When applying for a home loan with Bank of India, you will need to provide specific documents that verify your identity, income, and property details.
Here’s all the necessary documents for an BOI home loan, categorized for easy reference by salaried, self-employed, and NRIs.
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Bank of India Home Loan: General Documents
General documents form the foundation of your Bank of India home loan application. These essential papers verify your identity, employment status, and residential address, ensuring that all applicants meet the basic eligibility criteria set by BOI.
| Category | Documents Required |
|---|---|
| Proof of Identity | PAN Card/ Driver’s License / Voter ID / Passport / Aadhar Card |
| Proof of Address | Driver’s License / Ration Card / Voter ID / Passport / Aadhar Card / Registered Rent Agreement |
Suggested Read: Bank of India Star Diamond Home Loan
Bank of India Home Loan: Proof of Income
Income proof documents are important for assessing your ability to repay the home loan.
| Salaried | Self Employed |
|---|---|
| Last 6 months’ Salary Slips | Last 3 Years ITR with Computation of Income |
| 1 Year ITR/Form 16 | Profit & Loss Account |
| 6 months bank account statement (salary account or individual account). | Balance Sheet |
| Capital Account Statement | |
| Bank account statement for the last 12 months (for individual or business). | |
| Business proof |
Must Read: How to Get a Home Loan With Out Income Proof?
Bank of India Home Loan: Property Documents
Property documents establish the legitimacy and value of the property you intend to purchase. These papers ensure that the investment is secure and compliant with all regulatory standards.
| Property Documents |
|---|
| Permission for construction (where applicable) |
| Registered Agreement for Sale (only for Maharashtra)/Allotment Letter/Stamped Agreement for Sale |
| Occupancy Certificate (in case of ready to move property) |
| Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt |
| Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property) |
| Payment Receipts or bank A/C statement showing all the payments made to Builder/Seller |
Must Read: Best Property Valuation Practices
Bank of India Home Loan: NRI/ PIO Documents
NRI documents are specially required for NRIs applying for an Bank of India home loan. These documents help verify your overseas status, income sources, and financial stability, ensuring that your loan application complies with the bank’s guidelines for NRIs.
| Category | Documents |
|---|---|
| Passport & Visa | Passport with VISA printed on it |
| Work Authorization | Work Permit |
| Identity Proof | Copy of PAN, ID card issued by employer |
| Proof of Address | Proof of address in India Proof of address in the foreign country Proof of address from employer with contact details |
| Income Proof | Latest salary slip in original Annual income tax return filed as per applicable rules for the last 2 years |
Bank of India Home Loan: Balance Transfer Documents
Transferring your existing home loan to Bank of India can help you take advantage of better interest rates and favorable terms. To facilitate a smooth balance transfer process, you need to provide specific documents that verify your current loan details and financial standing.
| Balance Transfer Documents |
|---|
| KYC Documents |
| Home Loan Statements from Previous Bank |
| Bank Account Statement |
Suggested Read: Bank of India Home Loan Customer Care
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Conclusion
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Frequently Asked Questions
You’ll need identity proof (e.g., PAN card, passport), address proof (e.g., utility bills), and income proof (e.g., salary slips, IT returns).
The bank requires KYC documents, property-related papers, and financial statements to process your home loan application.
Essential documents include ID proof, address proof, income proof, and property documents like the sale deed and NOC.
With a ₹70,000 monthly salary, you may be eligible for a home loan of approximately ₹53.41 lakh, depending on other factors.
With a ₹25,000 monthly salary, you might qualify for a home loan of around ₹15.26 lakh, subject to other criteria.
Obtaining a home loan without income proof is challenging; banks typically require documented income to assess repayment capacity.
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