Property Loan 

Bank of India Loan against Property Interest Rates 2024

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Bank of India Loan Against Property: Get instant Quotes for Bank of India Loan Against Property Interest Rates 2023, Documents, EMI, Eligibility at Deal4loans.

Bank of India Loan against property details

Interest Rates 11.10%
Loan Amount 3 Lakh – 10 Crore
Repayment Period Upto 12 Years
Processing Fees upto Rs. 20000/- plus GST.
Pre Payment Charges Nil
Minimum Income 12000 Per Month

Bank of India Loan Against Property Eligibility

  • Resident Indian/NRI/PIO are eligible
  • Individuals: Salaried/Self-employed/Professionals
  • Regular and confirmed Employees / individuals with high net worth Professionals, self-employed and people engaged in trade, commerce and business, engaged in business / profession for a minimum period of 3 years.
  • Individuals in permanent service – Max. 60 years or Retirement age whichever is earlier.
  • For self-employed / non-salaried people, sanctioning authority may relax the age limit by 10 years i.e. upto 70 years.

    • ADVANCES TO INDIVIDUALS : MAXIMUM AGE LIMIT :
    Individuals in permanent service max. 60 years.
    For Proprietary concerns/Self Employed/non-salaried people – Maximum -70 Years
    (Age limit is the maximum age at the end of the repayment Period)

    Bank of India Loan against property Interest Rates

    • Loan/ Overdraft Reducible (Monthly Reducible Limit) – 8.85%
    • Overdraft –Non -Reducible – 9.35% PA.

    Bank of India Loan against Property EMI Calculator

    EMI calculator helps you in calculate emi per month details of your property loan.

    Calculate Loans EMI Online
    Loan Amount
    Interest Rate (Reducing) % Per Annum
    Loan Tenure (in Months)
     
    Monthly EMI
    Total Amount with Interest
    Total Interest Amount
    Yearly Interest Amount

    MAX. REPAYMENT PERIOD: 12 YEARS
     
    MARGIN
    i. Nil Margin for loan limit provided on the basis of Circle Rate/Registration value of the property (100% Loan amount);
    ii. 60 % of Market value ( 40 % Loan amount);
    iii. 50% of Distress Sale Value (50% Loan amount), whichever is lowest of i, ii & iii.
     
    REQUIREMENT OF NET TAKE HOME PAY /DSCR- FOR LOANS :
     
    ✓ For individuals : Net take home pay (net of EMI of proposed advance) not to be less than 40% of gross income of the applicant.
    ✓ For Prop. Firm/Partnership Firm/Company(Loan /Reducible OD) : DSCR: Min.1.5;
    ✓ For Overdraft facility(Non-reducible ) : ISCR Min.1.5

    Processing Fees & charges: 1% of the loan amount, Maximum Rs.50000

    Pre Payment Charges: NIL

    Available Products of Bank of India:

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