Bank of India Loan Against Property – Apply BOI Loan Against Property

By | September 10, 2017

Bank of India Loan Against Property – Online Apply BOI Loan Against Property

Bank of India Loan Against Property scheme provide very easy interest rate on loan. now you can apply for Loan against property. Just read the below article and get the all details about your loan against property.

Established in 1906, the Bank of India (BOI) at present has around 4963 branches, 54 zonal workplaces, 5 auxiliaries the nation over and one abroad joint wander. The Bank of India expects to give proactive, the condition of workmanship and inventive saving money answers for clients. BOI offers an extensive variety of items and administrations took into account different segments from corporate and SME to country and retail among others. Bank of India offers loan against property (Mortgage Loan) too.

Loan Against Property




1 – People Salaried Employees/Self Utilized/Professionals

48 times of normal net payments (bring home pay) in light of pay slip/Form 16/Income Tax Return OR 4 times of net yearly pay with other rental pay from the property etc. bases on IT return for last 2 and 3 financial year.


2 – Specialist/s if there should be an occurrence of shared services all to be specialists

4 times of normal net yearly salary of last 2/3 years in light of IT Returns for last 2/3 Financial Years


3 – Others i.e. Proprietorship/Partnership Firm/Company and so on.

  • For Loans/Reducible Overdraft: 4 times of normal net yearly salary of last 2/3 years in light of IT Returns for last 2/3 Financial Years.


  • For Overdraft (Non-Reducible): 20% of yearly turnover in light of last (F.Y) inspected accounting report of the defender. Reviewed Balance sheet to be acquired for last 2/3 years:- in light of its number of years presence.



  1. Nil Margin for advance farthest point gave on the premise of Circle Rate/Registration estimation of the property (100% Loan sum);
  2. 60 % of Market esteem (40 % Loan sum);

III. Half of Distress Sale Value (half Loan sum); whichever is most minimal of I, ii and iii.


*Value of property for computation of quantum of progress/deciding edge will be most minimal of Market esteem, Distress Sale esteem and Registration of estimation of property/comparative property as on date of valuation.



For individual:-

Gross Monthly Income% of NTHP
Upto Rs.1.00 lacs40%
Rs. 1.00 lacs & above upto Rs.5.00 lacs30%
Above Rs.5.00 lacs25%


For Prop. Firm/Partnership Firm/Company (Loan /Reducible OD): DSCR: Min.1.5;

For Overdraft facility (Non-reducible): ISCR Min.1.5

Rate of interest – Click here

Repayment Terms:-

For loans (Repayable by EMI)

Max. 12 years by way of equated monthly installments (EMIs)

Overdraft: (Reducible Limit)

(Interest to be serviced on monthly basis)

Overdraft: (Non-reducible)

Interest to be serviced on monthly basis, as per sanction terms.

If there should arise an occurrence of people Loan/Overdraft (Reducible) to be shut inside as far as possible as recommended.



Evenhanded/Legal home loan charge over the property (counting enlistment of impartial home loan charge in pertinent states and Registration of EQM accused of CERSAI in qualified records) ;

Acquiring individual assurance of extra individual(s) at the carefulness of the endorsing power.

Note –

(a) The property to be sold ought to be for the sake of the candidate or his/her life partner or close relative according to Section 6 of Companies Act 1956 or people speaking to the relationship, for example, firm/proprietor, organization/accomplices, and organization/executives. The individual/substance in whose name the property to be sold to be either co-borrower or underwriter.

(b) Agricultural land not acknowledged as security for advances/propels under this plan;

(c) The property possessed by Company/HUF/Society and so forth can’t be sold for advance benefited by Directors/Karta or coparceners/Office-Bearers.


PROCESSING CHARGE (Exclusive of Service Tax):

For Loan (Repayable by installments)

One time @ 1% of sanctioned loan amount Min. Rs.5, 000/- and Max. Rs.50, 000/-.Plus S.T.

For Mortgage OD (Not reducible)

0.50% of the Sanctioned/Reviewed limit min.Rs.5,000/- and max. Rs.30, 000/- on annual basis. Plus S.T.

For Mortgage OD (Reducible)

  1. a) 0.50% of the Sanctioned limit Min.Rs.5,000/- and max. Rs.30, 000/- for 1st year at the time of original sanction. Plus S.T.
  2. b) 0.25% of the Reviewed limit Min.Rs.2,500/- and max. Rs.15, 000/- for subsequent years. Plus S.T. 

For Rural Areas –Processing charges will be 75% that of normally applicable charges in respect of loans availed by borrowers from rural areas from the Rural branches. Plus S.T.


Limits UPTO Rs.10.00 lakh


Limits exceeding Rs.10.00 lac & up to Rs.1.00 crore.


Limits exceeding Rs.1.00 crore & up to Rs 5.00 crore


Rs.20,000/ –

Different CHARGES/EXPENSES: Document stamp charges, advocate charges, draftsman/valuer charges, CERSAI Registration Charges and so forth. on genuine premise.




The advocate will be qualified for credit subject to abstention of least checks or least passage level standard altered by the bank

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