Yes, the Bank of India does offers loans against property. The current interest rate is at 8.85% to 10.35%. 

Getting a loan against property is one of the sure-shot ways to accumulating funds for any needs that may arise. Be it your child’s higher education, or a business expansion, or an unexpected medical emergency, the Bank of India offers you a loan against your property at competitive rates. 

Read more on Loan Against Property

Bank of India Loan Against Property

Maximum Loan Amount

Rs.7.5 crores

Maximum age to avail this loan

60 years for salaried and 70 years for self-employed and professionals

Repayment tenure

Up to 15 years

Rate of Interest

Based on CIBIL Score; 8.85% - 10.35%

Type of Loan

Demand /Term Loan (Repayable by instalments)

Overdraft (Reducible Overdraft: Drawing limit as per repayment schedule)

 

Note: 

  • Bank of India Loan Against Property is available for both Indian citizens and NRIs.
  • The loan amount can be used for any of your needs except for financial speculation of any nature.
  • This loan can be helpful if you are looking to repair, remodel or redesign your house.
  • It can also be used to expand your business.