A recent press report said that Bank of India has decided to process all credit-related services for benefit of its customers.
Mr. Prem Kumar, general manager, of the bank told the press that the bank would process loans within a fixed time frame.
He said that all credit proposals between Rs. 1 crore and Rs. 10 crore would be processed by the small and medium enterprise (SME) city centre branches within 21 days. He added saying that the bank has over 20 branches under SME category and are working to improve loan disbursement process in the interest of local businessmen.
Recently increase the Bank’s Base Rate from the existing 9.50% per annum to 10.00% per annum and Bank’s Benchmark PLR from the existing 13.75% per annum to 14.25% per annum. The bank offers a wide range of loans lie home loans, car loan, educational loan, and personal loans namely star mitra personal loan ,star personal loan ,star pensioner loan scheme ,star ipo, star home loan ,star educational loan ,star holiday loan ,star mahila gold loan scheme ,star mortgage loan ,star autofin etc.