Please Note: Bank of India is not a Paisabazaar partner. Offers would be from partner banks/NBFCs only.
Bank of India Home Loan Highlights | |
Interest Rate | 8.30%-10.75% p.a. |
Loan Amount | Up to 90% of market value |
Loan Tenure | Up to 30 years |
Processing Charges | NIL |
Note: Rates as of 7th December 2023

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Table of Contents
Bank of India Home Loan Interest Rates
Star Home Loan/Star Smart Home Loan/Star Diamond Home Loan
CIBIL Score | Salaried | Non-Salaried |
825 and above |
8.30% p.a. |
|
800 to 824 |
8.40% p.a. |
|
760 and 799 |
8.60% p.a. |
|
725 to 759 |
8.70% p.a. |
|
675 to 724 |
9.00% p.a. |
|
Below 675 | 10.55% p.a. (for women applicant) |
10.70% p.a. (for women applicant) |
10.60% p.a. (for others) |
10.75% p.a. (for others) |
|
-1 and 0 | 8.90% p.a. |
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Compare Home Loan Interest Rate Offered by Various Banks & HFCs
Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
SBI | 8.40% - 10.15% p.a. | 8.40% - 10.05% p.a. | 8.40% - 10.05% p.a. |
HDFC Bank Limited | 8.35% p.a. onwards | 8.35% p.a. onwards | 8.35% p.a. onwards |
LIC Housing Finance | 8.40% – 10.35% p.a. | 8.40% – 10.55% p.a. | 8.40% – 10.75% p.a. |
ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
Kotak Mahindra Bank | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards |
PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50%-11.45% p.a. |
Punjab National Bank | 8.45%-10.25% p.a. | 8.40%-10.15% p.a. | 8.40%-10.15% p.a. |
Bank of Baroda | 8.40% - 10.65% p.a. | 8.40% - 10.65% p.a. | 8.40% - 10.90% p.a. |
Union Bank of India | 8.35% – 10.75% p.a. | 8.35% – 10.90% p.a. | 8.35% – 10.90% p.a. |
IDFC First Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
L&T Finance Limited | 8.60% p.a. onwards | 8.60% p.a. onwards | 8.60% p.a. onwards |
Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards |
Tata Capital Housing Finance | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards |
Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards |
Compare home loan interest rates offered by top lenders

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Bank of India Home Loan Processing Fee and Other Charges
Processing Charges
Home Loan Schemes | Processing Charges |
For all Home Loan Schemes | NIL |
Also check the home loan processing fees charged by other home loan lenders

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Types of Bank of India Home Loan
BOI Star Home Loan
Purpose: Bank of India offers Star Home Loan scheme for plot purchase, home construction, purchase/construction of house/flat, renovation/repair/alteration/addition to flat/house. Under this scheme, existing home loan borrowers of other banks and HFCs can transfer their existing home loans to Bank of India at lower interest rates.
Loan Amount:
- For purchase/construction of house/flat- Up to Rs. 3 crore (up to Rs 5 crore in metro cities like Mumbai, Delhi, Kolkata, Chennai)
- For repair/renovation/extension- Up to Rs 50 lakh
- Plot Purchase- Up to Rs 3 crore
LTV Ratio: Up to 90% of market value
Tenure: Up to 30 years
Star Diamond Home Loan
Purpose: Bank of India offers Star Diamond Home Loan scheme to HNI individuals having annual gross income of Rs 1 crore and above over the last 3 years, for purchasing homes or carrying out addition/extension/renovation of existing property.
Loan Amount: Above Rs. 7.5 crore
LTV Ratio: Up to 8% of Pure Property Value

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BOI Star Smart Home Loan
Purpose: Consumers having salary account with Bank of India or existing and new savings/current A/c customers of the bank can avail Star Smart Home Loans for purchasing plot with home construction thereon, provided the construction begins within 5 years from the date of loan disbursement. Applicants can also use the loan facility for home furnishing, purchasing Solar PV, addition/extension/renovation of existing property. Star Smart Home Loan scheme also offers home loan balance transfer facility to existing home loan borrowers of other banks and HFCs.
Minimum Loan Amount:
- For salaried- Rs 5 lakh
- For self-employed- Rs 10 lakh
LTV ratio: Up to 90% of market value
Tenure: Up to 30 years

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BOI Star Top Up Loan
Purpose: Existing home loan borrowers of Bank of India can avail Star Top-up Loans over and above the existing home loans for financing their personal requirements, other than for speculative purposes.
LTV Ratio: Up to 90% of property value
BOI Star Pravasi Home Loan Scheme
Purpose: NRIs and Person of Indian Origin can avail BOI Star Pravasi Home Loan scheme for plot purchase and home construction thereon, balance transfer, home furnishing, purchasing Solar PV and addition/extension/renovation of existing property.
Loan Amount: Up to 90% of property value
Tenure: Up to 30 years

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Bank of India Home Loan Eligibility Criteria
Eligibility for Star Home Loan
- Nationality: Resident Indian/NRIs/PIOs are eligible.
- Job profile: Individuals including Salaried/Self-employed/Professionals individuals and Non Individuals including HUF, Corporates, Groups/Association of Individuals
- Trusts cannot avail this loan scheme
- Minimum age at the time of loan application: 18 years
- Maximum age at the time of loan maturity: 70 years
Eligibility for Star Diamond Home Loan
- Nationality: Resident Indians/PIO/NRIs
- Minimum age at the time of loan application: 18 years
- Maximum age at the time of loan maturity: 70 years
- Job Profile: HNI individuals including Salaried/Self-employed/Professionals and Non Individuals including HUF, Corporates, Groups/Association of Individuals
- Minimum average gross income of Rs 1 crore and above during last 3 years

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Eligibility for Star Smart Home Loan
- Existing savings/current account customer with average balance of Rs 5,000 for past 1 year
- New customer who opens a new savings/current account with opening balance of Rs 5,000
- Salaried employees having salaried accounts with Bank of India
- Self-employed professionals such as lawyers, doctors, CA, CS, engineers, etc.
Eligibility for Star Pravasi Home Loan Scheme
- Nationality: Non-Resident Indians/Person of Indian Origin
- Indian citizens working abroad on assignment with National/International government agencies
- Indian citizen working in merchant navy having NRI status
- Minimum age at the time of loan application: 18 years
- Maximum age at the time of loan maturity: 70 years
Know more about home loan eligibility of top home loan lenders
Documents Required for Bank of India Home Loan
For BOI Star Diamond Home Loan
For Individuals:
- ID Proof- Passport/PAN/Driving License/Voter ID
- Address Proof- Passport/Driving License/Aadhar Card/latest electricity bill/latest telephone bill/latest piped gas bill
Income Proof-
- For Salaried- salary or pay slip for latest 6 months and 1 year ITR/Form 16
- For Self-employed- ITR for last 3 years along with income computation of Income/Profit & Loss account/Balance sheet/Capital account statement
For Other than Individuals:
- KYC of partners/directors
- PAN card copy of firm/company
- Account statement for last 1 year
- Registered Partnership Deed/MOA/AOA
- Audited financials of the firm for last 3 years
- Certificate of incorporation
For Star Pravasi Home Loan
For Individuals:
- Passport with VISA printed on it
- Copy of PAN Card
- Work permit
- Address Proof of India and abroad
- ID card issued by the employer
- Address Proof of the employer with contact details
- Latest salary slip
- Annual ITR filed as per the rules of the country where the applicant resides for the last 2 years
For Other than Individuals:
- Membership of professional organization
- Income Proof (based on audited financial)
- Copy of PAN Card
- Passport with VISA printed on it
- Address Proof of India and abroad
- Statement/Income Proof/Returns, etc. as applicable to the country of present residence
- Government or local body permission or license to engage in business activity
Bank of India Home Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395

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FAQs
Q1. Can the applicants availing Bank of India Home Loans choose between fixed and floating rates?
Ans. Bank of India offers home loans at floating rates only. Hence, the applicants cannot choose between the two.
Q2 . Can I foreclose my home loans availed from Bank of India?
Ans. Yes, the applicants can foreclose their home loans availed from Bank of India. The bank does not charge any prepayment fees for home loans at floating rates.
3. Does Bank of India offer any concession on home loans?
Ans. Bank of India does not offer interest rate concessions to women applicants except for those having CIBIL score below 700. The bank offers interest rate concession of 5 bps to female applicants having CIBIL score below 700.
4. What is the minimum credit score required to avail home loan from Bank of India?
Ans. Bank of India has not set a specified credit score for applicants availing home loans from Bank of India. However, it offers lower interest rates to applicants having higher credit scores. For eg., it offers lowest interest rates to applicants having credit scores of 800 and above, followed by applicants having credit scores of 750-799, 700-749 and below 700.