Star Personal Loan Scheme provides loan to meet various Personal requirements of customers and their family.
Bank offers loans for marriage expenses, medical expenses, educational expenses, purchase of consumer durables etc. Maximum quantum of advance is Rs.10.00 lakhs, depending upon the income, with very attractive interest rate and easy repayment plan.
Please approach our nearest Branch and avail the loan to fulfil your personal needs.
Product
BOI Star Personal Loan Scheme
Eligibility
Salaried employees, Professionals and individuals with high net worth, regular pensioners or family pensioners drawing regular monthly pension through Branch, Staff members, retired employees (other than dismissed/compulsorily retired) of our Bank.
Types of advance
Demand/Term Loan/Overdraft (reducible as per repayment schedule) Overdraft limit (not reducible as per repayment schedule) maximum up to Rs.1 lac to confirmed permanent employees of Central/State Govt. /Reputed Corporates and PSU's.
Clean/Unsecured loans
Marriage expenses of self, son, daughter or a dependent near relative.
Medical Expenses incurred/to be incurred for self, spouse, children, dependent near relative.
For education of self/spouse/ children/ near dependent relatives.
For repairs/ renovation/ extension of existing house/flat.
Any other personal expenses of bonafide nature as approved by the Bank
Secured loans
Repayment of existing housing loans from other banks/Financial Institutions, etc.
Repairs/ Renovation/ Extension of House property. Education of self, spouse, children, near dependent relatives.
Purchase of consumer durables, computers, professional equipment’s etc.
Max. Loan
Rs.5.00 lacs
Rs.10.00 lacs
Min. Size of loan
Minimum size of loan: - At Metro and Urban Centres: Rs.10, 000/-
At Rural and Semi Urban centres: No minimum size of loan.
Minimum size of loan: - At Metro and Urban Centres: Rs.10, 000/-
At Rural and Semi Urban centres: No minimum size of loan.
Quantum of Advance
10 times of monthly net Emoluments(take home pay) in case of salaried Employees
50 % of Gross Annual Income as per last Income Tax Returns for professionals/individuals of high net worth
20 times of monthly Gross Emoluments in case of salaried Employees
100 % of Gross Average Annual Income as per last three years Income Tax Returns for professionals/individuals of high net worth
Note :While fixing the limit. It should be ensured that the net take home pay / Income (net of EMI of the proposed advance) is not less than 40 % of gross income of the applicants.
