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Thursday, 17-May-2012
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icon Star Mitra Personal Loan

(A SPECIAL LOAN SCHEME FOR THE PHYSICALLY CHALLENGED)

Objective To help Physically Challenged persons to function independently.
Purpose To purchase durable and sophisticated aids / appliances that promote their physical and social rehabilitation
Eligibility All Physically Challenged Individuals – both salaried and self-employed,All Physically Challenged Minors through their Parents/Legal Guardians.(No advances to middle-men and NGOs).
Type of Advance Demand / Term Loan - Secured
Amount Max.Rs. 1 lac (No minimum stipulation)
Eligible Amount 10 times of net salary for salaried persons and 50% of net annual income as per latest Income Tax Return for Self-employed/Professionals.
Net take home income should not be less than 40% after availing this loan.
(In case of Minors, the income of the Parents/Legal Guardians would be the deciding criteria for eligibility).
Margin 10%
Repayment 12 to 60 months, commencing one month after full disbursement/ three months after first disbursement, whichever is earlier.
Rate of Interest Fixed Rate compounded monthly on daily reducing balance –1% above Base Rate, 11.75% p.a.
Security Hypothecation of the Equipment purchased out of Bank Finance
Insurance Waived. However, Borrower isadvised to obtain insurance at his own cost. 
Processing Charges Waived
Other Terms and Conditions
i. Doctor’s Certificate to be obtained regarding the extent of handicap and the need for the equipment.
  Quotation/Invoice in respect of the equipment to be purchased.
iii. Stamped receipt to be submitted after purchase of the equipment.
ALL OTHER TERMS & CONDITIONS INCLUDING DOCUMENTATION OF STAR PERSONAL LOAN SCHEME WILL APPLY

 

 
 
 
Announcement

Watch recorded webcast for Press Meet 30.04.2012

Watch recorded webcast for Analyst’s Meet 30.04.2012

Analyst Presentation for 31.03.2012

Financial Result for year ended 31.03.2012

Any complaint regarding NEFT transactions during 20.02.2012 to 6.03.2012 may be escalated to email ID Special.NEFT@bankofindia.co.in or on telephone No. 022-22886680 for immediate resolution.

Chairman & Managing Director's Message & Address

Bank has decided to decrease the Bank’s Base Rate from 10.75% p.a. to 10.50%p.a. and BPLR from 15.00% p.a. to 14.75% p.a. with effect from 01.05.2012


Interest Subsidy for Education Loans

The Managing Committee of the Indian Banks’ Association has appointed Shri Alok K Misra , Chairman and Managing Director, BANK OF INDIA as Deputy Chairman of the Association

Pension Calculator is available on Knowledge Portal front page

Press release launching of Mobile Based Remittance, Urban Financial Inclusion and two factor Authentication

Notice for Debit and ATM cardholders

Forex Card Rate
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