Every once in a while, you find yourself stuck up in financial crises. It could be a significant loss in business or medical emergency in a family it’s all part of life, and you can’t deny it but what you can do is, you can chin up and face it with a little help. With Bank of India Personal Loan, you will be getting the required amount in no time. Easy and simple.

In addition to this, a personal loan is said to be an unsecured loan. Thus, you don’t have to worry about providing any collateral against the amount you are taking in. Avail Bank of India Personal Loan Online now and get exciting offers at lowest interest rate possible

What is Bank of India Personal Loan?

When you take a loan from a bank to get rid of your financial problems is said to be Personal Loan. In the modern era of tech, everything is just a few clicks away same goes for taking a loan. Now you can apply for perosnal loan online and save the hassle of going to the bank.

Likewise, you can use the loan amount in any way you like there are no restrictions at all making it one of the most versatile loaning schemes of all time. You can use the online service to access the loan for personal needs. And also you will get to know how much interest you need to pay before even applying for a loan.

You can avail this loan based on income, credit score, and history of employment history, repayment capacity. As it is not similar like an auto loan or a home loan where you don’t have to keep any assets to get the loan

Bank of India Personal Loan Eligibility

Almost all banks and the Non-Banking Financial Company (NBFC) give loans to all the customers which help them in satisfying their needs based on some eligibility. Given below is the eligibility criteria for Bank Of India Personal Loan

For Salaried Applicant:

  1. First of all, the age of the applicant should be at least 21 years at the time of applying for a loan.
  2. On the other hand, the maximum age for the salaried applicant is 60 years.
  3. Likewise, your monthly salary needs to be more than Rs. 18,000 to avail this loan.
  4. Applicant should be working with the current employer for about 6 months at least.
  5. Moreover, you need to have two years of working experience.
  6. Most Importantly the CIBIL score of the applicant should be more than 750

Click to know more about Salaried Applicant

For Self-employed Applicant:

  1. Firstly, the age of the applicant should be more than 25 years at the time of availing the loan.
  2. Furthermore, the maximum age to avail this loan is 65 years.
  3. One of the most important things is your credit score, which needs to be above 750.
  4. The business should be up and running for about 2 years.
  5. In addition to this, the Income Tax Returns should be more than 2.5 Lacs for the past 2 years.

Click here to know more - Self-employed Applicant

Why Choose Bank of India Personal Loan?

A financial difficulty or crises could arise in anyones life. For instance unexpected expenses, illness and reconstruction of your home etc. There can be several reasons for taking a personal loan. This loan is easily available, and in less than 48 hours, your loan gets sanctioned.

  1. Bank of India personal loan is easily available in thier bank branches throughout the country. The processing fee isn't expensive, and 
  2. In addition to this, the documentation process requires very few documents making the process fast and hassle-free.
  3. Furthermore, you can apply online and get your documents picked from your home

Bank of India Personal Loan Interest Rates

  1. The interest rates provided by the bank of India are easily affordable. It depends on your income and the amount of loan you require.
  2. In addition to this, Bank of India provides you with a loan at an interest rate as low as 10.75% per annum. These rates are variable to the individual to individual.
  3. You can apply for a personal loan if your need comes in between Rs. 1 Lakhs to 20 Lakhs.
  4. Likewise, you have to return this amount of loan with 36 EMI’s. In simple words, you have to pay 36 EMIs.
  5. Lastly, you have to repay the borrowed amount of loan after some, which is called the tenure of the loan. The personal loan tenure ranges from 12 (1 year) to 60 months (5 years)

More About: Interest Rates on Personal Loan

Features and benefits of the Bank of India Personal Loan

Apart from the other loans, the money which you’ll be getting through the personal loan can be utilized anywhere as per your needs. This loan is to deal with the problem arise at home like repairing the house, to pay hospital bills and for the unexpected events.

  1. In a personal loan, you don’t have to keep an asset like gold, home or any such thing like security. It is straightforward to use for a high number of people.
  2. It depends on the customer financial history and credit report according to it you will get the loan.
  3. Lastly, 1 year to 3-year terms will be given, and it is depended on individual to Individual.

Documents required for taking Bank of India Personal Loan

The documents which are necessary to verify the eligibility to the Bank of India are listed below:

  1. Identity Proof: The customer has to prove the identity with the help of Aadhar Card, PAN Card, Passport, or any other KYC document.
  2. Residence Proof: The residence has to be declared by the help of Aahar Card, Voter Card, any utility bill of last 6 months or by the rental agreement.
  3. Proof of Income: The income can be proven by the ITR and salary slips of the self-employed and employed respectively.

Why Apply for a Personal Loan at Dialabank?

Indian banking industry is going to be the 3rd largest in the world by 2025 and a lot of growth will be there in digital marketing and we, at Dialabank, help the customer to get a loan and provide required amount in time. As Dialabank is linked up with various banks and is India’s first financial helpline company, it provides credit to its customers at best interest rates.

  1. Check your Eligibility anytime anywhere: We have our own in-house Personal Loan EMI calculator so that it will be helpful for the customer to know their EMI even before they apply for the loan.
  2. Instant loan Approval: After submitting all the documents for the personal loan, then the customer will get instant approval.
  3. Doorstep Facility: You will get a document pickup facility from your doorstep.
  4. Responsive: The customer query response is swift.
  5. Free Service: Yes, don’t be shocked but our service is free of cost. Thus, you don’t need to pay us a single penny
  6. For more information, you may call on 60011600 or 9878981166 we are always happy to hear from you.

Click here to know more about- EMI Calculator

How to Apply for Bank of India Personal Loan Online?

  1. Firstly, you need to visit our website DialaBank.com
  2. Once you reach the site, fill Personal Loan Form online with your necessary details along with your phone number.
  3. It is required that you provide us with your correct and working phone number as our RM’s will soon be in touch with you.
  4. In less than 30 minutes, our relationship manager will get in touch with you and provide you with her expertise.
  5. We’ll compare personal loan for you and provide you with the best credit available near your area.
  6. Finally, submit your documents in the bank and get the loan amount in 48 hours in your bank account.

Special Note: We do not provide Personal Loan to bad credit holder, but you can fulfil your money requirement by taking Gold Loan quickly.

History of Bank of India

Bank of India was formed on 7th September 1906 by a group of businessmen, originally from Bombay Maharashtra which is now Mumbai. The Bank was under private ownership and control till July 1969 when it was nationalized along with 13 other banks in India. Beginning with a single office in Mumbai, with 50 employees, the Bank has made a rapid growth over the years and has grown into an institution with a national presence and large international operations.

In business volume, the Bank occupies a premier position among the nationalized banks. The Bank has 4828 branches in India spread over all states/ union territories, including specialized branches. These branches are controlled through 50 Zonal Offices. There are 56 branches/ offices and 5 Subsidiaries and 1 joint.

Other Leading Personal Loan providers in 2019 (Click to Apply)

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