Yes, the Bank of India does offers loans against property. The current interest rate is at 8.85% to 10.35%.
Getting a loan against property is one of the sure-shot ways to accumulating funds for any needs that may arise. Be it your child’s higher education, or a business expansion, or an unexpected medical emergency, the Bank of India offers you a loan against your property at competitive rates.
Read more on Loan Against Property
Bank of India Loan Against Property
|
Maximum Loan Amount |
Rs.7.5 crores |
|
Maximum age to avail this loan |
60 years for salaried and 70 years for self-employed and professionals |
|
Repayment tenure |
Up to 15 years |
|
Rate of Interest |
Based on CIBIL Score; 8.85% - 10.35% |
|
Type of Loan |
Demand /Term Loan (Repayable by instalments) Overdraft (Reducible Overdraft: Drawing limit as per repayment schedule) |
Note:
- Bank of India Loan Against Property is available for both Indian citizens and NRIs.
- The loan amount can be used for any of your needs except for financial speculation of any nature.
- This loan can be helpful if you are looking to repair, remodel or redesign your house.
- It can also be used to expand your business.