Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 1 Bank of India(BOI) Mortgage Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    12.90% - 13.90% Floating
    1,000 to ₹10,000 + S.T. One time fee
    10K - 5L
    1-3 Years
    Response Time Within 30 minutes
    Documents
    Perks
    Think about
    Eligibility Criteria

    Bank of India(BOI) Mortgage Loan is Rated as "Excellent!" by 34 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    Bank of India (BOI)

    Founded in 1906, the Bank of India (BOI) currently has around 4963 branches, 54 zonal offices, 5 subsidiaries across the country and one overseas joint venture. The Bank of India aims to provide proactive, state-of-art and innovative banking solutions to customers. BOI offers a wide range of products and services catered to various sectors from corporate and SME to rural and retail among others. Bank of India offers loans against property (Mortgage Loan) as well.

    Purpose of Bank of India Mortgage Loan/Loan against Property

    The loan against property can be taken for the following reasons

    • Commercial activities
    • Expenses related to education of any family member
    • Repairs or renovation of commercial or residential properties
    • Construction of flat or buying a plot for commercial activity
    • Payment of current loans

    Bank of India (BOI) Mortgage Loan

    The eligibility criteria and other conditions related to loans against property offered by Bank of India are listed in the table below:

    Eligible borrowers

    Ineligible borrowers

    • High-net worth individuals

    • Professionals

    • Self-employed

    • Salaried employees

    • Firms (proprietary and partnership)

    • Public and private LTD companies

    • HUFs

    • NRIs (subject to conditions)

    • NBFCs

    • Trusts

    • Partnership firms with HUF as a partner

    Types of loans/advances

    • Term Loan

    • Demand

    • Overdraft

    Age

    Maximum: 60 years (permanent service)

    70 years (proprietary firms, non-salaried and self- employed persons)

    Security

    • Property must be in applicant or his or her spouse/relative’s name. In case of firms, property should be in the name of proprietor/partners/director

    • Any property which is owned by HUF or Society should not be pledged for loan by Karta/office-bearers

    • BOI does not accept agricultural land as security

    Quantum of loan/advance

    Salaried and self-employed/professionals

    Doctors

    Partnership/proprietorship firm or company

    4 times of annual net income (IT returns of last 2-3 years) or 48 times of take home salary

    4 times of annual net income (average) based on the income tax returns of last 2 to 3 years

    • Overdraft (reducible): 4 times of annual net income (average) of last couple of years

    • Overdraft (reducible):20% of turnover on the basis of balance sheet (last 2 to 3 years) which is duly audited

    Repayment - Loans

    Overdraft (non-reducible)

    Overdraft (reducible)

    Maximum: 12 years (EMIs)

    Interest charged on a monthly basis

    Maximum: 12 years

    Margin

    • Nil (limit based on registration value)

    • 50% of distress sale value

    • 60% of market value

    Mortgage Loan Interest Rates charged by Bank of India

    The following table shows the interest rates charged by Bank of India for loans against property

    Base rate

    9.7% (from October 2015b onwards)

    Type of facility

    Floating interest rate is linked to BOI base rate

    Overdraft (reducible)

    Base rate+1.5%= 11.45%

    Overdraft (non-reducible)

    Base rate+2%= 11.95%

    Charges related to BOI Mortgage Loans

    Various charges related to loans against property offered by BOI are listed in the table below

    Equitable mortgage fee

    • Rs.5,000 (up to Rs.10 lakh)

    • Rs.10,000 (up to Rs.1 crore)

    • Rs.20,000 (up to 5 crore)

    Processing charges

    • 1% of amount sanctioned (loan)

    • 0.50% of (sanctioned) limit (non-reducible overdraft)

    • 0.50% of limit for 1st year plus service tax and 0.25% of the limit (reviewed) afterwards

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  • Bank of India(BOI) Mortgage Loan Reviews

    • 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? 0
      , 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? 0
      , 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? 0
      , margao
      Reviewed on May 13, 2017
    • Bank of India Personal Loan
      "Very Good"
      0.5 4.5/5 "Excellent!"
      This is a very good opportunity to peoples, I Really like this loan system thats it. this loan system use of all particular persons. it will be more helpfull of peoples, I Really like this loan system, this will be used of all all types of employees and business providers thats it.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 06, 2016
    • Bank of India Personal Loan
      "Not a good one"
      0.5 3.0/5 "Satisfactory"
      I had tried to contact Bank Of India for the personal loan, it was at that point of time they were in need of more documents. The processing part is very lengthy and the features are also not that great. I did not submit my documents to BOI and the response time provided was also very good.
      Was this review helpful? 0
      , gulbarga
      Reviewed on Nov 14, 2016
    • Bank of India Personal Loan
      "Its fair"
      0.5 4.0/5 "Great!"
      I have an idea how BOI works, as I had taken a personal loan through them. The process was quite easy without any difficulties. Interest rate were fine with them and I got the amount that I applied with the bank. Insurance was also covered on this loan.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jun 30, 2016
    • Bank of India Personal Loan
      "Excellent"
      0.5 4.0/5 "Great!"
      Compared to the private banks the service offered very strict by Nationalized bank for the personal loan process, on the other hand they were able to provide very good payment options. Pre closure charges were nil after one year in Bank of India. Part payment options is available. Maximum time duration they use to take is in one week. Interest rate charged was 14% when i took the loan during the year 2013.
      Was this review helpful? 1
      , madurai
      Reviewed on Jun 04, 2016
    • Bank of India Personal Loan
      "User Friendly Nationalized Bank "
      0.5 5.0/5 "Blown Away!"
      Within the short span of time , Bank of India disbursed the personal loan the process was very good. Being a nationalized bank the interest rate charged was very less compared to the market .As I hold an account with the same bank so the loan details can be checked through the online portal and the hard copy of the loan documents were sent on time.
      Was this review helpful? 0
      , chennai
      Reviewed on May 27, 2016
    • Bank of India Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      After applying for the personal loan with Bank of India i got the amount within 2-3 days. Interest rate charged was 9.5% and the processing fee was nominal. Documentation was easy and the executive came to the place to collect. Part payment and pre closure is available.
      Was this review helpful? 1
      , ghaziabad
      Reviewed on Mar 28, 2016
    • Bank of India Personal Loan
      "Easy process but high rate "
      0.5 4.0/5 "Great!"
      The service provided was good with Bank of India related to the personal loan.since I hold the salary account they have completed the process within 3-4days of time.The rate applied was too high with Bank of India.They have applied average charges
      Was this review helpful? 0
      , jabalpur
      Reviewed on Mar 23, 2016
    • Bank of India Personal Loan
      "Very good services"
      0.5 5.0/5 "Blown Away!"
      Bank of India has been good in their services. I have taken a personal loan from them. The process for the loan is very good. The rate of interest was of 12.5%. As this rate is offered for the Women. The processing charges was normal too. Overall a good experience.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Mar 11, 2016
    • Bank of India Personal Loan
      "Interest rate and processing fee is minimal "
      0.5 4.0/5 "Great!"
      The service provided was quite good with bank of India based on the personal loan application.The interest rate applied was good with Bank of India.The customer service process gets delayed each time. The interest rate applied was around 14.5% .They have applied minimal charges on processing
      Was this review helpful? 0
      , mangalore
      Reviewed on Feb 22, 2016
    • Bank of India Personal Loan
      "Flexible process!"
      0.5 3.0/5 "Satisfactory"
      Personal loan process was very much flexible with Bank of India. As I do have a good relationship with the executives, they are sanctioning the personal loan to me within 2 days on collecting relevant documents. In the year 2014, I have taken the loan amount from them.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Feb 02, 2016
    • Bank of India Personal Loan
      "simple process...."
      0.5 3.0/5 "Satisfactory"
      It was a personal loan and the bank has processed on basis my account. Ten years ago the rate of interest was 9.5%. I took the loan against my fixed deposit so the process was simple. Bank of India was charging high and there was some hidden charges.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jan 30, 2016
    • Bank of India Personal Loan
      "Best in service "
      0.5 5.0/5 "Blown Away!"
      The service provided by Bank of India was very good based on the personal loan application beng submitted.The process was good with best response provided.The documentation process was good with a best rate offered in the loan.They have not applied any charges in the loan.
      Was this review helpful? 2
      , dehradun
      Reviewed on Jan 05, 2016
    • Bank of India Personal Loan
      "Good response!"
      0.5 5.0/5 "Blown Away!"
      When I was in need of personal loan, I just reached my home branch for loan application. And the manager responded me in a prompt way. They provided me the loan with a better interest rate. More over the loan amount was approved and disbursed within a weekâ??s time from Bank of India.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jan 02, 2016
    • Bank of India Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Bank of India takes only one day to disburse the personal loan with very less interest rate of 11% and the processing fee was just Rs.200. Documentation process was very simple. Part payment can be done without any extra charges.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Dec 18, 2015
    • Bank of India Personal Loan
      "Need improvement..."
      0.5 1.5/5 "Bad"
      They have their own policy. Very difficult to get a loan from Bank of India. When I was approach them for a personal loan I did not received any response. Even from higher officer end as well. They were very rude and it would be better if they provide proper service.
      Was this review helpful? 5
      , chennai
      Reviewed on Nov 21, 2015
    • Bank of India Personal Loan
      "Helpful in loan"
      0.5 5.0/5 "Blown Away!"
      I am happy with the service provided by Bank of India based on the personal loan.They are helpful for getting the loan.The response provided by them was quite good.The interest rate applied for the loan was quite good and the charges deducted was also nominal.I will recommend about Bank of India to others.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 29, 2015
    • Bank of India Personal Loan
      "Best"
      0.5 5.0/5 "Blown Away!"
      Bank of India personal loan rate of interest is around 13% and the loan got disbursed within 2 days of time. I have taken around 50000 Rupees as the capital. EMI is easy with them with the tenure of 5 years of time. Documentation is also good with them and easy too.
      Was this review helpful? 6
      , new delhi
      Reviewed on Sep 26, 2015
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