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Bank of India Home Loan

Loan Name Interest Rate Processing Fee Loan Amount Tenure
BOI Star Home Loan 8.70% -9.60% ₹1,000 to ₹20,000 50 crores (maximum) 30 Years
Details
Documents Required

  • Duly filled in application form along with 3 recent passports sized photographs
  • Proof of Residence or Address (Any One): Aadhar Card/ Driving License/ Utility Bills including water bill, electricity bill, LPG bill, telephone bill/ Passport
  • Proof of Identification (Any One): Passport/ PAN/ Election ID Card/ Driver’s License
  • Identity Card of Employer
  • Proof of Income: Recent 3 months salary slip or Salary Certificate from the currently employed organization.
  • For Business Owners/ Self-Employed Persons: IT Returns, Profit & Loss Account, Audited Balance Sheets, Assessment orders, advance tax challans (for both company as well as firm and personal account) for the previous three years.
  • Copies of documents related to the property that has been finalized for purchase
Benefits

  • Get loans at competitive interest rates
  • The borrowers can avail different equated monthly instalment amounts for different periods during the period of the loan to suit the customer’s repayment capacity
  • Interest on loan amount is calculated on a daily balance basis
  • Simplified application form for the convenience of customers as well as for speedy approval
  • Get Life Insurance Cover for loan protection
Eligibility

  • The applicant should be any one of the following to secure the home loan from Bank of India – Salaried Individual, Self-employed personal, professionals, Non-Resident Indians, Hindu Undivided Family, Proprietor Firm, Persons of Indian Origin, Partnership firms and Corporate
  • The minimum age of the applicant should be 21 years
  • The applicant should have a regular source of income to secure the home loan in Bank of India
Other Details

  • Prepayment of the loan amount is permitted.
  • No prepayment charges will be levied under floating interest rate option
  • Free Personal Accident Insurance Cover is provided
  • The maximum tenure of the loan is spread over 30 years
  • Get moratorium period, a maximum of 36 months

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