Bank of India offers home loans starting at 8.60% p.a., with loan tenures of up to 30 years and amounts up to Rs. 5 crores. Additionally, the bank caters to HNI clients by providing higher loan amounts along with features such as an overdraft facility, home loan balance transfer option, and a specialized ‘Star Diamond Home Loan’ scheme.

Bank of India Home Loan Highlights
Particulars	Details
Interest Rate	8.40%-10.85% p.a.
Loan Amount	Up to 90% of market value
Processing Charges	Up to 30 years
Processing Charges	0.25% (Min. Rs 2,500-Max. Rs 20,000)

Types of Home Loans

Type of Home Loan	Purpose	LTV Ratio	Tenure	Special Features
BOI Home Loan	Purchase/Construction of hom	Up to 80%	Up to 30 years	Flexible repayment options, Competitive interest rates
BOI Star Home Loan	Purchase/Construction of hom	Up to 85%	Up to 30 years	Additional benefits for salaried individuals, Higher LTV ratio
BOI Home Loan (Salaried)	Purchase/Construction/Expansion	Up to 90%	Up to 30 years	Special rates for salaried individuals, Quick processing
BOI Home Loan (Self-employed)	Purchase/Construction/Expansion	Up to 80%	Up to 25 years	Tailored for self-employed individuals, Competitive rates
BOI NRI Home Loan	Purchase/Construction/Repairs	Up to 80%	Up to 20 years	Available for NRIs, Tax benefits on interest paid
BOI Home Loan Balance Transfer	Transfer existing home loan	Up to 80%	Up to 25 years	Lower interest rates, Top-up facility available
BOI Home Loan for NRIs	Purchase/Construction/Repairs	Up to 80%	Up to 20 years	Special features for NRIs, Tax benefits on interest paid

Why Choose Bank of India Home Loan?

Bank of India Home Loan Features & Benefits

Maximum repayment tenure up to 360 months
Holiday/Moratorium period up to 36 months
EMI starts @ Rs.755/-per Lakh
Income of co-applicant (close relative) considered for eligibility
Smart Home Loan (OD facility) for entire limit/outstanding balance @ROI of Home Loan
For purchase of plot (house to be constructed within 5 years)
Loan facility for addition/extension/renovation of existing property
Loan facility for furnishing of house @ROI Home Loan
Takeover/Balance Transfer facility with additional Loan amount
Instant Top Up Loan Available
Loan facility for purchasing Solar PV @ROI Home Loan
Insurance premium considered under Project Cost (treated as Home Loan
component)
Step up/Step Down EMI facility

Benefits

Low interest rate
Minimal documentation
No hidden charges
No prepayment penalty
Free accidental insurance coverage up to limit Rs. 5.00 Crores

Bank of India Home Loan Interest Rate

CIBIL-Personal Score	Salaried Rate of Interest	Non-Salaried Rate of Interest
825 and above	8.40%p.a. onwards	8.40%p.a. onwards
800 to 824	8.50%p.a. onwards	8.50%p.a. onwards
760 to 799	8.70%p.a. onwards	8.70%p.a. onwards
725 to 759	8.80%p.a. onwards	9.55%p.a. onwards
675 to 724	9.55%p.a. onwards	9.55%p.a. onwards
Below 675 (Women Beneficiary)	10.65%p.a. onwards	10.80%p.a. onwards
Below 675 (Others)	10.70%p.a. onwards	10.85%p.a. onwards
-1 and 0	9.00%p.a. onwards	9.00%p.a. onwards

Eligibility Criteria for Bank of India Home Loan

Requirements	Salaried	Self-Employed
Residency	Indian/NRI/PIO	Indian/NRI/PIO
Age	18 to 70 years	18 to 70 years
CIBIL Score	Above 750	Above 750
Minimum Monthly Income	Rs 10,000 monthly	Rs 10,000 monthly
Maximum Age at Final Repayment	70 years	70 years

Bank of India Home Loan Processing Fee and Charges

Charge Type	Processing Charge
Individuals	0.25% of loan (Min Rs.2500)
Firms & Corporates	0.50% of loan(Min Rs.5000)
Builder Tie-up Projects	0.15% of loan (Max Rs.10000)
Star Diamond Home Loan	Rs.50000 flat

Documents Required for Bank of India Home Loan

Documents	Salaried Individuals	Self-Employed Professionals
Proof of Identity	✔	✔
Address Proof	✔	✔
Age Proof	✔	✔
Passport-sized Photographs	✔	✔
Salary Slips	✔	✖
Bank Statements	✔	✔
IT Returns	✔	✔
Form 16	✔	✖
Profit & Loss Account	✖	✔
Balance Sheet	✖	✔
Application Form	✔	✔
Processing Fee Cheque	✔	✔
Details of Current Employment	✔	✖
Business Profile	✖	✔
Details of Shareholders	✖	✔
Details of Directors	✖	✔

For Individuals:

ID Proof – Passport/PAN/Driving License/Voter ID
Address Proof – Passport/Driving License/Aadhar Card/latest electricity bill/latest telephone bill/latest piped gas bill
Income Proof for Salaried – salary or pay slip for latest 6 months and 1 year ITR/Form 16.
Income Proof for Self-employed – ITR for last 3 years along with income computation of Income/Profit & Loss account/Balance sheet/Capital account statement

For Other than Individuals:

KYC of partners/directors
PAN card copy of firm/company
Account statement for last 1 year
Registered Partnership Deed/MOA/AOA
Audited financials of the firm for last 3 years
Certificate of incorporation

How to Apply for a Home Loan at the Bank of India?

You can apply in two ways:

Through the official Bank of India portal by filling out the application form and tracking the application status online.
Contact Us at +91 636909 5433 or Visit Grow Associates for more convenient option

Bank of India Home Loan Interest Rates vs Other Banks & HFCs

Bank	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
Bank of India	8.4% p.a onwards	8.4% p.a onwards	8.4% p.a onwards
SBI Bank	8.5% p.a. onwards	8.5% p.a. onwards	8.5% p.a. onwards
HDFC Bank	8.7% p.a. onwards	8.7% p.a. onwards	8.7% p.a. onwards
ICICI Bank	8.85% p.a. onwards	8.85% p.a. onwards	8.85% p.a. onwards
Kotak Mahindra Bank	8.70% p.a. onwards	8.70% p.a. onwards	8.70% p.a. onwards
Punjab National Bank	8.40% – 12.10% p.a.	8.40% – 12.10% p.a.	8.40% – 12.10% p.a.
Bajaj Housing Finance	8.50% p.a. onwards	8.50% p.a. onwards	8.50% p.a. onwards
Axis Bank	8.75%-13.30% p.a.	8.75%-13.30% p.a.	8.75%-9.65% p.a.
TATA Capital	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards

Other Bank of India Loans

Bank of India Personal Loan

Bank of India Business Loan

Bank of India Mortgage Loan

Bank of India Home Loan