Bank of India Home Loan Interest Rates, EMI Eligibility Calculator

Bank of India Home Loan– Calculate EMI & Eligibility details of Bank of India at lowest Interest Rates online. Documents List, Process, Procedure, Processing Fees, Loan amount & per month lowest EMI options, Status, Application, MCLR Rates, Base Rates at emicalculator-india.com.

Bank of India Home Loan can be used for many purposes like To purchase/construct house/flat, To renovate/extend/repair existing house/flat, To purchase a plot of land for construction of house etc.

Bank of India STAR HOME LOAN SCHEME

  • Star Home Loan
  • Star Smart Home Loan
  • Star Diamond Home Loan

About Bank of India : Bank of India was founded on 7th September, 1906 by a group of eminent businessmen from Mumbai. The Bank was under private ownership. The Bank has over 5000 branches in India.

Bank of India Home Loan – Instant Quotes Online

Professional Details
Loan Amount
Occupation
Yearly Income
City
Disclaimer: We do not provide Home Loans but help you to connect with banks to get best deals.
All loans are on sole discretion on the respective banks

Bank of India Home Loan Details

Interest Rates 8.25% – 8.40%
Eligible Borrowers Salaried/ Self-employed
Processing Fees 0.25% of the loan amount Min.Rs.1,000/- and Max. Rs.20,000/-
Maximum Loan Amount Up to Rs.500 Lacs
Eligible Quantum of Loan/ EMI
  • Salaried Employees: 72 times of gross p.a. income-based on ITR.
  • Self-employed/ Professionals etc. : 6 times of Gross p.a. income-based on ITR.
  • HUF/Proprietorship /Partnership Firm/Company: 6 times of cash accruals as per Balance Sheet/P&L Account.
Maximum Repayment Period 30 Years
Age Up to 70 years
Pre Closure Charges NIL
Lowest EMI per 1 Lakh Rs. 751/- onwards
Toll-Free Number 1800 220 229, 1800 103 1906, 022 40919191
Bank Bank of India
Security / Guarantor Mortgage/Equitable Mortgage (1st charge) on land/flat/house. Third-Party guarantee

Special Features :

  • Free Personal Accident Insurance cover for the borrower
  • Life Insurance covers to housing loan borrowers, at an affordable premium against the risk of death during tenure of the loan.
  • Loan furnishing the house/flat at a rate of interest as applicable to housing loan under the scheme

Example – If you want Rs. 10 lakh of a home loan at 8.25%, then your monthly EMI are as given.

Loan Amount Tenure In Years Interest Rate Monthly EMI Total Amount Total Interest
10 lakh 5 8.25% ₹20,396.25 ₹12,23,775.10 ₹2,23,775.10
10 lakh 10 8.25% ₹12,265.26 ₹14,71,831.50 ₹4,71,831.50
10 lakh 15 8.25% ₹9,701.40 ₹17,46,252.64 ₹7,46,252.64
10 lakh 20 8.25% ₹8,520.66 ₹20,44,957.57 ₹10,44,957.57
10 lakh 25 8.25% ₹7,884.50 ₹23,65,350.40 ₹13,65,350.40
10 lakh 30 8.25% ₹7,512.67 ₹27,04,559.77 ₹17,04,559.77

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