| 29th October 2016 01:20 PM | |
| shikha | Re: Bank Of India Loan Against Property Bank of India was Founded in 1906, Bank of India offers Loans Against Property (Mortgage Loan) as well. The eligibility criteria and other conditions related to loans against property offered by Bank of India are listed in the table below: Age Maximum: 60 years (permanent service) 70 years (proprietary firms, non-salaried and self- employed persons) Quantum of loan/advance 4 times of annual net income (IT returns of last 2-3 years) or 48 times of take home salary Salaried and self-employed/professionals 4 times of annual net income (average) based on the income tax returns of last 2 to 3 years Repayment - Loans Overdraft (non-reducible) (reducible) Maximum: 12 years (EMIs) Interest charged on a monthly basis Maximum: 12 years Margin Nil (limit based on registration value) 50% of distress sale value 60% of market value Loan Interest Rates Base rate 9.7% (from October 2015b onwards) Type of facility Floating interest rate is linked to BOI base rate Overdraft (reducible) Base rate+1.5%= 11.45% Overdraft (non-reducible) Base rate+2%= 11.95% Charges : Equitable mortgage fee Rs.5,000 (up to Rs.10 lakh) Rs.10,000 (up to Rs.1 crore) Rs.20,000 (up to 5 crore) Processing charges 1% of amount sanctioned (loan) 0.50% of (sanctioned) limit (non-reducible overdraft) 0.50% of limit for 1st year plus service tax and 0.25% of the limit (reviewed) afterwards For More Details Here Attachment of this page  |
| 29th October 2016 11:55 AM | |
| Unregistered | Bank Of India Loan Against Property Hello Buddy , I want to Know Apply for Loan Against Property in Bank Of India , For it Would you please tell me What is the Required Eligibility , Interest Rates and List of Necessary Documents List ? |
