Multiple banks. Different interest rates. Call it a "conflict of interest".
Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Bank of India Star Holiday Loan Scheme is Rated as "Excellent!" by 40 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

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    Personal Loan BYTES FROM OUR KITCHEN

    Bank of India Star Holiday Loan Scheme

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    Bank of India was founded on 7th September, 1906 in Mumbai. It now has over 4,963 branches across India and has 60 branches and 5 subsidiaries and 1 joint venture abroad. Bank of India also has its presence in 22 foreign countries and is spread across 5 continents.

    BOI Star Holiday Loan Scheme

    Bank of India offers Star Holiday Loan Scheme to meet airfare, train and bus expenses. The loan can be used to meet the accommodation expenses while on pilgrimage, tour or excursion that you, your spouse, children and your parents or close relatives take in India or abroad.

    Features of Bank of India Star Holiday Loan Scheme

    Type of loan

    Demand loan that is reducible as per repayment schedule.

    Quantum of loan amount

    Clean loan: Maximum limit is Rs.2 lakhs.

    In the event you have a liquid collateral security that is at least 50% of the loan amount sanctioned, then the maximum loan amount limit is Rs.5 lakhs.

    If the collateral security is equal to 100% of the loan amount sanctioned, then the maximum loan amount limit is Rs.10 lakh.

    Pensioner get a maximum loan of Rs.1 lakh.

    Minimum limit of loan:-

    For metro and urban centres: Rs.10,000

    For rural and semi urban centres: No limit

    Margin No margin but the loan amount should not exceed the proposed requirement.
    Repayment term

    Maximum: 24 EMIs with effect from one month after the 1st disbursement of the loan amount.

    In exceptional cases, you will get up to 36 EMIs.

    Processing charges

    2% of the loan amount is charged as the processing fee subject to a minimum of Rs.1,000 and maximum of Rs.10,000 plus the service tax.

    The minimum loan amount for the pensioners is Rs.500 and the maximum limit is Rs.2,000.

    Processing fee will not be charged for senior citizens.

    Bank of India Star Holiday Loan Scheme Interest rates

    The BOI Star Holiday Loan scheme interest rate for fully secured advances where the collateral is at least 100% of the loan amount is base rate + 3% that is 12.95% per annum.

    Interest rate for partly secured advances where the collateral is at least 50% of the loan amount is base rate + 3.50% that is 13.45% per annum.

    Interest rate for clean or unsecured loan is base rate + 4.25% i.e. 14.20% per annum.

    Base rate for pensioners or senior citizens for loan amount up to Rs.50,000 is base rate + 3% i.e. 12.95% per annum.

    Eligibility Criteria for taking Bank of India Star Holiday Loan Scheme

    Bank of India Star Holiday Loan scheme is offered to salaried employees, professionals, self-employed, pensioners, staff members, agriculturists, businessmen and to individuals having a high net worth.

    How to calculate EMI on BOI Star Holiday Loan Scheme

    You must know how much EMI you will be paying each month and how long it is going to take for you to clear out the loan, before taking a loan. BankBazaar offers you EMI Calculators, where you will have to fill in details of the loan amount, tenure and the interest rate.

    Based on your capacity to pay off the loan EMI, you can choose the tenure that you see fit. BankBazaar will give you a breakup of the loan, amortization, repayment details, interest and principal components etc.

    Bank of India Star Holiday Loan Scheme FAQs

    Who can take BOI Star Holiday Loan scheme?

    Salaried employees, professionals, self-employed, pensioners, staff members, agriculturists, businessmen and to individuals having a high net worth can avail this loan.

    What is the maximum loan limit?

    The maximum loan amount offered is Rs.10 lakh.

    What is the BOI Star Holiday Loan scheme interest rate?

    The BOI Star Holiday Loan interest rate ranges from 12.95% to 14.20%.

    What is the repayment period offered?

    The repayment term for the loan is 24 months and 36 months in exceptional cases.

    Is there a processing fee charged?

    Yes, 2% of the loan amount is charged as the processing fee, however, the processing fee is not charged for senior citizens.

    Bank of India Star Holiday Loan Scheme Reviews

    • 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? 1
      , 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? 0
      , 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? 0
      , 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? 0
      , 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? 0
      , 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? 1
      , 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? 1
      , 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? 1
      , 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? 1
      , 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
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