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 .
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