1. Saving Banks
Name of Scheme Savings Bank A/c
Scheme available at br. all branches
Eligible Individual - Single Accounts,Two or
more individuals in Joint Accounts ,
Illiterate Persons Blind persons,Minors,
Associations, Clubs, Societies, etc.
specifically permitted by the RBI
Initial Deposits Rs.500/- for Cheque book operated and
Rs.100/- for non cheque book a/cs,
For Pensioners Rs.100/- and Rs.10/-
respectively for cheque book and non
cheque book a/cs
Interest Rate 4.00 % p.a, will be calculated on daily
product basis from 03.05.2011 and will be
credited twice in a year in Feb and August
or at the time of closing A/c.
Name of Scheme Current Account (normal) Scheme available at br. In all Branches Eligible Individual -
(ii)Two or more individuals - Joint Accounts
(iii)Sole Proprietory Concerns
(ix)Associations, Clubs, Societies, etc.
(xi)Joint Hindu families (accounts of non-trading nature only)
(xiii)Government and Quasi-Government Bodies
(xvi)Educational Institutions (including Universities)
2. (xvii)Charitable Institutions Initial Deposits and AQB Rs.5000/- Minmum balance Same as above
Incentives Free Global Debit cum ATM card to Individuals and Prop(Annual Charges applicable from next
year ) SMS/phone/Internet banking free Free NEFT/RTGS through internet Banking From any branch
max. cash withdrawal through cheque:50000/-, upto 25000/- per day free. Beyond Rs.25000/- charges -
Rs.2/- per thousand and cash deposits.
Inter-sol fund transfer to third party’s a/c is free upto Rs 1 lac per occasion per day BOI-National
Swasthya Bima Yojana floter mediclaim policy and domestic travel Ins policy of NICL available at
concessional rate of premium to individuals
Fixed/Short Term Deposit
Mode of calculation of Interest on Short Deposits and Fixed Deposits for periods less than 12
Interest should be paid for the actual
Short Deposits ___________ number of days on the basis of 365
On deposits repayable within six months days in a year
Fixed Deposits Interest will be calculated for the completed
On Deposits repayable after six months months and
(Fixed Deposits) where the terminal month is incomplete- the
where the terminal month is complete or actual number of days on the basis of 365 days in
incomplete a year.
KYC ( Know Your Customer) for opening account is applicable for these accounts hence proof
of residence and proof of identification will be required alongwith recent photograph of the
Need to open Savings Bank Accounts
It is desirable that the Term Deposit account holders also maintain Savings Bank accounts with
the Bank so as to avoid delay in disbursement of interest on term deposits or inconvenience to
the depositor to call on the Branch to collect interest.
``For the benefit and convenience, may we suggest that you open a Savings Bank Account with
us and give us instructions to credit thereto, half yearly interest on this Term Deposit Receipt.
Your interest will earn interest.''
Types of Accounts
Term Deposit accounts may be opened in the names of :
(i) Individual - Single Accounts
(ii) Two or more individuals - Joint Accounts
(iii) Sole Proprietory Concerns
3. (iv) Partnership Firms
(v) Illiterate Persons
(vi) Blind Persons
(viii) Limited Companies
(ix) Associations, Clubs, Societies, etc.
(xi) Joint Hindu families (accounts of non-trading nature only)
(xiii) Government and Quasi-Government Bodies
(xv) Religious Institutions
(xvi) Educational Institutions (including Universities)
(xvii) Charitable Institutions
Minimum amount Rs.1 lac for SDR and Rs.10,000/- for FDR in Metro and Urban Branches and
Rs.5000/- in Rural and Semi urban branches and for senior citizens the minimum amount will
be Rs 5000/-Minimum amount per single deposit for period of 7days to 14 days will be Rs.1lac.
Minimum Amount criteria will not be applicable to Subsidy kept under GOVT Sponsored
Schemes, Margin Money, earnest money and court attached/ordered deposits
Payment of Interest: (Subject to applicable TDS)
Interest will be paid half yearly on 1st October and on 1st April and in case these dates falls on
holidays then on the next working day
Payment and Renewal of Deposits Before Maturity
Depositors may request repayment of their deposits before maturity. Repayment of term deposits
before maturity is permissible in terms of the directives of the Reserve Bank of India issued from
time to time. In terms of the directives, the provision regarding premature withdrawal of deposits
is as follows:
NO Penal Interest on premature payment of deposit.
Request for While prematurely closing a deposit, interest on the deposit for the period
premature that it has remained with the Bank will be paid at the rate applicable to the
withdrawal period for which the deposit remained with the Bank and not at the
STAR HOME LOANS Download document
4. Eligibility Salaried employees , Professionals like Doctors Lawyers,
Engineers , Chartered Accountants, Self –employed persons.
Group of Individuals , NRIs, PIOs, HUF, Prop. Firm. Partnership
Firm and Corporates(for purchase/construction of houses/flats for
Purpose To Purchase / construct house / flat
To renovate /extend / repair existing house /flat
To purchase a plot of land and construction of house.
To acquire household articles along with house / flat for
furnishing the house /flat
To take over housing loans extended by other banks/FIs
Quantum of Loan For Construction/ Purchase of a house/ flat –
At Metros (Mumbai/Delhi/Kolkata/Chennai) – Rs.500 lacs.
Other Places Rs.300 lacs.
For repair/renovation / extension /addition to house / flat –
Rs 50 lacs.
For purchase of a plot – Rs 100 lacs (part of composite
For furnishing the house / flat -15% of Home loan, max.
Rs 5 lac.
Loan eligibility : Salaried employees : 72 times of gross monthly salary or 6
times of gross annual income based on I.T.Returns
Self –employed Professionals /Individuals engaged in
Trade / Commerce / Business : 6 times of gross annual
income based on I.T. Returns
HUF/ Proprietorship / Partnership Firm / Company ; 6
times of cash accruals (PAT + Depreciation) as per their
balance Sheet / P&L account
Other stipulations : In case of Individuals : Net take home pay/Income (net of
EMI on proposed Home loan) Min.40% of Gross
In case of HUF/ Prop / Partnership firm /
Company/DSCR: Min 1.5
Margin : 1st House 2nd &
For limits upto Rs 20 lacs 20% 25%
For limits over Rs 20 lacs upto Rs 50 25% 30%
For limits over Rs 50 lacs 30% 40%
of the project cost, i.e. cost of
construction / acquisition /renovation/
extension /repair etc.
cost incurred for purchase of plot and
/ or Pledge of liquid securities like
Bank TDRs /NSCs/ KVPs etc. (to the
extent of face value only) can be
treated as margin.
Repayment : Maximum 20 years including moratorium period of 18 months
in equated monthly installments
Progressive / Step-up EMI also permitted.
Processing charges 1. For Individuals - For Loans upto Rs.25 lacs One time @
0.50% of loan amount – min.
Rs.4000/- and max. Rs.10,000/-
For Loans over Rs.25 lacs upto Rs.75 lacs - One time flat
For loans over Rs.75 lacs upto Rs.300 lacs - One time flat
For loans over Rs.300 lacs - One time flat Rs.50,000/-
2. For Firms/Corporates - charges double that of Individuals
3. For Rural Areas - 75% of charges that of applicable to
individuals for borrowers of rural areas from Rural
Conversion Charges For switch over from fixed to floating or vice-versa:
i. Fixed to Floating ROI:@0.25% p.a on o/s balance for the
remaining maturity of the loan;
(Maximum Charge :2.10% of the outstanding balance )
6. Other Charges Charges applicable in case of deviation of Rs.5,000/- per deviation
from scheme norms. Stipulated charges for availing switch over
from floating to fixed and vice versa.
Rate of Interest Floating-p.a at monthly rests (Under Festival Offer valid upto
Upto 5 >5 -10 >10-15 >15-20
years years years years
Upto Rs.25 Base Base rate Base Rate Base Rate
>Rs.25 lacs 0.25% 0.25% 0.25% >BR 0.25% >BR
to Rs.75 lacs >BR >BR
>Rs.75 lacs 0.75% 0.75% 0.75% >BR 0.75% >BR
Rate of Interest –Floating (Normal Rate of Interest)
Upto 5 >5 -10 >10-15 >15-20
years years years years
FOR Base Rate Base Rate 0.25%>BR 0.25%>BR
FOR 0.25%>BR 0.50%>BR 0.75%>BR 1%>BR
FOR 0.75% 1%>BR 1.25%>BR 1.50>BR
LIMITS OF >BR
Interest on daily reducing balances. Interest applicable to residents
as well as non-residents.
7. Present Base Rate is Salient Features –
10.75% p.a. w.e.f
28.07.2011 o Higher loan eligibility ; * Flexible EMI ; *
Competitive Interest Rate;
o No 3rd Party Guarantee – where mortgage is
available before disbursement;
o Free Personal Accident insurance Cover (Death and
o Optional Life Insurance Cover from Star Union
Dai-ichi LIC Ltd;
o No Pre-Payment charges[Pre-Payment charges in
case of take over of accounts abolished w.e.f
16.12.2011];No hidden charges;
o No Administration fees ;* No commitment charges;
Terms and Conditions apply.Loan at the sole discretion of Bank of India.
For further information, you may contact nearest branch of the Bank.
STAR HOME LOANS - Festival offer 1 Provides loans to purchase a Plot for construction of a
House, to purchase/construct house/flat, as well as for renovation/ repair/alteration/addition to
house/flat, furnishing of house.
2 Maximum loan amount is Rs.300 lacs and repayment ranges upto 20 years, with reasonable margin
and nominal processing charges. No commitment /administrative charges.
3 The loan is available at very competitive rates of interest, currently available in the industry.
4 Option for different EMI amounts for different periods during tenure of loan to suit customers
5 Prepayment of Loan permitted
6 Interest is calculated on daily balance basis which is of great advantage to customer as it results in
lower interest amount.
7 Loan to NRIs as well as Persons of Indian Origin.
8 Simplified application form/procedures for convenience of customers, and speedy approvals.
9 Free Personal Accident Insurance cover
10 Life Insurance Cover to borrowers for Loan Protection(optional)