BANK OF INDIA- OVERDRAFT

Clean Loan / OD for financing Health Insurance Premium .
Eligibility	Existing Customers of the Bank
Purpose	For purchase of Insurance Policy-Health from our Insurance Partner. [CCIS Scheme Code 421]
Type of Advance	Demand Loan / Reducible Overdraft
Repayment	Maximum 10 months, commencing from the month following the month of disbursement;
Quantum of Loan	80% of the premium(Margin 20%)
Rate of Interest	1.25% below BPLR, presently 11.50% p.a.
Minimum / Maximum ( Max: as per Personal Loan scheme)	Minimum Rs.5000, (Requirements generally should not exceed Rs. 50,000)
No. of unsecured loans	May avail up to two unsecured loans under star personal loan i.e one for normal purpose and one for payment of insurance premia subject to eligibility for combined limit under Star Personal Loan Scheme.
Loan Renewal	Loan : fresh loan with fresh documentation can be considered on satisfactory closure of earlier loan account. Overdraft : Also, Offered as reducible OD facility (for 10 months)for ease of documentation..
Charges	Stamp Charges for documents : At actuals . Loan Agreement Copy Charges – as applicable