BANK OF INDIA HOME LOAN

Bank of India offers competitive home loans designed to meet various housing needs. Whether you’re buying, constructing, or renovating, their home loans come with attractive interest rates and flexible repayment options. Enjoy simple documentation processes and quick approvals to make your dream home a reality with Bank of India.

Bank of India Home Loan
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Discover a selection of enticing products that will transform your house into the dream home you’ve always envisioned.

BENEFITS OF HOME LOAN

  • Competitive Interest Rates: We offer a collection of home loan products with highly competitive rates designed to lighten your financial load.
  • Transparent Pricing: Experience straightforward loan closure with no hidden fees.
  • Efficient Processing: Obtain your loan with minimal documentation required.

STAR HOME LOAN

Why Continue Renting When You Could Own?

Turn your dream home into reality with our Star Home Loan. We provide effortless financing solutions to streamline your home-buying process. Benefit from competitive interest rates and straightforward procedures with minimal paperwork. Our commitment extends through the entire repayment period, ensuring continuous support and guidance. Whether you’re a first-time buyer or an investor in residential property, Star Home Loan tailors financing to your needs, offering terms that are hard to match. Contact us today to explore the advantages of Star Home Loan and take a significant step towards owning your dream home.

Features

  • Long-term Repayment Options: Up to 360 months of repayment flexibility.
  • Grace Periods: Enjoy up to 36 months of moratorium period.
  • Affordable EMI: Starting at just Rs.755 per lakh.
  • Co-applicant Income Consideration: Increase your eligibility with a close relative’s income.
  • Versatile Loan Options: From plot purchases to renovations and solar installations, we cover a wide array of housing needs with competitive interest rates.
  • Additional Financial Products: Including smart loans (OD facility), balance transfer with top-up options, and more.
  • Comprehensive Coverage: Free accidental insurance up to Rs. 5 crores.

Benefits

  • Low interest rate
  • Minimal documentation required
  • No hidden fees
  • No penalty for prepayment
  • Complimentary accidental insurance coverage up to Rs. 5.00 Crores

Eligibility

  • Eligible applicants include Resident Indians, NRIs, and PIOs.
  • Categories: Individuals (Salaried, Self-employed, Professionals), and Non-individuals (Groups/Associations of Individuals, HUF, Corporates).
  • Trusts are not eligible for this scheme.
  • Age criteria: Minimum of 18 years to a maximum of 70 years at the time of the final repayment.

Interest Rate & Charges

Rate of Interest (ROI)

  • Starts at 8.35%
  • For individuals, ROI is linked to the CIBIL Personal Score.
  • ROI is calculated on a daily reducing balance.

Charges

  • For Individuals: A one-time processing charge of 0.25% of the loan amount, ranging from a minimum of Rs. 1,500 to a maximum of Rs. 20,000.
  • For Non-individuals: A one-time processing charge of 0.50% of the loan amount, with a minimum of Rs. 3,000 and a maximum of Rs. 40,000.
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STAR DIAMOND HOME LOAN

Experience the Ease of Luxury Home Ownership

Realize your aspirations of owning a premium property with the Star Diamond Home Loan. This specialized financing solution is ideal for purchasing high-end residential properties in major cities. Enjoy a streamlined process, attractive interest rates, and minimal processing hassle.

Designed for those who seek the finest in luxury and prestige, the Star Diamond Home Loan simplifies your path to acquiring a prestigious home. Supported by the longstanding reliability of the Bank of India, we ensure your journey to luxury home ownership is smooth and straightforward.

Now is the time to fulfill your dream of a home that reflects your status. Take advantage of our user-friendly online application process. Apply for the Star Diamond Home Loan today and embrace the luxurious lifestyle you deserve.

Features

  • Quantum of Loan: Above ₹7.5 Crore
  • Maximum repayment tenure: Up to 360 months
  • Holiday/Moratorium period: Up to 36 months
  • Smart Home Loan: Overdraft facility against the full outstanding balance at home loan interest rates
  • Property Enhancement Loans: Available for renovations, extensions, or additions to existing properties
  • Takeover/Balance Transfer: Includes the option for additional financing
  • Instant Top Up Loan: Available upon request
  • Insurance Premium: Can be included in the project cost as a component of the home loan
  • Flexible EMI Options: Step up/Step down EMI facilities available

Advantages

  • Competitive low interest rates
  • Streamlined documentation process
  • Transparent fee structure with no hidden charges
  • No penalty for prepayment

Eligibility

  • Applicable to Resident Indians, NRIs, and PIOs.
  • HNI Individuals: Open to Salaried, Self-employed, and Professionals.
  • Non-individuals: Includes Groups/Associations of Individuals, HUF, Corporates.
  • Minimum average gross income of Rs. 1 Crore and above during the last 3 years.
  • Trusts are not eligible for this scheme.
  • Age Criteria: Applicants must be at least 18 years old and not exceed 70 years at the time of the final repayment.

Rate of Interest & Charges

Rate of Interest (ROI)

  • Begins at 8.35%.
  • For individuals, the ROI is linked to the CIBIL Personal Score.
  • ROI calculations are based on a daily reducing balance.

Charges

  • For Individuals: A one-time processing charge of 0.25% of the loan amount, ranging from Rs. 1,500 to Rs. 20,000.
  • For Non-individuals: A one-time processing charge of 0.50% of the loan amount, ranging from Rs. 3,000 to Rs. 40,000.
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STAR SMART HOME LOAN

Make the Smart Choice with Star Smart Home Loan

Features

  • Minimum Loan Amounts:
    • For Salaried: ₹5.00 Lacs
    • For Self-Employed: ₹10.00 Lacs
  • Maximum Repayment Tenure: Up to 360 months
  • Moratorium Period: Up to 36 months
  • Co-applicant Consideration: Income of a close relative can be considered for eligibility
  • Property Acquisition: For purchasing plots with construction planned within 5 years
  • Financial Flexibility: Includes takeover/balance transfer facility with additional loan amount options
  • Instant Top Up Loan: Readily available
  • Specialized Loan Facilities: For home furnishing, purchasing solar PV, and property extension/renovation
  • Insurance Premium: Included in the project cost as a component of the home loan

Advantages

  • No upper limit on loan amount
  • Overdraft facility available
  • Account management via chequebook, debit card, and digital banking
  • Transparent fee structure with no hidden charges
  • No penalty on prepayment
  • Complimentary accidental insurance coverage up to ₹5.00 Crores

Eligibility

  • Existing SB/CD customers maintaining an average balance of over Rs. 5,000 for the past year.
  • New SB/CD customers with an initial deposit exceeding Rs. 5,000.
  • Individuals holding a Salary account with BOI.
  • All other criteria as specified under the Star Home Loan scheme.

Rate of Interest & Charges

Rate of Interest (ROI)

  • Starting from 8.35%.
  • For individuals, the ROI is influenced by the CIBIL Personal Score.
  • ROI calculations are performed on a daily reducing balance.

Charges

  • For Individuals: A one-time processing charge of 0.25% of the loan amount, ranging from Rs. 1,500 to Rs. 20,000.
  • For Non-individuals: A one-time processing charge of 0.50% of the loan amount, ranging from Rs. 3,000 to Rs. 40,000.
Apply Now

STAR PRAVASI HOME LOAN

Achieve Your Dream Home with Our Tailored Financial Solutions

Features

  • Extended Repayment Terms: Up to 360 months for ease of payment.
  • Affordable EMIs: Starting at just Rs.776 per lakh.
  • Moratorium Period: Enjoy up to 36 months before your EMIs begin.
  • Inclusive Eligibility: Income of a close relative can be considered for loan eligibility.
  • Property Acquisition: Suitable for plot purchases with plans to construct within 5 years.
  • Flexible Loan Options: Including smart overdraft facilities at 0.50% above the standard home loan interest rate.
  • Financial Mobility: Takeover/balance transfer options available with additional financing.
  • Instant Top Up Loan: Access additional funds quickly when needed.
  • Comprehensive Loan Uses: For home furnishing, solar PV purchases, and property extensions/renovations.
  • Insurance Benefits: Insurance premiums can be included in the project costs, treated as part of the home loan.
  • EMI Flexibility: Step up/Step down EMI options available to match your financial situation.

Advantages

  • Competitive low interest rates
  • No cap on maximum loan amount
  • Transparent fee structure with no hidden charges
  • No penalties on prepayment
  • Complimentary accidental insurance coverage up to Rs. 5.00 crores

Eligibility

  • Open to NRIs/PIOs.
  • Indian citizens employed in the merchant navy with NRI status.
  • Indian citizens working overseas on assignments with national or international government agencies.
  • Age Criteria: Minimum age of 18 years to a maximum of 70 years at the time of loan repayment.

Rate of Interest & Charges

Rate of Interest (ROI)

  • Starting from 8.35%.
  • ROI is associated with the CIBIL Personal Score for individual borrowers.
  • Calculated based on a daily reducing balance.

Charges

  • For Individuals: A one-time processing fee of 0.25% of the loan amount, ranging from Rs. 1,500 to Rs. 20,000.
  • For Non-individuals: A one-time processing fee of 0.50% of the loan amount, ranging from Rs. 3,000 to Rs. 40,000.
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STAR TOP UP LOAN

Enhance Your Existing Loan with Ease

Features

  • Affordable EMIs: Starting at Rs.887 per lakh.
  • Flexible Moratorium: Up to 36 months holiday period.
  • Inclusive Eligibility: Co-applicant income considered.
  • Versatile Loan Options: Includes smart home loans (OD facility), takeover/balance transfer, and instant top-ups.
  • Comprehensive Loan Uses: For home furnishing, solar PV purchases, and property enhancements.
  • Insurance Inclusion: Premiums included as a home loan component.
  • EMI Flexibility: Step up/step down options available.

Advantages

  • Competitive low interest rates.
  • Simplified documentation process.
  • No cap on the maximum loan amount.
  • Transparent fee structure with no hidden fees.
  • No penalties on early loan repayment.
  • Free accidental insurance coverage up to Rs. 5.00 crores.

Eligibility

  • Open to Resident Indians, NRIs, and PIOs.
  • Suitable for Individuals whether Salaried, Self-employed, or Professionals.
  • Non-individual entities such as Groups/Associations of Individuals, HUFs, and Corporates can apply.
  • Trusts are not eligible for this scheme.
  • Age Criteria: Applicants must be at least 18 years old and not older than 70 years at the time of loan repayment.

Rate of Interest & Charges

Rate of Interest (ROI)

  • Starts from 8.35%.
  • For individuals, the ROI is linked to the CIBIL Personal Score.
  • ROI is computed on a daily reducing balance.

Charges

  • For Individuals: A one-time processing fee of 0.25% of the loan amount, ranging from Rs. 1,500 to Rs. 20,000.
  • For Non-individuals: A one-time processing fee of 0.50% of the loan amount, ranging from Rs. 3,000 to Rs. 40,000.

STAR HOME LOAN – FURNISHING

Transform Your House into a Home with Star Home Loan

Features

  • Flexible Loan Amount: Up to 15% of the principal home loan amount.
  • Extended Repayment Options: Up to 120 months.
  • Affordable EMIs: Start at just Rs.755.
  • Eligibility Flexibility: Income of a co-applicant can be considered.
  • Special Loan Options: For purchasing solar PV systems.
  • Insurance Considerations: Premiums can be part of the loan costs.
  • EMI Adaptability: Step up/step down facilities available.

Advantages

  • Mortgage waiver up to Rs.5.00 lakh.
  • Low-interest rates for manageable payments.
  • Minimal documentation for a hassle-free process.
  • No hidden charges ensuring transparency.
  • Freedom from prepayment penalties.

Eligibility

  • Available to Resident Indians, NRIs, and PIOs.
  • Applicable for individuals: Salaried, Self-employed, or Professionals.
  • Also applicable for Non-individuals: Groups/Associations, HUFs, and Corporates.
  • Trusts are excluded from this scheme.
  • Age Requirement: Minimum 18 years to a maximum of 70 years at the end of the loan repayment period.

Documents Required

For Individuals:

  • Proof of Identity (any one): PAN, Passport, Driver’s License, Voter ID.
  • Proof of Address (any one): Passport, Driver’s License, Aadhar Card, Latest Electricity Bill, Latest Telephone Bill, Latest Piped Gas Bill.
  • Proof of Income:
    • For Salaried: Latest 6 months’ salary/pay slips and one-year ITR/Form 16.
    • For Self-employed: Last 3 years’ ITR with computation of income, Profit & Loss Account, Balance Sheet, Capital Account Statement.

For Non-individuals:

  • KYC of Partners/Directors.
  • PAN card copy of the Company/Firm.
  • Registered Partnership Deed/MOA/AOA.
  • Certificate of Incorporation, as applicable.
  • Last 12 months’ account statement.
  • Audited financials of the firm for the last 3 years.

Rate of Interest & Charges

Rate of Interest (ROI):

  • Starting from 8.35%.
  • ROI is linked with the CIBIL Personal Score for individuals.
  • ROI is calculated on a daily reducing balance.

Charges:

  • For Individuals: A one-time processing charge of 0.25% of the loan amount, ranging from Rs. 1,500 to Rs. 20,000.
  • For Non-individuals: A one-time processing charge of 0.50% of the loan amount, ranging from Rs. 3,000 to Rs. 40,000.
Apply Now

Frequently Asked Questions

What are the eligibility criteria for a home loan from the Bank of India?

Eligibility for a home loan varies based on your employment status (salaried, self-employed), age, income level, credit history, and the value of the property. Please visit our eligibility calculator or contact us directly for a personalized assessment.

What documents are required to apply for a home loan with the Bank of India?

Generally, you will need to provide proof of identity, proof of address, recent salary slips (for salaried individuals), business proof (for self-employed individuals), bank statements, and property documents. A detailed list of specific documents required can be found on our home loan documentation page.

How can I calculate the EMI for my home loan?

You can use the EMI calculator available on our website to estimate your monthly repayments. Just enter the loan amount, the interest rate, and the loan tenure to get an approximate EMI amount.

What are the current interest rates for home loans at Bank of India?

Our home loan interest rates vary depending on various factors including the RBI’s rates, your credit profile, and loan amount. Please check our most updated rates on the Bank of India home loan interest rates page or contact our customer service for real-time information.

How can I apply for a home loan from the Bank of India?

You can apply for a home loan by visiting any of our branches, through our official website, or by calling our customer service hotline. Our team will guide you through the application process, help you with the documentation, and provide all the necessary details to get started.

Home Loan

Home Loan Balance Transfer

Loan Against Property

Personal loan

Office Address

AltF Empire Square – Unit 1, 3rd Floor, JMD Empire Square, Near Sikanderpur Metro, MG Rd, Gurugram, Haryana – 122002.

Additional Information

Customer Care Working Hours:

Monday through Saturday,
10:00 A.M. to 6:30 P.M.

About us: At My Finance care we understand that financial needs vary from person to person, and that’s why we are committed to providing tailored financial solutions for home and personal loans. 

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