You may require instant funds from time to time. To fulfill the fund requirements, you look around your family members and friends. When you don’t get a response from either of them, you often put your hand over somebody else. Bank of India Personal Loan offers financial support to salaried individuals, pensioners, and self-employed professionals to meet various personal needs such as medical expenses, education, travel, or home renovation. With interest rates starting from 11.60% p.a. Up to 14.60%, flexible repayment options, and minimal documentation.

A government-owned unit since 1969, the bank has expanded by offering products and services tailored to different needs. Today, it is a big name in commercial banking, retail banking, corporate banking, and other financial operations. If you have any personal purposes to be met, apply for suitable personal loan products from the Bank of India. We are ready with the details of the bank’s loan to update you. 

All set to be updated? Get down to the information below.

Bank of India Personal Loan Interest Rate Details 2025

The table shows you the latest Bank Of India Personal Loan Rate of 2025. Go through the table carefully - 

Particulars	Details
Interest Rate	Starting from 11.60% p.a. to 14.60% p.a.
Loan Amount	Up to Rs. 20,00,000
Loan Tenure	Up to 84 months
Age	Maximum 70 years at the time of final payment

Types of Bank Of India Personal Loan

The top Bank of India Personal Loans are mentioned below - 

1. Start Pension Loan 
2. Start Suvidha Express Personal Loan 
3. Start Rooftop Solar Panel Finance Loan 
4. Star Mitra Personal Loan 
5. Start personal Loan Doctor Plus

Start Pension Loan

The STAR Pensioner Loan offers EMIs starting from Rs.2,205 per lakh, with a maximum loan amount of up to 20 times the net monthly pension for secured loans and 15 times for clean loans. It comes with a flexible repayment tenure of up to 60 months, quick loan processing, and nil processing charges for senior citizens. The loan also includes a clean loan facility without the need for collateral, along with easy documentation for a hassle-free experience.

Star Suvidha Express Personal Loan

The STAR Suvidha Express Personal Loan offers EMIs starting from Rs.1,699 per lakh, with a maximum loan amount of up to 24 times the gross monthly salary for salaried individuals and up to 36 times for existing home loan customers. It provides a flexible repayment tenure of up to 84 months, quick loan processing, and a clean loan facility without the need for collateral. Borrowers can also avail of more than one personal loan, ensuring greater financial flexibility. 

Rate of Interest & Charges:

• The attractive interest rate of 11.60% p.a., calculated on a daily reducing balance.
• Processing & Other Charges: One-time PPC fee of Rs.1,000 + GST.

Eligibility:

• Salaried individuals with salary accounts in BOI.
• Existing salaried home loan customers of BOI.
• Loan Amount: Based on eligibility criteria.

Start Rooftop Solar panel Finance Loan

The PM Surya Ghar – BOI Star Rooftop Solar Panel Finance Loan offers affordable financing with a margin of 5% for individuals and 10% for housing societies. It comes with a flexible repayment tenure of up to 120 months and ensures quick loan processing for a hassle-free experience.

Rate of Interest:

• Starts from 7.00% p.a.
• Calculated on a daily reducing balance
• PPC Charges: NIL

Advantages:

• Zero processing charges
• Competitive interest rates starting from 7.00% p.a.
• Loan amount up to Rs.6 lakh for individuals and Rs.100 lakh for housing societies
• Financing up to Rs.2 lakh for systems up to 3KW and Rs.6 lakh for systems above 3KW to 10KW

Eligibility:

• Individuals, registered group housing societies, and residential welfare associations.
• The borrower/co-borrower must be the owner of the house.

Star Mitra Personal Loan

The STAR Mitra Personal Loan offers EMIs starting from Rs.2,130 per lakh, with a maximum loan amount of up to 15 times the net monthly salary for salaried individuals or 100% of the net annual income for self-employed individuals. It comes with a flexible repayment tenure of up to 60 months, quick loan processing, and zero processing charges. The loan is available as a clean facility without the need for collateral, ensuring easy access to funds.

Charges: PPC for Individuals: Waived

Eligibility:

• Available for salaried individuals, self-employed persons, and professionals
• Loan Amount: Determined based on eligibility criteria.

Star personal Loan Doctor Plus

The STAR Personal Loan – Doctor Plus offers EMIs starting from Rs.1,648 per lakh, with a maximum loan amount of up to 36 times the gross monthly salary. It provides a flexible repayment tenure of up to 84 months and includes a reducible overdraft facility. The loan ensures quick processing, requires no collateral, and allows borrowers to avail of multiple personal loans. With easy documentation, it offers a hassle-free borrowing experience.

Charges:

• PPC: 50% of the standard charges applicable to individuals
• One-time Fee: 1.00% of the loan amount (Minimum Rs.1,000, Maximum Rs.10,000)
• Concessions: Special discounts available for approved schemes

Eligibility Criteria For Bank Of India Personal Loan

To avail of the personal loan in the Bank of India, you need to fit into the below eligibility criteria.

• Individuals: Salaried, self-employed, and professionals
• Non-Individuals: Trusts are not eligible under this scheme
• Groups: Permanent, confirmed, or permanent employees
• Age Limit: Maximum age of 70 years at the time of loan repayment completion.

Bank of India Personal Loan EMI Calculator

Using the Wishfin Bank of India Personal Loan EMI Calculator, let's determine the EMIs, interest, and total amount payable for a loan of Rs.10,00,000 at an interest rate of 11.60% per annum and say up to 14.60% p.a. for 5 years.

Tenure	Interest Rate (11.60%p.a.)	Interest Rate (14.60% p.a.)
1	₹88,661.77	₹90,069.67
2	₹46,886.89	₹48,296.82
3	₹33,023.59	₹34,469.77
4	₹26,137.87	₹27,628.41
5	₹22,042.84	₹23,580.48

Documentation Required for BOI Personal Loan

Next, a thing to which you need to pay attention is the documentation required to get the personal loan from this bank.

1. Proof of Identity (Anyone)

• PAN Card
• Passport
• Driver’s License
• Voter ID

2. Proof of Address (Anyone)

• Passport
• Driver’s License
• Aadhaar Card
• Latest Electricity Bill
• Latest Telephone Bill
• Latest Piped Gas Bill

3. Proof of Income

• For Salaried Individuals: Last 6 months’ salary slips or 1-year ITR/Form 16
• For Self-Employed Individuals: Last 3 years ITR with CA-certified Computation of Income, Profit & Loss Account, Balance Sheet, and Capital Account Statement

4. Additional Requirements (If Applicable)

• For Pensioners: Pension Payment Order (PPO) with the bank branch
• For Differently-Abled Individuals: Doctor’s certificate specifying the extent of disability and the necessity of the equipment
• For Medical Professionals: Copy of registration with the State or Indian Medical Council. 

Processing Fee of Bank Of India Personal Loan

Type	Processing Charges
Star Personal Loan	1% of the loan amount (Min: ₹2,500, Max: ₹15,000) For Senior Citizens – No Charges
Star Pensioner Loan Scheme	Senior Citizens (60 years & above) – No Charges Others – One-time fee of 0.50% (₹250 – ₹1,000)
Star Suvidha Express Personal Loan	1% of the loan amount (Min: ₹2,500, Max: ₹15,000)

Features of Bank Of India Personal Loan

Some of the best features of Bank of India's personal loans are given below. Read carefully about them - 

• Simple Documentation: Hassle-free process with minimal paperwork.
• Affordable EMIs: Starting from ₹1,105 per lakh for easy repayment.
• High Loan Amount: Get up to 36 times your gross monthly salary.
• Flexible Tenure: Repay conveniently for up to 84 months.
• Exclusive Benefits: Special offers for doctors, government & PSU employees, and salary account holders.
• Tie-Up Schemes: Approved loan schemes with partnered institutions.
• Fast Processing: Quick loan approval with minimal turnaround time.
• Zero Processing Fees: No processing charges for differently-abled applicants.
• Collateral-Free Loan: No security or guarantor required.
• Multiple Loan Facility: Eligible borrowers can avail of more than one personal loan.
• Women-Centric Benefits: 0.50% interest rate concession for women applicants.

Best Advantages of Bank Of India Personal Loan

Here are the advantages of a Bank Of India Personal Loans - 

• Affordable Processing Charges: Offers competitive rates in the market.
• Low Interest Rates: Starting from 10.85% p.a., making repayment easier.
• High Loan Limit: Borrow up to ₹25 lakh based on eligibility.
• Transparent Terms: No hidden fees or unexpected charges.
• Flexible Repayment: No penalty for prepayment, allowing early closure without extra cost.

Conclusion

Whether it’s for medical emergencies, education, travel, or home renovation, Bank of India personal loan options are customized for you to meet various financial needs. Special benefits include zero processing fees for differently-abled applicants, interest concessions for women, and exclusive offers for professionals like doctors and pensioners. Salaried employees, pensioners, and self-employed individuals can access funds easily with minimal documentation and quick loan disbursal.