BANK OF INDIA- STAR HOLIDAY LOAN SCHEME

Product STAR HOLIDAY LOAN SCHEME

Eligibility: Salaried employees/ Professionals/Self-employed /People engaged in business/Individuals with high net worth/Agriculturists/Pensioners/Staff members

Type of Advance Demand Loan (reducible as per repayment schedule)

Quantum of advance Max. Rs.2.00 lacs (clean)

Max. Rs.5.00 lacs (in case liquid collateral security is offered like TDRs, NSCs,IVPs, KVPs, LIC Policy (Surrender Value) etc. at least equal to 50% of loan amount sanctioned)

Rs. 10.00 lacs (In case liquid collateral security is offered like TDRs, NSCs,IVPs, KVPs, LIC Policy (Surrender Value) etc. at least equal to 100% of loan amount sanctioned)

Pensioners : Max. Rs.1.00 lac

Minimum size of loan :-

At Metro and Urban Centers : Rs.10,000/-

At Rural and Semi Urban centres: No minimum size of loan.

Purpose: To meet the expenses (like airfare/Train/Bus charges, expenses for accommodation, sight seeing, etc.) for going for pilgrimage/tours/excursions etc. undertaken/to be undertaken by Self/spouse/children/ parents/family members/close relatives of proponent within India or abroad.

Margin: No specific margin. Loan amount not to exceed proposed expenditure/requirement.

Repayment Maximum in 24 EMIs (Equated monthly installments) w.e.f one month after first disbursement from loan account. In special/exceptional case, up to 36 EMIs.

Rate of Interest: 1. Fully Secured Advances: (Where liquid collateral security is offered like TDRs,NSCs,IVPs, KVPs, LIC Policy (surrender value) etc. at least equal to 100% of loan amount sanctioned 0.75% over BPLR, at present 12.00% p.a. at monthly rests.

2. Partly Secured Advances: (Where liquid collateral security is offered like TDRs, IVPs,KVPs,NSCs, LIC Policy (surrender value) etc. at least equal to 50% of loan amount sanctioned) :2.00% over BPLR, at present 12.75% p.a. at monthly rests.

3. Clean/Unsecured Advances: 0.50% over BPLR at present 13.25% p.a. at monthly rests.

4. For senior citizens /pensioners (where pension payment is through an a/c with the branch disbursing the loan and EMI will be recovered out of pension amount): For loan amount up to Rs.50,000/- : @ 0.75% below BPLR, Min. 12.00% p.a. at monthly rests.

Processing Charges: One time @ 1.10% of the loan amount. minimum Rs. 750/-, Maximum Rs.2500/-.

Pensioners : One time @ Rs. 1.10% of loan amount Min. Rs.500/- Maximum Rs 1100/-

Tie-up arrangement: The Bank has entered into a Tie-up arrangement with Club 7 Holidays Pvt. Ltd. for financing their clients at certain major cities-Mumbai, New Delhi, Kolkata, Chennai, Pune, Ahmedabad, Hyderabad, Bangalore, Nagpur.
The Bank has entered into a Tie-up arrangement with Kesari Tours Pvt. Ltd. for financing eligible customers under our "Star Holiday Loan Scheme' at a low/concessional rate of interest and at other concessional terms like waiver of processing charges, Nil margin etc.

Terms and conditions apply. Loan at the sole discretion of Bank of India. For further information, you may contact nearest Branch of the Bank.

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