The doctor should have practised in MCI recognised branch
    Type of borrowing
    • Individual
    • Joint
    • Proprietorship
    Type of loan/advance facility Demand/ term loan
    Age

    Minimum:25 years

    Maximum: 75 years

    Loan Amount Salaried doctors Others Take Home Pay (THP)

    Maximum: Rs.1 crore (for purchase of two vehicles)

    36 times the (gross) monthly income

    3x of gross annual income as per IT returns

    The table below shows the details

    Gross Monthly Income THP (%)
    Upto Rs.1 lakh 40
    Above Rs.1 lakh and up to Rs.5 lakh 30
    Above Rs.5 lakh 25%
    Security Hypothecation of assets required

    Margin Up to Rs.25 lakh

    Above Rs.25 lakh

    • Doctor has to bear charges related to registration, road tax and insurance
    • BOI can include insurance premium in the loan amount if the doctor opts for insurance from NICL
    • No margin on showroom price
    • 10% margin on showroom price
    • Doctor has to bear charges related to registration, road tax and insurance
    • BOI can include insurance premium in the loan amount if the doctor opts for insurance from NICL
    Repayment 84 months

    Bank of India Loan for Doctors Interest rate

    The Bank of India currently has a base rate of 9.7%. The effective rate of interest is base rate+0.4%

    Bank of India (BOI) Loans for Doctors/Physicians Reviews

    • Bank of India Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I took a personal loan from the Bank Of India for 50000. The experience was good, after submitting the documents I got the loan amount with in 2 days. The interest rate was very good. I'll have to pay an EMI of 1200 for 48 months. It has been a good experience so far.
      Was this review helpful? 13
      , belgaum
      Reviewed on Jul 24, 2018
    • Bank of India Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a very good experience i had with them and the loan amount which they had provided had been satisfactory and the interest rate with them also had been good as well. The services from the staff and their customer support also had been well and good.
      Was this review helpful? 8
      , mumbai
      Reviewed on Jul 12, 2018
    • Bank of India Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan I have taken personal loan from the Bank of India . Am satisfied with the rate of interest which they have provided . There is no processing fees they provide 3 years tenure period . They came in person and provided the loan . Am satisfied with customer service
      Was this review helpful? 4
      , hyderabad
      Reviewed on Jun 24, 2018
    • Bank of India Personal Loan
      "BEST SERVICE"
      0.5 5.0/5 "Blown Away!"
      Taken personal loan from Bank of india , with promising rate of interest while comparing to other banks available in market. Easy approval process , am satisfied with the loan amount based on my requirements . Customer service and the customer response is best in terms of clearing queries .
      Was this review helpful? 1
      , navi mumbai
      Reviewed on Apr 30, 2018
    • Bank of India Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The BANK OF INDIA has offered me the loan on time, they have delivered the required loan amount and I am satisfied with it. The customer support service and the response is good with the BANK OF INDIA and I am satisfied with the interest rate which they have offered was very low when compared with other banks.
      Was this review helpful? 3
      , chennai
      Reviewed on Apr 23, 2018
    • Bank of India Personal Loan
      "Better card to use"
      0.5 4.0/5 "Great!"
      Bank of India has disbursed my personal loan amount within 10 days of time. The customer support service is good with the bank of India. The rate of interest and the charges are good with the bank of India. The prompt response has been given by this bank.
      Was this review helpful? 2
      , new delhi
      Reviewed on Mar 23, 2018
    • Bank of India Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with BANK OF INDIA 1 year back. The loan amount was 11 lakhs and the Interest rate was satisfactory . The loan process was very smooth and easy. The loan was approved on time and they have provided door step service for collecting documents.
      Was this review helpful? 2
      , coimbatore
      Reviewed on Feb 27, 2018
    • Bank of India Personal Loan
      "Personal loan with BOI"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from BOI. The approved loan amount was 40000. The rate of interest was nominal only. The monthly EMI comes around 860 with a total tenure of 4 years. 2 years i have paid the EMI.The customer service and response is good.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Feb 20, 2018
    • Bank of India Personal Loan
      "Better"
      0.5 4.0/5 "Great!"
      My personal loan was taken with BANK OF INDIA 6 months back. The loan amount was 12 lakhs and the Interest rate was 8.52% and the tenure period was 3 years . Here the loan process was good and the processing fee was nominal. I had a good experience here overall .
      Was this review helpful? 2
      , mumbai
      Reviewed on Jan 31, 2018
    • Bank of India Personal Loan
      "Need improvement "
      0.5 2.0/5 "Expected more"
      The bank of India personal loan service was not up to the mark and they never gave me the response which I was expected from them. The response part need to be improved with the bank of India personal loan services. The rate of interest and the charges are average with the bank of India, rather I would say it is lesser than HDFC bank.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jan 16, 2018
    • Bank of India Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have taken Personal Loan from Bank of India and the experience was very good. The loan amount was for Rs 2.5 lakhs with the rate of interest of 14.99% which is nominal rate. This was a preapproved loan and the loan amount was disbursed within a day. Customer service was good and they followed up on time. The tenure of the loan is 4 years and it was overall a good service from BOI.
      Was this review helpful? 2
      , kolkata
      Reviewed on Jan 09, 2018
    • Bank of India Personal Loan
      "Better service"
      0.5 5.0/5 "Blown Away!"
      I had applied for the personal loan from Bank of India, my loan application was approved and the requested amount was disbursed. The loan amount was for 1 lakh with the rate of interest of 11% which is nominal when compared to other banks. Door step service was given to collect the documents. The customer service was good and they responded well. The process was very smooth and the loan amount was approved within 2-3 days.
      Was this review helpful? 2
      , ahmedabad
      Reviewed on Nov 13, 2017
    • Bank of India Personal Loan
      "OK OK EXPERIENCE"
      0.5 2.0/5 "Expected more"
      I am having a ok ok experience with the Bank of India as i took a personal loan from there . Customer service was good the bank provided me the rate of interest of 16% as it was high and also charged me rupees 3500 . I did not had an option so i took the loan from there .
      Was this review helpful? 1
      , raipur
      Reviewed on Oct 29, 2017
    • Bank of India Personal Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      I went to Bank of India branch, they provided me preapproved option within a day they processed the loan and got the disbursed at end of the day. I took the loan amount of Rs.75 lakhs with 14% of interest. Now it got closed and I got NOC, they done simple documentation process.
      Was this review helpful? 1
      , bangalore
      Reviewed on Oct 11, 2017
    • Bank of India Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Bank of India has approved and disbursed my loan within 10 days of time. The customer service with bank of India is very good. The way they give response to the customer is very good. The rate of interest is nominal when compared with others. I am satisfied with the loan amount.
      Was this review helpful? 4
      , bangalore
      Reviewed on Aug 17, 2017
    • Bank of India Personal Loan
      "Process is good. "
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from Bank of India and the experience to get this loan was not a huge deal. The process was simple and the documentation was not much. The response was timely and I got the funds I needed with a normal interest rate and charges.
      Was this review helpful? 1
      , warangal
      Reviewed on Aug 10, 2017
    • Bank of India Personal Loan
      "100000"
      0.5 1.0/5 "Really Bad"
      Ranveer Kumar S/O- Saryug Sharma At- Kazichak Po+Ps- Barh Dist-Patna (Bihar) 803213 It was an excellent process with Bank of India. I had taken a personal loan and the bank has very good options. I got a lesser rate of interest and I can also close my loan any time in the tenure of five years and I do not get charged for it. Also their customer services are good too.
      Was this review helpful? 4
      , patna
      Reviewed on Jul 04, 2017
    • Bank of India Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I took personal loan from Bank of India .Nearly 13.5% rate of interest was offered and within 10 days the loan was disbursed. Rs.1500 to 2000 was charged as the processing fee. I felt that the service is good. I have the salaried account with them so the process went on smooth.The loan amount given was less comparing to the other banks
      Was this review helpful? 3
      , bhubaneshwar
      Reviewed on May 25, 2017
    • Bank of India Personal Loan
      "Best in terms and conditions"
      0.5 5.0/5 "Blown Away!"
      It was an excellent process with Bank of India. I had taken a personal loan and the bank has very good options. I got a lesser rate of interest and I can also close my loan any time in the tenure of five years and I do not get charged for it. Also their customer services are good too.
      Was this review helpful? 1
      , rourkela
      Reviewed on May 22, 2017
    • Bank of India Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Bank of India personal loan process is good. They provide very good service I had taken this loan loan back and it is closed as well I had opted for 7 laks rupees loan amount with rate of intrerst 9% they have not charged any processing fee just . I just gave voter id and company letter. They had charged 3% as the foreclosure charge.
      Was this review helpful? 5
      , margao
      Reviewed on May 13, 2017
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