Bank of India Home Loan Interest Rate, Apply 2024

Welcome dear reader, let’s learn about How to get Bank of India Home Loan, Eligibility, Interest Rate, EMI Calculator, Minimum Salary, Civil Score and more details that we read in this article please read till the last.

If you want to take home loan to fulfill your dream of home then this article is for you . home loan comes under the category of Secured Loan.

Like other banks, Bank of India also provides home loan facility to the customers . But before applying for home loan, you need to have some information like Bank Of India Home Loan 2024 What is the interest rate of this loan, up to how much loan amount can we take this loan, what are the documents to apply for this home loan, eligibility and how can we apply for this loan etc. To get all this information, you read this article till the end .

Bank of India Home Loan 2023

From Bank Of India You Can Buy Plot For House Construction, For Home Renovation/Repair Home Loan can take If you do not have your own house then you can fulfill your dream of home by joining Bank of India Home Loan.

The loan amount given by the bank is based on your income and your CIBIL Score Depends on factors like Bank of India (BOI) offers a variety of home loan schemes. Bank of India With this you can get a home loan up to a maximum of Rs 500 lakh. The tenure of this home loan is up to 30 years. The bank allows you to prepay the loan. There is no prepayment charge on the home loan taken at floating interest rate.

Interest is calculated on the basis of daily balance which is very beneficial for the customer as the amount of interest is less . You are the Government of India Pradhan Mantri Awas Yojana (PMAY) You can get subsidy on home loan from Bank of India under

Both resident and non-resident of India Bank of India Home Loan can apply for _ In this, the bank also provides you the facility of free personal accident insurance cover and life insurance cover (optional) to the borrowers for loan protection. Bank Of India (BOI) For more information you can contact your nearest Bank of India branch .

If you are from Bank of India Personal Loan If you want to apply for, then you can apply by clicking on this link “ Bank of India Personal Loan ”.

Key Features of BOI Home Loan

• Loan Name: Bank Of India Home Loan 2024
• Name of the lending bank: Bank of India
• Loan Amount: Up to Rs.500 Lakh
• Interest Rate: Starting from 7.40% pa
• Loan tenure : 30 years
• Processing Fee: Up to 0.25%, Minimum ₹ 1,500 Maximum ₹ 20,000
• Application Mode: Online / Offline
• Official Website: https://www.bankofindia.co.in/

Bank of India (BOI) Home Loan Types :

• BOI Star Smart Home Loan
• Star Pravasi Home Loan Scheme
• BOI Star Home Loan
• Star Diamond Home Loan

Bank of India Home Loan Interest Rate 2024

Bank of India home loan interest rate starts from 7.40%. Those who are existing customers of Bank of India and who have strong credit history, then they can also get this home loan at low interest rate .

Before taking a personal loan, we should Personal Loan Interest Rate 2024 Similarly, before taking a home loan, we need to know about Home Loan Interest Rate 2024 It is necessary to have information about If the customer applies for that loan without knowing the interest rate of the home loan properly, then the customer may have to face a lot of problems at the time of repayment of the loan .

Home Loan Amount

Now it comes to friends that you can take loan amount up to how much loan amount under Bank of India Home Loan. The loan amount is given by the bank on the basis of factors like your income and your credit score . You are given the same loan amount up to the loan amount you are eligible for . You can see the loan amount given here:

• For construction/purchase of a house/flat – Rs.300 lakhs (Rs.500 lakhs in major metros like Mumbai , Kolkata , New Delhi and Chennai )
• For repair/renovation/expansion of house/flat – Rs.50 lakh
• 15% of the maximum loan amount for purchase of household goods with Home Loan for Home/Flat Furnishings

Benefits and Features of Bank of India Home Loan

• Any person salaried person ( salaried person) and self employed (self -employed) can apply for Bank of India home loan .
• 500 lakh under this loan .
• Bank of India (BOI) home loan interest rate starts from 7.40% p.a.
• You can apply for this loan both online and offline .
• of Bank of India (BOI) home loan is up to 30 years .
• The processing fee charged by the bank on home loan is up to 0.25 %, minimum ₹ 1,500 to maximum ₹ 20,000 .
• You can prepay your entire loan amount .
• If you are floating If you take a loan at this rate, then you do not have to pay any prepayment charges .
• To apply for home loan, you can directly give a misscall to the bank’s helpline number 8010968305 or else You can message on <HL> to 7669300024 .
• Salaried employees , professionals , self-employed individuals can apply for this home loan .
• Apply for home loan, it is mandatory for you to give any security to the bank .
• Before applying for a home loan , you should calculate your EMI so that you can get an idea of how much you will have to pay to repay the loan .
• The facility of free personal accident insurance cover is provided to the customer by the bank on the home loan .
• Step Up / Step Down EMI facility .
• Inclusion of income of close relatives for increased debt .
• Facility of tax benefit on the interest and installments paid in the home loan .
• Inclusion of notional rental income in case of employees residing in second house and staff quarters .

Reasons for which we can take home loan

You can take Bank of India Home Loan 2024 for the following reasons :

• You can take home loan to buy/construct a house/flat .
• To renovate/expand/repair existing house/flat
• To buy a plot of land for house construction
• Acquisition of home loan from other banks/financial institutions

Margin

margin	Rupee. For loans up to 20 lakhs	Rupee. For loans up to 75 lakhs	Rupee. For loans above 75 lakhs
for the first house	15%	20%	25%
For second or subsequent home loan/house/flat	20%	20%	25%

Where the value of the house exceeds Rs.10 lakh : Margin is calculated on the net cost of the house/flat excluding stamp duty , registration and other document charges .

For houses costing more than Rs 10 lakh : The project cost may include the cost of stamp duty , registration and other documentation charges .

Bank of India Home Loan Documents List

• Application letter
• passport size photo
• Identity Proof (Pan Card / Passport / Voter ID Card / Driving License)
• Residence Proof (Telephone/Electricity Bill/Water Bill/Gas Bill/Aadhar Card/Passport/Driving License)
• property papers
• Bank account details of last 6 months
• If the loan is taken from any other bank or any other lender, then the details of 1 year of that loan
• Income Proof for Salaried : Salary certificate or salary slip for last three months, copies of Form 16 for last two years , copy of IT returns of last two financial years .
• Income Proof for Self Employed : Business Address Proof , Income Tax Return of last three years, Balance Sheet and Profit and Loss Account for last three years , Business License Statement , TDS Certificate or Form 16A .
• Self-employed professionals like CAs or doctors are also required to submit a certificate of eligibility .

Bank of India Home Loan Eligibility

• Any person can apply for this home loan .
• The age of the person applying should be between 21 to 60 years .
• depends on your age , income , property value and repayment capacity .
• You can increase your eligibility by adding a co-applicant to your loan .
• your credit score , the less time you can get your loan approved .
• Before applying for a home loan, you should calculate your EMI so that you can get an idea of how much you will have to pay at the time of repayment of the loan .

Bank of India Home Loan Apply

If you are eligible for this home loan then you can apply for this home loan online or offline. Information about both the process of applying is given here.

First of all, let us know how we can apply online for this loan.

BOI Home Loan Online Apply

• To apply online , you have to first visit the official website of the bank https://bankofindia.co.in/ .
• Many types of home loan schemes will be visible in the option of Loans on the home page of the website .
• You have to click on the home loan for which you want to apply .

• On the next page, all the information related to that loan will come in front of you .
• After that you will see the option of Apply Now on that page, click on it .
• The form will open in front of you on the next page . You have to enter the required details in the form, after that submit the form .
• submit the form , the bank will contact you and proceed with the loan process .

BOI home loan offline ?

• To apply offline, you have to first go to your nearest Bank of India (BOI) branch .
• By going to the bank, you have to tell the bank employee that you want to apply for home loan .
• After that the bank will provide you all the information related to the home loan .
• Then your documents will be verified . And you will be informed about the number of loans you will be eligible for .
• documents are verified, the loan process will be carried forward .
• If you fulfill all the conditions of the bank, then the loan amount will be transferred to your bank account in a very short time .

Bank of India Home Loan EMI Calculator

You should calculate your EMI before applying for a home loan. If you calculate your EMI beforehand, then you can find out how much you will have to pay to repay the loan. By visiting the official website of the bank, you can calculate the EMI of your loan with the help of Home loan EMI calculator.

Home loan EMI depends on the loan amount, interest rate and loan tenure. You can find the cheapest home loan by comparing different bank home loan EMIs.

Bank Of India Home Loan Customer Care Number

Any person who is eligible for this home loan can apply for Bank of India home loan both online and offline by reading this article . Information about the complete process of applying for home loan is given in this article . If you are facing any kind of problem in applying for this home loan or you want to know more about this loan, then you can contact the Bank of India home loan customer care number given below:

• Customer Care Number – 022-40919191, 1800-220-229

Conclusion:

In this article we have given you provided complete information about Bank of India Home Loan 2023, Any person can take advantage of this loan to fulfill his dream of home.

Hope you friends have found this article informative . If you liked this article then please share it with your friends .

FAQs on BOI Home Loan