Backed by decades of expertise and robust financial strength, Bank of India doesn’t just provide loans; it delivers a strategic partnership in your homeownership journey.

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Eligibility Criteria for Bank of India Home Loan

Criteria	Salaried Applicants	Self-employed Applicants
Age Range	18 to 70 years	18 to 70 years
Nationality	Indian/NRI/PIO	Indian/NRI/PIO
Monthly Income	Rs 10,000 p.m.	Rs 10,000 p.m.
Maximum Age at Final Repayment	70 years	70 years

Additional Eligibility Criteria

• Co-applicants should be aged 21 to 70 years.
• Minimum Employment History: 2 years for Salaried and 5 years for Self-employed.

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Bank of India Home Loan Rates

Star Home Loan/Star Smart Home Loan/Star Diamond Home Loan

CIBIL Score	Salaried Rate of Interest	Non-Salaried Rate of Interest
825 and above	8.40%p.a. onwards	8.40%p.a. onwards
800 to 824	8.50%p.a. onwards	8.50%p.a. onwards
760 to 799	8.70%p.a. onwards	8.70%p.a. onwards
725 to 759	8.80%p.a. onwards	8.80%p.a. onwards
675 to 724	9.55%p.a. onwards	9.55%p.a. onwards
Below 675 (Women Beneficiary)	10.65%p.a. onwards	10.80%p.a. onwards
Below 675 (Others)	10.70%p.a. onwards	10.85%p.a. onwards
-1 and 0	9.00%p.a. onwards	9.00%p.a. onwards

BOI Home Loan Processing Fee and Charges

Processing Charges

Charge Type	Processing Charge
Individuals	0.25% of loan (Min Rs.2500)
Firms & Corporates	0.50% of loan(Min Rs.5000)
Builder Tie-up Projects	0.15% of loan (Max Rs.10000)
Star Diamond Home Loan	Rs.50000 flat

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Bank of India Home Loan Documents

Identity Documents

Document Name	Salaried Applicants	Self-employed Applicants
Proof of Identity	✔	✔
Address Proof	✔	✔
Age Proof	✔	✔
Passport-sized Photographs	✔	✔

Proof of Income

Document Name	Salaried Applicants	Self-employed Applicants
Salary Slips	✔	✖
Bank Statements	✔	✔
IT Returns	✔	✔
Form 16	✔	✖
Profit & Loss Account	✖	✔
Balance Sheet	✖	✔

Other Documents

Document Name	Salaried Applicants	Self-employed Applicants
Application Form	✔	✔
Processing Fee Cheque	✔	✔
Details of Current Employment	✔	✖
Business Profile	✖	✔
Details of Shareholders	✖	✔
Details of Directors	✖	✔

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BOI Home Loan Schemes and Top Plans

Comparison

Feature	Star Home Loan	Star Diamond Home Loan	Star Smart Home Loan	Star Pravasi Home Loan	Star Top Up Loan	Star Home Loan – Furnishing
Minimum Loan Amount	₹1 Lakh	₹1 Lakh	₹5 Lakhs (salaried), ₹10 Lakhs (self-employed)	₹1 Lakh	₹1 Lakh	₹50,000
Maximum Loan Amount	No Limit	No Limit	No Limit	No Limit	Based on eligibility	Up to 15% of the Home Loan amount
Interest Rate	Starting from 8.40% p.a.	Starting from 8.35% p.a.	Starting from 8.30% p.a.	Starting from 8.60% p.a.	Starting from 8.80% p.a.	Same as Home Loan
Tenure	Up to 360 months	Up to 360 months	Up to 360 months	Up to 360 months	Up to 120 months	Up to 120 months
Eligible Applicants	Resident Indian/NRI/PIO, Salaried/Self-employed	Resident Indian/NRI/PIO, Salaried/Self-employed	Existing and new customers with BOI accounts	NRI/PIO, Indian citizens working abroad	Existing loan holders	Home loan customers

Details

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How to Apply?

Applying for a Bank of India home loan is a straightforward process:

1. Check Eligibility: First, ensure you meet the eligibility requirements for the home loan product you are interested in. This will save you time and streamline the process.
2. Gather Required Documents: Collect all necessary documents needed for the loan application. This typically includes proof of income, identity, residence, and other financial documents.
3. Visit Your Local Branch: Head to your nearest Bank of India branch. Once there, request and complete the home loan application form.
4. Submit Your Application: Hand in your completed application along with the required documentation at the branch.
5. Await Application Review: The bank will then review your application and documents to determine your suitability for the loan.
6. Loan Approval: If your application is approved, the bank will sanction your loan, setting you on the path to homeownership.

Bank of India’s commitment to transparency, customer-centricity, and competitive interest rates makes it a preferred choice for homebuyers.

Bank of India is here to support your journey towards your dream home.

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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	8.5% p.a. onwards	8.5% p.a. onwards	8.5% p.a. onwards
HDFC Bank	8.7% p.a. onwards	8.7% p.a. onwards	8.7% 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
TATA Capital	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards