Bank Of India (BOI) provides variants of Home Loan Products that best fit different classes of its customers for purchasing a Plot for construction of a House, to purchase/construct house / flat, as well as for renovation/repair / alteration/addition to house / flat. The maximum loan amount the BOI provides is Rs. 5 crores, and repayment ranges up to 30 years, with reasonable margin and nominal processing charges.
₹
500000
36
months
10
%
Monthly EMI
₹
₹ 32,124.56
Total Interest
₹
10,622.78
Principal Amount
₹
500000
Payable Amount
₹
160,622.78
| Pay No. |
Begining Balance | EMI | Principal | Interest | Ending Balance |
|---|---|---|---|---|---|
| 1 | 150000.00 | 32124.56 | 28637.06 | 3487.50 | 121362.94 |
| 2 | 121362.94 | 32124.56 | 29302.87 | 2821.69 | 92060.07 |
| 3 | 92060.07 | 32124.56 | 29984.16 | 2140.40 | 62075.91 |
| 4 | 62075.91 | 32124.56 | 30681.30 | 1443.26 | 31394.61 |
| 5 | 31394.61 | 32124.56 | 31394.64 | 729.92 | -0.03 |
Salaried employees, Professionals, Self-employed persons. Requests are also considered from NRIs, PIOs, HUF, and Prop. Firm, Partnership firms and corporate
Star Home Loan/ Star Smart Home Loan/ Star Pravasi Home Loan :
For all loans amounts:- 0.25 % of loan amount Min. Rs. 1500/- Max. Rs. 20000/-
Processing charges to be double that of applicable to individuals. i.e. @ 0.50% of the loan amount Min. Rs.3000/- and Max. Rs.40000/-
Processing charges 75% of that applicable to individuals in respect of loan availed by borrowers from rural branches.
Min. Rs.1500/- & Max. Rs.20000/-
One time processing charge of Rs.50000/- or maximum as per Star Home Loan Scheme, whichever is higher
The Star Top Up Loan must be repaid in a maximum of 12 years. No extension will be given for this loan.
Yes. BOI allows home loan balance transfer. You will be able to transfer your existing mortgage from other banks or NBFCs to the Bank of India. Get in touch with the bank for more details.
On the basis of salary, a customer can get a loan amount of up to 72 times of gross monthly salary or 6 times of gross annual income based on I-T Returns.
If you have a floating rate home loan, BOI does not charge a prepayment fee. However, you will be allowed to make prepayments only after 6 months from the loan disbursement date.
The minimum and maximum home loan amount available under the BOI Star Smart Home Loan scheme is:
Note: This content is taken from Bank of India website
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