BOI | Bank of India

Product

BOI STAR VEHICLE LOAN SCHEME- DOCTOR PLUS

To avail loan for your dream vehicle, just give a missed call on 8010968305 or SMS <VL> to 7669300024 or visit Bank’s website or PSB-59 Portal or Mobile banking.

Eligible Customers

Individual & Proprietorship Firms
Qualified registered medical practitioners with minimum 3 years’ experience in any branch of medical science recognized by MCl/DCI /other statutory /regulatory authorities to practice in India
Age- 25 to 75 Years. Outer age is the age by which the advance facility should be repaid in full (Age deviation allowed)

Purpose

For purchase of new two wheeler/four wheeler vehicle.
Reimbursement of cost of four wheeler vehicle purchased from own sources.

Type of Advance

Demand Loan/Term Loan

Quantum of Loan

Two or four wheeler vehicle run on conventional & non-conventional source of energy

Individuals & proprietorship firms For Indian make vehicles/ imported vehicles: Rs.200 lakhs (can be multiple personal vehicles within the limit)

Eligible loan based on income

For Salaried:

• 4 times Gross average income of last 2 years ITR/ 4 times gross average income of latest form-16/ with Net take home pay (NTHP) as under,

Gross Monthly Income	NTHP (%)
Up to Rs.1.00 Iakh per month :	40 %
Up to Rs.5.00 lakhs per month :	30%
Above Rs.5.00 lakhs per month:	25%

For Proprietorship Firm:

Four times of average annual cash accrual (i.e. PAT + Depreciation) as per last two years I.T. Returns, Balance sheet, P&L Account filed in respective assessment years, subject to a minimum DSCR of 1.25

Repayment

84 months

Security

Hypothecation of Vehicle.
Comprehensive Insurance of the vehicle with Bank clause.

Margin

New Vehicles (Individuals/Proprietorship firms)

10% (on 'ON ROAD PRICE') uniformly for all limits. Margin includes basic price of vehicle, Road Tax, Insurance and Registration excluding cost of accessories.

BOI STAR VEHICLE LOAN - INDIVIDUALS