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. Trusts, Institutions/Agencies 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 - Single Accounts(ii)Two or more individuals - Joint Accounts(iii)Sole Proprietory Concerns(iv)Partnership Firms(v)Illiterate Persons(vi)Blind Persons(vii)Minors(viii)Limited Companies(ix)Associations, Clubs, Societies, etc.(x)Trusts(xi)Joint Hindu families (accounts of non-trading nature only)(xii)Municipalities(xiii)Government and Quasi-Government Bodies(xiv)Panchayats(xv)Religious Institutions(xvi)Educational Institutions (including Universities)

(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 months:

Short DepositsOn deposits repayable within six months(Short Deposits)

Interest should be paid for the actual ___________ number of days on the basis of 365 days in a year

Fixed DepositsOn Deposits repayable after six months(Fixed Deposits)where the terminal month is complete or incomplete

Interest will be calculated for the completed months and where the terminal month is incomplete- the actual number of days on the basis of 365 days in 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 depositor/s

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 (iv) Partnership Firms

(v) Illiterate Persons (vi) Blind Persons (vii) Minors (viii) Limited Companies (ix) Associations, Clubs, Societies, etc. (x) Trusts (xi) Joint Hindu families (accounts of non-trading nature only) (xii) Municipalities (xiii) Government and Quasi-Government Bodies (xiv) Panchayats (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: 

 

Request for premature withdrawal

 NO Penal Interest on premature payment of deposit.While prematurely closing a deposit, interest on the deposit for the period that it has remained with the Bank will be paid at the rate applicable to the period for which the deposit remained with the Bank and not at the contracted rate.

STAR HOME LOANS      Download document

 

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 their employees).

Purpose To Purchase / construct house / flat To renovate /extend / repair existing house /flat To purchase a plot of land and construction of house.

(Composite Loan) To acquire household articles along with house / flat for

furnishing the house /flat To take over housing loans extended by other

banks/FIs /NBFCs

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 loan)

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 pay/income

In case of  HUF/ Prop / Partnership firm / Company/DSCR: Min 1.5

Margin :   1st House 2nd &

subsequent house

For limits upto Rs 20 lacs     20% 25%For limits over Rs 20 lacs upto Rs 50 lacs  

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 installmentsProgressive / 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 Rs.20,000/-For loans over Rs.75 lacs upto Rs.300 lacs -  One time flat Rs.25,000/-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 Branches.

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 )

Documentation charges

Rs.1000/-

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 31.03.2012):-

 Upto 5 years

>5 -10 years

>10-15 years

>15-20 years

Upto Rs.25 lacs

Base Rate

Base rate Base Rate Base Rate

>Rs.25 lacs to Rs.75 lacs

0.25% >BR

0.25% >BR

0.25% >BR 0.25% >BR

>Rs.75 lacs 0.75% >BR

0.75% >BR

0.75% >BR 0.75% >BR

Rate of Interest –Floating (Normal Rate of Interest)

 Upto 5 years

>5 -10 years

>10-15 years

>15-20 years

FOR LIMITS UPTO RS.25 LACS:

Base Rate Base Rate 0.25%>BR 0.25%>BR

FOR LIMITS OVER RS.25 LACS BELOW RS.75 LACS :

0.25%>BR

0.50%>BR

0.75%>BR 1%>BR

FOR LIMITS OF RS.75 LACS & ABOVE

0.75% >BR

  1%>BR 1.25%>BR 1.50>BR

Interest on daily reducing balances. Interest applicable to residents as well as non-residents.

Present Base Rate is 10.75% p.a. w.e.f 28.07.2011

Salient Features –

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 Permanent disablement);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 repayment capacity.

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)

11 Please visit our nearest Branch and avail loan to own your dream home