A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    Bank of India Home Loan

    Bank of Baroda offers housing loans at attractive interest rates with flexible EMI repayment options to cater to your needs. Given below are the current interest rates, eligibility criteria and documentation required for BOI home loans.

    We found 1 Bank of India Home Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.45% - 8.6% Floating
    ₹1,000 to ₹20,000
    5Crs Max
    30 Years
    Response Time : Within 30 minutes
    What you'll love
    Think about
    Bank of India Home Loan is Rated as "Excellent!" by 56 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service



    Bank of India (BOI) is an Indian state-owned commercial bank with headquarters in Mumbai, Maharashtra. Government-owned since nationalisation in 1969, Bank of India has 4545 branches as on 31 December 2013, including 54 branches and with total net income of 24887.1 Million. Bank of India key products are on commercial banking, retail banking, private banking, asset management, credit card. Retail loan in bank of india varies from scheme to scheme for customer.


    You’re probably eligible for an Bank of India Home Loan if you are

    Bank of India Home Loan Minimum Age

    At least 21 years old

     Bank of India Home Loan Maximum Age

    Less than 60 years old

    Bank of India Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    Bank of India Home Loan Minimum Income

    Earn more than the minimum
    income required


    Your Bank of India Home Loan amount eligibility is based on these factors

    Bank of India Home Loan Minimum Salary

    EMI limited to about 50%
    of monthly income

    Bank of India Home Loan Maximum Loan to property value

    Loan capped @ Rs.1 lakh to Rs.500 lakhs

    Bank of India Home Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible Bank of India Home Loan amount by these steps

    Bank of India Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    Bank of India Home Loan Maximum Tenure

    Choose longer tenure loan up to 30 years

    Bank of India Home Loan Add parents as Co-applicant

    Alternatively add your parents


    Documentation needed to apply for an Bank of India Home Loan

    • 1. Signed application form with photograph
    • 2. ID and residence proof
    • 3. Processing fee cheque
    • 4. Last 6 months bank statements
    • 5. Documentation for salaried applicants:
      • Last 3 months salary-slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:
      • Education qualification certificate & proof of business existence
      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account


    Bank of India Home Loan Interest RatesUpdated on 21 Jan 2019

    Bank of India Home Loan Details
    Interest Rate Men : 8.50% to 8.60% Women : 8.45% to 8.55%
    Processing Fees 0.25% of loan amount; Minimum Rs.1,000/- and Maximum Rs.20,000/-(Plus S.T.)
    Loan Tenure 30 years
    Pre-closure Charges Nil


    Bank of India Home Loan

    In today's world, owning a property has become more than just fulfilling the basic necessity of having a shelter. Many people view their homes as an appreciating asset and also as a measure of personal financial accomplishments. With the growing needs of real estate, the property prices are also mounting. At any cost, it is not advisable to burn up all your savings in the name of property purchase. The wisest option is to opt for a home loan and repay the loan as EMIs over the time.

    Bank of India home loans can be used for purchasing a plot, construction of a house or to buy a fully-constructed house. With a pioneer in home loans portfolio like Bank of India, you can be assured of a peaceful and hassle-free property financing experience.

    Bank of India Home Loans Eligibility:

    Bank of India Housing Loan

    Bank of India Star Home Loan Eligibility:

    This loan is offered for salaried employees, self-employed customers and professionals. Also, NRIs, HUF, PIOs, partnership firms, proprietorship firms and corporate can avail this loan on request.

    Bank of India Star Diamond Home Loan Eligibility:

    This BOI home loan variant is specially offered for individuals, corporate and firms with high net worth, for residential accommodation of directors and partners who have an average gross income of at least Rs.1 crore during the past 3 years according to the audited Income Tax Returns or balance sheet.

    BOI Home Loan Documentation:

    Applicants will be required to submit a proof of income, Identity proof and other property related documents. Do enquire with Bank of India for a complete list of documents required before applying for a home loan.

    New Bank of India Home Loan Interest Rate:

    Bank of India offers its customers incredibly attractive and reasonable rates of interest on their home loans. The interest rates are among the most competitive in the market and is calculated by taking into consideration the loan balance on a day to day basis. This method of interest calculation is extremely advantageous to the bank’s customers as it reduces the amount of interest they pay on their home loans.

    The home loan interest rates offered by Bank of India are as follows:

    BOI Home Loan Scheme Rate of Interest
    Star Home Loan * 1 year MCLR irrespective of the limit
    Star Smart Home Loan
    Star Diamond Home Loan

    Bank of India MCLR Rate for Home Loans:

    Bank of India recently set its Marginal Cost of Funds Based Lending Rate (MCLR) at 8.30% for a tenor of one year. The new Rate is effective from 10th March 2018.

    The MCLR Rates set by Bank of India are as follows:

    Loan Tenor MCLR Rate
    Overnight 7.80 %
    1 Month 8.00%
    3 Months 8.10%
    6 Months 8.25%
    1 Year 8.30%

    Bank of India Home Loan EMI Calculator:

    It is very important to assess your financial affordability before availing a home loan. Doing this will ensure that you are not buying more than what you can afford and also ensure that the EMI fits your monthly budget. You don't have to waste your time working out EMI schedule and amortization details. Use an online home loan EMI calculator to get complete information about your repayment schedule. All you have to do is follow the below given simple steps.

    • On BankBazaar.com homepage, select "Home Loan EMI Calculator " under finance tools menu on the top bar.
    • You can enter the loan amount and tenure using the slider and also input the interest rate and processing fee.
    • If you would like to make pre-payments, you can choose "Yes" and enter details like pre-payment frequency, amount and fee.
    • Once you provide all the necessary details, our EMI wizardry will project the monthly EMI, total interest due and a detailed amortization schedule.
    • You can use this data to see if the home loan will be affordable for the given interest rate. Keep varying the tenure and quantum of loan until you arrive at an affordable EMI.

    Features of Bank of India Home Loan:

    • The interest is calculated on a daily reducing basis and the customers are also offered the facility to choose between step up and step down EMIs.
    • BOI offers complimentary personal accident insurance for the borrower that covers accidental death and permanent total disability.
    • Life insurance cover for all borrowers to cover against death during home loan tenure at affordable premium.
    • Loan is extended for furnishing and installation of solar PVs at the same interest rate as that of home loans.
    • Borrowers can enjoy tax benefit on interest and instalments.
    • Highly flexible repayment tenure of up to 30 years including a moratorium of maximum 36 months.
    • Loan quantum of up to Rs.500 lakhs.

    Bank of India Home Loan FAQ:

    1. What will be the processing fees for BOI Home Loans?

      Individuals, all loan amounts

      One time charges of 0.25% of loan amount subject to a minimum of Rs.1000 and a maximum of Rs.20,000

      For partnership firms and corporate

      Processing charges will be double that of the charges for individuals

      For rural home loans

      75% of the amount applicable for individual borrowers.

    2. What is the maximum loan amount that an applicant can avail?

      The eligible quantum for different classes of applicants is as follows.

      Professionals and self-employed customers

      6 times the gross annual income, as per the IT Returns

      Salaried employees

      6 times the gross annual income based on IT returns or 72 times the gross monthly salary

      HUF, partnership firm, companies and proprietorship

      6 times the cash accruals as per the P&L statements or balance sheet

    3. I am a salaried applicant. Can I avail a repayment tenure of 30 years?

      The maximum repayment term offered is 30 years. Generally, in case of salaried applicants, the loan has to be repaid before the date of retirement. Also, if the salaried employees have an assured post-retirement income, the repayment can be done till the borrower's age is 70. Depending on the above conditions, a suitable repayment tenure is decided.

    4. What do I have to provide as security for BOI Home loans?
      • 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
    Home Loan - Sitemap

    Bank of India Home Loan Reviews

    • Bank of India Home Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have been using my housing loan with Bank of India, there service was good ,they have given me sufficient loan amount, and the rate of interest they have given me was up to 8.5% now,the rate of interest is not fixed it use to fluctuate according to market price, and the processing fee they have charged me was nominal,there mobile application and net bank is good, there application is user-friendly,but if i took loan from Hyderabad bank but i am in Bangalore branch then they will not help me out in this only on that bank they will be helping out if i had any issue or query.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 17, 2019
    • Bank of India Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my home loan with Bank of India, the loan amount which they have given me was sufficient, and the rate of interest they have charged me was nominal, and the processing fee they have charged me was nominal and there was no delay in loan amount , i got on time, overall service was good.
      Was this review helpful? 1
      , pune
      Reviewed on Dec 18, 2018
    • Bank of India Home Loan
      "Customer Service should be improved"
      0.5 2.0/5 "Expected more"
      My spouse have housing loan in Bank of India , they added me as a co applicant, I have dissatisfied experience, the process was very delay and the response is not upto the mark. Again planning to do balance transfer from BOI to other bank. Interest rate and charges are fine in Bank of India because its a govt bank.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Nov 28, 2018
    • Bank of India Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I got my housing loan from Bank of India . Am satisfied with rate of interest which is nominal one of 8.35% The customer service and response is good. It took 10 to 15 days for the documentation and approval process. They gave the tenure period of 15 years which i make the payment through ECS. Their customer service is good and responsive. There are no processing fees.
      Was this review helpful? 1
      , bhilwara
      Reviewed on Jul 03, 2018
    • Bank of India Home Loan
      0.5 5.0/5 "Blown Away!"
      My home loan was taken with BANK OF INDIA 6 years back. The loan amount was 9,80,000 and the interest rate was satisfactory . The tenure period was 20 years .The process was very fast and easy . The customer service and responses was amazing . They haves sanctioned the loan with the committed time.
      Was this review helpful? 2
      , kolkata
      Reviewed on Jun 14, 2018
    • Bank of India Home Loan
      0.5 5.0/5 "Blown Away!"
      I have taken home loan form bank of India , as they have given promising rate of interest while comparing to other banking which available in market , easy approval process , payments made through ecs process .customer service and customer response is best regarding queries provides solution.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Apr 30, 2018
    • Bank of India Home Loan
      "Better service"
      0.5 4.0/5 "Great!"
      I have my home loan with BANK OF INDIA for about 3 years . The loan amount was 20,70,000. The Interest rate was 9.5% which is bit high than other banks in the market. The loan process was very smooth and hassle free here . My overall experience was better .
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 14, 2018
    • Bank of India Home Loan
      "Average service"
      0.5 2.0/5 "Expected more"
      The bank of India has offered me a home loan around 5years ago. The customer support service is not up to the mark. The service which I got from the bank of India was below average because they are taking 3months time to disburse the home loan amount. The loan amount has been disbursed in 3 months of time. The rate of interest and the charges are nominal with the bank of India.
      Was this review helpful? 1
      , bangalore
      Reviewed on Feb 06, 2018
    • Bank of India Home Loan
      "Good banking"
      0.5 4.0/5 "Great!"
      I have taken Home loan with Bank of India.The loan amount is 9.50 lakhs they had deducted processing fees and other charges post that they had dispatched of 9.50 lakhs.The tenure is for thirty years.Net banking and mobile App is good and useful.
      Was this review helpful? 3
      , bangalore
      Reviewed on Jan 29, 2018
    • Bank of India Home Loan
      "Looking for better service"
      0.5 2.0/5 "Expected more"
      Bank of India is not corporative to the customer, previously I took the home loan of Rs.12 lakhs for the tenure of 20 years. They done lot of home loan procedure it was very inconvenience and also they are not customer oriented. Even their interest rate was higher side.
      Was this review helpful? 1
      , srinagar
      Reviewed on Oct 25, 2017
    • Bank of India Home Loan
      0.5 5.0/5 "Blown Away!"
      I am having the home loan with the Bank of India and their interest rate is around 8.9%. The loan amount got disbursed within specified time period, also I am really happy with the Bank of India for my home loan disbursal.
      Was this review helpful? 1
      , mumbai
      Reviewed on Sep 23, 2017
    • Bank of India Home Loan
      "Fair Service"
      0.5 4.0/5 "Great!"
      I had taken the home loan in September 2015. The interest rate for my home loan was 9.90% and I am trying to close this loan very fast in order to save the interest. Customer service is quite approachable as the bank located near to my house and it is five minutes walkable distance for me.
      Was this review helpful? 1
      , thane
      Reviewed on Sep 06, 2017
    • Bank of India Home Loan
      "Nice experience"
      0.5 5.0/5 "Blown Away!"
      My home loan is from Bank of India and the process to get this loan is good. The documentation was simple and the disbursement happened on the day I needed the funds. The bank was also nominal on the interest rate and processing charges. The after loan services are smooth.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 29, 2017
    • Bank of India Home Loan
      "Excellent service"
      0.5 4.0/5 "Great!"
      It took more than a month to process a home loan with bank of India. The required loan amount has been disbursed and I am happy about the loan amount. The rate of interest is competitive. There is no fore closure charges. I am satisfied with the service.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Jul 07, 2017
    • Bank of India Home Loan
      "Good housing loan process"
      0.5 3.5/5 "Pretty good"
      Bank of India housing loan process is a medic ore one. A speical thanks to the executive who processed this request as I did not take any pain. Effortlessly I had got this loan. Actually I was looking out to pay off the loan within 10 years the bank confirmed that they can give for only 15 years to 20 years, finally they had come down to 10 years tenure which I liked the most with them.
      Was this review helpful? 0
      , faridabad
      Reviewed on Jan 09, 2017
    • Bank of India Home Loan
      "Be more flexible"
      0.5 2.0/5 "Expected more"
      My area of concern with BOI would be their service as the person in charge did not get back to me when I inquired the housing loan. They dont provide the required information. Also they dont have online facility and there is some clause set when it comes to pre closure as it is limited to 5 EMI. One good thing which I want to specify would be the rates and charges which is quite similar to other Banks,
      Was this review helpful? 2
      , bangalore
      Reviewed on Aug 26, 2016
    • Bank of India Home Loan
      0.5 3.5/5 "Pretty good"
      I have taken series of loans with BOI, firstly, I went ahead by taking a personal loan , secondly, a home loan with them back to back. Being a nationalized bank, they offer a better interest rates and make them feel comfortable. During my home loan process, I have purchased a flat and the interest rate offered to me was in a floating range.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 30, 2016
    • Bank of India Home Loan
      "Better customer experience"
      0.5 5.0/5 "Blown Away!"
      Its good experience with Bank of India related to the home loan process.There was no drawback and they were much better than a private bank related to a home loan process.I got the personal assistance from their executives so customer need not feel any hassles.
      Was this review helpful? 0
      , mumbai
      Reviewed on Mar 28, 2016
    • Bank of India Home Loan
      "Better process "
      0.5 3.0/5 "Satisfactory"
      Bank of India is charging 12.5% interest rate which is fixed for the home loan. I took the loan long time before. Maximum time they use to take is one month because they have many formalities. Part payment and pre closure facility is available without any extra charges.
      Was this review helpful? 0
      , dehradun
      Reviewed on Mar 09, 2016
    • Bank of India Home Loan
      0.5 4.0/5 "Great!"
      Bank of India has a very good customer relationship. Within one month the home loan amount was disbursed . I visited the bank and got the quick response. Rate of interest charged was 9.20% but the processing fee was 0% and there was no any extra charges.
      Was this review helpful? 1
      , mumbai
      Reviewed on Mar 04, 2016
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