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  • Bank of India Star Diamond Home Loan

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Home Loan BYTES FROM OUR KITCHEN

    Bank of India Star Diamond Home Loan

    Established in the pre-independence era, Bank of India is one of the pioneering financial institutions. The bank, which was nationalized in the year 1969, boasts of a nationwide network of over 4000 branches. Bank of India offers an extensive suite of financial products and services surrounding commercial banking, mortgage, private banking, retail banking, asset management and credit cards.

    As we all know, in today’s times, property rates are touching the sky. Purchasing a house is every individual’s life goal, but not something which is easily achievable. Financing a new house or apartment only on one’s savings is often not possible and definitely something that is advised against. That is the primary reason why home loans have become so popular lately. So, if you too are looking for a home loan to finance the cost of a new apartment or construct a new house, you needn’t look any further. Under its retail banking arm, Bank of India offers the BOI Star Diamond Home Loan, a unique loan product which features high loan amounts, easy repayment terms, low interest rates and much more to make it easier for you to own your dream home.

    Features – BOI Star Diamond Home Loan:

    • Quantum of Loan: The BOI Star Diamond Home Loan has been designedkeeping your needs in mind, as well as the rising real estate prices. This loan can be availed for an amount as high as Rs 5 crore.
    • Geographical location of Property / House / Flat: This home loan may only be taken for purchasing a house or flat in metro cities, which are New Delhi, Mumbai, Bangalore, Hyderabad, Chennai, Ahmedabad, Pune, Delhi NCR, Kolkata and Pune.

    Interest Rate – BOI Star Diamond Home Loan:

    Bank of India offers very competitive rates on their home loan products. With the Star Diamond Home Loan, interest is applicable on a floating basis and will be charged at the rate of 0.25% above the bank’s current base rate i.e. 10.20%.

    New MCLR Rate for BOI Star Diamond Home Loan:

    Floating interest rate is applicable on Bank of India Star Diamond Home Loan. The rate of interest on new loans is based on the Marginal Cost of Funds-based Lending Rate (MCLR) from April 1, 2016. BOI has set a benchmark of 1-year MCLR for its home loans. The MCLR for 1 year has been set at 9.4% per annum. Accordingly, the interest rates for BOI’s Star Diamond Home Loan will be 9.95% - in addition to 9.4% MCLR, there is a business strategy spread of 0.3% and an additional 0.25% spread.

    Quantum of Loan:

    The BOI Star Diamond Home Loan has been designed keeping your needs in mind, as well as the rising real estate prices. This loan can be availed for amounts higher than Rs. 5 crore.

    Eligibility – BOI Star Diamond Home Loan

    Following is the criteria applicable to apply for the BOI Star Diamond Home Loan.

    • High Net worth Individuals (HNIs).
    • Corporations or firms who wish to take the loan in order to purchase residential accommodation for their directors or partners.
    • Individuals having an average gross income of Rs 1 crore or above, as per their audited balance sheet or IT returns, for the past 3 years.

    FAQs – BOI Star Diamond Home Loan:

    1. What are the entry level norms applicable on this home loan?

      For individuals, the entry level norms applicable as per the home loan model. For firms and corporations, the entry level norms will be applicable as per the SBS/MS/LC Model.

    2. Are there any processing charges applicable on this loan?

      On the BOI Star Home Loan, a processing charge of Rs 50,000 or for a maximum amount as per the Star Home Loan Scheme, whichever amount is higher.

    Bank of India Star Diamond Home Loan Reviews

    • Bank of India Home Loan
      "Excellent"
      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? 0
      , kolkata
      Reviewed on Jun 14, 2018
    • Bank of India Home Loan
      "BEST SERVICE"
      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? 0
      , 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? 0
      , 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
      "Fantastic"
      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? 0
      , 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? 0
      , 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? 0
      , bangalore
      Reviewed on Aug 26, 2016
    • Bank of India Home Loan
      "Fine"
      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
      "Excellent"
      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
    • Bank of India Home Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      The home loan process is very slow with bank of India. Whatever information we required is not given on time by the customer service or by online portal. Interest rate charged was 12% and the processing fee charged was nominal. Documentation process is very strong.
      Was this review helpful? 1
      , thane
      Reviewed on Feb 24, 2016
    • Bank of India Home Loan
      "Not satisfied..."
      0.5 1.0/5 "Really Bad"
      Earlier I was tried for an Home loan with Bank of India. But the thing is they have their own policy. I would say HDFC Bank is much better than Bank of India. They did not provided ecs option also and they have lots of formalities. It should be minimize.
      Was this review helpful? 1
      , chandigarh
      Reviewed on Feb 23, 2016
    • Bank of India Home Loan
      "Quicker and easier"
      0.5 5.0/5 "Blown Away!"
      The Bank of India service is always good based on the Home loan.They are require lesser documents to complete the loan process.The rates applied are very less .They are taking around a weeks time based on the loan.The loan process basically gets delayed due to the builder documentation process.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 08, 2016
    • Bank of India Home Loan
      "Fabulous "
      0.5 5.0/5 "Blown Away!"
      I had a very good experience with bank of India while taking the home loan . Within two weeks the loan amount was disbursed. Interest rate charged was 9.7% and the processing fee was 0% based on the offer. Verification was also very simple.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 27, 2016
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