Bank of India Personal Loan of Rs. 9 Lakh

Looking for a personal loan to meet your financial needs? Bank of India offers a 9 lakh personal loan with attractive features and benefits. From competitive interest rates starting at 10.75% per annum to flexible repayment tenures ranging from 12 to 84 months. With transparent terms, minimal documentation, and quick approval processes, securing a ₹9 lakh personal loan has never been easier. Explore the various loan schemes, eligibility criteria, and application process to find the best option for you.

Eligibility Criteria for 9 lakh Bank of India Personal Loan

To qualify for a ₹9 lakh personal loan from the Bank of India, applicants need to meet the following criteria:

• Age: Applicants must be between 21 and 70 years old.
• Employment Status: The loan is open to salaried employees, self-employed professionals, and pensioners.
• Income Requirements: Applicants must have a stable monthly income sufficient to cover the EMI payments.
• Credit Score: A good credit history with a credit score that aligns with the bank’s requirements is essential.

Bank of India 9 Lakh Personal Loan Documents Required

To apply for a ₹9 lakh personal loan from the Bank of India, you will need to submit the following documents:

Proof of Identity

• Aadhar card
• PAN card
• Passport
• Voter ID

Proof of Address

• Utility bills
• Rental agreement
• Passport

Proof of Income

• Salary slips
• Bank statements
• Income tax returns

Additional Requirements

• Recent photographs
• Completed application form

Bank of India 9 Lakh Personal Loan Interest Rates and Fees

Bank of India personal loan of 9 lakhs interest rate details are below.

Bank of India personal loan of 9 lakhs comes with a processing fee and other charges; see the table below.

Repayment Options for Bank of India 9 Lakh Loan

Here are some convenient repayment options offered by the Bank of India for a 9 lakh loan:

EMI Payments: 

Bank of India provides EMI payment options. EMIs can be calculated using an EMI calculator, considering the loan amount, interest rate, and tenure.

Prepayment/Foreclosure: 

Borrowers can prepay their loans partially or fully without incurring any prepayment charges.

Auto-Debit Facility:

An auto-debit facility is available where EMIs are automatically deducted from the borrower’s Bank of India account, ensuring timely payments without manual intervention.

Standing Instruction:

Borrowers can set up standing instructions for EMI payments from any savings or current account. This option ensures automatic monthly deductions.

Online Payment:

Bank of India offers the convenience of making EMI payments online through its Internet banking portal, allowing borrowers to manage their payments from anywhere.

What is the EMI for a Bank of India 9 lakh Personal loan?

Here is the EMI breakdown for a ₹9 lakh personal loan from the Bank of India, based on a minimum interest rate of 10.75% and a repayment period of five years.

Applying for the Bank of India 9 Lakh Loan

Applying for a ₹9 lakh personal loan from the Bank of India through Urban Money is simple. Follow these steps:

1. Visit the Urban Money website or open the Urban Money app.
2. Navigate to the “Loans” section.
3. Select the personal loan option from the menu.
4. Choose Bank of India from the list of available banks and click the “Apply Now” button.
5. Fill in the required details and submit the form.
6. An Urban Money representative will contact you within 24 hours to assist with the next steps.

Alternative Options for a Bank of India 9 Lakh Personal Loan.

Bank of India offers a variety of personal loan schemes to meet various financial needs of customers; below are the options: