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Home ownership is an aspiration for many, and in bustling metropolitan cities where luxury is not just a desire but a status symbol, owning a premium property becomes a statement of one’s achievements.
If you’ve ever imagined stepping into a lavish residence that mirrors your accomplishments, the Star Diamond Home Loan might just be your key to unlocking this dream. Here, we dive deep into the intricacies of this esteemed home loan product.
Key Features
| Feature | Details |
|---|---|
| Quantum of Loan | Above ₹7.5 Crores |
| Maximum Repayment Tenure | Up to 360 months |
| Holiday/Moratorium Period | Up to 36 months |
| Smart Home Loan (OD Facility) | For entire limit/outstanding balance @ROI of Home Loan |
| Takeover/Balance Transfer Facility | Available with additional loan amount |
| Instant Top Up Loan | Available |
| Loan Facility for Addition/Extension/Renovation | For existing property |
| Insurance Premium | Considered under project cost (treated as Home Loan component) |
| Step up/Step Down EMI Facility | Available |
| Additional benefits | No hidden charges and no prepayment penalty |
Apply for Bank of India Star Diamond Home Loan with ease.
Bank of India Star Diamond Home Loan Eligibility Criteria
Here are the eligibility criterion:
| Criteria | Details |
|---|---|
| Eligible Applicants | Resident Indian/NRI/PIO |
| HNI Individuals | Salaried/Self-employed/Professionals |
| Non-individuals | Group/Association of Individuals, HUF, Corporates |
| Minimum Income | Minimum average gross income of ₹1 Crore & Above during the last 3 years |
| Trust Eligibility | Trust is not eligible under the scheme |
| Age | Minimum 18 years to maximum 70 years at the time of final repayment |
Star Diamond Home Loan Interest Rates
| CIBIL-Personal Score | Salaried ROI | Non-Salaried ROI |
|---|---|---|
| 825 and above | 8.40% | 8.40% |
| 800 to 824 | 8.50% | 8.50% |
| 760 to 799 | 8.70% | 8.70% |
| 725 to 759 | 8.80% | 8.80% |
| 675 to 724 | 9.55% | 9.55% |
| Below 675 (Women Beneficiary) | 10.65% | 10.80% |
| Below 675 (Others) | 10.70% | 10.85% |
| -1 and 0 | 9.00% | 9.00% |
Processing Charges and Fees
| Charge Type | Details |
|---|---|
| PPC for Individuals | One-time charge @0.25% of loan amount: Min. ₹1500/- to Max. ₹20000/- |
| PPC for Non-individuals | One-time charge @0.50% of loan amount: Min. ₹3000/- to Max. ₹40000/- |
Documents required
Applying for the STAR DIAMOND HOME LOAN requires certain necessary documentation. Here’s a breakdown to ensure a seamless process:
For Individuals
| Document Type | Details |
|---|---|
| Proof of Identity | PAN, Passport, Driver Licence, Voter ID |
| Proof of Address | Passport, Driver Licence, Aadhar Card, Latest Electricity Bill, Latest Telephone Bill, Latest Piped Gas Bill |
| Proof of Income | For Salaried: Latest 6 Month Salary/Pay Slip, One year ITR/Form 16 |
| For Self-employed: Last 3 years ITR with Computation of Income, Profit & Loss Account, Balance Sheet, Capital Account Statement |
For Other than Individuals
| Document Type | Details |
|---|---|
| KYC of Partners/Directors | Required |
| PAN Card copy of Company/Firm | Required |
| Regd. Partnership Deed/MOA/AOA | Required |
| Certificate of Incorporation | As applicable |
| Account Statement | Last 12 months |
| Firm’s Audited Financials | Last 3 years |
Get a Home Loan
with Highest Eligibility
& Best Rates
Comparison
You can also compare the home loan rates of different banks here. For detailed comparison between top banks you can visit our compare banks page.
| Bank | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
|---|---|---|---|
| SBI Bank | 9.15%-11.55% p.a. | 9.15%-11.55% p.a. | 9.15%-11.55% p.a. |
| HDFC Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| LIC Bank | 8.50% – 10.35% p.a. | 8.50% – 10.55% p.a. | 8.50% – 10.75% p.a. |
| ICICI Bank | 8.85% p.a. onwards | 8.85% p.a. onwards | 8.85% p.a. onwards |
| Kotak Mahindra Bank | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards |
| Punjab National Bank | 8.40% – 12.10% p.a. | 8.40% – 12.10% p.a. | 8.40% – 12.10% p.a. |
| Bank Of Baroda | 8.40% – 10.65% p.a. | 8.40% – 10.65% p.a. | 8.40% – 10.90% p.a. |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards |
| Axis Bank | 8.75%-13.30% p.a. | 8.75%-13.30% p.a. | 8.75%-9.65% p.a. |
| Bank of India | 8.4% p.a onwards | 8.4% p.a onwards | 8.4% p.a onwards |
Frequently Asked Questions
The maximum tenure for the home loan is 20-30 years (but the tenure of the loan can also change based on the scheme.)
Offers both fixed and floating interest rate options for home loans. With a fixed rate, the interest remains constant throughout the loan tenure, while with a floating rate, it fluctuates with the market condition.
BOI determines the interest rate based on factors like the loan amount, loan tenure, CIBIL Score, and the type of interest rate (fixed or floating) chosen by the borrower.
You can calculate the EMI for using any online EMI Calculator
HDFC Home Loan
SBI Home Loan
