Bank of India Personal Loan Interest Rate 2025

​Bank of India (BOI) offers a range of personal loan products tailored to meet the diverse financial needs of its customers. Starting at just 11.6% per annum, BOI personal loan interest rates vary based on loan type, applicant profile, and collateral offered. The bank serves both salaried people and seniors by offering flexible repayment terms of up to 84 months and loan amounts up to Rs. 25 lakh. Keep reading to know more about BOI personal loan interest rates. 

BOI Personal Loan Interest Rate Highlights

Here is a table that shows the details about the Bank of India personal loan interest rate​ and other key details of the personal loan:

Types Of Bank Of India Bank Personal Loans

Here is a list of a few types of personal loans in the Bank of India.

• Star Personal Loan: Salaried individuals, self-employed professionals, and business owners are eligible to apply for this loan, with EMIs starting at ₹1,105 per lakh and interest rates from 15.20% p.a. Additionally, women beneficiaries enjoy an extra interest concession of 0.50% per annum.
• Star Suvidha Express Personal Loan: This scheme provides 24 times the amount of your gross monthly salary. Clean loan facilities allow people to take loans without pledging a security.
• Star Personal Loan Doctor Plus: In this scheme, BOI provides loans to medical practitioners with at least 3 years of experience in medical sciences, along with providing loans to individuals up to the age of 75 at the time of loan maturity.
• Star Pensioner Loan: This scheme provides loans to individuals up to 20 times for secured and 15 times for clean loans the worth of their monthly pension, the repayment tenure for which is up to 5 years. 
• Star Rooftop Solar Panel Finance Loan: BOI offers this scheme with no processing fee and interest rates starting from just 10.70% p.a. However, eligibility is limited to homeowners, as the loan is not applicable for rental properties.
• Star Mitra Personal Loan: BOI offers personal loans up to Rs. 2 lakh for differently-abled individuals at lower interest rates and zero processing fees, with a doctor’s certificate required for verification. 

Features Of Bank of India Personal Loans

Here is a list of characteristics of bank of India personal loans:

• Individuals can secure a personal loan from BOI for various purposes such as entertainment, existing loan repayment, education purposes and more. 
• You can opt for a personal loan amounting to Rs. 25 lakhs.
• BOI offers a maximum of 84-month term for a personal loan.
• Bank of India does not require you you produce any collateral for securing a personal loan. 
• There are specialised personal loan schemes for the handicapped, the elderly, and people aiming to install solar panels.

Bank Of India Bank Personal Loan Interest Rate 2025

Bank of India Personal Loan 2025 comes with easy payment options with a minimum interest rate of 11.60% p.a., up to Rs. 25 lakh or 36 times gross monthly income, and EMI of as low as Rs. 1,105 per lakh for repayment tenure of maximum 84 months. 

Advantages are zero processing charges for differently-abled borrowers, 0.50% interest rebate to women, fast processing, collateral-free loan, and no prepayment charges, making it best suited for salaried, doctors, government, and PSU employees.

Bank of India Personal Loan Schemes Interest Rate

There are various personal loan schemes in BOI that have different interest rates and criteria:

Factors Affecting Bank Of India Bank Personal Loan

Following are the factors that influence the interest rate for BOI personal loans:

• Loan Repayment Power: BOI checks an individual’s loan repayment capacity by evaluating various documents such as their previous loan history, present monthly income, incomes in the past few years, etc.
• Interpersonal Relationship with BOI Bank: Having a good a interpersonal relationship with BOI provides additional benefits while securing a personal loan. 
• Loan Tenure: Bank of India personal loan interest rates are generally higher for short-term loans, while opting for longer tenures with more EMIs may offer interest rate concessions.
• Income: Monthly income for a salaried employee and average monthly profit for a self-employed person are significant factors that decide a person's interest rate. 
• CIBIL Score: Having a CIBIL score of 750 or more determines good credibility, thus helping you get loans at affordable interest rates.
• Employment Type: Both government and recognised private sector employees typically benefit from lower interest rates, while Defence and Military personnel also enjoy a waiver on processing fees.

Fees And Charges For Bank of India Personal Loans

Here is a list of fees and charges required for a personal loan in BOI:

• BOI charges a processing fee of 1% of the loan amount subject to a minimum of Rs. 2500 and a maximum of Rs. 15000.
• There is no foreclosure fee in BOI personal loans.
• Personal Loan interest rate increases if a person takes a top-up loan on a pre-existing loan.
• No processing charges apply for differently-abled individuals, pensioners, women beneficiaries, Defence and Military personnel, and select government-recognised entities.
• Women beneficiaries enjoy a 0.50% concession BOI’S  personal loan interest rate.
• “Star Personal Loan Doctor Plus” has a reducible overdraft facility for doctors.

Eligibility Criteria For Bank Of India Personal Loans

Individuals need to fulfil the following list of eligibility criteria to secure a personal loan from the Bank of India: 

Star Personal Loan

• Permanent Salaries employees and Self-employed people qualify for this personal loan. 
• People up to the age of 70 can get this loan at the time of maturity.

Star Suvidha Express Loan

• Working professionals should possess a salary account in Bank of India.
• The bank also allows individuals with existing home loans in BOI to secure an additional personal loan. 
• The maximum age at the time of loan maturity can be 75.

Star Pensioner Loan

• The applicant must be drawing their pension from the Bank of India.
• The maximum age at the time of loan maturity can be 75.

Star Mitra Personal Loan

• The applicant must be a salaried or self-employed professional.
• The maximum age at the time of loan maturity can be 70.
• Eligibility for an individual's personal loan amount depends on their credibility and repayment capacity.

Star Personal Loan Doctor Plus

• The applicant must be a qualified and registered medical practitioner with at least 3 years of experience in a branch of medical sciences.
• The maximum age at the time of personal loan maturity can be 75.

Star Rooftop Solar Panel Finance Loan

• The loan applicant must be the owner of that house.
• The maximum age at the time of loan maturity can be 70.
• The installation of the solar panel must be approved by their residential welfare association.

Documents Required To Apply For Bank of India Personal Loan

You need to provide the following list of documents while applying for a personal loan from the Bank of India:

• Identity Proof: Voter ID Card, Passport, Aadhaar card and PAN card
• Address Proof: Passport, Aadhaar card, Voter ID Card, and utility bills that include electricity or telephone bills
• Duly filled application form with attached passport-size photograph.
• Last 6 months’ pay slip and previous year’s ITR or Form 16.
• CA certified profit and loss accounts, balance sheets, and ITRs for self-employed individuals for the last three years.
• To avail of the Star Mitra Personal Loan, the individual must submit a doctor’s certificate stating the level of handicap and the need for equipment.
• Photocopy of registration with Indian Medical Council for people applying for Star Personal Loan Doctor Plus.

Bank Of India Bank Personal Loan EMI Calculator

The Bank of India Personal Loan EMI Calculator is a simple tool that helps borrowers estimate monthly payments by entering the loan amount, interest rate, and tenure. It offers clarity on principal and interest components, aids in choosing a suitable loan term up to 84 months, and ensures better financial planning. With EMIs starting at ₹1,105 per lakh and no hidden fees, it simplifies decision-making for a hassle-free borrowing experience.

Bank Of India Bank Personal Loan Customer Care

If you require assistance with your loan processing and any other enquiry, you can visit the nearest BOI branch or visit its official website. You can also call these Toll-free numbers for online assistance.

• Toll-free numbers: 1800 220 229 / 1800 220 229
• Non Toll-free number (24/7): (022) - 40919191

BOI has its head office in Bandra, Mumbai, Kurla Complex. You can contact the head office via phone or mail, the details of which are given below: 

• Phone Number: 022-66684444
• E-mail ID: cgro.boi@bankofindia.co.in

Bank of India offers various schemes to its applicants based on their requirements. It has special schemes for pensioners, doctors, and handicapped people, where it provides additional benefits to women, pensioners, and handicapped people along with Government employees. The BOI personal loan interest rates depend on your job type, CIBIL score, all helping you streamline your financial journey.

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