Bank of India Mumbai

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About Bank of India

At a time when the whole of India was united in its fight against the British rulers, few wise men had some other thoughts running on their mind. Those gentlemen were affluent businessmen from the city of dreams, which many address Mumbai, previously called Bombay, as. It was over hundred years from now that these gentlemen set up Bank of India (BOI) in September 1906. It began its operations with an initial paid-up capital of ₹ 50 lakhs and about 50 employees. After years of vigil in the banking space arrived the moment of pride and joy for Bank of India. It was 1969 when the Government of India by then acquire BOI from the private hands to prepare a solid deck for it to walk through. Ever since it came under government ownership, it started topping the growth ladder and issued its share to public for the first time in 1997. A decade passed by and the Qualified Institutional Placement (QIP) of the bank came in 2008.

What has played into the hands of BOI is its efficiency in preparing custom made products to suit the tastes of various consumers demonstrating varied behavioural traits. In order to become a name of customization, the bank has rolled out products suitable to corporate, retail, NRIs, MSMEs and many more categories of the banking population. With different products, the bank has ensured to acquire new customers and retain the old ones, thereby adding muscle to its growth story.

With a presence of over 5,000 branches across India, BOI has added a lot to its reach among both urban and rural population across the country. From top-tier cities to a remote village, the bank has branches to meet the banking needs of the people. If it has limited its operation to India alone, it would not have been sitting on the towers of success that it enjoys. The bank has capitalized on its expertise to strengthen its presence globally. Today, it runs offices across 22 foreign countries covering the most important financial centres of the world-Singapore, London, New York, Tokyo, etc.

If we do not focus on what presence Bank of India has in Mumbai, where it is headquartered, it’s story won’t complete. So, all the ‘Mumbaikars’ wherever you are, here comes the list of BOI branches that you can look to bank with.

Bank of India Mumbai Branches

Branch NameComplete AddressIFSCMICRContact Detail
Mumbai MainMumbai Main, 70/80, M.G. Road, P.B. No. 238, Mumbai, Mumbai-400023, MaharashtraBKID0000001400013087022-22624925, 22624926
Andheri WestAndheri West, 28 S.V Raod, Pb 7358 Andheri West, Mumbai- 400058, MaharashtraBKID0000002400013003022-26280209, 26280219
Ballard EstateBallard Estate, Darabshaw House, Narottam Morarji Marg, Mumbai- 400021, MaharashtraBKID0000003400013008022-22612400, 22691218
Ramdas Nayak MargRamdas Nayak Marg (Hill Road), 56 Hill Road, Bandra, Mumbai- 400050, MaharashtraBKID0000004400013026
Mumbai CentralMumbai Central, Sahkti Sadan C Blk, Dr Dada Saheb Bhadaka, Mumbai- 400007, MaharashtraBKID0000005400013005022-23074474, 23097442
Borivali WestBorivali West, Mangal Kunj, S.V.Road, Mumbai- 400092, MaharashtraBKID0000006400013007
Breach CandyBreach Candy, Sky Scraper A, 4/697, Bhulabhai Desai, Mumbai- 400026, MaharashtraBKID0000007400013009022-23678907, 23688526
Bullion ExchangeBullion Exchange, 185, Sheikh Memon Street, Post Box No. 2313, , Mumbai-400002, MaharashtraBULLION EXCHANGE400013011022-23429825, 23428841
ChemburChembur, Near Chembur Naka, Post Bag - 7207, Mumbai-400071, MaharashtraBKID0000009022-25221865, 25225302022-25221865, 25225302
ChurchgateChurchgate, Eros Theatre Building, Jamshedji Tata Road, Mumbai-400020, MaharashtraBKID0000010400013014022-22838136, 22884868
C P TankC P Tank, Chandaramji Girls High, School Bldg C P Tank, Mumbai-400004, MaharashtraBKID0000012400013013022-23812317, 23885257
Cumbala HillCumbala Hill, Dell Star Ns Patkar Ma, Hughes Road, Mumbai-400026, MaharashtraBKID0000013400013015022-23803628, 23803972
Dadar (West)Dadar (West), 61 Gokhale Rd North, Nr. Portugues. Church, Mumbai- 400028, MaharashtraBKID0000015400013019022-24221895, 24221267
Ghatkopar EastGhatkopar East, Kiran Niketan, Tilak Road, Ghatkopar, Mumbai-400077, MaharashtraBKID0000019400013067022-25021428, 25021462
Goregaon WestGoregaon West, Patkar College Bldgs, S.V.Road, Goregaon., Mumbai-400062, MaharashtraBKID0000022400013022
Gandhi MarketGandhi Market, 96 Sion Matunga Estat, Matunga, Mumbai-400022, MaharashtraBKID0000018400013066022-24094734, 24095435
Grant RoadGrant Road, Alankar Build, Balaram Road, Mumbai-400007, MaharashtraBKID0000023400013023
KalbadeviKalbadevi, Round Building, Shamaldas Gandhi Marg, Mumbai-400002, MaharashtraBKID0000024400013030
KharKhar, 531, Linking Road Near, National College, Khar, Mumbai(Bombay), India, 400052, MaharashtraBKID0000026400013031

Products Offered by Bank of India in Mumbai

You can be greeted with a wonderful mix of banking products at the branches of Bank of India in Mumbai. The experienced professionals are adept to understand your banking needs and provide products that can match your requirements. The products that you want to avail must correspond to your financial goals. For buying a flat in Nariman Point, you can take help of a customized home loan. Similarly, if you are in need of instant cash, a personal loan is readily available for you in Mumbai. Below is a tabular summary of the loan products of BOI. Watch it out.

Basic Details of Bank of India Loans in Mumbai

ProductEligibilityLoan AmountInterest RateProcessing FeeTenure
BOI Star Home LoanSalaried employed, self-employed businessmen, professionals, HUF, NRIs, PIOs, corporate and partnership firms are eligibleUpto ₹ 5 Cr8.75% - 8.80%0.25% of the loan amount
Minimum- ₹ 1,000+service tax as applicable

Maximum-₹ 20,000+service tax as applicable
Upto 30 Years
BOI Star Personal Loan SchemeSalaried employees, professionals, pensioners are eligibleUpto ₹ 5 lakhs-10 lakhs12.00% - 14.00%2% of the loan amountUpto 3 years in most cases. In some exceptional case, the maximum tenure goes upto 5 years
BOI Star Vehicle Loan Salaried employees, professionals, NRIs are eligibleUpto ₹ 50 Lakhs-2 Crores9.25%₹ 500 per application+service tax as applicableUpto 7 years
BOI Star Loan Against PropertySalaried, self-employed, partnership firms, people with high net worth are eligible48 times of average monthly gross salary for salaried

4 times of average net annual income for last 2-3 years in the case of self-employed
10.50%-11% p.a.-Upto 15 years
BOI Star Vidya LoanStudents should be an Indian national and must have got admission to a higher education course in recognized institutes in India or overseas₹ 10 lakhs in India

₹ 20 lakhs abroad
8.50%-9.00% p.a.No processing fee for studies in India. However, overseas study comes with a fee of ₹ 1,00010-15 years

Documents You Need to Submit While Applying for Bank of India Loans in Mumbai

DocumentsSalariedSelf-employed
BOI Star Home LoanIdentity Proof- PAN Card/Passport/Voter ID/Aadhaar card

Address Proof-Utility Bill/Passport/Voter ID/Aadhaar Card

Income Proof-Last 3 Month Salary Slips, Form 16 for Last 2 Years, Last 6-month Bank Statement

Property Documents Like Cost Estimation, Property Map, etc
Identity Proof- PAN Card/Passport/Voter ID/Aadhaar card

Address Proof-Utility Bill/Passport/Voter ID/Aadhaar Card

Income Proof-ITR, Audited Balance Sheet and Profit & Loss Account Statement for the Last 3 Years

Property Documents Like Cost Estimation, Property Map, etc
BOI Star Personal Loan SchemeIdentity Proof- PAN Card/Passport/Voter ID/Aadhaar card

Address Proof-Utility Bill/Passport/Voter ID/Aadhaar Card

Income Proof-Last 3 Month Salary Slips, Form 16 for Last 2 Years, Last 6-month Bank Statement
BOI Star Vehicle Loan Identity Proof- PAN Card/Passport/Voter ID/Aadhaar card

Address Proof-Utility Bill/Passport/Voter ID/Aadhaar Card

Income Proof-Last 3 Month Salary Slips, Form 16 for Last 2 Years, Last 6-month Bank Statement
Identity Proof- PAN Card/Passport/Voter ID/Aadhaar card

Address Proof-Utility Bill/Passport/Voter ID/Aadhaar Card

Income Proof-ITR, Audited Balance Sheet and Profit & Loss Account Statement for the Last 3 Years
BOI Star Loan Against PropertyIdentity Proof- PAN Card/Passport/Voter ID/Aadhaar card

Address Proof-Utility Bill/Passport/Voter ID/Aadhaar Card

Income Proof-Last 3 Month Salary Slips, Form 16 for Last 2 Years, Last 6-month Bank Statement

Equitable Home Security
Identity Proof- PAN Card/Passport/Voter ID/Aadhaar card

Address Proof-Utility Bill/Passport/Voter ID/Aadhaar Card

Income Proof-ITR, Audited Balance Sheet and Profit & Loss Account Statement for the Last 3 Years

Equitable Home Security

 

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