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Public Sector Bank

Bank of India Home Loan

India's Most Trusted Partner via Cred Source

4.8 / 5.0
7.10% p.a.
INTEREST RATE
₹15.0 Cr
MAX LOAN
90%
MAX LTV
3-5 Working Days
PROCESSING

About Bank of India

Bank of India (BOI) is one of the oldest and most prestigious public sector banks in India, founded in 1906. Nationalized in 1969, BOI has grown into a major financial giant with extensive domestic operations and 50+ foreign offices in key international hubs including London, Tokyo, Singapore, and New York.

Bank of India Star Home Loan scheme is renowned for offering some of the lowest interest rates in the Indian banking industry, with zero hidden charges, daily reducing balance calculation, and minimal processing charges.

BOI caters to home purchases, plot construction, home renovation, and balance transfers with customizable EMI plans and extended tenures up to 30 years.

Key Highlights

Why choose Bank of India through Cred Source:

Lowest Interest Rate from 7.10% p.a.
Zero Prepayment Charges on Floating Rate
Concessional Rates for Women
Up to 90% Loan on Property Value
Low Processing Fee & Fast Processing

Loan Eligibility Criteria

Who can apply for Bank of India home loan:

Eligible Applicants

Salaried Employees, Self-Employed Professionals, Business Owners & NRIs.

Age Bracket

Minimum 18 years to maximum 75 years at maturity.

Minimum Income

₹20,000/month for salaried; ₹3.0 Lakh/year net profit for self-employed.

Credit Score (CIBIL)

750+ score recommended for lowest interest rate tier.

EMI Calculator & Sample Breakdown

Estimated EMI for Bank of India Home Loan at 7.10% p.a. interest rate:

LOAN AMOUNT TENURE (YEARS) INTEREST RATE ESTIMATED MONTHLY EMI
₹30 Lakh 20 Years 7.10% p.a. ₹25,845 / month
₹50 Lakh 20 Years 7.10% p.a. ₹43,075 / month
₹1.0 Crore 20 Years 7.10% p.a. ₹86,150 / month

Frequently Asked Questions

About Bank of India home loans via Cred Source:

Bank of India requires a minimum monthly income of ₹20,000 for salaried applicants to qualify for Star Home Loan.

BOI offers home loans up to ₹15 Crore depending on income eligibility, property valuation, and repayment capacity.

Bank of India home loan interest rates start from 7.10% p.a. linked to RBLR for applicants with strong credit history.

BOI approves home loans within 3 to 5 working days following legal and technical property verification.

Yes, Cred Source helps you apply for Bank of India home loans hassle-free with expert counselor support.