Bank of India
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 Loans||Interest Rate||Processing Fee||Loan Amount/Tenure|
Up to 2%
Up to ₹10L
Tenure(Up to 5 Years)
8.65% - 10.6%
Up to 0.25%
Up to ₹5Cr
Tenure(1 - 30 Years)
10.2% - 12.95%
Up to 1%
₹5L - ₹5Cr
Tenure(5 - 7 Years)
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
Products and Services Offered by Bank of India
Given below are some of the products and services offered by Bank of India:
BOI Star Home Loan
Bank of India provides home loan products to meet various end needs such as purchasing a house, constructing a house, renovation, repair, plot purchase, takeover of home loan from other lenders, etc. All salaried employees, professionals, and self-employed individuals are eligible to apply for this loan. You can get a loan of up to Rs 5 crore in major metro cities and up to Rs 3 crore in other locations. Interest rates for these loans range from 7.80% p.a. to 8.75% p.a.
BOI Star Personal Loan
The BOI Star Personal loan can be availed to meet a host of financial needs and requirements. These loans can be obtained for marriage expenses, foreign trips, education expenses, consumer durables, medical expenses, etc. Depending on the income and credit profile of the applicant, the maximum loan amount can go up to Rs 20 lakhs. Salaried employees, professionals, and individuals with high net worth are eligible to apply for this loan. You can obtain a personal loan from Bank of India with interest rates starting from 11.75% p.a.
BOI Top Up Loan
All existing home loan customers who have exhibited a healthy repayment pattern over two years of their loan tenure are eligible to get a top-up loan from BOI. All the customer is required to do is make a missed call on 8010968305 or SMS <TOP> to 7669300024. These loans can be availed at the rate of the existing home loan plus an additional premium of 0.50% p.a.
Bank of India Corporate Office Details with Contact numbers and Email ID
In case you have any queries or doubts related to the services provided by the Bank of India. You can get in touch with bank representatives in the below-mentioned ways:
|Address||BANK OF INDIA STAR HOUSE C - 5, "G" Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051|
|Toll-Free||1800 220 229 1800 103 1906|
|24/7 Chargeable Number||(022) – 40919191|
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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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