Bank of India Kenya is a leading bank, listed on the Nairobi Securities Exchange (NSE) and regulated by the Central Bank of Kenya (CBK).
Bank of India (Kenya) is a subsidiary of Bank of India (BOI), headquartered in Mumbai, India.
It was in October 1953 that the first branch in Kenya was opened in the Coastal town of Mombasa
Bank of India was founded on 7th September 1906 by a group of eminent businessmen from Mumbai.
The Bank was under private ownership and control till July 1969, when it was nationalised along with 13 other banks.
Currently, the government of India holds the largest shareholding in the bank.
Bank of India (Kenya) offers a variety of banking services, including accounts, loans, remittances, and foreign exchange. They also provide services like online banking.
Bank of India Branches
In Kenya, the bank has branches in Nairobi, Mombasa, Industrial Area, Wetlands, and Eldoret.
Its main office is on Kenyatta Avenue in Nairobi. Customers can access a wide range of services, including personal banking, corporate banking, and foreign exchange services.
Branches in Nairobi
1. Bank of India Kenya Head Office
- Location: Bank of India Building, Kenyatta Avenue, Nairobi
2. Bank Branch in Westlands Branch
- Location: The Oval, 2nd Floor, Jalaram Road, Westlands, Nairobi
3. Bank of India Industrial Area Branch
- Location: Block D-1, Ground Floor, Sameer Business Park, Mombasa Road, Nairobi
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Loans Offered at the Bank
Housing Loan (Star Home Loan Scheme)
Eligible Borrowers
The Scheme is targeted to attract select customers who are;
- In permanent salaried employment, or
- professionals like Doctors, Lawyers, Engineers, etc., or
- self-employed persons having regular income; and/or having any other regular source of income.
- Corporate borrowers or other corporate entities for extending finance to them for the purchase or construction of dwelling units for their employees.
- Proprietary firm / Partnership firm / corporate borrowers.
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Individuals (Salaried / Self-Employed / Professionals / Traders)
Loan Amount Eligibility:
- 48 times your average monthly net salary (take-home), as per salary slips
OR - 4 times your net annual income, including rental income, based on KRA tax returns for the last 2 or 3 Financial Years (FYs)
Others (Proprietorships / Partnerships / Companies)
For Loans or Reducible Overdrafts:
1. The average net annual income over the last 2 to 3 financial years, as per Income Tax Returns,
OR
2. The average cash accruals over the last 2 to 3 financial years, where:
Cash Accruals = Profit After Tax (PAT) + Depreciation,
as derived from the entity’s audited Balance Sheets and Profit & Loss Accounts.
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