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Home > Home Loan > Bank Of India Home Loan > How to Apply for Bank of India Home Loan: Online Process, Application Stages, and Approval Timeline

How to Apply for Bank of India Home Loan: Online Process, Application Stages, and Approval Timeline

May 6, 2025
Table of Contents

Applying for a home loan is easier with the Bank of India home loan application process, offering simple steps and quick approvals. By understanding eligibility criteria, required documents, and associated fees, you can make informed decisions. A streamlined application process ensures faster loan disbursal, helping you secure your dream home with ease.


Bank of India Home Loan: Online Application Process

To apply for a Bank of Baroda home loan online, follow these steps for a smooth and hassle-free process.

  1. Visit the Official Website

    Go to the Bank of India homepage and click on ‘Apply Now’.BOI official website

  2. Access the Online Application Form

    Click on ‘Apply Online’ under the home loan section to open the digital form titled “May We Reach You?”.Apply online BOI

  3. Fill in Personal Details

    Enter your Title, First Name, Middle Name, and Last Name.Personal details

  4. Provide Contact Information

    Input your valid Mobile Number and Email ID for communication purposes.Mobile number

  5. Choose Loan Preferences

    – Select Product Category, Product, and Sub Product.
    – Indicate whether you are an Existing Customer.
    – Enter the Desired Loan Amount.Loan category

  6. Select Your Location and Branch

    Choose your State, District, City, and preferred Branch Name.Branch selection

  7. Verify Your Identity

    Type the text code shown in the Text Verification image to proceed.Verification code

  8. Submit Your Application

    Review the details and click Submit. Your request will be processed as per BOI and RBI guidelines.

Also Read: How to Download Bank of India Home Loan Statement


Bank of India Home Loan: Offline Application Process

To apply for a Bank of India home loan offline, follow these steps for a seamless application process.

StepDescription
1. Visit the Nearest BranchGo to your nearest Bank of India branch to initiate the home loan application process.
2. Fill Out the Application FormRequest and complete the home loan application form with your personal and financial details.
3. Provide Required DocumentsSubmit necessary documents, including ID proof, address proof, income proof, and property details.
4. Eligibility AssessmentThe bank will assess your eligibility based on the information and documents provided.
5. Loan DiscussionThe bank representative will discuss the loan amount, tenure, and interest rates.
6. Sign the Loan AgreementOnce approved, you will need to sign the home loan agreement.
7. Disbursement ProcessAfter completing all formalities, the loan will be disbursed as per the agreed terms.

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Bank of India Home Loan Application Checklist

Get ready to apply with this quick checklist covering eligibility and essential documents.

CategoryDetails
EligibilityResident Indian / NRI / PIO; Individuals (Salaried/Self-employed/Professionals); Non-Individuals (Group, HUF, Corporates); Trusts not eligible
Age CriteriaMinimum 18 years, Maximum 70 years at final loan repayment
Identity Proof (Any one)PAN Card, Passport, Driving Licence, Voter ID
Address Proof (Any one)Aadhaar Card, Passport, Driving Licence, Electricity/Telephone/Gas Bill
Income Proof – SalariedLast 6 months’ salary slips, 1 year ITR or Form 16
Income Proof – Self-employedLast 3 years’ ITR, Profit & Loss Account, Balance Sheet, Capital Statement
Non-Individual ApplicantsKYC of Partners/Directors, PAN Card of Entity, Partnership Deed/MOA/AOA, Certificate of Incorporation
Financial DocumentsLast 12 months’ bank statements, Audited Financials for 3 years

Also Read: Bank Of India Home Loan Eligibility Criteria 2025


Bank of India Home Loan Application to Disbursement Stages

Here’s a quick look at the entire journey from applying for a home loan to receiving the funds in your account.

StageDescription
Loan Approval NotificationReceive loan approval notification via email/SMS, including approved loan details.
Loan Agreement SigningReceive a formal sanction letter with final loan amount, interest rate, EMI, and loan tenure.
Submission of Original DocumentsSubmit all required original property documents and sale agreements.
Verification of DocumentsBajaj Housing Finance conducts legal and technical verification of submitted documents.
Final Sanction Letter IssuanceReceive a formal sanction letter with the final loan amount, interest rate, EMI, and loan tenure.
Payment of Processing FeesSubmit a formal request for disbursement with supporting documents (e.g., builder’s demand letter).
Request for Loan DisbursementSubmit formal request for disbursement with supporting documents (e.g., builder’s demand letter).
Loan Amount DisbursalBegin regular EMI payments as per the repayment schedule in your loan agreement.
Loan Repayment CommencementBegin regular EMI payments as per repayment schedule in your loan agreement.

How Long Does it Take to Process a Home Loan Application?

StageKey ActivitiesEstimated TimeFactors Affecting Time
1. Application SubmissionSubmit application (online/offline) with documents.Online: Instant
Offline: 1–2 days
Document completeness, submission mode (online vs. offline).
2. Eligibility CheckCredit profile, income stability, and existing debts.3–5 business daysCredit profile, income stability, existing debts.
3. Property ValuationCredit score assessment, income verification, and debt analysis.3–7 daysProperty type (under-construction/ready), legal clarity.
4. Loan SanctionApproval of loan amount, interest rate, and terms.2–3 days post-valuationCompliance with LTV ratio, valuation report.
5. Legal & Technical CheckVerify property title, ownership, structural safety, and regulatory approvals.5–10 daysProperty disputes, regulatory compliance, builder delays.
6. DocumentationLoan agreement signing, mortgage registration, EMI setup.1–3 daysApplicant responsiveness, document accuracy.
7. DisbursementFunds transferred to seller/builder.1–3 days (ready property)Builder coordination, escrow formalities.

Total Processing Time

  • Best Case: 2–3 weeks (ready property, no delays).
  • Typical Case: 4–6 weeks (standard processing).
  • Under-Construction: 6–8 weeks (phased disbursement).

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Conclusion

Applying for a Bank of India home loan is easy, with a simple process from checking eligibility to getting the loan. Just gather your documents and fill out the application form.


Frequently Asked Questions

What is the eligibility criteria for a Bank of India home loan?

Individuals aged between 18 and 70 years, including salaried employees, self-employed professionals, and Non-Resident Indians (NRIs), are eligible to apply for a BOI home loan.

How can I apply for a home loan with Bank of India?

You can apply online through the BOI website by selecting the ‘Apply Now’ option under the desired home loan product, or visit the nearest BOI branch to complete the application process.

What is the maximum loan amount I can avail from Bank of India?​

BOI offers home loans up to ₹5 crore, with higher amounts considered for eligible applicants based on their repayment capacity and property value.

What is the repayment tenure for BOI home loans?

The maximum repayment tenure is up to 30 years, subject to the borrower’s age and retirement status.

​Are there any processing fees for BOI home loans?

Yes, the processing fee is 0.25% of the loan amount for individuals, with a minimum of ₹1,500 and a maximum of ₹20,000.

​Can I prepay my BOI home loan? Are there any charges?

Yes, you can prepay your home loan. BOI does not levy any prepayment charges for loans under the floating interest rate scheme.

Does BOI offer balance transfer facilities for existing home loans?

Yes, BOI provides a balance transfer facility, allowing you to transfer your existing home loan from another bank to BOI.

Does BOI provide insurance coverage with home loans?​

Yes, BOI offers free accidental insurance coverage up to a limit of ₹5 crore for home loan borrowers.

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