A "low interest" loan shouldn't mean you have very little interest in paying it back!
Founded in 1906, Bank of India is one of the oldest thriving financial institutions in India which offers an extensive suite of financial products and services. The bank was nationalized in the year 1969 and currently operates with the help of over 4200 branches, located all over India.
Owning a house can be a matter of great pride and joy for any individual, but, nowadays, with the real estate prices skyrocketing, it’s not easy to finance the cost of a new house or apartment. Therefore, those of you looking to purchase or construct a new house or apartment needn’t look any further. Bank of India offers a unique home financing option by way of the BOI Star Smart Home Loan. This home loan offers some exceptional features and benefits like low interest rates, high loan amounts, long repayment period, among many more.
BOI offers one of the most competitive rates on its home loans. The Star Smart home loan offers the following interest rate, depending on the CIBIL Score:
| CIBIL Score | Salaried Individuals | Non-Salaried |
| 760 and More | 6.50% | 6.50% |
| 725 – 759 | 6.60% | 6.60% |
| 675 – 724 | 6.70% | 6.70% |
| Below 675 |
|
|
| Personal Score (-1 and 0) | 6.70% | 6.70% |
For Individual Applicants:
| Limit of Loan | Charged one time, which includes GST. |
| For every Loan Sum | 0.25% of the home loan amount. Minimum is Rs.1,500 & Maximum is Rs.20,000 plus GST |
For Partnership Organizations & Corporate Debtors:
| Limit of Loan | Charged one time, which includes GST. |
| For every Loan Sum | 0.50% of the home loan amount. Minimum is Rs.3,000 & Maximum is Rs.40,000 plus GST (Double that of individual borrowers) |
For Applicants from Rural Regions:
| Limit of Loan | Charged one time, which includes GST. |
| For every Loan Sum | Processing fees will be 75% of what is applicable to individuals with regard to loans taken by borrowers from rural places from the Rural Bank Branches. Minimum is Rs.1,500 & Maximum is Rs.20,000 plus GST |
Please note that no processing charges will be charged for availing the loan till 31 December 2021.
In order to be eligible for the BOI Star Smart home loan, new and existing customers must comply with the following eligibility criteria:
The Savings Bank or Current Account associated with your BOI Star Smart home loan comes with multiple facilities like a debit card, cheque book facility, mobile banking and internet banking facility, etc.
Yes, all these facilities will only be provided after the full disbursement of loan amount and completion of the moratorium period of the loan.
Any charges levied on the usage of cheque book or ATM card will be applicable as per the bank's extant guidelines.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.
