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STAR VEHICLE LOAN

Announcements

Dear Customer, please note that we have revised our Interest Rates and improved our Product Service delivery w.e.f 01.10.2018; Visit our nearest branch for update. View More...

Audited Financial Results as on 31.12.2017

Audited Financial Results as on 31.12.2016

Audited Financial Results as on 31.12.2015

Financial Statement as on 31.Dec.2018

Audited Financial Statement as on 31.Dec.2018

Exchange Rates

BOI STAR VEHICLE LOAN

Choose a BOI Star vehicle Loan to own your dream car.
Our Star Vehicle loan is designed to help our customers with regular income to acquire a new or used Car.

Main features and benefits

  • For new vehicle; Up to 90% of cost of vehicle, vehicle registration, lien noting fee and insurance – subject to a maximum loan amount as per BOIUL Guidelines.
  • For second hand vehicle; Up to 80% of value of vehicle assessed by approved valuer, subject to maximum loan amount as per BOIUL Guidelines.
  • In case of salaried employees net take home pay after deducting monthly installment of the proposed loan should not be less than 25% of the gross monthly salary.
  • Indicator Prime Lending Rate + as shall be advised by BOIUL at the time of loan application
  • Repayment Period; Maximum term of up to 60 months for new car and Maximum term of up to 36 months for second hand (used) car.


Basic Requirements

  • Formal Application stating the amount, purpose, tenor, source of repayment and proposed security.
  • Financial Card Number for the borrowing entity.
  • Third party guarantee of persons with adequate worth. (Can be waived at the discretion of BOIUL depending on the standing of the borrower)
  • BOIUL will register a first charge on the Log book of the vehicle being purchased from the loan.
  • The vehicle must be comprehensively insured noting BOIUL as the beneficiary to the vehicle. A copy of the vehicle insurance policy must be obtained from the borrower before drawdown of the loan.