Bank of India Personal Loan Interest Rates
| Salaried | Self-Employed | |
| Interest Rate | Secured loans: 4.50% above 1 Year MCLR = 13% p.a. Unsecured loans: 6.00% above 1 Year MCLR = 14.5% p.a. | Secured loans: 4.50% above 1 Year MCLR = 13% p.a. Unsecured loans: 6.00% above 1 Year MCLR = 14.5% p.a. |
| Loan Amount | For Unsecured Loans: Maximum Rs.5 lakh , Metro & Urban: Rs.10,000 , Semi-Urban & Rural: No minimum amount For Secured loans: Maximum Rs.10 lakh , Metro & Urban: Rs.10,000., Semi-Urban & Rural: No minimum amount. | For Unsecured Loans: Maximum Rs.5 lakh, Metro & Urban: Rs.10,000 , Semi-Urban & Rural: No minimum amount For Secured loans: Maximum Rs.10 lakh , Metro & Urban: Rs.10,000., Semi-Urban & Rural: No minimum amount. |
| Loan Tenure | For unsecured loans: Maximum of 36 months, with a few exceptional cases where 60 months is permissible. For secured loans: Maximum 60 months. | For unsecured loans: Maximum of 36 months, with a few exceptional cases where 60 months is permissible. For secured loans: Maximum 60 months. |
| Lowest EMI | For Metro and Urban areas: Secured loan: Rs.228 per month, Unsecured loan: Rs.345. For Semi-Urban & Rural: NA. | For Metro and Urban areas: Secured loan: Rs.228 per month. Unsecured loan: Rs.345 For Semi-Urban & Rural: NA. |
| Processing Fee | 2% of the loan amount + GST Minimum: Rs.1,000. Maximum: Rs.10,000. | 2% of the loan amount + GST Minimum: Rs.1,000. Maximum: Rs.10,000. |
| Prepayment/Foreclosure Charges | None | None |
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