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Bank of India

Bank of India offers home loans for various purposes, including plot purchase, home construction, purchase/construction of house/flat, renovation/repair/alteration/addition to flat/house. The loans are available at low-interest rates with flexible repayment options for up to 30 years and loan amounts of up to Rs. 5 crores

Bank of India

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Bank of India

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Mode of Process	Online
Location	Pan India
Loan Amount and Tenure	Up to 90% of House Value and Up to 30 years
ROI	8.85%-10.85%
ROI (Fixed/Reducing)	Floating
Foreclosure	As per Policies
Processing Fees	Min. Rs. 1500/- to Max. Rs. 20000/-
Partial Payment Allowance	YES
USP	Low interest rates, minimal documentation, no hidden charges, no prepayment penalty, and free accidental insurance up to Rs. 5.00 Crores.

Bank of India EMI Calculator

Interest Type

FlatReducing

Loan Amount

₹

Interest Rate

Loan Tenure

YearsMonths

Loan Amount	₹100,000
Interest %	9 %
Tenure (months)	12
Emi (monthly)	₹ 8,745
Total Interest	₹ 4,942
Loan Amount + Interest	₹ 104,942

Year

Total Principal
( A )

Total Interest
( B )

Balance
( A + B)

Total Payment

Loan Paid Till Date (%)

2023

₹ 57,240

₹ 3,975

₹ 61,215

₹ 42,760

57.24 %

Jun	₹ 7,995	₹ 750	₹ 8,745	₹ 92,005	7.99 %
Jul	₹ 8,055	₹ 690	₹ 8,745	₹ 83,950	16.05 %
Aug	₹ 8,115	₹ 630	₹ 8,745	₹ 75,835	24.16 %
Sep	₹ 8,176	₹ 569	₹ 8,745	₹ 67,659	32.34 %
Oct	₹ 8,238	₹ 507	₹ 8,745	₹ 59,421	40.58 %
Nov	₹ 8,299	₹ 446	₹ 8,745	₹ 51,122	48.88 %
Dec	₹ 8,362	₹ 383	₹ 8,745	₹ 42,760	57.24 %

2024

₹ 42,757

₹ 968

₹ 43,725

₹ 3

100.00 %

Jan	₹ 8,424	₹ 321	₹ 8,745	₹ 34,336	65.66 %
Feb	₹ 8,487	₹ 258	₹ 8,745	₹ 25,849	74.15 %
Mar	₹ 8,551	₹ 194	₹ 8,745	₹ 17,298	82.70 %
Apr	₹ 8,615	₹ 130	₹ 8,745	₹ 8,683	91.32 %
May	₹ 8,680	₹ 65	₹ 8,745	₹ 3	100.00 %

Work Process

Start with Bank of India Home Loan in few step

Visit Our Website

For the first step, you will have to visit our website to explore the loan options that fit your needs.

Select and Apply

Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.

Submit Your Document

One of the most important steps. Now you will have to submit all the required documents digitally.

Enjoy Your Financial Freedom!

Once your application is approved based on your eligibility, you will receive your loan amount shortly.

Right Documents - Easy Process

Required Documents

PAN Card

Aadhaar Card

Driving Licence

Voter ID

Passport

Registered rent agreement

Current passport size photograph

Eligibility

Resident Indian/NRI/PIO eligible
Salaried, self-employed, and professionals are eligible individuals.
Group, association of individuals, HUF, and corporates are eligible non-individuals
Trust is not eligible
Age eligibility is between 18 to 70 years

Documents required for self-employed person for Bank Of India Home Loan:

Proof of identity required: PAN/Passport/Driver License/Voter ID
Proof of address required: Passport/Driver Licence/Aadhar Card/ Latest Electricity Bill/Latest Telephone Bill/Latest Piped gas bill
Last 3 years ITR with Computation of Income/Profit & Loss Account/Balance Sheet/Capital Account Statement required

Documents required for salaried person for Bank Of India Home Loan:

Proof of identity required: PAN/Passport/Driver License/Voter ID
Proof of address required: Passport/Driver Licence/Aadhar Card/ Latest Electricity Bill/Latest Telephone Bill/Latest Piped gas bill
Proof of income: latest 6 Month Salary/Pay Slip and one year ITR/Form16.

Let us take an example, How Home Loan Emi is being calculated.

For instance, if "Shubham" applies for a Home loan of INR 10 Lacs and get the loan sanctioned at the rate of 10 % with a tenure range of 10 years or 120 Months , in such a case his EMI would be INR 13,215 and complete repayment amount till the end of 10 years tenure would be 15,85,809 (i.e 13,215 EMI * 120 months),, wherein the total interest amount is INR 5,85,809 along with principal repayment of INR 10,00,000.Few additional charges like those of minimal one-time processing fee upto 7% of loan amount may apply. T& C apply.

Year	EMI	Interest Paid	Principle Paid	Outstanding Balance
2022	₹13215.07	₹49382.95	₹29907.47	₹1506518.42
Jul	₹13215.07	₹8333.33	₹4881.74	₹1572593.77
Aug	₹13215.07	₹8292.65	₹4922.42	₹1559378.70
Sep	₹13215.07	₹8251.63	₹4963.44	₹1546163.63
Oct	₹13215.07	₹8210.27	₹5004.80	₹1532948.56
Nov	₹13215.07	₹8168.56	₹5046.51	₹1519733.49
Dec	₹13215.07	₹8126.51	₹5088.56	₹1506518.42
2023	₹13215.07	₹94107.33	₹64473.54	₹1347937.58
Jan	₹13215.07	₹8084.10	₹5130.97	₹1493303.35
Feb	₹13215.07	₹8041.35	₹5173.73	₹1480088.28
Mar	₹13215.07	₹7998.23	₹5216.84	₹1466873.21
Apr	₹13215.07	₹7954.76	₹5260.32	₹1453658.14
May	₹13215.07	₹7910.92	₹5304.15	₹1440443.07
Jun	₹13215.07	₹7866.72	₹5348.35	₹1427228.00
Jul	₹13215.07	₹7822.15	₹5392.92	₹1414012.93
Aug	₹13215.07	₹7777.21	₹5437.86	₹1400797.86
Sep	₹13215.07	₹7731.89	₹5483.18	₹1387582.79
Oct	₹13215.07	₹7686.20	₹5528.87	₹1374367.72
Nov	₹13215.07	₹7640.13	₹5574.95	₹1361152.65
Dec	₹13215.07	₹7593.67	₹5621.40	₹1347937.58
2024	₹13215.07	₹87356.11	₹71224.78	₹1189356.74
Jan	₹13215.07	₹7546.82	₹5668.25	₹1334722.51
Feb	₹13215.07	₹7499.59	₹5715.48	₹1321507.44
Mar	₹13215.07	₹7451.96	₹5763.11	₹1308292.37
Apr	₹13215.07	₹7403.93	₹5811.14	₹1295077.30
May	₹13215.07	₹7355.51	₹5859.57	₹1281862.23
Jun	₹13215.07	₹7306.68	₹5908.40	₹1268647.16
Jul	₹13215.07	₹7257.44	₹5957.63	₹1255432.09
Aug	₹13215.07	₹7207.79	₹6007.28	₹1242217.02
Sep	₹13215.07	₹7157.73	₹6057.34	₹1229001.95
Oct	₹13215.07	₹7107.26	₹6107.82	₹1215786.88
Nov	₹13215.07	₹7056.36	₹6158.72	₹1202571.81
Dec	₹13215.07	₹7005.04	₹6210.04	₹1189356.74
2025	₹13215.07	₹79897.95	₹78682.93	₹1030775.90
Jan	₹13215.07	₹6953.29	₹6261.79	₹1176141.67
Feb	₹13215.07	₹6901.10	₹6313.97	₹1162926.60
Mar	₹13215.07	₹6848.49	₹6366.59	₹1149711.53
Apr	₹13215.07	₹6795.43	₹6419.64	₹1136496.46
May	₹13215.07	₹6741.94	₹6473.14	₹1123281.39
Jun	₹13215.07	₹6687.99	₹6527.08	₹1110066.32
Jul	₹13215.07	₹6633.60	₹6581.47	₹1096851.25
Aug	₹13215.07	₹6578.75	₹6636.32	₹1083636.18
Sep	₹13215.07	₹6523.45	₹6691.62	₹1070421.11
Oct	₹13215.07	₹6467.69	₹6747.39	₹1057206.04
Nov	₹13215.07	₹6411.46	₹6803.61	₹1043990.97
Dec	₹13215.07	₹6354.76	₹6860.31	₹1030775.90
2026	₹13215.07	₹71658.81	₹86922.05	₹872195.06
Jan	₹13215.07	₹6297.59	₹6917.48	₹1017560.83
Feb	₹13215.07	₹6239.95	₹6975.13	₹1004345.76
Mar	₹13215.07	₹6181.82	₹7033.25	₹991130.69
Apr	₹13215.07	₹6123.21	₹7091.86	₹977915.62
May	₹13215.07	₹6064.11	₹7150.96	₹964700.55
Jun	₹13215.07	₹6004.52	₹7210.55	₹951485.48
Jul	₹13215.07	₹5944.43	₹7270.64	₹938270.41
Aug	₹13215.07	₹5883.85	₹7331.23	₹925055.34
Sep	₹13215.07	₹5822.75	₹7392.32	₹911840.27
Oct	₹13215.07	₹5761.15	₹7453.92	₹898625.20
Nov	₹13215.07	₹5699.03	₹7516.04	₹885410.13
Dec	₹13215.07	₹5636.40	₹7578.67	₹872195.06
2027	₹13215.07	₹62556.94	₹96023.92	₹713614.22
Jan	₹13215.07	₹5573.24	₹7641.83	₹858979.99
Feb	₹13215.07	₹5509.56	₹7705.51	₹845764.92
Mar	₹13215.07	₹5445.35	₹7769.72	₹832549.85
Apr	₹13215.07	₹5380.60	₹7834.47	₹819334.78
May	₹13215.07	₹5315.31	₹7899.76	₹806119.71
Jun	₹13215.07	₹5249.48	₹7965.59	₹792904.64
Jul	₹13215.07	₹5183.10	₹8031.97	₹779689.57
Aug	₹13215.07	₹5116.17	₹8098.90	₹766474.50
Sep	₹13215.07	₹5048.68	₹8166.39	₹753259.43
Oct	₹13215.07	₹4980.63	₹8234.45	₹740044.36
Nov	₹13215.07	₹4912.01	₹8303.07	₹726829.29
Dec	₹13215.07	₹4842.81	₹8372.26	₹713614.22
2028	₹13215.07	₹52501.99	₹106078.90	₹555033.38
Jan	₹13215.07	₹4773.04	₹8442.03	₹700399.15
Feb	₹13215.07	₹4702.69	₹8512.38	₹687184.08
Mar	₹13215.07	₹4631.76	₹8583.32	₹673969.01
Apr	₹13215.07	₹4560.23	₹8654.84	₹660753.94
May	₹13215.07	₹4488.11	₹8726.97	₹647538.87
Jun	₹13215.07	₹4415.38	₹8799.69	₹634323.80
Jul	₹13215.07	₹4342.05	₹8873.02	₹621108.73
Aug	₹13215.07	₹4268.11	₹8946.97	₹607893.66
Sep	₹13215.07	₹4193.55	₹9021.52	₹594678.59
Oct	₹13215.07	₹4118.37	₹9096.70	₹581463.52
Nov	₹13215.07	₹4042.57	₹9172.51	₹568248.45
Dec	₹13215.07	₹3966.13	₹9248.95	₹555033.38
2029	₹13215.07	₹41394.13	₹117186.75	₹396452.54
Jan	₹13215.07	₹3889.05	₹9326.02	₹541818.31
Feb	₹13215.07	₹3811.34	₹9403.74	₹528603.24
Mar	₹13215.07	₹3732.97	₹9482.10	₹515388.17
Apr	₹13215.07	₹3653.95	₹9561.12	₹502173.10
May	₹13215.07	₹3574.28	₹9640.80	₹488958.03
Jun	₹13215.07	₹3493.94	₹9721.14	₹475742.96
Jul	₹13215.07	₹3412.93	₹9802.14	₹462527.89
Aug	₹13215.07	₹3331.24	₹9883.83	₹449312.82
Sep	₹13215.07	₹3248.88	₹9966.19	₹436097.75
Oct	₹13215.07	₹3165.83	₹10049.25	₹422882.68
Nov	₹13215.07	₹3082.08	₹10132.99	₹409667.61
Dec	₹13215.07	₹2997.64	₹10217.43	₹396452.54
2030	₹13215.07	₹29123.16	₹129457.74	₹237871.70
Jan	₹13215.07	₹2912.50	₹10302.58	₹383237.47
Feb	₹13215.07	₹2826.64	₹10388.43	₹370022.40
Mar	₹13215.07	₹2740.07	₹10475.00	₹356807.33
Apr	₹13215.07	₹2652.78	₹10562.29	₹343592.26
May	₹13215.07	₹2564.76	₹10650.31	₹330377.19
Jun	₹13215.07	₹2476.01	₹10739.07	₹317162.12
Jul	₹13215.07	₹2386.52	₹10828.56	₹303947.05
Aug	₹13215.07	₹2296.28	₹10918.80	₹290731.98
Sep	₹13215.07	₹2205.29	₹11009.79	₹277516.91
Oct	₹13215.07	₹2113.54	₹11101.53	₹264301.84
Nov	₹13215.07	₹2021.03	₹11194.05	₹251086.77
Dec	₹13215.07	₹1927.74	₹11287.33	₹237871.70
2031	₹13215.07	₹15567.22	₹143013.65	₹79290.86
Jan	₹13215.07	₹1833.68	₹11381.39	₹224656.63
Feb	₹13215.07	₹1738.84	₹11476.24	₹211441.56
Mar	₹13215.07	₹1643.20	₹11571.87	₹198226.49
Apr	₹13215.07	₹1546.77	₹11668.30	₹185011.42
May	₹13215.07	₹1449.53	₹11765.54	₹171796.35
Jun	₹13215.07	₹1351.49	₹11863.59	₹158581.28
Jul	₹13215.07	₹1252.62	₹11962.45	₹145366.21
Aug	₹13215.07	₹1152.94	₹12062.14	₹132151.14
Sep	₹13215.07	₹1052.42	₹12162.65	₹118936.07
Oct	₹13215.07	₹951.06	₹12264.01	₹105721.00
Nov	₹13215.07	₹848.86	₹12366.21	₹92505.93
Dec	₹13215.07	₹745.81	₹12469.26	₹79290.86
2032	₹13215.07	₹2262.21	₹77028.26	₹0.44
Jan	₹13215.07	₹641.90	₹12573.17	₹66075.79
Feb	₹13215.07	₹537.13	₹12677.95	₹52860.72
Mar	₹13215.07	₹431.48	₹12783.60	₹39645.65
Apr	₹13215.07	₹324.95	₹12890.13	₹26430.58
May	₹13215.07	₹217.53	₹12997.55	₹13215.51
Jun	₹13215.07	₹109.22	₹13105.86	₹0.44

FREQUENTLY ASKED QUESTIONS

No, Bank of India only offers home loans at floating rates.

Yes, you can foreclose your home loan from Bank of India without any prepayment fees, but this is only applicable for loans at floating rates.

Bank of India does not specify a minimum credit score requirement for home loan applicants, but higher credit scores can help applicants get lower interest rates.

Bank of India does not offer interest rate concessions for women applicants, except for those with a CIBIL score below 700. Female applicants with a CIBIL score below 700 can get a 5 bps interest rate concession.

Refer Loan is a Phy-zital Fintech that connects Lenders and Borrowers digitally as well physically. It provides a Financial Bouquet to the users with multiple Financial solutions. Its AI-based detailed comparison enables users to find the best financial product from the best financial institutions.

Bank of India

Rate of Interest : 8.85%

Min Salary Required : To be communicated at the time of sourcing

Processing Fees : Min. Rs. 1500/- to Max. Rs. 20000/-

Cibil Score : 750 or above*

Bank of India

Here are a few factors

Product Rating

Bank of India EMI Calculator

Interest Type

Loan Amount

Interest Rate

Loan Tenure

Start with Bank of India Home Loan in few step

Visit Our Website

Select and Apply

Submit Your Document

Enjoy Your Financial Freedom!

Required Documents

Eligibility

Resident Indian/NRI/PIO eligible

Salaried, self-employed, and professionals are eligible individuals.

Group, association of individuals, HUF, and corporates are eligible non-individuals

Trust is not eligible

Age eligibility is between 18 to 70 years

Documents required for self-employed person for Bank Of India Home Loan:

Proof of identity required: PAN/Passport/Driver License/Voter ID

Proof of address required: Passport/Driver Licence/Aadhar Card/ Latest Electricity Bill/Latest Telephone Bill/Latest Piped gas bill

Last 3 years ITR with Computation of Income/Profit & Loss Account/Balance Sheet/Capital Account Statement required

Documents required for salaried person for Bank Of India Home Loan:

Proof of identity required: PAN/Passport/Driver License/Voter ID

Proof of address required: Passport/Driver Licence/Aadhar Card/ Latest Electricity Bill/Latest Telephone Bill/Latest Piped gas bill

Proof of income: latest 6 Month Salary/Pay Slip and one year ITR/Form16.

Let us take an example, How Home Loan Emi is being calculated.

FREQUENTLY ASKED QUESTIONS

Bank of India

Rate of Interest : 8.85%

Min Salary Required : To be communicated at the time of sourcing

Processing Fees : Min. Rs. 1500/- to Max. Rs. 20000/-

Cibil Score : 750 or above*

Bank of India

Here are a few factors

Product Rating

Bank of India EMI Calculator

Interest Type

Loan Amount

Interest Rate

Loan Tenure

Start with Bank of India Home Loan in few step

Visit Our Website

Select and Apply

Submit Your Document

Enjoy Your Financial Freedom!

Required Documents

Eligibility

Resident Indian/NRI/PIO eligible

Salaried, self-employed, and professionals are eligible individuals.

Group, association of individuals, HUF, and corporates are eligible non-individuals

Trust is not eligible

Age eligibility is between 18 to 70 years

Documents required for self-employed person for Bank Of India Home Loan:

Proof of identity required: PAN/Passport/Driver License/Voter ID

Proof of address required: Passport/Driver Licence/Aadhar Card/ Latest Electricity Bill/Latest Telephone Bill/Latest Piped gas bill

Last 3 years ITR with Computation of Income/Profit & Loss Account/Balance Sheet/Capital Account Statement required

Documents required for salaried person for Bank Of India Home Loan:

Proof of identity required: PAN/Passport/Driver License/Voter ID

Proof of address required: Passport/Driver Licence/Aadhar Card/ Latest Electricity Bill/Latest Telephone Bill/Latest Piped gas bill

Proof of income: latest 6 Month Salary/Pay Slip and one year ITR/Form16.

Let us take an example, How Home Loan Emi is being calculated.

FREQUENTLY ASKED QUESTIONS

Can I choose between fixed and floating rates for Bank of India Home Loans?

Is it possible to foreclose my home loan from Bank of India?

What credit score is required to get a home loan from Bank of India?

Does Bank of India offer concessions for home loans?