Bank of India Provides Housing loan for various purposes and attractive Home loan rates.
The Salient features of there Home Loan Schemes are
• To purchase/construct house/flat/renovate/extend/repair existing house/flat.
• Maximum loan amount is Rs.3 crores and repayment ranges upto 20 years, with reasonable processing charges. No commitment /administrative charges.
• The home loan interest rates are attractive according to Available in Industry.
• Option for different EMI amounts for different periods during tenure of loan to suit customers repayment capacity.
• Prepayment of Loan permitted.
• Interest is calculated on daily balance basis which is of great advantage to customer as it results in lower interest amount.
• Simplified application form/procedures for convenience of customers, and speedy approvals.
• Free Personal Accident Insurance cover
• Life Insurance Cover to borrowers for Loan Protection(optional)
Bank of India Home loan rates :-
| Floating Rate | Upto 5 yrs | FOR LIMITS UPTO RS.30 LACS: | 8.75 |
| FOR LIMITS OER RS.30 LACS UPTO RS.50 LACS : | 9.5 | ||
| FOR LIMITS OVER RS.50 LACS : | 10.25 | ||
| 5-10 yrs | FOR LIMITS UPTO RS.30 LACS: | 9 | |
| FOR LIMITS OER RS.30 LACS UPTO RS.50 LACS : | 9.75 | ||
| FOR LIMITS OVER RS.50 LACS : | 10.5 | ||
| >10-15 yrs | FOR LIMITS UPTO RS.30 LACS: | 9.25 | |
| FOR LIMITS OER RS.30 LACS UPTO RS.50 LACS : | 10 | ||
| FOR LIMITS OVER RS.50 LACS : | 10.75 | ||
| >15-20 yrs | FOR LIMITS UPTO RS.30 LACS: | 9.25 | |
| FOR LIMITS OER RS.30 LACS UPTO RS.50 LACS : | 10.25 | ||
| FOR LIMITS OVER RS.50 LACS : | 11 |
PROCESSING FEES
| For loans upto Rs.30 lacs One time @ 0.55% of loan amount min. Rs. 3000/- and max. Rs.10000/- |
| For Loan over Rs.30 Lacs upto Rs.50 lacs – One time flat Rs.15,000/- |
| For Loan over Rs.50 Lacs upto Rs.1.00 crore – One time flat Rs.20,000/- |
| Loans over Rs.1.00 crore – One time flat Rs.25,000/- |
| Loans over Rs.3.00 crores – One time flat Rs.50,000/- |
| For Partnership firms & Corporate Borrowers – |
| Processing charges will be double that of applicable to individuals |
| For Rural areas –Processing charges will be 50% that of applicable to individuals in respect of loans availed by borrowers from rural areas from the Rural Branches. |
Other Available Product: Bank of India Personal Loan
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