Bank of India Diamond Home Loan | Eligibility | Interest Rates | EMI
Get Details on Bank of India Diamond Home Loan with Fixed Interest Rates starts from 6.85%, Lowest EMI and Check your Eligibility with Bank of India.
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Details on Diamond Home Loan of Bank of India (BOI)
| 1 | Eligible customers | High Net worth Individuals, Firms/ Corporate for residential accommodation of their partners/directors, having minimum average gross income of Rs.1crore and above during the last 3 years , as per audited balance sheet /IT Returns. |
| 2 | Eligible Quantum of Loan | Over Rs. 5 crore |
| 3. | Geographical Location of the properties/ house/flat to be financed | Metros and Major cities only, i.e. Mumbai/New Delhi & Delhi NCR/Chennai/Kolkata/Bangalore/Ahmedabad/Hyderabad/Pune |
| 4 | Margin | 20% on pure Value of Property – i.e on cost of construction /acquisition /renovation /extension etc.,( No other costs such as stamp duty, registration charges, taxes,charges etc., to be added to the cost of property while calculating margin). |
| 5 |
Take home pay /DSCR |
For Individuals : 25% of the Gross Income ; For Firms/Corporate : DSCR -1.5 |
| 6 | Entry Level Norms | For individuals : As per Home Loan Model For Firm/Corporate : As per applicable SBS/MS/LC Model |
| 7 |
Home Loan Interest Rates |
6.85% – 7.75% |
| 8 |
Processing Charges |
All inclusive one time processing charge of Rs.50,000 or maximum as per Star Home Loan Scheme, whichever is higher . No other charges will be applicable except actual out of pocket expenses. |
| All other norms | As per Star Home Loan Scheme . |
