|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|
|Star Diamond Home Loan||1 Year MCLR + 0.15 % - 1 Year MCLR + 0.20%||Rs 1000 - Rs 20000||maximum of up to Rs 5 crores||depends on loan amount|
|Pradhan Mantri AwasYojana Scheme||As per applicable card rate||0||maximum of up to Rs 12,00,000||20 years|
|BOI Star Smart Home Loan||1 Year MCLR + 0.15 % -1 Year MCLR + 0.20 %||0||minimum of Rs 5 lakh||20|
|Star Pravasi Home Loan Scheme||1 Year MCLR + 0.15 % -1 Year MCLR + 0.20 %||depends on value of house of flat||above Rs 75 lakhs||up to 30 years|
|Star Loan Against Property Scheme||1 Year MCLR +2.00%||0||based on value of property||30 years|
|BOI Star Top-Up Loan||0||0||2 Lakhs||Up to 12 years|
|BOI Earnest Money Deposit (EMD)||1 year MCLR+5%+BSS(0.30%)||500||10 Lakhs||0|
Q: What are the interest rates in Bank of India for a home loan?
A: Bank of India offers a home loan for its customer's with attractive and reasonable rates of interest.The home loan interest rates offered by the Bank of India are from 8.50% to 8.60% for women borrowers it offers at a lesser interest rate which ranges from 8.45% to 8.55%.
Q: What are the different types of home loans in BOI?
A: BOI offers a home loan based on the customer's profile. The types of home loan are as follows:
Q: What is the difference between BOI star home loan and Star Diamond Home Loan?
A: Bank of India Star Home Loan: This loan is offered for salaried employees, self-employed customers and professionals. Also, NRIs, HUF, PIOs, partnership firms, proprietorship firms and corporates can avail this loan with minimal documentation.
Bank of India Star Diamond Home Loan: This BOI home loan variant is specially offered for individuals, corporates and firms with high net worth, for residential accommodation of directors and partners who have an average gross income of at least 1 crore during the past 3 years following by audited Income Tax Returns or balance sheet.
Q: What do I have to provide as security for BOI Home loan?
A: Borrower needs to provide Mortgage or equitable mortgage on the property. Third party guarantee has to be provided as security if the mortgage could not be created before loan disbursement.
Q: What are the features of BOI Star Diamond Home Loan?
A: 1.This Bank of India Home loan is issued depending upon the location of the property or the flat or houses to be purchased.
2. The BOI Star Diamond loan is extended to all individuals with High Net Worth, Firms and corporate with a minimum average gross income of Rs. 1 crore and above as per the last three years audited balance sheet and IT returns.
3. The minimum loan amount to be sanctioned under this category is up to 5 crores only. However, no upper limit is set.
4. The eligible cities are only major and metro cities such as Mumbai, New Delhi and Delhi NCR, Kolkata, Chennai, Ahmedabad, Bangalore, Hyderabad and Pune.