Bank Loan Name Eligibility Rates Involved Bank of Canada Overnight Rate Target Influences prime rates for variable loans/mortgages Current: 2.25%; Bank Rate: 2.5%; Deposit Rate: 2.20% Major Canadian Banks (e.g., RBC, TD) Variable Rate Mortgage Canadian residents, credit score 680+, debt service ratios <39/44% Prime + 0.5-1%; tied to BoC policy Bank of Canada Fixed Rate M…
Loan Name Eligibility Interest Rates (p.a.) BOI Star Personal Loan Salaried employees, professionals, high net worth individuals, BOI staff, pensioners drawing pension through BOI branches 10.85% onwards Star Mitra Personal Loan Salaried/self-employed physically challenged individuals, minors via guardians 10.85% onwards (aligned with Star Personal) BOI Star Doctor &n…