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 | 8.45%-10.75% p.a. |
Loan Amount | Up to 90% of market value |
Loan Tenure | Up to 30 years |
Processing Charges | 0.25%(Rs 1,500 – Rs 20,000) |
Note: Rates as of 5th June 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 |
760 and above | Takeover: 8.45% p.a. 8.65% p.a. (no concession for women applicants) |
|
725 to 759 | Takeover: 8.55% p.a. 8.75% p.a. (no concession for women applicant) |
|
675 to 724 | Takeover: 8.65% p.a. 8.85% p.a. (no concession for women applicant) |
|
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 | 8.95% p.a. (no concession for women applicants) |
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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 | 8.50% - 10.15% | 8.50% - 10.05% | 8.50% - 10.05% |
HDFC | 8.50% - 10.35% | 8.50% - 10.60% | 8.50% - 10.70% |
LIC Housing Finance | 8.45% – 10.35% | 8.45% – 10.55% | 8.45% – 10.75% |
ICICI Bank | 9.00%-9.80% | 9.00%-9.95% | 9.00%-10.05% |
Kotak Mahindra Bank | 8.85% onwards | 8.85% onwards | 8.85% onwards |
PNB Housing Finance | 8.75% - 14.50% | 8.75% - 13.00% | 8.75%-11.35% |
Punjab National Bank | 8.65%-9.60% | 8.60%-9.50% | 8.60%-9.50% |
Bank of Baroda | 8.60% - 10.65% | 8.60% - 10.65% | 8.60% - 10.90% |
Union Bank of India | 8.50% – 10.75% | 8.50% – 10.95% | 8.50% – 10.95% |
IDFC First Bank | 8.85% onwards | 8.85% onwards | 8.85% onwards |
L&T Housing Finance | 8.60% onwards | 8.60% onwards | 8.60% onwards |
Bajaj Housing Finance | 8.50% onwards | 8.50% onwards | 8.50% onwards |
Tata Capital | 8.60% onwards | 8.60% onwards | 8.60% onwards |
Federal Bank | 10.15%-10.20% | 10.20%-10.25% | 10.25%-10.30% |
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 |
Star Home Loan/Star Smart Home Loan/Star Diamond Home Loan | 0.25%(Rs 1,500-Rs 20,000) |
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: Regular home loan scheme for plot purchase, for home construction, purchase/construction of house/flat, renovation/repair/alteration/addition to flat/house. This home loan scheme can also be used for home loan transfer of existing home loans from other banks and HFCs to Bank of India at lower interest rates
LTV Ratio: Up to 90% of market value
Tenure: Up to 30 years
Star Diamond Home Loan
Purpose: For individuals with high net worth, firms and corporates for residential accommodation for their directors, partners with minimum average gross income of Rs 1 crore and above as per ITR and audited balance sheets for last 3 years
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: Home loan with overdraft facility
Loan Amount
- Minimum: Rs. 5 lakh (for salaried) and Rs. 10 lakh (for others)
- Maximum: As per the normal home loan scheme
LTV Ratio: Up to 90% of market value

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BOI Star Top Up Loan
Purpose: Home loan top-up scheme for existing Bank of India home loan borrowers for financing their personal requirements, other than speculative purposes
LTV Ratio: Up to 90% of property value
BOI Star Pravasi Home Loan Scheme
Purpose: NRI Home Loans offered to NRIs and Person of Indian Origin for purchase/construction of house/flat, repair/renovation/extension of existing house/flat, plot purchase and balance transfer
LTV Ratio: Up to 90% of market value
Tenure: Up to 30 years

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Bank of India Home Loan Eligibility Criteria
For Star Home Loan
- Salaried employees, professionals, self-employed individuals.
- NRI, HUF, PIO, partnership firms and proprietorship firms are also considered
- Net Take Home Pay:
Salaried Employees | 72 times gross monthly salary/6 times gross annual income based on ITR |
Self-employed/Professionals | 6 times gross annual income based on ITR |
HUF/Proprietorship/Partnership Firm/Company | 6 times of cash accruals as per balance sheet/P&L account |
For Star Diamond Home Loan
- Individuals with high net worth
- Firms/Corporates for residential accommodation of their partners/directors with minimum average gross income of Rs 1 crore and above
- Net Take Home Pay: 25% of gross income for individuals
- Cities Available: Delhi, Bangalore, Hyderabad, Ahmedabad, Pune, Chennai, Mumbai

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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.
For Star Pravasi Home Loan Scheme
- NRIs having valid Indian passport
- People of Indian origin (PIO) having foreign passport and steady source of income. They should substantiate Indian origin status by indicating birth of place India in current passport, passport of parents or grandparents proving his claim as person of Indian origin, PIO card copy
- Net Take Home Pay:
Gross Monthly Income up to Rs 1 lakh | At least 40% |
Gross Monthly Income Rs 1 lakh-Rs 5 lakh | At least 30% |
Gross Monthly Income above Rs 5 lakh | At least 25% |

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For Star Top-up Loan
- The existing home loan borrowers should have a satisfactory repayment track record for past 2 years
- Valid and enforceable mortgage to be availed in the home loan account
Know more about home loan eligibility of top home loan lenders
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.