Bank of India

Bank of India
4.5
State-owned commercial bank Bank of India has its main office in Mumbai. The Bank offers both business and retail clients a broad range of banking products and financial services. The bank offers firms (doing business in foreign exchange) NRIs merchant banking specialist services.

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Loans offered by Bank of India

Bank of India LoansInterest RateProcessing FeeLoan Amount/Tenure

Bank of India Personal Loan

10.25%

Up to 1% (Maximum Rs 7,500)

Up to ₹10L

Tenure(1 - 5 Years)

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Bank of India Home Loan

8.3%

Up to 1% of loan amount + GST

Up to ₹5Cr

Tenure(3 - 30 Years)

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Bank of India Business Loan

10.2% - 12.95%

Starting from ₹500 – 10,000

₹5L - ₹5Cr

Tenure(5 - 7 Years)

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Features and Benefits of Bank of India

The first Indian bank to open a branch outside the country and in Europe, the Bank of India has established itself as one of the premier financial organisations in the country. The blue-coloured five-cornered star of the logo stands for over 100 years of trend-setting and banking knowledge in the Indian Banking Sector. Held privately till 1969, it was nationalised by the Indian Government along with 13 other banks. The bank later went public in 1997. The bank enjoys a significant portion of its business coming from international branches. It is prominent in the loans and mortgages under its brand name Star Mitra Personal Loan, Star Home Loan, and Star Mortgage loan.

Given below are some of the features and benefits of the products and services offered by Bank of India:

  • Bank of India offers attractive loan products to its customers at attractive rates of interest
  • There are no charges for the prepayment of a loan from Bank of India
  • Simplified application forms and quick approvals add to the convenience of the customer
  • The bank provides complimentary Personal Accident cover to customers along with their loan products
  • Bank of India offers personal loan to customers to meet various kind of financial needs such as purchasing consumer durables, marriage expenses, medical expenses, etc
  • Bank of India provides ease in accessing their products with several mobile applications for different banking needs

FAQ

From refinancing to reducing your interest, we have the answers right here.

Who is the founder of Bank of India?

The Bank of India was founded in 1906 by a group of prominent businessmen from Mumbai, Maharashtra. The bank was held under private ownership till 1969 and was nationalised along with 13 other banks.

Is the Bank of India a good bank?

The Bank of India has established itself as one of the premium banking services by providing high-quality services for over 100 years. Owing to its comprehensive branch connectivity, the Bank of India can provide their services to people all over the world.

Is BOI a private bank?

Bank of India is an Indian nationalised bank. It operates under the ownership of the Ministry of Finance.

How many branches does BOI have in India?

Bank of India has established a significant presence in the country owing to its 7,735 branches in the 34 states and Union Territories.

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