- About Coverfox
The Saravana Stores has brought out two schemes that allow for savings in the form of jewellery by way of advance payments. The schemes enable users to save money now to buy gold in the near future. The schemes are available for 11 months. Customers are free to choose their investment amount as per their convenience and affordability.
The objective of this scheme is to allow people to make savings in various pre-decided advance instalment payments. Investors get bonus of a month’s contribution towards the scheme’s end.
Consider the Table Below:
|Monthly investment||Total investment||Profit||Total value|
|INR 8,000||INR 88,000||INR 8,000||INR 96,000|
|INR 4,000||INR 44,000||INR 4,000||INR 48,000|
|INR 2,000||INR 22,000||INR 2,000||INR 24,000|
|INR 1,000||INR 11,000||INR 1,000||INR 12,000|
This policy is designed to allow investors to convert their investments to their fund in terms of gold. They may invest into the fund multiple times and at least once in one month.
Necessary Points to Remember
What if I have a low CIBIL score, will Bank of India still give me a personal loan?
No, a good or high CIBIL score is very important if you need a personal loan.
Does skipping my ICICI bank payment affect my CIBIL score?
Yes, skipping any payment serves as a drawback for you and can cause a decline in your CIBIL score.
Had a loan settlement with Bank of India, will this affect my CIBIL score?
Yes, although the bank considered your appeal and situation, to the CIBIL bureau, this does not matter. This will prove your incapability of repaying loans and decrease your CIBIL score by 75-100 points.
Can I get more than 3 Bank of India personal loans if I have a good CIBIL score?
Yes, you can, provided you have an excellent credit score.
What types of personal loans does Bank of India offer?
Along with secured and unsecured loans, the Bank of India offers a Star Mitra Personal Loan, Star Personal Loan and Star Pensioner’s Personal Loan.
What makes Bank of India personal loan stand out from the rest?
It’s multipurpose use, affordable interest rates, easy repayment plans and thoughtful schemes.
Is it compulsory to have an insurance when applying for a personal loan?
No, it is good to have an insurance, however, it’s not a necessity when applying for a loan.