Bank of India Mortgage loan Interest rate
Now take that money within your means and use your precious resource to help in time of need. Bank of India offers you land loans for business, business, and educational expenses, and for repairing, renovating, or extending residential and commercial properties.
The loan amount provided by the bank can also be used for the purchase/construction of land for the construction of residential/housing units, houses/commercial units/commercial units. These loans are available at reasonable prices for a wide range of deposits. A description of the concerns is given below.
Bank of India Mortgage Loan
| Particulars | Details |
| Interest Rate | 8.85% – 9.35% |
| Loan Amount | As per an individual’s repayment capacity |
| Tenure | 12 years |
| Processing Fee | 1% of the loan amount, subject to a minimum ₹5000 and a maximum ₹50000 + S.T. |
Purpose Of The BOI Mortgage Loans BOI Star Loan Against Property Scheme can be used for various personal and business needs as well as for speculative purposes like investing in stocks or mutual funds. Here are reasons why BOI loans can be costly.
Bank of India loan review
You can apply offline using BOI as well as online from the comfort of your home If you want to apply online, you have to visit the nearest branch and for the online application, you can go to the official website of the Bank of India and fill the application form along with the details. Remember to review loan information, plans, interest rates, LTV financing, processing fees, closing costs, and other loan fees before applying.
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With a user-friendly website like Loan fast track, you can apply for an Indian bank loan for this site. Since it is also important to compare mortgage rates with NBFC rates from leading banks before applying for asset-based loans, the Loan FastTrack web portal will help you compare loan rates from top banks with a capability calculator. How to calculate mortgage and rent EMI that it should be done. Loan Fast Track makes the Indian bank mortgage application process simple, fast, and transparent.
Bank of India Loan Application
Bank of India LAP interest rate depends on your CIBIL account. The higher the CIBIL rating, the better the BOI lap benefit. The BOI loan interest rate on properties is the same for all eligible borrowers whether salaried, foreign expatriates, self-employed, or employees, regardless of the size of the loan. This rate is similar to the RBI repo rate. The maximum interest rate on loans at Indian Bank ranges from 2% to 3.50%.
| From Sybil Point | BOI mortgage interest rates for individuals | |
| There are times debts | reduces overdrafts | |
| 760 and above. | 8.85% for the year. | 9.10% for the year |
| 675 – 759 | 9.35% for the year. | 9.60% for the year |
| 675 is | 9.85% for the year | 10.35% for the year |
| -ten | 9.60% for the year | 9.85% for the year |
| and another impersonality | ||
| 8.85% for the year. | 8.85% for the year. |
Bank of India Mortgage Loan Eligibility
Getting an Off India Against Property Loan depends on the value of your collateral such as the market value of your property, minimum margin requirement, net house payment, loan quality, CIBIL score, repayment capacity, and so on. Below is the list of LAP loan availability with BOI.
| Eligible Profile;- | Salaried * Self-Employed * Self-Employed Professionals * NRI Firms & Companies -> Proprietorship Firm -> Partnership Firm -> Private Limited Company * Others – societies, staff members, or HUFs |
| Maximum Age:- | * For salaried 21 years – 60 Years or retirement age whichever is earlier. * For Self-employed & Professionals 21 years – 70 years. |
| Property To Mortgage:- | * Residential * Commercial |
| Bank Of India Mortgage Loan Interest Rate:- | 8.85% p.a. – 10.35% p.a. |
| Maximum Tenure:- | * Term Loan – Up-to 15 years. * Overdraft Loan – Up-to 12 years. |
| Maximum Loan Amount:- | * Term Loan – Rs.7.50 Crores. * Overdraft Loan – Rs.5 Crores. |
| Minimum Business Vintage:- | 3 years. |
| Type Of Loan:- | * EMI-based term loan. * Reducible Overdraft loan against property |
| LTV:- | 50% of the property value. |
| FOIR:- | 65% |
| CIBIL Scores:- | 675 & above. |
| Processing Fees:- | 1% of the loan amount plus applicable GST subject to a minimum of Rs.5000 & a maximum of Rs.50,000/- |
| Prepayment/ Foreclosure Charges:- | Allowed with NIL charges for floating rate loans to individuals. |
| Mortgage Schemes:- | * Mortgage loan * Mortgage overdraft loan * NRI Mortgage Loan * Mortgage loan balance transfer * Mortgage loan top-up * Loan Against Land |
BOI has mortgage interests
- To meet the educational needs of children or to meet the educational expenses of family members including close relatives.
- To repair, renovate and extend their residential and commercial properties.
- To purchase or construct a dwelling/house.
- Purchase of land for construction/building site/commercial property*.
- To pay off your outstanding debt.
- To repay other unsecured debts such as personal or business loans.
- To meet your current credit card needs.
- To cover marketing expenses and general expenses such as business loans, business operations, and business development, marketing expenses, and general expenses.
- To meet the needs of that budget.
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